Fuel economy measures and green building technologies readily available today could cut US oil consumption in half over the next 20 years, saving an estimated 11 million barrels every day by 2035, according to an analysis by the Union of Concerned Scientists (UCS). TheHalf the Oil Planslashes ...
consumption of solar-generated electricity to increase a further 27.3% in 2022 and 25.2% in 2023. By September 2023, EIA expects U.S. natural gas production to reach an average of 98 billion cubic feet per day for the first time and then to average 98.2 billion cubic feet per day the ...
The US is the world’s second-biggest electricity system, its second-biggest greenhouse gas emitter, its biggest oil consumer, its largest producer of natural gas and tied for first largest exporter of liquefied natural gas. The US energy system is very big; it is also increasingly dynamic. C...
Then India refines that same Russian oil and exports it onward to the U.S. and Europe. So the West gets Russian oil, without getting its hands dirty. “U.S. treasury officials have two main goals: keep the market well supplied and deprive Russia of oil revenue,” Ben Cahill, a senior...
Global energy consumption by source. Credit: Energy Institute Statistical Review 2023 From a commercial perspective, the American majors' more determined focus on their core oil and gas business has been rewarded. ExxonMobil'searnings havebeensmashing estimates, for instance. As CEO Darren Woodsput ...
EIA Crude Oil Stocks Change for May/02 in United States is -2.032M, higher than the previous value of -2.696M. The forecast was -1.7M. 2025/05/07 22:30 CST Recommend 0 Positive 2 Negative 0 <IPO>XPENG-W Purportedly Plans to Spin off Flying Car Subsidiary, XPeng AeroHT, for List...
The rebound in longer cross-border flights, however, lags the recovery in the domestic market – explaining why current jet fuel consumption is below 2019 levels while traveler numbers are roughly in line. Incremental gains in aircraft efficiency also contributed to capping oil demand. ...
“Because of the industry’s strong emphasis on capital discipline, reaching peak production should be realistic in 2023, but not before then,” he said. “And it’s never going to grow at a rapid rate ever again. The days of US oil supply growing double digits on sustainable basis, thos...
the report was an update on inflation from the prior quarter, as measured by the Fed’s preferred gauge, the Personal Consumption Expenditures price index. The latest data showed prices ticked up to a 3.4% annualized rate in the first quarter compared to 1.8% in the last quarter of 2023. ...
The U.S. Energy Information Administration expects U.S. crude oil production to peak in 2030, while OPEC production is expected to continue rising through 2050.23 Much of the growth in energy consumption is expected to take place in developing Asian countries, where petroleum liquids demand is ex...