Higher oil prices drive the increase in gasoline. Increasing oil production and finishing pipelines will get us back on track.
Higher natural gas prices will increase our electric bills as power companies limit natural gas to 16% of the fuel used to generate electricity.
United States exported more petroleum than it imported in 2020, according to EIA
In 2020, the United States exported more petroleum than it imported – marking the first time that has happened, according to the U.S. Energy Information Administration’s February 2021 Short-Term Energy Outlook.
However, EIA expects the U.S. to return to being a net petroleum importer in 2021 and 2022 due to declines in domestic crude oil production and corresponding increases in crude oil imports.
Increasing crude oil imports will drive the growth in net petroleum imports in 2021 and 2022, offsetting changes in refined product net trade. Net imports of crude oil will increase from its 2020 average of 2.7 million barrels per day (b/d) to 3.7 million b/d in 2021 and 4.4 million b/d in 2022, EIA reported.
U.S. net petroleum product exports—distillate fuel oil, hydrocarbon gas liquids, and motor gasoline, among others—averaged 3.2 million b/d in 2019 and 3.4 million b/d in 2020. Net petroleum product exports will average 3.5 million b/d in 2021, and 3.9 million b/d in 2022 as global demand for petroleum products continues to increase from its recent low point in the first half of 2020.
Also, EIA said that the United States will import more crude oil to fill the widening gap between refinery inputs of crude oil and domestic crude oil production in 2021 and 2022. U.S. crude oil production declined by about 0.9 million b/d – or 8 percent — to 11.3 million b/d in 2020 because of well curtailment and a decline in drilling activity.
Further, EIA expects the rising price of crude oil will contribute to more U.S. crude oil production later this year. Monthly domestic crude oil production will reach 11.3 million b/d by the end of 2021 and 11.9 million b/d by the end of 2022. These values are up from the most recent monthly average of 11.1 million b/d in November 2020 but still lower than the previous peak of 12.9 million b/d in November 2019.
Almost All New US Power Plants Built in 2021 Will Be Carbon-Free, by Julian Spector 1/14/21.
Federal data reveals that natural gas will supply just 16 percent of new power plants this year as cheap wind and solar power take over the market.
Wind and solar make up a small share of U.S. electricity production today, but they're poised to supply 70 percent of new power plant capacity built this year.
That's not according to pro-solar activists or industry trade groups. It's the calculation of the federal government.
Solar will deliver the most new capacity, with 39 percent, according to the latest tally by the U.S. Energy Information Administration.
Wind follows close behind with 31 percent.
The long-awaited Vogtle nuclear plant in Georgia could finally wrap up one of its reactors this year, contributing another 3 percent.
And battery storage will grow to 11 percent of new capacity, with a carbon impact determined by the cleanliness of the electricity that charges them.
Natural gas, the dominant fuel source for U.S. electricity, is only expected to account for 16 percent of new power plant capacity. Almost all of those gas generators are popping up in Texas, Ohio or Pennsylvania, the EIA noted.
Comments
Wind and Solar cost 12 to 14 cents per kwh to produce. Natural Gas costs 4 cents per kwh to produce. Our electric bills will grow 5-fold if this trend is not reversed.
Norb
Leahy, Dunwoody GA Tea Party Leader
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