Annual Energy Outlook 2017

Size: px
Start display at page:

Download "Annual Energy Outlook 2017"

Transcription

1 Annual Energy Outlook 217 Valve Manufacturers Association of America VMA Technical Seminar 217 March 2, 217 Nashville, TN By, Director, Office of Integrated and International Energy Analysis U.S. Energy Information Administration Independent Statistics & Analysis

2 EIA mission: independent statistics and analysis EIA was created by the U.S. Congress in 1977 EIA collects, analyzes, and disseminates independent and impartial energy information to promote sound policymaking, efficient markets, and public understanding of energy and its interaction with the economy and the environment EIA is the Nation's premier source of energy information and, by law, its data, analyses, and forecasts are independent of approval by any other officer or employee of the U.S. Government EIA does not propose or advocate any policy positions VMA Technical Seminar 217, Nashville, TN

3 The U.S. has experienced a rapid increase in natural gas and oil production from shale and other tight resources U.S. tight oil production million barrels of oil per day Eagle Ford (TX) Bakken (MT & ND) Spraberry (TX & NM Permian) Bonespring (TX & NM Permian) Wolfcamp (TX & NM Permian) Delaware (TX & NM Permian) Yeso-Glorieta (TX & NM Permian) Niobrara-Codell (CO, WY) Haynesville Utica (OH, PA & WV) Marcellus (PA,WV,OH & NY) Woodford (OK) Granite Wash (OK & TX) Austin Chalk (LA & TX) Monterey (CA) Marcellus (PA,WV,OH & NY) Utica (OH, PA & WV) Haynesville (LA & TX) Eagle Ford (TX) Fayetteville (AR) Barnett (TX) Woodford (OK) Bakken (ND) Antrim (MI, IN, & OH) Rest of US 'shale' U.S. dry shale gas production billion cubic feet per day VMA Technical Seminar 217, Nashville, TN

4 Estimated U.S. shale gas production was 43.1 Bcf/d in October 216 about 61% of total U.S. dry production (7.9 Bcf/d) Natural gas production (dry) billion cubic feet per day Rest of US gas production Marcellus (PA, WV, OH & NY) Utica (OH, PA & WV) Haynesville (LA & TX) Eagle Ford (TX) Fayetteville (AR) Barnett (TX) Woodford (OK) Bakken (ND & MT) Antrim (MI, IN, & OH) Other US 'shale' Shale gas % of total Sources: EIA Natural Gas Monthly, STEO through October 216 and DrillingInfo. VMA Technical Seminar 217, Nashville, TN Shale gas production as a percent of total gas production 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% %

5 U.S. dry natural gas production is the result of continued development of shale gas and tight oil plays, alternative assumptions cause significant differences U.S. natural gas production by type trillion cubic feet shale gas and tight oil plays Dry natural gas production trillion cubic feet High Oil Price High Oil and 5 Gas Resource and Technology 4 Reference case Low Oil Price Low Oil and Gas 3 Resource and Technology 2 1 tight gas other Lower 48 onshore other Lower 48 offshore Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN

6 Reference case oil prices and production rise from current levels, price paths and production levels in the side cases are very different from those in the Reference case North Sea Brent oil price 216 dollars per barrel Crude oil production million barrels per day High Oil and Gas Resource and Technology High Oil Price Reference case Low Oil Price Low Oil and Gas Resource and Technology Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN

7 Increasing demand from industrial and electric power markets drive rising domestic consumption of natural gas in the Reference case Natural gas consumption by sector trillion cubic feet billion cubic feet per day electric power industrial transportation commercial residential Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN

8 Increased natural gas trade is dominated by liquefied natural gas exports in the Reference case Natural gas trade trillion cubic feet 8 6 liquefied natural gas (LNG) exports 216 billion cubic feet per day pipeline exports to Canada Mexico pipeline imports from Canada -1-6 LNG imports VMA Technical Seminar 217, Nashville, TN

9 U.S. LNG export levels vary across cases and reflect both the level of global demand, as well as by the difference between domestic and global natural gas prices Liquefied natural gas exports trillion cubic feet billion cubic feet per day Reference High and Low Oil and Gas High and Low Resource and Technology Oil Price Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN Oil-to-natural gas price ratio energy-equivalent terms

10 Future domestic natural gas prices depend on both domestic resource availability and world energy prices Henry Hub natural gas price 216 dollars per million Btu Low Oil and Gas Resource and Technology High Oil Price Reference case Low Oil Price High Oil and Gas Resource and Technology Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN

11 Electricity use continues to increase, but the rate of growth remains lower than historic averages in the Reference case Electricity use by sector billion kilowatthours 1,8 1,6 1,4 1,2 1, direct use electricity sales residential I commercial I Industrial I transportation -2 Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN Electricity use growth rate percent growth (three-year rolling average)

12 Fuel prices and current laws and regulations drive growing shares of renewables and natural gas in the electricity generation mix as coal s share declines over time in the Reference case U.S. net electricity generation from select fuels billion kilowatthours Reference 216 2,5 216 No Clean Power Plan projections 2, 1,5 coal natural gas 1, 5 nuclear renewable energy petroleum Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN 12

13 Natural gas resource availability affects prices and plays a critical role in determining the mix of coal, natural gas, and renewable generation U.S. net electricity generation from select fuels billion kilowatthours Reference 2, , 1,5 coal natural gas Low Oil and Gas Resource and Technology High Oil and Gas Resource and Technology No Clean Power Plan 1, 5 renewable energy Source: EIA, Annual Energy Outlook VMA Technical Seminar 217, Nashville, TN

