Crude oil prices will be higher in 2023 and 2024 as global supplies become tighter, the U.S. Energy Information Administration (EIA) predicted in its latest Short-Term Energy Outlook (STEO). The EIA forecasts that the average spot price for Brent, the international benchmark for global oil prices, will be $79.54 per barrel this year, up 1.1…
America Will Be Petroleum, Natural Gas Exporter Through 2050, Predicts Energy Information Administration
March 16, 2023
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The Energy Information Administration (EIA) expects the United States will remain a net exporter of petroleum and natural gas at least through the middle of this century. Its 2023 Annual Energy Outlook, released on March 15, credits that trend to “growing international demand.” Yet, the EIA also projects that zero-carbon nuclear power, natural gas, and…
US Will Be Petroleum, Natural Gas Exporter Through 2050, Government Agency Projects
March 16, 2023
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The Energy Information Administration (EIA) expects the United States will remain a net exporter of petroleum and natural gas at least through the middle of this century. Its 2023 Annual Energy Outlook, released on March 15, credits that trend to “growing international demand.” Yet, the EIA also projects that zero-carbon nuclear power, natural gas, and…
US Crude Oil Inventories Down, SPR Still at Historic Lows, But Other Petroleum Inventories Up: EIA
November 24, 2022
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With Thanksgiving approaching, the Nov. 23 weekly report from the Energy Information Administration (EIA) shows that commercial crude oil inventories in the United States fell by 3.7 million barrels–yet inventories of motor gasoline, distillate fuel, and other petroleum products increased, for an overall rise of 3.3 million in total commercial petroleum inventories. The EIA’s latest…
US Permian Oil Production Forecast to Hit Record in November: EIA
October 18, 2022
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NEW YORK—Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is forecast to rise by about 50,000 barrels per day (bpd) to a record 5.453 million bpd in November, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday. U.S. crude oil output in major…
Energy Independent No More? US Poised to Be Net Oil Importer in 2022
The United States is poised to remain a net crude oil importer in 2022 for the second consecutive year, the Energy Information Administration (EIA) stated in a new report. The world’s largest economy is projected to import an annual average of 3.9 million barrels per day this year, according to the February 2022 Short-Term Energy…
EXCLUSIVE: ‘Most Unfavorable Political and Regulatory Environment for Our Industry I Have Ever Seen’: U.S. Oil & Gas Assoc. Chief
February 14, 2022
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In exclusive comments to The Epoch Times, Tim Stewart, the president of the U.S. Oil & Gas Association, said his industry has faced unprecedented hostility from D.C. under the Biden administration. “In my 30 years of working in Washington, this has without a doubt been the most unfavorable political and regulatory environment for our industry…
EXCLUSIVE: ‘Most Unfavorable Political and Regulatory Environment for Our Industry I Have Ever Seen’ Says US Oil & Gas Assoc. Chief
February 14, 2022
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bidenConocoPhillipsdebankingeconomyEIAEnvironmentESGExxon MobilgasolineKeystone XL pipelineOilPermian BasinPolicies & ImpactsPoliticsScienceshaleshellThe Epoch Times Featured ArticlesUncategorizedUSUS NewsWall Street
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In exclusive comments to The Epoch Times, Tim Stewart, the president of the U.S. Oil & Gas Association, said his industry has faced unprecedented hostility from D.C. under the Biden administration. “In my 30 years of working in Washington, this has without a doubt been the most unfavorable political and regulatory environment for our industry…
US Coal Stockpiles Near Historic Lows
January 18, 2022
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The U.S. Energy Information Administration’s (EIA’s) latest short-term energy outlook (pdf) reveals that coal inventories in the electric power sector reached 93.7 million short tons as of December 2021—an increase since September when stockpiles hit a historic low not seen since the Carter administration. Isaac Orr, a policy fellow at the Center of the American…
‘No New Coal Plants Should Be Built’: UN Secretary-General to World Economic Forum
January 17, 2022
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In a special address to the World Economic Forum’s Davos Agenda 2022, United Nations Secretary-General António Guterres said that “no new coal plants should be built.” “This must be a priority for us all—to phase-out coal,” he said. Guterres, a former prime minister of Portugal who also previously led the Socialist International, has served as…
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