Remove 2019 Remove Coal Remove Oil Remove Price
article thumbnail

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

Green Car Congress

The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 million barrels per day set in 2019. 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).

Oil 344
article thumbnail

Rhodium Group estimates US GHG fell 2.1% in 2019, driven by coal decline

Green Car Congress

in 2019 based on preliminary energy and economic data. This decline was due almost entirely to a drop in coal consumption. Coal-fired power generation fell by a record 18% year-on-year to its lowest level since 1975. All told, net US GHG emissions ended 2019 slightly higher than at the end of 2016. Coal-driven decline.

Coal 370
article thumbnail

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

Green Car Congress

According to EIA’s January Short-Term Energy Outlook (STEO) , global liquid fuel consumption will exceed 100 million barrels per day, on average, in 2023 for the first time since 2019, then average more than 102 million barrels per day in 2024. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.

article thumbnail

EIA forecasts US fossil fuel production to reach new highs in 2023

Green Car Congress

After declining in 2020, the combined production of US fossil fuels (including natural gas, crude oil, and coal) increased by 2% in 2021 to 77.14 Crude oil accounted for 30%, coal for 15%, and natural gas plant liquids (NGPLs) for 9%. In 2020, US coal production had fallen to its lowest level since 1964.

Coal 448
article thumbnail

IEF, IHS Markit: deepening underinvestment in hydrocarbons raises specter of continued price shocks and volatility

Green Car Congress

Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. Investment slumped by 30% in 2020.

Price 416
article thumbnail

EIA expects annual US crude oil production to surpass pre-pandemic levels in 2023

Green Car Congress

The US Energy Information Administration (EIA) forecasts that US oil production will average 12.4 million barrels per day during 2023, surpassing the record high for domestic crude oil production set in 2019. EIA also expects OPEC to increase its crude oil production to 28.9 million barrels per day in 2021.

Oil 199
article thumbnail

IEA: global CO2 emissions rebounded to their highest level in history in 2021; largely driven by China

Green Car Congress

billion tonnes, their highest ever level, as the world economy rebounded strongly from the COVID-19 crisis and relied heavily on coal to power that growth, according to new IEA analysis. Change in CO 2 emissions by fossil fuel, relative to 2019 levels, 2019-2021. In 2021 alone, China’s CO 2 emissions rose above 11.9

Emissions 370