World Natural Gas Use to Hit a Record in 2024 - IER
Oct 11, 2024 · Global gas demand is set to hit a record high in 2024 and then again in 2025. The global gas balance, however, is “fragile” as limited LNG production growth keeps supply tight amid rising global demand, according to the International Energy Agency (IEA). In its annual Global Gas Security Review, the IEA noted that following the supply shocks of 2022-23, gas markets returned to more ...
The Environmental Impact of Lithium Batteries - IER
Nov 12, 2020 · During the Obama-Biden administration, hydraulic fracturing was accused of causing a number of environmental problems—faucets on fire, contamination of drinking water, etc.—but the administration’s own Environmental Protection Agency could not validate those accusations.. Now Biden is planning to transition the transportation sector to electric vehicles that are powered by lithium ...
The United States Was Energy Independent in 2019 for the First …
May 11, 2020 · U.S. energy production in 2019 was higher than U.S. energy consumption for the first time in 62 years. Thus, the U.S. attained the long-held goal of “energy independence”—which is not to say that we did not import or export energy, but …
Biden-Harris EPA Finalizes Methane Tax on Oil and Gas Operations
Nov 15, 2024 · The Biden-Harris administration’s Environmental Protection Agency (EPA) has finalized a federal methane tax for oil and gas drilling operations, set to take effect next year.This rule is part of the broader Inflation Reduction Act, which was passed by Democrats and saw Vice President Harris casting the decisive vote.The new regulation imposes a fee on oil and gas producers who exceed a ...
Electricity Rates are Expected to Climb as Biden-Harris Climate ...
Sep 20, 2024 · Since President Biden took office, residential electricity prices have surged by 23%, largely driven by the climate policies of the Biden-Harris administration.U.S. utility regulators are now considering further rate hikes as electric utilities seek to fund investments necessary for transitioning to wind and solar technologies. These technologies, often located far from demand centers, require ...
First Casualty after Newsom Signs California’s Minimum Refinery …
Oct 28, 2024 · Phillips 66 has announced plans to close its major oil refinery in the Los Angeles area by late next year, which will negatively impact California’s fuel supply amid soaring petroleum prices that are currently about 50% higher than the national average. The refinery, which produces 85,000 barrels of gasoline and 65,000 barrels of diesel and jet fuel daily, employs approximately 600 workers ...
Solar Power Depletes Farmlands of Rich Soil - IER
May 29, 2024 · Solar energy is depleting farmlands of their rich soils in the U.S. Midwest. The solar industry is moving into the U.S. Midwest, drawn by cheaper land rents, access to electric transmission, massive federal and state incentives, and the region’s wide-open fields.
Duke Extends the Life of Its Largest Coal Plant - IER
Oct 14, 2024 · Duke Energy Corp. plans to extend the life of its largest coal-fired power plant for 3 years, pushing aside its climate goal to shutter all facilities that burn coal by 2035. It plans to operate its Gibson Station in Indiana through 2038, despite previously saying that it would shutter the plant by 2035, in line with its earlier plan to be entirely coal-free by that year.
Price Controls and the 1970s Oil Crisis: Lessons for Today
Oct 24, 2023 · A half-century ago this month, the Arab members of the Organization of Petroleum Exporting Countries (OPEC) announced a production cut and an embargo against the United States.
Shortages Expected for Global Natural Gas Supply by Decade-End
Sep 10, 2024 · According to the International Gas Union’s Global Gas Report 2024, a Switzerland-based industry organization, the world will face a 20% shortfall in natural gas supply by the end of the decade if significant increases in supply and infrastructure are not achieved.If global demand for natural gas continues to rise over the next four years, and production does not expand accordingly, a 22% ...