As of 8:00 a.m. eastern time on September 26, Hurricane Helene was expected to make landfall as a Category 3 hurricane on the eastern part of the Florida Panhandle late Thursday with sustained winds of 115 miles per hour, creating the potential for significant disruptions to energy infrastructure. Hurricane Helene is the strongest hurricane to make landfall in the United States this hurricane season. The other three named storms that made landfall so far this hurricane season (Beryl, Debby, and Francine) were either Category 1 or 2 hurricanes.
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In the first six months of 2024, U.S. net natural gas exports (exports minus imports) averaged 12.6 billion cubic feet per day (Bcf/d), 1% (0.1 Bcf/d) more than the same period last year and 2% (0.3 Bcf/d) less than in 2023, according to our Natural Gas Monthly. Since 2019, increases in liquefied natural gas (LNG) exports and exports by pipeline to Mexico have led the growth in U.S. natural gas exports. The United States has exported more natural gas than it imports since 2017.
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The United States is the world’s largest exporter of motor gasoline (finished gasoline plus gasoline blending components), supplying over 16% of total global exports. U.S. motor gasoline exports in 2023 averaged 900,000 barrels per day (b/d), equivalent to about 10% of domestic consumption and enough to fill up the tanks of over 1.5 million SUVs per day, assuming an average tank size of 24 gallons. Other large gasoline exporters, including Singapore and the Netherlands, have never exceeded 700,000 b/d in gasoline exports. China and India have both added significant refining capacity since 2010 and have also increased gasoline exports.
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Financial results for 36 publicly traded U.S. oil exploration and production (E&P) companies show that cash from operations in the first quarter of 2024 has decreased in real terms from the first quarter of 2023 due to lower natural gas prices.
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EIA does not directly survey petroleum consumption; instead, we calculate a similar concept called product supplied from our surveys that span the U.S. petroleum industry. Although we use petroleum product supplied interchangeably with petroleum consumption, the two are not identical.
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More jet fuel has been in U.S. West Coast inventories than over the previous five years for 29 out of 35 weeks so far in 2024, according to our Weekly Petroleum Status Report (WPSR). High inventories helped reduce Los Angeles regional crack spreads for jet fuel to an average of 5 cents per gallon (gal) in August, lower than any point in the last five years, including during the onset of the COVID-19 pandemic in 2020. Crack spreads represent the price difference between products and crude oil and can be used to determine the relative value of various petroleum products for refineries to produce.
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The heat content of dry natural gas delivered in Texas, which uses the largest volume of natural gas in the United States, was among the lowest nationwide in 2023, averaging 1,018 British thermal units per cubic foot (Btu/cf), or 1.7% below the national average (1,036 Btu/cf), according to our Natural Gas Monthly.
Read More ›Tags: natural gas, ethane, Texas, states
We recently implemented a new model for forecasting crude oil and natural gas production from the U.S. Federal Offshore Gulf of Mexico (GOM) in the Short-Term Energy Outlook (STEO). In our latest outlook, we forecast that GOM production will remain relatively flat with new fields offsetting the natural production declines from existing fields.
Read More ›This article was updated September 13 to reflect corrections to data and external links.
Hurricane Francine made landfall Wednesday on the Louisiana coast before being downgraded to a tropical storm, taking some energy infrastructure offline along the U.S. Gulf Coast from Louisiana through Alabama. Detailed information on energy infrastructure and storm risks is available and regularly updated in our U.S. Energy Atlas.
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Against a backdrop of policies aimed at reducing greenhouse gas emissions, operators of a handful of natural gas plants have taken early steps to integrate hydrogen into their fuel streams. Hydrogen alone does not create CO2 emissions when combusted.
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The change in average residential electricity prices across the United States has generally mirrored the rate of inflation over the past decade, increasing by less than 1% in inflation-adjusted terms between 2013 and 2023. Without adjusting for inflation, the average retail price of electricity for the residential sector increased from a little more than 12 cents per kilowatthour (kWh) in 2013 to 16 cents per kWh in 2023.
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Natural gas pipeline takeaway capacity in the Permian Basin will soon increase as the Matterhorn Express Pipeline, with a capacity of 2.5 billion cubic feet per day (Bcf/d), is expected to begin service this month, according to EnLink Midstream, one of the project’s stakeholders.
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Utility regulators in the United States are considering increases to electricity rates again this year as electric utilities seek to cover the investments needed to maintain and expand their systems. Utilities requested rate increases in recent years to pay for improvements to transmission and distribution lines to withstand increasingly serious weather and fire events, prepare for increased electrification as state and federal clean energy legislation is implemented, and move more energy reliably, according to S&P Global Market Intelligence Capital IQ Pro.
Read More ›Tags: generation, electricity, prices, New York, California, states, Illinois, utility
Tags: generation, electricity, storage, capacity
U.S. exports of thermal coal to Asia and Africa surged in the first half of 2024, helping to drive overall U.S. coal exports (thermal and metallurgical) to 53 million short tons (MMst) from 49 MMst in the first half of 2023.
Read More ›Tags: coal, international, exports/imports, Africa, Europe