14 Lower capital costs and the availability of tax credits boost near-term wind additions and sustain solar additions; whereas coal-fired unit retirements in the Reference case are driven by low natural gas prices and the Clean Power Plan Annual electricity generating capacity additions and retirements (Reference case) gigawatts additions retirements solar wind oil and gas nuclear other coal Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN

15 Assumptions about license renewals in AEO217 increase nuclear retirements, leading to net nuclear capacity decreases Nuclear electricity generating capacity gigawatts Reference Source: EIA, Annual Energy Outlook 217 Year-over-year nuclear capacity changes gigawatts assumed uprates new reactors Reference additions -1 actual/announced -2 retirements projected -3 retirements retirements VMA Technical Seminar 217, Nashville, TN 15

16 Industrial energy consumption grows in all cases, but is higher in the High Oil Price case and the High Economic Growth cases over most of the projection Industrial energy consumption quadrillion British thermal units // Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN High Oil Price High Economic Growth High Oil and Gas Resource and Technology Reference Low Oil and Gas Resource and Technology Low Economic Growth Low Oil Price

17 Industrial sector energy consumption growth in the Reference case is led by increases in petroleum and natural gas consumption Industrial energy consumption quadrillion British thermal units Industrial energy consumption quadrillion British thermal units hydrocarbon gas liquids petroleum natural gas 5 renewables electricity coal nonmanufacturing other non-energy intensive metal durables refining bulk chemical feedstock bulk chemical heat & power food iron & steel paper other energy intensive Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN

18 The United States becomes a net energy exporter in most cases as petroleum liquid imports fall and natural gas exports rise Net energy trade quadrillion British thermal units net imports net exports Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN Low Oil Price Low Oil and Gas Resource and Technology High Economic Growth Reference case Low Economic Growth High Oil Price High Oil and Gas Resource and Technology

19 The United States becomes a net energy exporter in the Reference case projections as natural gas exports increase and petroleum imports decrease Energy trade (Reference case) quadrillion British thermal units Net energy trade (Reference case) quadrillion British thermal units exports 25 2 imports net imports petroleum and other liquids electricity coal and -5 net exports coke natural gas Source: EIA, Annual Energy Outlook 217 VMA Technical Seminar 217, Nashville, TN

20 For more information U.S. Energy Information Administration home page Short-Term Energy Outlook Annual Energy Outlook International Energy Outlook Monthly Energy Review Today in Energy VMA Technical Seminar 217, Nashville, TN

U.S. natural gas and LNG exports

U.S. natural gas and LNG exports U.S. natural gas and LNG exports For Hudson Institute Washington DC April 6, 216 By Victoria Zaretskaya Office of Petroleum, Natural Gas, and Biofuels Analysis U.S. Energy Information Administration Independent

More information

Energy Markets. U.S. Energy Information Administration. for Center on Global Energy Policy, Columbia University November 20, 2015 New York, New York

Energy Markets. U.S. Energy Information Administration. for Center on Global Energy Policy, Columbia University November 20, 2015 New York, New York Energy Markets for Center on Global Energy Policy, Columbia University New York, New York by Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information Administration

More information

Energy Markets. U.S. Energy Information Administration. for. October 29, 2015 Golden, Colorado. by Adam Sieminski, Administrator

Energy Markets. U.S. Energy Information Administration. for. October 29, 2015 Golden, Colorado. by Adam Sieminski, Administrator Energy Markets for The Payne Institute for Earth Resources at the Colorado School of Mines Golden, Colorado by Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information

More information

U.S. Shale Gas in Context

U.S. Shale Gas in Context U.S. Shale Gas in Context Overview of U.S. Natural Gas production and trends For National Conference of State Legislatures Natural Gas Policy Institute September 9, 215 Pittsburgh, Pennsylvania By Grant

More information

Global energy markets

Global energy markets For Woodrow Wilson Center Global Energy Forum September 21, 215 Washington, DC by Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information Administration Independent

More information

World and U.S. Oil and Gas Production and Price Outlook: To Infinity (or at least 2050) and Beyond

World and U.S. Oil and Gas Production and Price Outlook: To Infinity (or at least 2050) and Beyond World and U.S. Oil and Gas Production and Price Outlook: To Infinity (or at least 25) and Beyond Energy and Environment Symposium April 18, 218 Rifle, Colorado by Troy Cook, Senior Global Upstream Analyst,

More information

Oil and natural gas: market outlook and drivers

Oil and natural gas: market outlook and drivers Oil and natural gas: market outlook and drivers for American Foundry Society May 18, 216 Washington, DC by Howard Gruenspecht, Deputy Administrator U.S. Energy Information Administration Independent Statistics

More information

Oil and gas outlook. For New York Energy Forum October 15, 2015 New York, NY. By Adam Sieminski, Administrator. U.S. Energy Information Administration

Oil and gas outlook. For New York Energy Forum October 15, 2015 New York, NY. By Adam Sieminski, Administrator. U.S. Energy Information Administration Oil and gas outlook For New York Energy Forum New York, NY By Adam Sieminski, Administrator U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics & Analysis

More information

Regional energy challenges in New England and Eastern Canada

Regional energy challenges in New England and Eastern Canada Regional energy challenges in New England and Eastern Canada For 39 th Annual Conference of New England Governors and Eastern Canadian Premiers () August 31, 2015 St. John s By Adam Sieminski Energy Information

