Average U.S. crude oil production hit a record high of 13.4 million barrels per day (b/d) during August 2024, according to a Nov. 26 report from the U.S. Energy Information Administration. U.S. crude oil production during August 2024 surpassed production during December 2023, when the previous monthly record of 13.3 million b/d was achieved. The…...
The U.S. Energy Department on Nov. 26 announced a conditional commitment for a loan of $6.57 billion to Rivian New Horizon to build an electric vehicle manufacturing site in Stanton Springs North, Georgia. The nine million-square-foot manufacturing site could produce up to 400,000 vehicles, such as electric sport utility vehicles, or eSUVs. Through this loan,…...
The retail price of regular gasoline, on the Monday before Thanksgiving averaged $3.04 per gallon (gal) across the U.S., down seven percent compared to the same time during 2024, according to a Nov. 27 report published by the U.S. Energy Information Administration. Heading into the Thanksgiving weekend, retail gasoline prices are at their lowest level…...
The U.S. Energy Department on Nov. 25 announced a conditional commitment for a loan guarantee of up to $4.9 billion to Grain Belt Express LLC to help finance a high-voltage direct current interregional transmission project. The 2,500-megawatt (MW) power line would run approximately 578 miles between Kansas and Missouri. The transmission project – Grain Belt…...
Global gas markets could witness tighter supply-demand fundamentals during winter 2024-25, according to a Nov. 25 report published by the U.S. Energy Information Administration. The previous two winters in the Northern Hemisphere have witnessed above seasonal normal temperatures, leading to lower demand and in turn relatively higher storage capacity. If the temperature during winter 2024-25…...
The U.S. Environmental Protection Agency has proposed to strengthen standards for nitrogen oxide, or NOX, emissions from new gas-fired power plants, the first update in nearly 20 years. The standards would apply to most new, modified, and reconstructed fossil fuel-fired stationary combustion turbines, lowering exposure to hazardous air pollution for local communities. Nitrogen oxide emissions…...
The U.S. Energy Department, on Nov. 22, finalized a $1.3 billion loan to ENTEK Lithium Separators LLC to expand its manufacturing of lithium-ion battery separators. The loan will support ENTEK’s new manufacturing site in Terre Haute, Indiana, and boost the domestic supply chain of lithium-ion EV batteries. The department announced the conditional loan guarantee for…...
The Federal Energy Regulatory Commission has issued an order largely affirming its transmission planning and cost allocation rule, with changes to enhance the ability of state regulators to take part in the planning process. The order is in response to requests for rehearing of the original order – Order No. 1920 – adopted in May…...
The Biden administration is accelerating efforts to secure its clean energy and climate accomplishments, advancing rules and funding programs to drive decarbonization. Recent initiatives, such as methane emission rules and clean energy investments, aim to solidify progress achieved during the administration's tenure. However, the incoming Trump administration raises concerns of potential policy reversals, similar to the sweeping rollbacks seen in 2017.
The Biden administration is accelerating efforts to secure its clean energy and climate accomplishments, advancing rules and funding programs to drive decarbonization. Recent initiatives, such as methane emission rules and clean energy investments, aim to…Read the full report …...
The New York Independent System Operator on Nov. 21 released its 2024 Reliability Needs Assessment, or RNA, which evaluates the reliability of the state’s power grid from 2028 to 2034 based on projected peak power demand, planned transmission system upgrades, and anticipated changes in the generation mix over the next decade. The RNA highlights a…...
