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Keyword: eia

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  • Oil Continues To Crash After EIA Reports Biggest Inventory Build In 34 Years

    11/02/2016 8:40:53 AM PDT · by bananaman22 · 13 replies ^ | 02-11-2016 | EIA
    After the API shocked markets by reporting a massive 9.3-million-barrel increase in U.S. inventories yesterday, the EIA added insult to injury, saying inventories instead went up by 14.4 million barrels in the week to October 28, reaching 482.6 million barrels. The silver lining is that the total is within the upper limit for the time of year, according to the EIA data. We suspect the markets won’t find much in the way of this silver. Last week, the authority reported a meager 600,000-barrel decline in crude oil stocks, which despite its meagre size, managed to sway the market, pushing up...
  • The Billion Barrel Oil Swindle: 80% Of U.S. Oil Reserves Are Unaccounted-For

    10/10/2016 8:44:07 AM PDT · by bananaman22 · 18 replies ^ | 10-10-2016 | Art
    U.S. crude oil storage is filling up with unaccounted-for oil. There is a lot more oil in storage than the amount that can be accounted for by domestic production and imports. That’s a big problem since oil prices move up or down based on the U.S. crude oil storage report. Oil stocks in inventory represent surplus supply. Increasing or decreasing inventory levels generally push prices lower or higher because they indicate trends toward longer term over-supply or under-supply.
  • Biggest Draw In Crude Stocks This Century Sees Oil Prices Spike

    09/08/2016 8:53:07 AM PDT · by bananaman22 · 2 replies ^ | 08-09-2016 | EIA
    U.S. commercial crude oil inventories declined by 14.5 million barrels during the week ending on September 2nd, according to the Energy Information Administration’s latest report. The American Petroleum Institute (API) report on domestic inventories anticipated a 12 million barrel draw in crude supplies, against expert predictions that inventories would increase by 905,000 barrels.
  • Knock Knock, Who’s there? Diane Feinstein…

    12/12/2014 9:43:52 AM PST · by Kaslin · 11 replies ^ | December 12, 2014 | D. W. Wilber
    With the release of Democrat Senator Diane Feinstein’s report on the CIA’s Enhanced Interrogation program, a forty million dollar joke has been perpetrated on the American people, curtesy of the California senator. As U.S. military bases and diplomatic facilities around the world are placed on high alert for possible attacks by Muslims further inflamed by the declassified details of the report, the costs of Senator Feinstein’s ‘knock knock joke’ will continue to spiral upwards as we’re forced to ramp up additional security precautions to address the threat. Millions more will be spent, and unfortunately lives will probably be lost so...
  • EIA raises US oil forecasts for 2014-2015

    05/21/2014 3:40:01 PM PDT · by ckilmer · 12 replies ^ | May 13, 2014 | Lina Roger
    EIA raises US oil forecasts for 2014-2015 The U.S. Energy Information Administration (EIA) raised its estimates for U.S. oil production this year and next thanks to higher than expected production in the Gulf of Mexico COMMENTS( 0 ) In 2015, the United States will record its highest production since 1972. In its short term Energy Outlook, the U.S. Energy Information Administration said the country will produce 8.46 million barrels per day of crude oil in 2014, compared to 8.37 million barrels a day in the April forecast. For next year, the EIA estimates production of 9.24 million barrels a day...
  • The Levelized Cost of Electric Generation

    02/16/2014 8:41:34 AM PST · by rktman · 18 replies ^ | 2/16/2014 | Willis Eschenbach
    In early 2013, the US Energy Information Agency (EIA) released their new figures for the “levelized cost” of new power plants. I just came across them, so I thought I’d pass them on. These are two years more recent than the same EIA cost estimates I discussed in 2011 here. Levelized cost is the average cost of power from a new generating plant over its entire lifetime of service. The use of levelized cost allows us to compare various energy sources on an even basis. Here are the levelized costs of power by fuel source, for plants with construction started...
  • Capping Jobs

    08/13/2009 5:27:29 PM PDT · by Kaslin · 4 replies · 892+ views
    IBD Editorials ^ | August 13, 2009 | INVESTORS BUSINESS DAILY Staff
    Cap-And-Trade: The administration likes to defend bad policies with analogies to the post office. New studies from a business group and the administration itself confirm that cap-and-trade belongs in the dead-letter bin.Along with Energy Secretary Steven Chu, Rep. Ed Markey likens the cost of the Waxman-Markey cap-and trade bill to "about a postage stamp a day," based on estimates made by the Congressional Budget Office and the EPA. But as we and others have shown, they arrive at this magical number in part by ignoring the hit on gross domestic product and employment that will occur. As Garret Vaughan, economist...
  • Ramirez, IBD On Senate Spike Of Yucca Mountain

