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

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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.

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EIA expects significant increases in US wholesale electricity prices this summer

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The US Energy Information Administration (EIA) forecasts that prices in US wholesale electricity markets this summer will significantly increase over last summer’s prices. EIA forecasts summer electricity prices will average $98/MWh in California’s CAISO market and $90/MWh in the ERCOT market in Texas.

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Study Concludes Peak Coal Will Occur Close to 2011

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A multi-Hubbert analysis of coal production by Tadeusz Patzek at The University of Texas at Austin and Gregory Croft at the University of California, Berkeley concludes that the global peak of coal production from existing coalfields will occur close to the year 2011. The CO 2 emissions from burning this coal will also decline by 50%.

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GlobalData: Global coal production set to grow to 2022, despite major players scaling down capacities

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Although Germany, the UK, US, Canada and Ukraine are phasing out domestic coal production capacity, expansion of production capacity in countries such as India and Indonesia is predicted to generate modest annual growth of 1.3% in coal production over the next four years, with output reaching 7.6 to 7,188.8 to 7,194.1 Mt in 2018.

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IBM introduces new wind and solar forecasting system for utilities; big data analytics and weather modeling to predict output

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The solution combines weather prediction and big data analytics to forecast accurately the availability of wind power and solar energy. By utilizing local weather forecasts, HyRef can predict the performance of each individual wind turbine and estimate the amount of generated renewable energy.

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

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 A high level of uncertainty remains in our outlooks, but we have consistently forecast that elevated crude oil prices would help drive record-level annual US oil production levels in 2023. million barrels per day this year and 12.8

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Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

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The result will be renewables eating up more and more of the existing market for coal, gas and nuclear. The levelized cost of electricity (LCOE) from new PV plants is forecast to fall a further 71% by 2050, while that for onshore wind drops by a further 58%. Coal emerges as the biggest loser in the long run. NEO 2018 sees $11.5

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