The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row. Crude oil production in the United States, including condensate, averaged 12.9 million barrels per day (b/d) in 2023, breaking the previous U.S. and global … [continued]
The US Securities and Exchange Commission (SEC) has finally released its climate emission disclosure rules. Investors have been worried about these rules and the implications of Scope 3 transparency on their portfolios, so they asked the SEC for help in making prudent financial decisions. In turn, regulators within the SEC … [continued]
Since early January 2024, U.S. refinery utilization has decreased 11%, falling as low as 81% during the two weeks ending February 9 and February 16, and briefly dropped below the five-year (2019–2023) low. Although U.S. retail average prices for gasoline and diesel are below 2023 prices for this time of year, … [continued]
U.S. crude oil production averaged 13.3 million barrels per day (b/d) in December 2023, following sustained productivity increases at new wells, according to our latest Petroleum Supply Monthly (PSM). U.S. crude oil production has increased to record highs since 2010 and has risen even more quickly in recent months. These record … [continued]
Crude oil processing, or refinery runs, in China averaged 14.8 million barrels per day (b/d) in 2023, an all-time high. The record processing came as the economy and refinery capacity grew in China following the country’s COVID-19 pandemic responses in 2022. China has increased refinery capacity more than any other country in … [continued]
The U.S. benchmark Henry Hub daily natural gas price averaged $1.50 per million British thermal units (MMBtu) on February 20, 2024, the lowest price in inflation-adjusted dollars since at least 1997, according to data from Refinitiv Eikon. High natural gas production, low natural gas consumption, and higher natural gas inventories than the … [continued]
The United States was again the largest supplier of liquefied natural gas (LNG) to Europe (EU-27 and the UK) in 2023, accounting for nearly half of total LNG imports, according to data from CEDIGAZ. Last year marks the third consecutive year in which the United States supplied more LNG to Europe … [continued]
Who is to blame that the world is off track to meet its climate goals? A major fossil fuel company yuckity-yuk says it’s you, Mr. and Ms. Public, because you can’t handle the cost transparency reality of making the transition to renewables. You heard it right. Darren Woods, chief executive … [continued]
Carbon capture and sequestration in all of its various ineffective, inefficient and expensive forms is having another run up the hype cycle. Nothing has really changed. The problems still exist. The alternatives are still better. The potential for use is still minuscule. And so, the CCS Redux series, republishing old … [continued]
The “Electrify Everything” movement is full steam ahead in American homes, according to the latest data from AHRI which tracks annual shipments of furnaces, heat pumps, and water heaters. Heat pumps for space heating and electric water heaters have set new records, and gas equipment continued to decline as a … [continued]