    08/04/2009 8:00:00 PM PDT · by WhiteCastle · 3 replies · 674+ views ^ | August 4, 2009 | Ed Morrissey
    One can measure the dedication of the climate-change crowd in how they approach the zero-emissions technology of nuclear power. Some have realized that the only practical way to replace coal as a source for electricity is to invest heavily in nuclear power. Others, such as Harry Reid and his allies in the Senate, have done their best to shut the door on that path away from coal, which calls into question their motives in forcing cap-and-trade schemes onto the US. Investors Business Daily rips Reid and the administration for blocking the use of Yucca Mountain for safe fuel reprocessing, which...
  • Death Knell For Nuclear Power?

    08/03/2009 10:23:33 PM PDT · by Steelfish · 23 replies · 1,460+ views
    Investors Business Daily ^ | August 03, 2009
    Death Knell For Nuclear Power? August 03, 2009 Energy: A Senate vote to kill funding for the spent fuel repository in Nevada shows the Democratic Party and this administration aren't serious about energy independence, economic growth or environmental Killing the storage facility for the spent fuel rods produced by the nation's nuclear power industry has long been a dream of Senate Majority Leader Harry Reid and President Obama. Last week, the Senate granted their wish, voting to deny the resources needed to complete a review necessary for Yucca Mountain to open. "This is a major victory for Nevada," said Reid,...
  • Death Knell For Nuclear Power?

    08/03/2009 5:02:09 PM PDT · by Kaslin · 12 replies · 752+ views
    IBD Editorials ^ | August 3, 2009 | INVESTORS BUSINESS DAILY Staff
    Energy: A Senate vote to kill funding for the spent fuel repository in Nevada shows the Democratic Party and this administration aren't serious about energy independence, economic growth or environmental protection.Killing the storage facility for the spent fuel rods produced by the nation's nuclear power industry has long been a dream of Senate Majority Leader Harry Reid and President Obama. Last week, the Senate granted their wish, voting to deny the resources needed to complete a review necessary for Yucca Mountain to open. "This is a major victory for Nevada," said Reid, who is up for re-election next year. "I...
  • Pelosi On Energy Policy

    08/15/2008 10:02:09 PM PDT · by Delacon · 11 replies · 173+ views ^ | August 16, 2008 | Robert Murphy
    Last Monday, Nancy Pelosi appeared on Larry King to promote her new book (see transcript).  When the discussion turned to energy policy, she dropped a few doozies.  Not only are her talking points wrong, but they even contradict each other.  The majority of Americans favor increasing U.S. oil production, and so Ms. Pelosi has to engage in mental gymnastics to cloud the issues.When King asked her how to bring down the price of oil, Pelosi’s answer was, “We have said to the president, the fastest way to do this is—in 10 days the price can come down if you will...
  • Offshore Oil Production Est. Illustrates Flaws in Forecasting ( Liberal Lies Exposed )

    08/08/2008 9:57:39 AM PDT · by Para-Ord.45 · 22 replies · 164+ views
    Politicians have a knack for citing statistics that support their positions. Those who are opposed to increasing domestic supplies of energy are especially adept at citing statistics that make it seem as though it is “not worth it.” Government reports, while not all wrong, can be rife with such statistics. Recently, for example, some have pointed an Energy Information Administration (EIA) report that estimated the amount of oil we could produce on the Outer Continental Shelf (OCS) if the drilling ban were lifted. EIA estimated this to be approximately 200,000 barrels per day. 1 Unfortunately, this figure – and the...
  • Saudis benefiting most from high oil prices

    09/02/2006 10:04:33 PM PDT · by M. Espinola · 17 replies · 1,316+ views
    Gulf News ^ | 09/03/2006 | Stanley Carvalho
    Abu Dhabi: A new report from the Energy Information Administration of the US Department of Energy showed Saudi Arabia is the main beneficiary of high oil prices. But it noted the kingdom's spare capacity has sharply dwindled in the past few years because of higher output. Saudi Arabia controls nearly a quarter of the world's recoverable crude resources. "Saudi Arabia's oil export revenues increased sharply [49 per cent] in 2005 compared to 2004, and are projected to increase again [6 per cent] in 2006 before falling [-7 per cent] in 2007," it said. It noted that during 2003-2004, Riyadh benefited...
  • Networks Falsely Cite "Record High" Price for Barrel of Oil (Why Do They Get Away With It?)

