U.S. Energy Information Administration - EIA - Independent Statistics and Analysis
Today in Energy
Short positions in West Texas Intermediate (WTI) crude oil futures contracts held by producers or merchants totaled more than 540,000 contracts as of October 11, 2016, the most since 2007, according to data from the U.S. Commodity Futures Trading Commission (CFTC). Banks have tightened lending standards for some energy companies as crude oil prices declined throughout 2014 and 2015, and some banks require producers to hedge against future price risk as a condition for lending.
U.S. gross crude oil imports increased by 528,000 barrels per day (b/d), or 7%, during the first half of 2016 compared to the first half of 2015. This increase reverses a multiyear trend of decreasing U.S. crude oil imports as a result of increasing U.S. production.
Russian federal revenue from oil and natural gas production has declined significantly in response to low oil prices. However, Russian oil and natural gas companies’ capital investment programs have been less affected, if at all. Russia’s two main hydrocarbon taxes are calculated by formulas that result in lower tax rates at lower crude oil prices. As oil prices fall, petroleum companies retain a larger share of revenue, but government revenues from oil and natural gas production fall even faster than prices.
Coal has long been the dominant source of electricity generation in the Mountain Census division. In the eight Mountain states, coal-fired power generation made up almost 50% of the region’s total generation in 2015, compared to the national average of 33%. A decade ago, coal’s share in Mountain states was even higher, at 63%. Since then, other electricity generation fuels, such as natural gas, renewables, and nuclear, have gained generation share.
Note: Japan's Kashiwazaki-Kariwa nuclear facility has not operated since being shut down in 2011 and has not submitted a restart application.
An estimated 62,500 power plants are operating around the world, with a total installed generating capacity of more than 6,000 gigawatts (GW) in 2015. The nine largest operating power plants in the world by capacity are all hydroelectric power plants.
Hurricane Matthew resulted in temporary electricity outages for millions of customers along the southern Atlantic Coast. Matthew was a Category 3 hurricane when it hit the east coast of Florida, just north of the St. Lucie Nuclear Plant, on Thursday, October 6. The hurricane traveled north along the Florida coastline, and by Saturday, October 8, it had reached South Carolina and continued its track along the coastlines of North Carolina and southeastern Virginia before heading out to sea.
The recovery, or recycling, of paper and paperboard has increased from 34% of supply in 1990 to 67% of supply in 2015. Most of this recovered paper is consumed in the United States, but some is exported. Based on data from the American Forest and Paper Association, domestic consumption of recovered paper at U.S. mills increased to 31 million tons in 2015, while net recovered paper exports increased to 21 million tons.
Note: The propane price is a weighted average of Midwest and Northeast prices.
Most U.S. households can expect higher heating expenditures this winter (October through March) compared to last winter, according to EIA's Winter Fuels Outlook. Winter heating expenditures for most fuels were especially low last winter, when energy prices were relatively low and warm weather reduced heating demand to the lowest level nationally in at least 25 years. Although expenditures for nonelectric fuels are expected to be higher than last winter, expenditures are comparable to or lower than the average winters from 2010–11 through 2014–15. By comparison, electric heating prices and expenditures are expected to remain relatively stable.
U.S. energy-related carbon dioxide (CO2) emissions totaled 2,530 million metric tons in the first six months of 2016. This was the lowest emissions level for the first six months of the year since 1991, as mild weather and changes in the fuels used to generate electricity contributed to the decline in energy-related emissions. EIA’s Short-Term Energy Outlook projects that energy-associated CO2 emissions will fall to 5,179 million metric tons in 2016, the lowest annual level since 1992.
Starting with the Weekly Petroleum Status Report (WPSR) published on Thursday, October 13, the U.S. Energy Information Administration (EIA) will no longer include crude oil lease stocks in U.S. total commercial crude oil inventory data. Crude oil lease stocks refer to oil (currently about 31 million barrels) that is stored in tanks at sites across the United States where producers are drilling on leased land. Lease stocks are not yet available for commercial use, and in many cases, operators do not count them as production until the oil is transferred off the lease.