More information

Gas and Crude Oil Production Outlook

Gas and Crude Oil Production Outlook Gas and Crude Oil Production Outlook COQA/CCQTA Joint meeting October 3-31, 214 San Francisco, California By John Powell Office of Petroleum, Natural Gas, and Biofuels Analysis U.S. Energy Information

More information

U.S. Energy Market Outlook

U.S. Energy Market Outlook U.S. Energy Market Outlook for Energy Policy Institute National Governor's Association Washington, DC by Howard Gruenspecht, Deputy Administrator U.S. Energy Information Administration Independent Statistics

More information

EIA Projections of Oil Production Rates in a New Price Environment

EIA Projections of Oil Production Rates in a New Price Environment EIA Projections of Oil Production Rates in a New Price Environment For API San Joaquin Chapter March 17, 2015 Bakersfield, CA By Troy Cook U.S. Energy Information Administration Independent Statistics

More information

Status and outlook for shale gas and tight oil development in the U.S.

Status and outlook for shale gas and tight oil development in the U.S. Status and outlook for shale gas and tight oil development in the U.S. for Energy Symposium, University of Oklahoma, Price College Energy Institute Norman, OK by Adam Sieminski, Administrator U.S. Energy

More information

Annual Energy Outlook 2015

Annual Energy Outlook 2015 Annual Energy Outlook 215 for Asia Pacific Energy Research Centre Annual Conference 215 Tokyo, Japan by Sam Napolitano Director of the Office of Integrated and International Energy Analysis U.S. Energy

More information

U.S. oil and natural gas outlook

U.S. oil and natural gas outlook U.S. oil and natural gas outlook New York, NY By Adam Sieminski, EIA Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.go v The U.S. has experienced a rapid

More information

International Energy Outlook: key findings in the 216 Reference case World energy consumption increases from 549 quadrillion Btu in 212 to 629 quadril

International Energy Outlook: key findings in the 216 Reference case World energy consumption increases from 549 quadrillion Btu in 212 to 629 quadril EIA's Global Energy Outlook For The Institute of Energy Economics, Japan October 5, 216 Japan By Adam Sieminski, Administrator U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov

More information

AN AMERICAN ENERGY REVOLUTION ENERGY IN CHARTS

AN AMERICAN ENERGY REVOLUTION ENERGY IN CHARTS AN AMERICAN ENERGY REVOLUTION ENERGY IN CHARTS Our nation s economy continues to improve while America has become a world leader in energy production and in the reduction of greenhouse gas emissions,

More information

Annual Energy Outlook 2018

Annual Energy Outlook 2018 Annual Energy Outlook 218 Columbia University, Center on Global Energy Policy February 13, 218 New York, NY John J. Conti, Deputy Administrator U.S. Energy Information Administration U.S. Energy Information

More information

AIChE: Natural Gas Utilization Workshop Overcoming Hurdles of Technology Implementation

AIChE: Natural Gas Utilization Workshop Overcoming Hurdles of Technology Implementation AIChE: Natural Gas Utilization Workshop Overcoming Hurdles of Technology Implementation Natural Gas in the United States: An Overview of Resources and Factors Affecting the Market November 2, 216 Justin

More information

Annual Energy Outlook 2017 with projections to 2050

Annual Energy Outlook 2017 with projections to 2050 Annual Energy Outlook 217 with projections to 25 #AEO217 January 5, 217 Table of contents Page Overview/key takeaways 3 Critical drivers and uncertainty 31 Petroleum and other liquids 4 Natural gas 51

More information

Annual Energy Outlook 2016

Annual Energy Outlook 2016 Annual Energy Outlook 2016 Oil and gas supply modeling methodology For National Committee on Oil and Gas for Air Quality Modeling conference call By John Staub, Team Lead U.S. Energy Information Administration

More information

Annual Energy Outlook 2018 with projections to 2050

Annual Energy Outlook 2018 with projections to 2050 Annual Energy Outlook 218 with projections to 25 February 218 U.S. Energy Information Administration Office of Energy Analysis U.S. Department of Energy Washington, DC 2585 This publication is on the Web

More information

Shale Gas and the Outlook for U.S. Natural Gas Markets and Global Gas Resources

Shale Gas and the Outlook for U.S. Natural Gas Markets and Global Gas Resources Shale Gas and the Outlook for U.S. Natural Gas Markets and Global Gas Resources Organization for Economic Cooperation and Development (OECD) Richard Newell, Administrator June 21, 2011 Paris, France U.S.

More information

Leaving our Corners Real Change in Today s Global Energy Climate

Leaving our Corners Real Change in Today s Global Energy Climate Southern Gas Association November, 2013 Leaving our Corners Real Change in Today s Global Energy Climate Scott W. Tinker Bureau of Economic Geology The University of Texas at Austin, Austin Framing Observation

More information

Colorado Energy & Environmental Issues. Chris Hansen, PhD Senior Advisor, Janys Analytics Candidate, Colorado House of Representatives

Colorado Energy & Environmental Issues. Chris Hansen, PhD Senior Advisor, Janys Analytics Candidate, Colorado House of Representatives Colorado Energy & Environmental Issues Chris Hansen, PhD Senior Advisor, Janys Analytics Candidate, Colorado House of Representatives Oil 2 Thousand Barrels per Day U.S. Crude Oil Production & Consumption,

