(Tue, 21 Nov 2017) This release covers 25 new tables, which include data on consumption and electricity use by establishment size; ratios of fuel consumption per dollar value of shipments, per dollar value added, and per employee; energy prices, expenditures and quantities purchased; and reasons that fuels were not switchable. EIA expects the 3rd and final set of MECS tables to be released at the end of December.
(Mon, 20 Nov 2017) Growth in economic activity (measured as gross domestic product) has tended historically to be coupled with increases in electricity use as populations grow and generate more goods and services. However, more recently this relationship has been decoupling in many countries.
(Fri, 17 Nov 2017) Since 2013, six commercial nuclear reactors in the United States have shut down, and an additional eight reactors have announced plans to retire by 2025. The retirement process for nuclear power plants involves disposing of nuclear waste and decontaminating equipment and facilities to reduce residual radioactivity, making it much more expensive and time consuming than retiring other power plants.
(Thu, 16 Nov 2017) EIA projects that growth in global carbon dioxide (CO2) emissions from energy-related sources will slow despite increasing energy consumption. EIAâs <em>International Energy Outlook 2017</em> (IEO2017) Reference case projects that energy-related CO2 emissions will grow 0.6% per year from 2015 to 2040, a slower rate of growth than the 1.8% per year experienced from 1990 to 2015.
(Thu, 16 Nov 2017) EIA hosted a webinar discussing trends in U.S. crude oil production during 2017 and the implications for 2018 and 2019. Presenters included: Artem Abramov (Rystad Energy), Phillip Dunning (Drillinginfo), Harold Hamm (Continental Resources), and John Staub (EIA).
(Wed, 15 Nov 2017) In its November <em>Short-Term Energy Outlook</em> (STEO), EIA forecasts the price difference between West Texas Intermediate (WTI) crude oil priced at Cushing, Oklahoma, and Brent, the global crude oil price benchmark, to remain at $6 per barrel (b) through the first quarter of 2018 before narrowing to $4/b during the second half of 2018.
The iron ore forward curve has made history in November by recording the longest period of contango* in its brief existence.
(Tue, 14 Nov 2017) Russia exported more than 5.2 million barrels per day (b/d) of crude oil and condensate and more than 2.4 million b/d of petroleum products in 2016, mostly to countries in Europe. Exports of crude oil and petroleum products represented nearly 70% of total Russian petroleum liquids production in 2016.
Ever closer relations between Saudi Arabia and Russia, the world’s two largest oil exporters, look like a nightmare for China, the world’s largest oil importer. However, as the originator of demand in a world where peak oil consumption hovers on the horizon, it is Beijing that ultimately holds the whip hand.
(Mon, 13 Nov 2017) Carbon dioxide (CO2) emissions associated with coal consumption in the United States fell by a record 231 million metric tons in 2015. More than 60% of the annual decrease occurred in 10 states, led by Texas, Indiana, Ohio, Illinois, and Pennsylvania, according to EIAâs state-level carbon dioxide emissions data.
