Natural gas prices at SoCal Citygate, the main price hub in Southern California, averaged $3.61 per million British thermal units (MMBtu) during December 2023, according to a March 25 report published by the U.S. Energy Information Administration. The average spot price during December 2023, was the lowest December spot price in eight years, when adjusting…...
Brent crude oil and petroleum product prices are projected to increase for the remainder of 2024, according to a March 21 report published by the U.S. Energy Information Administration. The projected price increase can be attributed to the announcement that OPEC+ will extend the current voluntary production cuts through the second quarter of 2024. The…...
The U.S. Energy Department on March 20 opened applications for the 2024 Renew America’s Schools Prize, earmarking $180 million for school districts nationwide. The initiative aims to support strategic partnerships to implement energy upgrades in K-12 schools. The funding, supported by the 2021 Infrastructure Investment and Jobs Act, is aimed at enhancing energy efficiency, reducing…...
The U.S. Energy Department issued a report on March 18 discussing the potential role of next generation geothermal technologies in the clean energy transition. The report, titled “Pathways to Commercial Liftoff: Next-Generation Geothermal Power,” is the latest in a series of reports assessing how the U.S. can decarbonize by 2050. The report complements the objectives…...
The fifth auction of greenhouse gas allowances under Washington’s cap-and-invest program sold all allowances offered, with current vintage allowances settling at $25.76 per allowance, which is more than 50 percent lower compared to the previous quarterly auction, according to the results released on March 13 by the state’s Department of Ecology. The clearing price is…...
President Joe Biden’s budget proposal for fiscal year 2025 includes $51 billion in discretionary funds for the U.S. Energy Department, a 7.5 percent increase from the 2023 level. The proposal reinforces the administration’s commitment to tackle climate, energy, environmental, and nuclear security challenges. With a focus on combating climate change and promoting economic growth, the…
The U.S. Energy Department on March 8 announced a $425 million funding initiative for the second round of projects under the Advanced Manufacturing and Recycling Grant Program, building upon the success of the first round in 2023. The initial round resulted in $275 million in federal investments distributed across seven selected projects in seven states…....
The California Public Utilities Commission has issued a decision initiating the first phase of the California Clean Miles Standard Program, a joint effort with the California Air Resources Board, to devise innovative strategies for transportation companies to combat emissions. The move sets the path for transportation firms to electrify their fleets to help the transportation…
U.S. gasoline and diesel prices rose during February although retail average prices are below 2023 levels for this time of the year, according to a March 6 report published by the U.S. Energy Information Administration. The price increase can be attributed to the sharp decline in refinery utilization and decreasing regional inventories across the major…...
U.S. crude oil production has risen significantly over the last decade, in line with productivity increases at new wells according to a Mar .5 report published by the U.S. Energy Information Administration. The U.S. became the world’s largest crude oil producer in 2018 and as of October 2023 accounts for about 16 percent of total…...
The Environmental Protection Agency’s upcoming rule to limit carbon dioxide emissions from fossil fuel-fired power plants will omit existing natural gas-fired plants, according to a Feb. 29 statement. The rule is expected in April. The agency plans to take a new approach to address emissions from the existing gas-fired fleet, covering more pollutants and ensuring…...
The U.S. Energy Department on Feb. 27 announced over $366 million for 17 projects in rural and remote areas across 20 states, benefiting 30 Tribal Nations and communities. The projects are a part of the Energy Improvements in Rural or Remote Areas, or ERA, program. This funding, supported by the 2021 Infrastructure Investment and Jobs…...