More information

Energizing America: Facts for Addressing Energy Policy. Rayola Dougher API Senior Economic Advisor,

Energizing America: Facts for Addressing Energy Policy. Rayola Dougher API Senior Economic Advisor, Energizing America: Facts for Addressing Energy Policy Rayola Dougher API Senior Economic Advisor, dougherr@api.org 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 1970 1975 1980 1985 1990 1995 2000

More information

Drilling Deeper: A Reality Check on U.S. Government Forecasts for a Lasting Tight Oil & Shale Gas Boom. Web Briefing December 9, 2014

Drilling Deeper: A Reality Check on U.S. Government Forecasts for a Lasting Tight Oil & Shale Gas Boom. Web Briefing December 9, 2014 Drilling Deeper: A Reality Check on U.S. Government Forecasts for a Lasting Tight Oil & Shale Gas Boom Web Briefing December 9, 214 J. David Hughes Post Carbon Institute Global Sustainability Research

More information

Fuels Used in Electricity Generation

Fuels Used in Electricity Generation Fuels Used in Electricity Generation for Energy and Climate Change Research Seminar May 17 th, 2012 Washington, DC by, Office of Electricity, Coal, Nuclear and Renewables Analysis Energy Information Administration

More information

Annual Energy Outlook 2010 Reference Case

Annual Energy Outlook 2010 Reference Case Annual Energy Outlook 21 Reference Case The Paul H. Nitze School of Advanced International Studies December 14, 29 Washington, DC Richard Newell, Administrator Richard Newell, SAIS, December 14, 29 1 How

More information

Shale Gas. A Game Changer for U.S. and Global Gas Markets? Flame European Gas Conference March 2, 2010, Amsterdam. Richard G. Newell, Administrator

Shale Gas. A Game Changer for U.S. and Global Gas Markets? Flame European Gas Conference March 2, 2010, Amsterdam. Richard G. Newell, Administrator Shale Gas A Game Changer for U.S. and Global Gas Markets? Flame European Gas Conference March 2, 2010, Amsterdam Richard G. Newell, Administrator Richard Newell, March SAIS, December 2, 2010 14, 2009 1

More information

International Energy Outlook 2016

International Energy Outlook 2016 International Energy Outlook 2016 For APERC Annual Conference 2017 Tokyo, Japan By Angelina LaRose U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov Global outlook 2

More information

U.S. EIA s Liquid Fuels Outlook

U.S. EIA s Liquid Fuels Outlook U.S. EIA s Liquid Fuels Outlook NCSL 2011 Energy Policy Summit: Fueling Tomorrow s Transportation John Staub, Team Lead August 8, 2011 San Antonio, Texas U.S. Energy Information Administration Independent

More information

Durability of Eagle Ford Investment: How does the Eagle Ford Compare in North America?

Durability of Eagle Ford Investment: How does the Eagle Ford Compare in North America? Durability of Eagle Ford Investment: How does the Eagle Ford Compare in North America? March 27, 2013 Unconventional Development Activity North American Shale Plays Source: EIA 2 Converging Consumption

More information

Drivers of future U.S. carbon dioxide emissions: insights from the Annual Energy Outlook 2011

Drivers of future U.S. carbon dioxide emissions: insights from the Annual Energy Outlook 2011 Drivers of future U.S. carbon dioxide emissions: insights from the Annual Energy Outlook 2011 Global Climate Change Research Seminar Electric Power Research Institute, Deputy Administrator May 25, 2011

More information

Energy from Shale: Opportunities, Challenges, and Policy Implications

Energy from Shale: Opportunities, Challenges, and Policy Implications Energy from Shale: Opportunities, Challenges, and Policy Implications Shale Answers Rayola Dougher API Senior Economic Advisor, dougherr@api.org 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 1970 1975

More information

Natural Gas Market Update

Natural Gas Market Update Natural Gas Market Update John Jicha - MGE Director - Energy Supply and Trading Madison Gas and Electric Company Agenda What a difference ten years can make Low prices Fundamental factors impacting the

More information

Natural Gas. Smarter Power Today. Perspectives on the Future of Regulatory Policy Illinois State University. Springfield, IL October 25, 2012

Natural Gas. Smarter Power Today. Perspectives on the Future of Regulatory Policy Illinois State University. Springfield, IL October 25, 2012 Natural Gas Smarter Power Today. Perspectives on the Future of Regulatory Policy Illinois State University Springfield, IL October 25, 2012 ANGA Members 2 ABUNDANCE & PRICE STABILITY The Shale Gas Revolution

More information

U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2016

U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2016 U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2016 February 2018 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared by the

More information

Unconventional Oil & Gas: Reshaping Energy Markets

Unconventional Oil & Gas: Reshaping Energy Markets Unconventional Oil & Gas: Reshaping Energy Markets Guy Caruso Senior Advisor JOGMEC Seminar 7 February 2013 Landscape is Changing Even as We Sit Here Today - US Projected to reach 90% Energy Self-Sufficiency

More information

Oil & The Economy: Boom-to-Bust and the Impact to States.

