EIA Consistently Underestimates NatGas Needed for Power Generation
U.S. Energy Information Administration (EIA) forecasters are predicting a sharp drop in natural gas demand in the power sector in the coming decades based on an expectation that unreliable renewables will add tremendous new capacity build-out and will accelerate and displace other sources. However, EIA’s forecasts over the past decade have “consistently and severely” underestimated gas burn for power. The sharp analysts at RBN Energy have done a deep dive into the pitfalls of forecasting gas consumption in a world often focused on pushing a renewables-heavy generation stack.
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Although we have a companion story from today’s lineup that criticizes the U.S. Energy Information Administration (EIA) for its powers to predict the future (see EIA Consistently Underestimates NatGas Needed for Power Generation), the EIA is unparalleled in its tracking and reporting of historical energy data. The expert number crunchers of the EIA recently turned their eyes on U.S. petroleum exports and found that these types of exports (including NGLs) set a new record high in the first half of 2023.
For years, we’ve seen the lie repeated by mainstream media, Big Green shills, and environmental lackeys that fossil energy gets big government subsidies. Let’s put that lie to bed right now. The Bidenistas, who operate the U.S. Energy Information Administration (EIA), very quietly issued a major new report in early August that shows green energy receives FAR MORE in the way government subsidies than does fossil energy. FAR MORE.
Two weeks ago, the U.S. rig count erased a couple of weeks of anemic gains by dropping 11 rigs from the total, sinking to 630 active rigs, the lowest count since February of 2022 (see 
According to a recent analysis by Enverus Intelligence Research, the cost of supply for North American shale producers is expected to continue rising. The remaining top-tier shale drilling inventory across North America *could be* in shorter supply than previously estimated, says Enverus. Rampant cost inflation from the Bidenistas and declining well productivity across the U.S. shale patch are making drilling wells much more expensive. What about the situation here in the Marcellus/Utica?
Natural gas development is fundamental to the health and strength of Pennsylvania’s economy, supporting well over 100,000 family-sustaining careers, boosting state tax revenues, and generating billions in economic benefits, according to a new economic impact analysis (full copy below) commissioned by the Marcellus Shale Coalition (MSC). The analysis, released at the kickoff of the 
According to the International Gas Union’s (IGU) 2023 Global Wholesale Gas Price Survey report (full copy below), 2022 was THE most turbulent year in the history of gas markets, as the global energy crisis intensified and the global price levels reached record highs. Last year saw record price levels, with Europe’s wholesale prices reaching over $30 per MMBtu. The average world price for natural gas reached $9.44 per MMBtu in 2022 — the highest ever — compared to a record low of $3.23 per MMBtu in 2020. Record high prices last year were seen in all regions apart from North America and the Former Soviet Union.
Two weeks ago, the U.S. rotary rig count rose nine after rising by one the week before that (see 
The American Petroleum Institute (API) is urging the EPA to delay implementation of parts of its proposed methane regulations (of oil and gas companies) because of equipment supply constraints. In a new study just released, oil and gas companies identified supply chain delays and challenges in buying the methane reduction equipment they would need to comply with EPA’s draft regulation on the timeline EPA proposed. The study finds current backorder times for methane reduction equipment components range from six months to more than two years. Implementing the proposed methane rule is expected to increase current backorder times by six months or more. Once again, the government is the problem, not the solution.
America’s natural gas and oil industry announced “a landmark partnership” in late 2017 called The Environmental Partnership to “accelerate improvements to environmental performance in operations across the country” for lowering methane emissions (see 
In May, the Bidenistas at the EPA released a hellscape of new regulations (681 pages) aimed at forcing coal- and natural gas-fired power plants to close (see 
Have we finally turned a corner? Hit rock bottom and have begun a rebound? We are referring to the Baker Hughes U.S. rig count. Last Monday, we reported the weekly rig count had finally gained a rig–the first time since June (see 
Yesterday, the Potential Gas Committee (PGC) released its year-end assessment of the nation’s estimated natural gas resource base, “Potential Supply of Natural Gas in the United States,” at an event hosted by the American Gas Association. Experts from the PGC presented the current state of technically recoverable reserves in the United States, providing valuable information on a region-by-region basis. We have the executive summary below. Of particular interest for us was the finding that the U.S. has enough gas to supply current and future needs for the next 100 years! Yet we do not, says the PGC, have enough pipelines to flow it.
Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. The latest monthly report, issued Tuesday, predicts that U.S. natural gas production AND demand will rise to record highs in 2023. EIA projects that dry gas production will end up at 102.69 billion cubic feet per day (Bcf/d) in 2023 and rise to 104.93 Bcf/d in 2024. The current record high is 98.13 Bcf/d, set in 2022.