The U.S. exported more liquefied natural gas compared to any other nation in 2023, according to an April 1 report published by the U.S. Energy Information Administration. U.S. LNG exports averaged 11.9 billion cubic feet per day (Bcf/d) during 2023, up 12 percent from the previous year. Annual LNG exports from Australia and Qatar, the…...
The U.S. Energy Department announced the selection of more than 100 projects to receive $4 billion in advanced energy tax credits funded by the 2022 Inflation Reduction Act to accelerate clean energy manufacturing and reduce industrial emissions. The projects, selected under the Qualifying Advanced Energy Project Tax Credit, or 48C, program, span across 35 states…...
A multi-state solicitation by Connecticut, Massachusetts and Rhode Island received project proposals from four project developers, according to a March 27 press release by the Connecticut Department of Energy and Environmental Protection. Connecticut issued a solicitation for up to 2,000 megawatts of offshore wind aligning with the procurement initiatives of Massachusetts and Rhode Island. Last…...
Shipping traffic from the Port of Baltimore, the second-largest coal exporting hub in the U.S., has temporarily paused after the collapse of the Francis Scott Key Bridge into the Patapsco River on March 26, according to a report published by the U.S. Energy Information Administration. This has impacted U.S. energy related trading dynamics. The Port…...
The U.S. Energy Department on March 25 announced up to $22 million in investment to enhance the siting and permitting process for the development of large-scale renewable energy facilities across six states. The Renewable Energy Siting through Technical Engagement and Planning, or R-STEP, program will distribute $10 million among six projects based in Indiana, Iowa,…...
The U.S. Energy Department on March 25 announced up to $6 billion for 33 industrial decarbonization projects spanning over 20 states. This marks the single largest industrial decarbonization investment in the U.S. These initiatives prioritize community engagement through comprehensive Community Benefits Plans, aiming to foster local economic development and environmental improvement. The funding, supported by…...
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…
