Energy Tomorrow Blog
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
Posted June 7, 2012
Posted May 22, 2012
Posted May 15, 2012
Posted January 23, 2012
According to the U.S. Energy Information Administration (EIA), the world’s demand for energy is going to increase by nearly 50 percent by 2035. Based on EIA projections, this graphic from API’s 2012 State of American Energy report shows that oil and natural gas is expected to supply 52 percent of that energy, only slightly less than today’s share (55 percent).
Posted September 29, 2011