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EIA: Proved reserves of US natural gas increased 32% during 2021

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Proved reserves of natural gas in the United States grew to a new record of 625.4 trillion cubic feet (Tcf) in 2021, a 32% increase from 2020, according to the US Energy Information Administration’s (EIA’s) recently released Proved Reserves of Crude Oil and Natural Gas in the United States, Year-End 2021 report.

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EIA expects significant increases in US wholesale electricity prices this summer

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The US Energy Information Administration (EIA) forecasts that prices in US wholesale electricity markets this summer will significantly increase over last summer’s prices. EIA forecasts summer electricity prices will average $98/MWh in California’s CAISO market and $90/MWh in the ERCOT market in Texas. MMBtu in May 2021.

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Electrify America introduces new pricing structure featuring kWh pricing in 23 states and DC; reduced rates for states with minute-based pricing

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Electrify America introduced a new pricing structure designed to provide electric vehicle (EV) owners with consistent and transparent rates across its public brand-neutral fast-charging network. Kilowatt-Hour Pricing—Rates as Low as $0.31 Cents Per kWh. Rates start at $0.31 per kilowatt hour. Rates start as low as $0.12

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EIA: US, Qatar and Russia provided almost 70% of liquefied natural gas received in Europe in 2021

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In 2021, a large share of Europe’s supply of liquefied natural gas (LNG) originated in the United States, Qatar, and Russia. Rising US LNG exports are the result of both natural gas supply challenges in Europe and the sizable price differences between natural gas produced in the United States and current prices at European trading hubs.

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EIA: Petroleum and natural gas will be the most-used fuels in the US through 2050

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In this case—which reflects only current laws and regulations—renewable energy is the fastest-growing energy source through 2050, while petroleum remains the largest share of energy consumption throughout that period, followed by natural gas.

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IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

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Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. Investment slumped by 30% in 2020.

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EIA: California drought will decrease hydropower, increase natural gas use and CO2 emissions

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EIA expects that level of decrease in hydropower generation would lead to an 8% increase in California’s electricity generation from natural gas, a 6% increase in energy-related carbon dioxide (CO 2 ) emissions in the state, and an average 5% increase in wholesale electricity prices throughout the West given the current system configuration.