U.S. Energy Information Administration - EIA - Independent Statistics and Analysis
Today in Energy
Note: Calculations assume export from the Sabine Pass liquefaction terminal at an average LNG Carrier speed of 19.5 knots and one-day transit time through the Panama and Suez Canals.
The newly expanded Panama Canal will be able to accommodate 90% of the world's current liquefied natural gas (LNG) tankers with LNG-carrying capacity up to 3.9 billion cubic feet (Bcf). Prior to the expansion, only 30 of the smallest LNG tankers (6% of the current global fleet) with capacities up to 0.7 Bcf could transit the canal. The expansion has significant implications for LNG trade, reducing travel time and transportation costs for LNG shipments from the U.S. Gulf Coast to key markets in Asia and providing additional access to previously regionalized LNG markets.
Note: Results can vary because of the types of wells, completions, and leases included in the analysis, update schedules of source databases, and estimation results for a number of late-reporting states.
Stripper wells, or wells that produce small volumes, represent an important but decreasing share of total U.S. oil and natural gas production. These wells are characterized as producing no more than 15 barrels of oil equivalent per day (boe/d) over a 12-month period. EIA estimates that there were about 380,000 stripper oil wells (so called because they are stripping the remaining oil out of the ground) in the United States operating at the end of 2015, compared to about 90,000 nonstripper oil wells.
Tax credits and efficiency standards for appliances and vehicles have been key drivers for increasing renewable energy use and energy efficiency in the United States. Extending these policies and increasing the stringency of the Clean Power Plan beyond 2030 would reduce energy-related carbon dioxide (CO2) emissions by reducing motor fuel use and energy use in buildings by increasing efficiency and by increasing the share of solar and wind in the electricity generation mix.
Proposed fuel economy and greenhouse gas emissions standards would increase fuel economy and reduce diesel consumption in medium- and heavy-duty vehicles. Unlike light-duty vehicles, which have been subject to fuel economy standards since the 1970s, the first phase of medium- and heavy-duty vehicle standards was recently implemented, starting with model year 2014. The proposed Phase 2 standards—issued jointly by the U.S. Environmental Protection Agency and the National Highway Traffic Safety Administration—would take effect in model year 2021 for most medium- and heavy-duty vehicle classes and increase in stringency through model year 2027. These standards are projected to reduce diesel consumption by 0.5 million barrels of oil equivalent per day (boe/d) by 2040.
Prices of carbon dioxide (CO2) emission allowances in the Regional Greenhouse Gas Initiative (RGGI) have fallen for the second auction in a row, to $4.53 per metric ton (mt) of CO2. The auction prices on June 1 were 40% below their previous peak value of $7.50/mtCO2, reached on December 2, 2015.
On June 26, the Panama Canal Authority, the body that operates the Panama Canal, will inaugurate a third set of locks, which will allow for the transit of larger ships. This is the first such expansion since the canal was completed in 1914. With the exception of U.S. propane exports, the expansion of the Panama Canal is not likely to drastically affect crude oil and petroleum product flows.
Weekly U.S. commercial crude oil inventories have increased by more than 71 million barrels (15%) since the end of September, pushing crude oil storage capacity utilization to a near record high of 73% for the week ending June 10.
The U.S. Environmental Protection Agency's (EPA) Clean Power Plan (CPP) regulates carbon dioxide (CO2) emissions at existing fossil-fueled electric power plants, but the ultimate energy-related emissions effect depends to an important extent on how the rule will be implemented by states. Because the CPP provides the flexibility to choose different compliance options for reducing CO2 emissions, EIA has produced an Issues in Focus analysis that considers several compliance paths.
The U.S. Energy Information Administration has released a free data add-on for Google Sheets. Similar to EIA's Microsoft Excel extension, the new Sheets add-on allows users to browse EIA's energy API data categories or search keywords to find domestic and international energy data for the production, consumption, and price of different fuels, as well as EIA's short-term forecasts and long-term projections. EIA currently has 1.2 million data series available through the Application Programming Interface (API), developed as part of EIA's Open Data program.
EIA's Annual Energy Outlook 2016 (AEO2016) Reference case projects that natural gas-fired electricity generation will exceed coal-fired electricity generation by 2022, while generation from renewables—driven by wind and solar—will overtake coal-fired generation by 2029. The shift away from coal-fired generation to a combination of higher natural gas-fired and renewables generation and greater energy efficiency is expected to be accelerated by the U.S. Environmental Protection Agency's Clean Power Plan (CPP).