Oil & The Economy: Boom-to-Bust and the Impact to States. Oil & The Economy: Boom-to-Bust and the Impact to States. Jesse Thompson Business Economist Houston Branch January, 2017 U.S. Oil U.S. Production & Rig Surged Count U.S. crude oil production Million barrels

More information

U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2015

U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2015 U.S. Crude Oil and Natural Gas Proved Reserves, Year-end 2015 December 2016 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared by the

More information

International Energy Outlook 2011

International Energy Outlook 2011 International Energy Outlook 211 Center for Strategic and International Studies, Acting Administrator September 19, 211 Washington, DC U.S. Energy Information Administration Independent Statistics & Analysis

More information

Overview. Key Energy Issues to Economic Growth

Overview. Key Energy Issues to Economic Growth Key Energy Issues to 225 The Energy Information Administration (EIA), in preparing model forecasts for its Annual Energy Outlook 25 (AEO25), evaluated a wide range of current trends and issues that could

More information

Which honored guest graduated from Service High School in 1990?

Which honored guest graduated from Service High School in 1990? #AOGA2015 #AOGA2015 Which honored guest graduated from Service High School in 1990? Attorney General Craig Richards House Majority Leader Charisse Millett Senator Lesil McGuire Department of the Interior

More information

API Industry Outlook. Third Quarter R. Dean Foreman, Ph.D. Great Plains and EmPower ND Energy Conference October 8, 2018.

API Industry Outlook. Third Quarter R. Dean Foreman, Ph.D. Great Plains and EmPower ND Energy Conference October 8, 2018. API Industry Outlook Third Quarter 2018 R. Dean Foreman, Ph.D. Chief Economist American Petroleum Institute Great Plains and EmPower ND Energy Conference October 8, 2018 American Updated Petroleum September

More information

Natural Gas Abundance: The Development of Shale Resource in North America

Natural Gas Abundance: The Development of Shale Resource in North America Natural Gas Abundance: The Development of Shale Resource in North America EBA Brown Bag Luncheon Bracewell & Giuliani Washington, D.C. February 6, 2013 Bruce B. Henning Vice President, Energy Regulatory

More information

Unconventional Oil and Gas Reservoirs

Unconventional Oil and Gas Reservoirs Energy from the Earth Briefing Series, Part 4 May, 2014 Unconventional Oil and Gas Reservoirs Scott W. Tinker Bureau of Economic Geology Jackson School of Geosciences, The University of Texas at Austin

More information

Annual Energy Outlook 2005

Annual Energy Outlook 2005 Page 1 of 5 Home >EIA Brochures > Annual Energy Outlook 2005 Annual Energy Outlook 2005 With Projections to 2025 Figure 1. Energy Prices, 1970-2025 (2003 dollars per million Btu) The Annual Energy Outlook

More information

EIA Short-Term Energy and

EIA Short-Term Energy and EIA Short-Term Energy and Winter Fuels Outlook Washington, DC U.S. Energy Information Administration Independent Statistics & Analysis www.eia.gov Overview EIA expects higher average fuel bills this winter

More information

AEO2005 Overview. Key Energy Issues to Economic Growth

AEO2005 Overview. Key Energy Issues to Economic Growth Key Energy Issues to 225 The Energy Information Administration (EIA), in preparing model forecasts for its Annual Energy Outlook 25 (AEO25), evaluated a wide range of current trends and issues that could

More information

Early Release Overview

Early Release Overview Annual Energy Outlook 21 Early Release Overview December 29 Energy Trends to 235 In preparing the Annual Energy Outlook 21 (AEO- 21), the Energy Information Administration (EIA) evaluated a wide range

More information

What s Going on With Energy? How Unconventional Oil & Gas Development is Impacting Renewables, Efficiency, Power Markets and All That Other Stuff

What s Going on With Energy? How Unconventional Oil & Gas Development is Impacting Renewables, Efficiency, Power Markets and All That Other Stuff What s Going on With Energy? How Unconventional Oil & Gas Development is Impacting Renewables, Efficiency, Power Markets and All That Other Stuff Atlanta Economics Club Monthly Meeting December 10, 2012

More information

Major Challenges for Gas: What Can be Expected for Mexico?

Major Challenges for Gas: What Can be Expected for Mexico? Major Challenges for Gas: What Can be Expected for Mexico? Gas Future Forum, Mexico, April 3, 2014 BEG/CEE UT, 1 Overall Observations Resources Reserves Deliverability Deliverability is key Sweet spot

More information

ENERGY SLIDESHOW. Federal Reserve Bank of Dallas

ENERGY SLIDESHOW. Federal Reserve Bank of Dallas ENERGY SLIDESHOW Updated: July 5, 2018 ENERGY PRICES www.dallasfed.org/research/energy Brent & WTI & Crude Brent Oil Crude Oil Dollars per barrel 140 120 Brent (Jun 29 = $75.24) WTI (Jun 29 = $74.03) 95%

More information

Natural Gas The Natural Choice Now.

Natural Gas The Natural Choice Now. Natural Gas The Natural Choice Now. About ANGA ANGA is dedicated to increasing the understanding of the environmental, economic and national security benefits of clean, abundant, dependable and efficient

More information

ENERGY SLIDESHOW. Federal Reserve Bank of Dallas

ENERGY SLIDESHOW. Federal Reserve Bank of Dallas ENERGY SLIDESHOW Updated: February 14, 2018 ENERGY PRICES www.dallasfed.org/research/energy Brent & WTI & Crude Brent Oil Crude Oil Dollars per barrel 140 Brent (Feb 9 = $65.50) WTI (Feb 9 = $62.01) 120

More information

Policy, Technology, and Economic Uncertainty

Policy, Technology, and Economic Uncertainty Policy, Technology, and Economic Uncertainty Which matters the most for global energy system modeling? 15 th International Association for Energy Economics (IAEE) European Conference Session 6E: Energy

More information

UNDERSTANDING NATURAL GAS MARKETS. Mohammad Naserifard MSc student of Oil & Gas Economics at PUT Fall 2015

UNDERSTANDING NATURAL GAS MARKETS. Mohammad Naserifard MSc student of Oil & Gas Economics at PUT Fall 2015 UNDERSTANDING NATURAL GAS MARKETS Mohammad Naserifard MSc student of Oil & Gas Economics at PUT Fall 2015 Table of Contents 3 Overview Natural Gas is an Important Source of Energy for the United States.

