U.S. natural gas usage for power generation during summer 2024 is forecast to reach close to the record volume consumed last year, according to a May 30 report published by the U.S. Energy Information Administration. The agency projects that U.S. natural gas usage for power generation will average 44.7 billion cubic feet per day (bcfd)…...
The Biden administration has launched a new initiative to address the challenges and opportunities faced by the power grid in the 21st century. The initiative, Federal-State Modern Grid Deployment Initiative, is a collaboration with 21 states, federal agencies, and stakeholders to facilitate quick and cost-effective adaptation of the power grid. Participating states will strive to…...
The Biden administration on May 28 announced a policy statement and new principles to develop high-integrity voluntary carbon markets, or VCMs, that can unlock private capital to drive decarbonization efforts. The move is intended to support the responsible development of VCMs with “guardrails in place,” so that the market is equipped to spur credible climate…...
U.S. biodiesel imports increased twofold during 2023 compared to 2022 and were recorded at 33,000 barrels per day (b/d), according to a May 28 report published by the U.S. Energy Information Administration. Moreover, U.S. biodiesel imports continued to increase in the first two months of 2024. Majority of the biodiesel imports come from Germany, whereas…...
The Federal Energy Regulatory Commission has released its annual summer market and reliability report, providing an outlook for energy markets and electric reliability for the period of June-September 2024. The report forecasts warmer-than-average summer temperatures that increase electricity demand and adequate generating availability, although extreme conditions could challenge specific regions. Data center consumption has been…...
The U.S. Energy Department’s Office of Petroleum Reserves has announced plans to release one million gas barrels from the Northeast Gasoline Supply Reserve to help lower prices during summer. The department said the initiative is strategically timed to ensure sufficient supply for the tri-state and northeast regions during a period of high demand – between…...
The retail price of regular U.S. gasoline averaged $3.58 per gallon(gal) as of the Monday before Memorial Day, according to a May 23 report published by the U.S. Energy Information Administration. The retail price of U.S. gasoline is one percent higher compared to the same period last year. The price increase can be attributed to…...
Meteorologists are predicting a stronger hurricane season this year, which elevates risk for weather associated production disruptions in the U.S. natural gas and oil sectors, according to a May 22 report published by the U.S. Energy Information Administration. Reports from AccuWeather are forecasting around 20 to 25 storms this year, with a likelihood of around…...
Electricity consumption from light duty vehicles surpassed that of rail systems in the U.S. in 2023, according to a May 20 report from the U.S. Energy Information Administration. Estimates of electricity consumption in the transport sector for the last five years show rail transport consuming the most electricity until 2022. This change reflects the increasing…...
U.S. President Joe Biden has signed legislation banning uranium imports from the Russian Federation, and to boost the domestic nuclear industry. The legislation, titled Prohibiting Russian Uranium Imports Act, will take effect on Aug. 11. In addition to the ban, the U.S. uranium market will receive $2.72 billion in federal funding to expand uranium enrichment…
Hourly natural gas fired power generation in Texas rose to 49.4 gigawatts (GW) for the hour starting 7pm on Jan. 16, 2024, according to a May 16 report published by the U.S. Energy Information Administration. This was one percent more than the preceding winter high of 48.8 GW recorded on December 23,2022 and around four…...
The share of hybrid vehicles, plug-in hybrid electric vehicles and battery electric vehicles across the U.S. declined to 18 percent of total new light duty vehicle sales in the U.S. during the first quarter of 2024 compared to 18.8 percent in the last quarter of 2023, according to a May 14 report published by the…...