January 28, 2021 The timing and magnitude of wind turbine installations in the United States are often driven by tax incentives. The U.S. production tax credit (PTC), a per-kilowatthour (kWh) credit for electricity generated by eligible renewable sources, was first enacted in 1992 and has been extended and modified in the years since. At the end of December 2020, Congress … [Read more...] about U.S. wind energy production tax credit extended through 2021
Six states accounted for more than half of U.S. jet fuel consumption in 2019
January 27, 2021 In 2019, more than half of the jet fuel consumed in the United States was consumed in California, Texas, Florida, New York, Illinois, and Georgia, according to the U.S. Energy Information Administration’s (EIA) State Energy Data System. These states are home to many of the nation’s busiest airports and headquarters for many of the largest U.S. … [Read more...] about Six states accounted for more than half of U.S. jet fuel consumption in 2019
EIA expects gasoline and diesel prices to increase as U.S. economy recovers
January 25, 2021 National average motor gasoline and diesel prices in 2020 were the lowest since 2016: $2.17 per gallon (gal) for gasoline and $2.55/gal for diesel, according to the U.S. Energy Information Administration’s (EIA) Gasoline and Diesel Fuel Update. EIA expects that economic recovery and greater demand for transportation fuels will lead to higher prices for … [Read more...] about EIA expects gasoline and diesel prices to increase as U.S. economy recovers
In 2019, oil and lease condensate proved reserves were flat; natural gas reserves declined
January 22, 2021 In 2019, proved U.S. reserves of crude oil and lease condensate increased by 0.1%, and proved natural gas reserves declined by 1.9%, according to the U.S. Energy Information Administration's (EIA) recently released Proved Reserves of Crude Oil and Natural Gas in the United States, Year-End 2019 report. Proved reserves of oil and natural gas each rose annually … [Read more...] about In 2019, oil and lease condensate proved reserves were flat; natural gas reserves declined
EIA expects crude oil prices to average near $50 per barrel through 2022
January 21, 2021 In its January Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) expects global demand for petroleum liquids will be greater than global supply in 2021, especially during the first quarter, leading to inventory draws. As a result, EIA expects the price of Brent crude oil to increase from its December 2020 average of $50 per … [Read more...] about EIA expects crude oil prices to average near $50 per barrel through 2022