More information

Unconventional Oil and Gas Reservoirs Mountain or Molehill?

Unconventional Oil and Gas Reservoirs Mountain or Molehill? ASPO November, 2012 Unconventional Oil and Gas Reservoirs Mountain or Molehill? Scott W. Tinker Bureau of Economic Geology Jackson School of Geosciences The University of Texas at Austin Population (millions)

More information

Power & Politics Navigating the Changing Vision of Our Energy Future. Rayola Dougher, API Senior Economic Advisor,

Power & Politics Navigating the Changing Vision of Our Energy Future. Rayola Dougher, API Senior Economic Advisor, Power & Politics Navigating the Changing Vision of Our Energy Future Rayola Dougher, API Senior Economic Advisor, dougherr@api.org U.S. oil and natural gas production is increasing as a result of technological

More information

DRILLING DEEPER A REALITY CHECK ON U.S. GOVERNMENT FORECASTS FOR A LASTING TIGHT OIL & SHALE GAS BOOM J. DAVID HUGHES

DRILLING DEEPER A REALITY CHECK ON U.S. GOVERNMENT FORECASTS FOR A LASTING TIGHT OIL & SHALE GAS BOOM J. DAVID HUGHES DRILLING DEEPER A REALITY CHECK ON U.S. GOVERNMENT FORECASTS FOR A LASTING TIGHT OIL & SHALE GAS BOOM J. DAVID HUGHES DRILLING DEEPER A Reality Check on U.S. Government Forecasts for a Lasting Tight Oil

More information

Current Topics at EIA

Current Topics at EIA Richard Newell, USAEE, November 29 1 Current Topics at EIA U.S. Association for Energy Economics November 2, 29, Washington, DC Richard Newell, Administrator U.S. Energy Information Administration Richard

More information

North America Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance

North America Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance North America Midstream Infrastructure through 2035: Capitalizing on Our Energy Abundance Prepared by ICF International for The INGAA Foundation, Inc. Support provided by America s Natural Gas Alliance

More information

Projections of Future Oil & Gas Emissions. EPA/States Oil and Gas Emissions Summit November 5, 2014 Rich Mason

Projections of Future Oil & Gas Emissions. EPA/States Oil and Gas Emissions Summit November 5, 2014 Rich Mason Projections of Future Oil & Gas Emissions EPA/States Oil and Gas Emissions Summit November 5, 2014 Rich Mason (mason.rich@epa.gov) Oil & Gas Projections Background Prior to 2011 NEI, not much, but not

More information

Annual Energy Outlook 2016 and International Energy Outlook 2016

Annual Energy Outlook 2016 and International Energy Outlook 2016 Annual Energy Outlook 216 and International Energy Outlook 216 Energy Risk and Critical Infrastructure Workshop Troy Cook, Senior Global Upstream Analyst, EIA May 25-25, 216 Denver, CO U.S. Energy Information

More information

EIA s Energy Outlook Through 2035

EIA s Energy Outlook Through 2035 EIA s Energy Outlook Through 235 ReThink Montgomery Speaker Series Energy March 23, 21 Silver Spring, Maryland A. Michael Schaal, Director, Oil and Gas Division Office of Integrated Analysis and Forecasting

More information

International Energy Outlook 2017

International Energy Outlook 2017 International Energy 217 for Eighth IEA-IEF-OPEC Symposium on Energy s February 14, 218 Riyadh, Saudi Arabia U.S. Energy Information Administration U.S. Energy Information Administration Independent Statistics

More information

Net energy returns from unconventional oil: Implications for the environment

Net energy returns from unconventional oil: Implications for the environment Net energy returns from unconventional oil: Implications for the environment Full pathway (point of use) net energy returns for pathways and industry [GJ/GJ] 6 5 4 3 2 1 0 Jan70 National Geographic NER

More information

Scott Prestidge Metro Denver EDC Energy Industry Manager

Scott Prestidge Metro Denver EDC Energy Industry Manager Scott Prestidge Metro Denver EDC Energy Industry Manager Metro Denver EDC Energy Trade Association 140 Members 70 Companies/Organizations Diverse: Vestas, RES Americas, Anadarko, Xcel, Tri-State, COGA,

More information

FROM RAILROAD COMMISSIONER RYAN SITTON

FROM RAILROAD COMMISSIONER RYAN SITTON 2018 E N E R G Y M A R K E T O U T L O O K FROM RAILROAD COMMISSIONER RYAN SITTON TABLE OF CONTENTS 2018 ENERGY MARKET OUTLOOK Summing up the analysis contained in this report in a few sentences, my prediction

