As readers may know, I love graphs, and the Energy Information Administration is good at making them. Here are two particularly interesting ones.
Articles Posted in Energy markets
MIT Study of Relationship Between Oil and Gas Prices
One of the remarkable aspects of the oil and gas markets over the last few years has been the rapid decline of natural gas prices despite the continuing high price of crude oil. Historically, analysists have assumed that there is a relationship between the price of the two commodities. After all,…
EIA Annual Energy Outlook 2012
The Energy Information Administration has issued its annual energy projections. Highlights: Domestic crude oil production is expected to grow by more than 20 percent over the coming decade: Domestic crude oil production increased from 5.1 million barrels per day in 2007 to 5.5 million barrels per day in 2010. Over…
Gas Price Drop In the News
Natural gas prices are much in the news. Prices have fallen precipitously in the past few weeks. Natural gas futures have fallen 35% in the past year. Warm weather this winter has created a gas glut. In his state of the union address, President Obama said the US now has 100…
New York Times Articles on Shale Plays Create a Stir
Two recent articles by a New York Times reporter, Ian Urbina, have caused strong reactions among the industry and those following shale plays in the U.S. Urbina’s articles may be found here and here. Urbina’s basic theme is that the new reserves of natural gas attributed to shale plays are…
News of “Super Extended Laterals” in Woodford Shale, and ConocoPhillips’ First Well in Eagle Ford Shale
Newfield Exploration has reported that it is drilling horizontal wells with “super extended laterals” in the Woodford Shale in Oklahoma — wells with laterals exceeding 5,000 feet. Newfield has so far drilled 14 super-extended lateral wells, with an average length of 9,000 feet. Those wells had an average gross initial…
Interesting Comparison of Wellhead and Residential Gas Prices Across States
The information below is from the Energy Information Administration. Note the wide variation in City Gate and Wellhead Prices among different states: Below is the same information in graph form. Why would average residential gas prices in Texas be $12.88 per mcf, while residential prices in California and Minnesota —…
International Energy Agency Climate-Change Policy Scenario
The International Energy Agency (IEA) issued a forecast of world energy consumption and use, and for the first time included a scenario projecting the impacts of taking steps to stabilize greenhouse gases in the atmosphere at about 450 parts per million by 2030. This “450 Secnario” would limit overall temperature increases…
Lots of Energy Behind Use of Natural Gas as Vehicle Fuel
Momentum appears to be gaining to increase use of compressed natural gas in vehicles in the U.S., both to decrease the nation’s dependence on foreign oil and as a “bridge fuel” to fight global warming. Last Week, the Potential Gas Committee issued a report estimating that the toal U.S. natural…
Momentum Increasing for Use of Natural Gas in Vehicles
Boone Pickens’ efforts to promote natural gas as an alternative to gasoline in vehicles seems to be gaining momentum. In a column published by the Huffington Post, Pickens said that the recent advances in extraction of natural gas from shales is a “game-changer.” “One study estimates that we have enough natural…