    04/20/2006 1:25:45 PM PDT · by fight_truth_decay · 29 replies · 1,530+ views
    MRC ^ | Thursday April 20, 2006 | BrentBaker
    Though in constant, inflation-adjusted dollars -- the only way to measure prices over time -- a price of a barrel of oil will have to exceed $87 to reach a record high, the broadcast networks have been falsely trumpeting nominal oil prices as a "record high." On Wednesday night, for instance, CBS Evening News anchor Russ Mitchell inaccurately asserted that "oil prices hit another record high today, closing above 72 bucks a barrel." NBC's Brian Williams wrongly claimed that oil prices were "surging to yet another record high close. The gain on the day 82 cents per barrel. Closing price...
  • Oil hits record $74 on Iran, US gasoline stocks

    04/19/2006 2:59:50 PM PDT · by M. Espinola · 68 replies · 1,330+ views
    (Reuters) ^ | 4-19-06
    LONDON - Oil hit a record $74 a barrel Wednesday on fears Iran's intensifying dispute with the West may hit oil supplies and after U.S. gasoline stocks dropped. London's Brent crude settled $1.22 higher at $73.73 a barrel after peaking at a record $74. U.S. gasoline stocks slumped more than 5 million barrels last week, government data released Wednesday showed. It was a larger fall than analysts polled by Reuters expected, and supplies are now nearly 5 percent below last year's level. "The EIA (inventory) data are bullish in light of expectations," said Kyle Cooper, analyst at IAF Advisors in...
  • Hurricane Katrina's Impact on the U.S. Oil and Natural Gas Markets

    09/02/2005 10:53:05 PM PDT · by humint · 16 replies · 1,324+ views
    Energy Information Agency ^ | Friday, September 2, 4:00 pm | EIA
    According to the Minerals Management Service (MMS), as of 11:30 Central Time September 2, Gulf of Mexico oil production was reduced by over 1.328 million barrels per day as a result of Hurricane Katrina, equivalent to 88.53 percent of daily Gulf of Mexico oil production (which is 1.5 million barrels per day). The MMS also reported that 7.248 billion cubic feet per day of natural gas production was shut in, equivalent to 72.48 percent of daily Gulf of Mexico natural gas production (which is 10 billion cubic feet per day). On Friday, September 2, the International Energy Agency (IEA) directed...
  • EIA Forecasts Continued High Crude Oil Prices

    06/21/2005 8:38:47 AM PDT · by rockthecasbah · 2 replies · 311+ views
    Energy Information Administration ^ | June 2005 | Energy Information Administration
    Energy Information Administration Short-Term Energy Outlook – June 2005 Monthly average WTI prices are projected to remain above $50 per barrel for the rest of 2005 and 2006. Several factors are contributing to the expectation of continued high crude oil prices. First, worldwide petroleum demand growth is projected to remain robust during 2005 and 2006, although not as strong as in 2004, despite high projected oil prices. Worldwide oil demand is projected to grow at an annual average of 2.1 million barrels per day in 2005 and 2006, representing a 2.5-percent annual average growth rate compared with 3.2 percent growth...
  • Study: Greenhouse Gas Limits Affordable [Say hello to Kyoto fans]

    04/15/2005 2:08:47 PM PDT · by Brian328i · 3 replies · 276+ views
    WASHINGTON Apr 15, 2005 — Mandatory limits on all U.S. emissions of carbon dioxide and other "greenhouse" gases would not significantly affect average economic growth rates across the country through 2025, the government's says. That finding by the Energy Information Administration, an independent arm of the Energy Department, runs counter to President Bush's repeated pronouncements that limits on carbon dioxide and other gases that warm the atmosphere like a greenhouse would seriously harm the U.S. economy. Bush has proposed ways of slowing the growth rate in U.S.-produced greenhouse gases and methods to reduce emissions of methane internationally. But he rejected...
  • Government warns of late-summer gasoline price surge

    08/13/2003 5:36:57 PM PDT · by MatthewViti · 13 replies · 194+ views
    CNN ^ | 8/13/03 | Reuters
    <p>WASHINGTON (Reuters) -- As the U.S. summer vacation season winds down, Americans face a surge in gasoline prices, the government warned on Wednesday.</p> <p>Pump prices have increased 5.5 cents a gallon nationally over the last two weeks, the Energy Information Administration said in its weekly review of the oil market.</p>