Energy Information Administration (EIA)

Japanese Refineries Close As The Country’s Petroleum Consumption Falls

In our Short-Term Energy Outlook, we forecast the lowest annual petroleum consumption in Japan in 2024 since at least 1980, in part due to its aging and declining population. Japan’s reduced consumption is already affecting its refining industry. Japanese refiner ENEOS permanently closed a 120,000-barrel-per-day (b/d) refinery in western Japan in mid-October 2023, … [continued]

Data source: U.S. Energy Information Administration, Gasoline and Diesel Fuel Update

U.S. Gas Prices Down As Gasoline Demand Down

The U.S. Energy Information Administration reports that gas prices in the U.S. are down 10% compared to the same time last year. Or, actually, taking inflation into account, they are down 13%! This is despite an expected 2% increase in miles traveled during Thanksgiving weekend. California was a notable part … [continued]

EIA Expects U.S. Annual Solar Electricity Generation To Surpass Hydropower in 2024

We forecast that the United States will generate 14% more electricity from solar energy than from hydroelectric facilities in 2024, according to our Short-Term Energy Outlook (STEO). Our forecast is driven by continued growth in new utility-scale and small-scale solar facilities. For the first time in September 2022, the United States had … [continued]