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EIA Confirms U.S. Producing More Oil Than Any Country in History
EIA Confirms U.S. Producing More Oil Than Any Country in History In mid-December, I wrote here that the U.S. had set a new annual oil production record: “The U.S. set a new annual oil production record on December 15, based on data from the Energy Information Administration. Although the official monthly numbers from the EIA won’t be […]
The World’s Most Important Oil Consumers And Producers
The World’s Most Important Oil Consumers And Producers Following last week’s release of the BP Statistical Review of World Energy 2020, I began to review and analyze the data. Today I take a deeper dive into the numbers on petroleum. Oil accounts for a third of the world’s energy consumption. That is the greatest share for any […]
Why Your Gasoline Won’t Take You As Far As it Used To
Why Your Gasoline Won’t Take You As Far As it Used To Over the weekend, I saw a passing reference on Twitter to the declining energy content of gasoline. Intuitively I know this to be correct for reasons I discuss below. But the poster linked to data from the Energy Information Administration (EIA) that I hadn’t […]
Why Oil Prices Rose And Crashed In 2018
Why Oil Prices Rose And Crashed In 2018 Last week the price of West Texas Intermediate (WTI) crude oil, the primary U.S. benchmark, fell to a 17-month low. The price, $45.88/bbl, marks a stunning fall from a price that closed at $76.40/bbl on October 3rd. So, what has caused this roller coaster ride, and where are prices […]
No, The U.S. Is Not A Net Exporter Of Crude Oil
No, The U.S. Is Not A Net Exporter Of Crude Oil Last week Bloomberg created quite a stir with this story: The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years. I have seen a number of follow-up stories that praised the significance of this development, but others laughed it […]
Is This The Answer To Global Warming?
Is This The Answer To Global Warming? In my previous article – Indisputable Facts On Climate Change – I addressed some of the things we know to be true as it relates to carbon dioxide and global temperatures. Note that I didn’t try to connect any number of potential threads, nor make dire predictions. My article was […]
Trump Claims Victory As Oil Prices Plummet
Trump Claims Victory As Oil Prices Plummet Oil prices are now down over 20 percent from recent highs, and President Trump knows exactly where the credit for that belongs. “If you look at oil prices they’ve come down very substantially over the last couple of months,” President Trump said in a news conference last week. […]
The U.S. Remains The Natural Gas King
The U.S. Remains The Natural Gas King Data from the 2018 BP Statistical Review of World Energy show that last year the U.S. maintained a healthy lead as the global natural gas powerhouse. In 2017, the U.S. produced an average of 71.1 billion cubic feet per day (Bcf/d) of natural gas. That’s a 1.0 percent increase from 2016 production, but not […]
Global Carbon Dioxide Emissions Set New Record
Global Carbon Dioxide Emissions Set New Record In April of this year, the Mauna Loa Observatory in Hawaii recorded an average concentration of atmospheric carbon dioxide above 410 parts per million (ppm). This was the highest monthly average in recorded history, and in fact according to ice core records it is the highest value in at least […]
Global Energy Consumption Soars To New Heights
Global Energy Consumption Soars To New Heights This week the 2018 BP Statistical Review of World Energy was released, which covers energy data through 2017. It is the definitive source for global energy production and consumption figures, and a primary source of data for numerous companies, government agencies and non-government organizations. I will take a […]
Are We Sleepwalking Into The Next Oil Crisis?
Are We Sleepwalking Into The Next Oil Crisis? One school of thought is that future oil demand is set to decline because consumers will have better options. Many in this “peak demand” camp believe that the growth of electric vehicles will soon make oil obsolete. That’s a relatively painless view of the future and is […]
EIA’s Shocking U.S. Oil Production Predictions
EIA’s Shocking U.S. Oil Production Predictions Between 2010 and 2015, annual oil production in the U.S. grew by four million barrels per day (BPD). Production dipped in 2016, but then U.S. crude oil production again rose by 1.2 million BPD between January and December 2017, to levels that haven’t been seen since the early 1970s. […]
The Billion Dollar Fuel Mandate Gone Wrong
The Billion Dollar Fuel Mandate Gone Wrong This year begins the ninth year of cellulosic ethanol mandates in the U.S. Today I want to give a brief review of cellulosic ethanol, review the original targets, and examine the current status of the industry. What is Cellulosic Ethanol? Conventional ethanol production utilizes a fermentation process to […]
The 10 Energy Stories That Defined 2017
The 10 Energy Stories That Defined 2017 As 2017 comes to a close, it’s time to review the top energy stories of the year. There are several stories that could compete for the year’s top spot, but this year I have decided to list the stories roughly in the order they occurred during the year. […]
OPEC’s Trillion Dollar Mistake
OPEC’s Trillion Dollar Mistake A few days after Christmas I appeared on CNBC Asia’s Squawk Box to discuss the volatility in the oil market. Bernie Lo asked a question about OPEC’s strategy, and I characterized their decision to defend market share as “a big, costly mistake” that had already cost the group over $500 billion in 2015 […]
