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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). EIA also published its annual Summer Electricity Industry Outlook , which forecasts that continued US economic growth will increase electricity use by 0.4%

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. EIA forecasts that the European benchmark Brent crude oil price will average less than $80 per barrel in 2024, more than 20% lower than in 2022. per gallon in 2023 and $3.10

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EIA expects US motor fuel consumption to increase this summer, but remain below 2019 levels

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The US Energy Information Administration (EIA) forecasts an increase in demand for petroleum products during the 2021 summer driving season as the impacts of COVID-19 diminish in the United States. EIA expects the retail price of regular-grade gasoline in the United States will average $2.78 gal last summer.

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EIA expects annual US crude oil production to surpass pre-pandemic levels in 2023

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We expect that as crude oil production increases, inventories will begin to replenish and help push prices lower for gasoline, jet fuel, and other products in the short term. Other key takeaways from the latest STEO include: EIA estimates that the United States produced 1.5 —EIA Acting Administrator Steve Nalley.

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EIA projects US energy-related CO2 emissions to remain near current level through 2050; increased natural gas consumption

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In the United States, emissions associated with the consumption of petroleum fuels—motor gasoline, distillate, jet fuel, and more—have consistently made up the largest portion of CO 2 emissions. Natural gas surpassed coal to become the most prevalent fuel used to generate electricity in the United States in 2016.

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Global Carbon Project: Global carbon emissions growth slows, but hits record high

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The decline of coal use in the European Union and United States is overshadowed by surging natural gas and oil use around the world, according to the researchers. Although still a major factor in global emissions, coal has taken a hit, with global usage down 0.9% Coal use should drop a further 10% in the E.U.

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EIA STEO projects higher US crude production, increases in travel and gasoline demand

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For summer 2017, EIA forecasts motor gasoline consumption to average 9.5 EIA expects that domestic refinery production, including gasoline blendstock output, will be about 20,000 b/d lower this summer than last summer. of total gasoline consumption. For all of 2017, the forecast average price for regular gasoline is $2.39/gal,

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