U.S Energy Information Administration EIS - World Consumption
U.S. Energy Market: Part 1 Consumption
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Transcript of U.S. Energy Market: Part 1 Consumption
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U.S. Energy Market: Part 1Consumption
We consume 26% of World Energy or nearly 20 mmbo per day
Mature market economy
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U.S. Energy Consumption, 1775-1999
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Energy Consumption by Fuel, 1949-2020
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U.S. Energy Flow, 1999 (Quadrillion Btu)
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Transportation Consumption
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Industrial Consumption
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Long-Term Heating Oil Use (1947-1999)Residential, Commercial & Farming
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Cost of Household Energy, 1979-1999Inflation Adjusted to 2000 Dollars
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O& G Journal - 8/28/2000
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Household Expenditures by Space-Heating Intensity, 1997
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Gasoline Market
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Gasoline Consumption
O& G Journal - 7/24/2000
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Motor Vehicle Efficiency
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Gasoline Additives & Markets
O& G Journal - 7/10/2000
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O& G Journal - 7/10/2000
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O& G Journal - 7/10/2000
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Environmental Investments
O& G Journal - 7/17/2000
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O& G Journal - 7/17/2000
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Renewable Energy Consumption by Source
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Renewable Energy Consumption by Source
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Renewable Energy Consumption by Source
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U.S. Energy Market: Part 2Production
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Production and Consumption
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Petroleum Production and Consumption
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Oil Flow, 1999 (Millions Barrels per Day)
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Oil Well Productivity
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Lower 48 and Alaskan Crude Oil Production
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Natural Gas Overview
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Natural Gas Flow, 1999 (Trillion Cubic Feet)
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Energy Production, 2000
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Coal
• Major source of energy since 19c.• Production in eastern and western US• Significant CO2 and particulate emissions• Cleaner plants (still disposal issue)• Coalbed methane (capital investment)• International CO2 reduction (e.g., EPA/China)• Coal consumption down -both US & World• Key factors in production: rank, thickness,
continuity of beds; sulfur content; transportation; politics
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Nuclear
• Significant since early 1970’s• No new plants approved, but licenses
renewed in several• Many plants deactivated• Nuclear waste disposal issue• International issues
- Russia/FSU
- France/Korea/Japan• Three Mile Island (1979) & Chernoble (1986)
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Types of Oil and Gas Wells
• Exploration (high risk) ~10% av. success rate
Frontier
New basins
• Development (lower risk)Fields (Rocky Mt thrust belt v. Permian Basin)
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Oil & Gas Exploratory Wells, 1949-1999
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O& G Journal - 9/25/2000
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O& G Journal - 9/25/2000
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Oil & Gas Exploratory Wells, 1949-1999
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O& G Journal - 9/25/2000
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Oil & Gas Exploratory Wells, 1949-1999
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Oil & Gas Development Wells, 1949-1999
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Oil & Gas Development Wells, 1949-1999
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Oil & Gas Development Wells, 1949-1999
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Oil & Gas Drilling Activity Measurements
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Drilling, Finding and Development Cost
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Technically Recoverable Petroleum Resource Estimates, January 1, 1999
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Technically Recoverable Petroleum Resource Estimates, January 1, 1999
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Technically Recoverable Petroleum Resource Estimates, January 1, 1999
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Summary
• U.S. oil production will continue to decline• U.S. increasing will be dependent upon oil
imports• Natural gas is of growing significance• Renewable energy and new technologies
are extremely important• Protecting the environment is a high
priority• A strong economy is a high priority
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• April, 2001 WSJ/NBC poll found that energy was our most important economic issue by 3 to 1.
• US energy self-sufficiency is a myth (if we rely on fossil fuels).
• Is anyone concerned in Jan, 2002?
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Part 3 Petroleum Reserves
• Industry Inventories– For operational needs (pipelines, refineries,
supply/demand)
• Strategic Petroleum Reserve (SPR)– Government controlled, emergency use
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Strategic Petroleum Reserve
• 700 mmbo capacity at four salt domes in US Gulf Coast (545 mmbo in place in 2001).
• The SPR can hold approximately 70 days of oil imports at current demand.
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Strategic Petroleum Reserve Stocks
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2001 Oil Futures: Nymex
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END
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References
• SPR drawdowns trigger law of unintended consequences bySarah Emerson,Oil&Gas Journal, Dec 10, 2001, p. 24-30.
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Inflation-Adjusted Cost of Crude Oil
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SPR as Share of Domestic Stocks
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O& G Journal - 7/24/2000
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Inflation-Adjusted Cost of Crude Oil