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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). EIA also published its annual Summer Electricity Industry Outlook , which forecasts that continued US economic growth will increase electricity use by 0.4%

Oil 344
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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. EIA forecasts that the European benchmark Brent crude oil price will average less than $80 per barrel in 2024, more than 20% lower than in 2022. per gallon in 2023 and $3.10

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EIA expects 7% increase in US energy-sector CO2 emissions as economic activity increases during 2021

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Increased economic activity and a changing fuel mix in the electric power sector in 2021 will lead to a significant increase in energy-related carbon dioxide emissions this year, according to the US Energy Information Administration’s (EIA) August Short-Term Energy Outlook (STEO). Gasoline prices averaged $3.14

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3.8% drop in EU’s greenhouse gas emissions in 2019; transport emissions rise

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Total greenhouse gas emissions in the European Union (EU) decreased by 3.8% The large decline in emissions, achieved before the COVID-19 crisis, was mainly due to reduced coal use for power generation. For road transport, the increase was mostly due to higher gasoline consumption in passenger cars.

2019 243
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Kentucky electric cars now pay two taxes where gas cars only pay one

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Photo by Mobilus in Mobili on Flickr As of January 1st, Kentucky has implemented not one but two new taxes on electric vehicles, both of which are individually higher than what gas vehicles pay on similar units of energy. These rates on public charging are notably higher than the roughly 11% tax that Kentucky collects on gasoline (28.7

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EIA expects US motor fuel consumption to increase this summer, but remain below 2019 levels

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EIA also forecasts the Brent crude oil price will average $64 per barrel this summer, a 78% increase from last summer’s average of $36 per barrel. That price increase paired with an increase in gasoline and diesel demand will likely increase the cost of regular gasoline and diesel fuel this summer. gal last summer.

2019 186
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Gas prices due to drop in 2024, as EVs plug into cleaner energy

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The cost of gasoline and the carbon footprint of EVs could both fall in the new year. Energy Information Administration (EIA) expects combined electricity generation from solar and wind to exceed coal for the first time in 2024. Gas prices, meanwhile, are expected to decrease in 2024. gas prices to average $3.38

Cleaner 52