More information

U.S. Historical and Projected Shale Gas Production

U.S. Historical and Projected Shale Gas Production U.S. Historical and Projected Shale Gas Production Phyllis Martin Phyllis Martin, Senior Energy Analyst Office of Petroleum, Gas and Biofuels Analysis U.S. Energy Information Administration phyllis.martin@eia.doe.gov

More information

Natural Gas. Hydraulic Fracturing 101. NC Energy Policy Issues Committee February 15 th, 2012

Natural Gas. Hydraulic Fracturing 101. NC Energy Policy Issues Committee February 15 th, 2012 Natural Gas Hydraulic Fracturing 101 NC Energy Policy Issues Committee February 15 th, 2012 Tom Hassenboehler Vice President of Policy Development and Legislative Affairs About ANGA ANGA is dedicated to

More information

The Impact of Shale on North American and Global Gas Markets

The Impact of Shale on North American and Global Gas Markets Southern Gas Association February, 2014 The Impact of Shale on North American and Global Gas Markets Scott W. Tinker John Browning, Svetlana Ikonnikova, Gürcan Gülen, Eric Potter, Frank Male, Qilong Fu,

More information

January 30, 2010 National Conference of State Legislatures Savannah, Georgia. Christopher B. McGill Managing Director, Policy Analysis

January 30, 2010 National Conference of State Legislatures Savannah, Georgia. Christopher B. McGill Managing Director, Policy Analysis January 30, 2010 National Conference of State Legislatures Savannah, Georgia Christopher B. McGill Managing Director, Policy Analysis U.S. Natural Gas Supply and Infrastructure Additions Points of Discussion

More information

North American Gas: A dynamic environment. Josh McCall BP North American Gas and Power November 16, 2011

North American Gas: A dynamic environment. Josh McCall BP North American Gas and Power November 16, 2011 North American Gas: A dynamic environment Josh McCall BP North American Gas and Power November 16, 2011 Disclaimer Copyright BP Energy Company. All rights reserved. Contents of this presentation do not

More information

Trends, Issues and Market Changes for Crude Oil and Natural Gas

Trends, Issues and Market Changes for Crude Oil and Natural Gas Trends, Issues and Market Changes for Crude Oil and Natural Gas East Iberville Community Advisory Panel Meeting Syngenta September 26, 2012 Center for Energy Studies David E. Dismukes, Ph.D. Center for

More information

Short-Term and Long-Term Outlook for Energy Markets

Short-Term and Long-Term Outlook for Energy Markets Short-Term and Long-Term Outlook for Energy Markets Guy Caruso Administrator, Energy Information Administration guy.caruso@eia.doe.gov Fueling the Future: Energy Policy in New England December 2, 25 Boston,

More information

SAMPLE. US Shale. Insight Report

SAMPLE. US Shale. Insight Report US Shale Insight Report 2013 www.eic-consult.com Contents Page Outlook and Executive Summary 8-15 Shale Operations and Technology 16-24 Shale Economics and International LNG Markets 25-37 Major Shale Plays

More information

Shale Gas - Transforming Natural Gas Flows and Opportunities. Doug Bloom President, Spectra Energy Transmission West October 18, 2011

Shale Gas - Transforming Natural Gas Flows and Opportunities. Doug Bloom President, Spectra Energy Transmission West October 18, 2011 Fort Nelson Gas Plant, British Columbia Shale Gas - Transforming Natural Gas Flows and Opportunities Doug Bloom President, Spectra Energy Transmission West October 18, 2011 Natural Gas Golden Age Natural

More information

Impact of American Unconventional Oil and Gas Revolution

Impact of American Unconventional Oil and Gas Revolution National University of Singapore Energy Studies Institute 18 May 215 Impact of American Unconventional Oil and Gas Revolution Edward C. Chow Senior Fellow Revenge of the Oil Price Cycle American Innovation:

More information

The Really Big Game Changer: Crude Oil Production from Shale Resources and the Tuscaloosa Marine Shale

The Really Big Game Changer: Crude Oil Production from Shale Resources and the Tuscaloosa Marine Shale The Really Big Game Changer: Crude Oil Production from Shale Resources and the Tuscaloosa Marine Shale Baton Rouge Chamber of Commerce Regional Stakeholders Breakfast June 27, 2012 Center for Energy Studies

More information

We ve Seen This Movie Before

We ve Seen This Movie Before The Dynamic Energy Landscape: Natural Gas in the U.S. We ve Seen This Movie Before October 26, 2015 Production of Natural Gas, NGLs & Crude Oil Bcf/d 75 70 65 60 55 50 U.S. Lower 48 Dry Gas Production

More information

MEMORANDUM. May 6, Subcommittee on Energy and Power Democratic Members and Staff

MEMORANDUM. May 6, Subcommittee on Energy and Power Democratic Members and Staff FRED UPTON, MICHIGAN CHAIRMAN HENRY A. WAXMAN, CALIFORNIA RANKING MEMBER ONE HUNDRED THIRTEENTH CONGRESS Congress of the United States House of Representatives COMMITTEE ON ENERGY AND COMMERCE 2125 RAYBURN

More information

Milken Institute: Center for Accelerating Energy Solutions

Milken Institute: Center for Accelerating Energy Solutions Milken Institute: Center for Accelerating Energy Solutions Center for Accelerating Energy Solutions Promotes policy and market mechanisms to build a more stable and sustainable energy future Identifies

More information

Short-Term Energy Outlook (STEO)

Short-Term Energy Outlook (STEO) January 2013 Short-Term Energy Outlook (STEO) This edition of the Short Term Energy Outlook is the first to include forecasts for 2014. EIA expects that the Brent crude oil spot price, which averaged $112

More information

The US Shale Oil and Gas Boom: What is the Economic Impact and What Happens if We Use Part of it to Reduce GHG Emissions?

