Energy Tomorrow Blog
Posted March 12, 2020
Global oil markets have shifted dramatically in recent days and weeks, and the stakes are high for the United States energy revolution, retirement savings and the broader economy.
Let’s start with crude oil prices. Per Bloomberg, the per-barrel price of West Texas Intermediate (WTI) on March 9 was about half of what it was on Dec. 31, falling to $31.13 from $61.06.
Posted March 11, 2020
Several states are taking the lead to promote electric vehicles (EVs), and they’re not the states that produce them. From California and Oregon to New Jersey and Maryland, their promotions are mainly efforts intended to reduce carbon dioxide emissions.
But even with large state incentives, are consumers onboard?
Posted September 25, 2019
Energy is essential to a modern standard of living, and as the leading energy sources, natural gas and oil are foundational to almost everything we do – lighting our homes, heating our hospitals and powering our workplaces.
The U.S. is the world’s leading natural gas and oil producer, which is critically important given new projections that global energy consumption will increase nearly 50% by 2050. Though reliable access to energy often is taken for granted in this country, people in other parts of the world struggle to obtain the energy needed for sustainable development and to empower basic human progress.
According to the International Energy Agency (IEA), nearly one in eight people around the world lives without electricity, and 2.7 billion people currently are without access to clean cooking facilities. Without power for heating, lighting and advanced technologies, human potential is severely limited. And in the absence of cleaner fuels, people must use coal, kerosene, biomass and other energy sources to prepare food, which contributes to harmful and unnecessary indoor air pollution.
Posted June 19, 2019
Another big indication of the global impact of the U.S. energy revolution comes in the International Energy Agency’s (IEA) oil market report and its outlook for 2020, which says the United States will be responsible for virtually all of this year’s increase in oil supply. …
The fact that the U.S. is projected to fill this role is significant in terms of global market stability and the world’s security – that is, the United States as this growth supplier, versus less stable and/or less friendly regimes.
Posted March 26, 2019
Natural gas is playing a lead role in meeting rapidly increasing global energy demand, and its growing use in electricity generation has resulted in significant savings in carbon dioxide emissions worldwide. These points were echoed by the International Energy Agency (IEA) in its Global Energy and CO2 Status Report released this week.
Posted November 15, 2017
Posted June 12, 2015
Wall Street Journal – Low oil prices and economic growth have helped drive up consumer demand for energy across the world in 2015, the International Energy Agency said Thursday, a phenomenon seen from U.S. gasoline stations to Chinese auto dealerships.
The IEA’s closely watched oil-market report lent some support to an idea pushed by the Organization of the Petroleum Exporting Countries and other producers: that collapsing oil prices would spur more consumer demand and eventually send prices back up. The benchmark U.S. oil price hit a six-month high on Wednesday.
The IEA said world demand for oil would increase by 1.4 million barrels a day this year, 300,000 barrels a day faster than it previously forecast, to a daily average of 94 million barrels this year. Global demand in 2014 was about 92.6 million barrels a day, the IEA said.
Posted December 3, 2013
International Energy Agency (IEA) Chief Economist Fatih Birol was at CSIS this week, highlighting the organization’s findings in its 2013 World Energy Outlook. The report focuses on global energy demand growth, the future energy mix and the sources of energy. Key takeaways from Birol’s presentation:
- The United States could become the world’s leading oil producer as early as 2015, two years earlier than IEA projected a year ago, Birol said.
- About two-thirds of the growth in global energy demand between now and 2035 will come from Asia.
- U.S. energy production, especially surging natural gas output from shale via hydraulic fracturing, is creating energy cost differentials that make American products more competitive in the global market.
Posted February 22, 2013
Gasoline prices have been climbing. The U.S. Energy Information Administration (EIA) reports:
The average U.S. retail price for regular motor gasoline has risen 45 cents per gallon since the start of the year, reaching $3.75 per gallon on February 18. Between January 1 and February 19, the price of Brent crude, the waterborne light sweet crude grade that drives the wholesale price of gasoline sold in most U.S. regions, rose about $6 per barrel, or about 15 cents per gallon.
Posted December 11, 2012