The US Shale Oil and Gas Boom: What is the Economic Impact and What Happens if We Use Part of it to Reduce GHG Emissions? The US Shale Oil and Gas Boom: What is the Economic Impact and What Happens if We Use Part of it to Reduce GHG Emissions? Farzad Taheripour Research Assistant Professor Department of Agricultural Economics

More information

2015 Trilateral Energy Outlook Project

2015 Trilateral Energy Outlook Project 1 Trilateral Energy Outlook Project Introduction Context & Motivation The energy markets of,, and the United States are becoming increasingly interdependent as physical infrastructure continues to be built

More information

Update on U.S. Oil and Gas Proved Reserves, Highlighting the Contribution of the Williston Basin

Update on U.S. Oil and Gas Proved Reserves, Highlighting the Contribution of the Williston Basin Update on U.S. Oil and Gas Proved Reserves, Highlighting the Contribution of the Williston Basin Steven G. Grape Energy Information Administration Office of Oil and Gas Reserves & Production Division Dallas,

More information

UNECE Expert Group on Resource Classification April, 2016

UNECE Expert Group on Resource Classification April, 2016 UNECE Expert Group on Resource Classification April, 216 Scott W. Tinker Bureau of Economic Geology University of Texas at Austin Framing Conundrum Many people do not know how electricity is made or where

More information

Winter U.S. Natural Gas Production and Supply Outlook

Winter U.S. Natural Gas Production and Supply Outlook Winter 2012-13 U.S. Natural Gas Production and Supply Outlook Prepared for Natural Gas Supply Association by: ICF International Fairfax, Virginia September, 2012 Introduction This report presents ICF s

More information

U.S. Crude Oil, Natural Gas, and NG Liquids Proved Reserves

U.S. Crude Oil, Natural Gas, and NG Liquids Proved Reserves 1 of 5 3/14/2013 11:37 PM U.S. Crude Oil, Natural Gas, and NG Liquids Proved Reserves With Data for Release Date: August 1, 2012 Next Release Date: March 2013 Previous Issues: Year: Summary Proved reserves

More information

October U.S. Energy Information Administration Winter Fuels Outlook October

October U.S. Energy Information Administration Winter Fuels Outlook October October 2017 Winter Fuels Outlook EIA forecasts that average household expenditures for all major home heating fuels will rise this winter because of expected colder weather and higher energy costs. Average

More information

Short-Term Energy Outlook (STEO)

Short-Term Energy Outlook (STEO) January 2018 Short-Term Energy Outlook (STEO) Forecast highlights This edition of the Short-Term Energy Outlook is the first to include forecasts for 2019. Benchmark North Sea Brent crude oil spot prices

More information

Energy Outlook for National Ocean Industries Association Annual Meeting April 17, 2015 Washington, D.C.

Energy Outlook for National Ocean Industries Association Annual Meeting April 17, 2015 Washington, D.C. Energy Outlook 215 for National Ocean Industries Association Annual Meeting Washington, D.C. by Howard Gruenspecht, Deputy Administrator U.S. Energy Information Administration Independent Statistics &

More information

Overview of Florida s s Regulatory Environment

Overview of Florida s s Regulatory Environment Overview of Florida s s Regulatory Environment October 21 st, 2011 Eduardo Balbis, P.E. Commissioner Florida Public Service Commission Florida Public Service Commission Gubernatorial Appointees Confirmed

More information

January Christof Rühl, Group Chief Economist

January Christof Rühl, Group Chief Economist January 213 Christof Rühl, Group Chief Economist Contents Introduction Global energy trends Outlook 23: Fuel by fuel Implications Energy Outlook 23 BP 213 Introduction Global energy trends Outlook 23:

More information

U.S. Crude Oil and Natural Gas Proved Reserves, 2012

U.S. Crude Oil and Natural Gas Proved Reserves, 2012 U.S. Crude Oil and Natural Gas Proved, 2012 April 2014 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared by the U.S. Energy Information

More information

ENERGY OUTLOOK 2017 FALL/WINTER

ENERGY OUTLOOK 2017 FALL/WINTER ENERGY OUTLOOK 2017 FALL/WINTER With more than 105 years in the energy industry, BOK Financial is committed to helping you succeed. In this issue of the Energy Outlook, you ll learn more about the current

More information

Contemplations about the future of natural gas: the good, the bad and the ugly

Contemplations about the future of natural gas: the good, the bad and the ugly Contemplations about the future of natural gas: the good, the bad and the ugly Charles F. Mason H.A. True Chair in Petroleum and Natural Gas Economics Department of Economics Associate Dean, College of

More information

ENERGY TRENDS: WHY JOBS, CAPITAL INVESTMENT & TRADE ARE HEATING UP

ENERGY TRENDS: WHY JOBS, CAPITAL INVESTMENT & TRADE ARE HEATING UP ENERGY TRENDS: WHY JOBS, CAPITAL INVESTMENT & TRADE ARE HEATING UP Tanya Bodell, Executive Director, Energyzt Once reigning as the King of Coal, the United States is now referred to as the Saudi Arabia

More information