Natural gas

  • 3,179Bcf: Natural gas working inventories July 2016
  • 20% increase from 2015, 23% higher than 2011-2015 weekly average
  • $48/barrel: North Sea Brent crude oil spot average June 2016
  • $2/b increase from May

Forecast (EIA)

Brent crude oil

2016: $44/b

2017: $52/b

Natural gas plant liquids

2015: 14.8 millionb/d

2040: 18.6 million b/d

New well oil production

Bakken

2015: 681b/d

2016: 796b/d (155b/d increase)

Eagle Ford

2015: 575b/d

2016: 983b/d (226b/d increase)

Permian

2015: 359 b/d

2016: 470b/d (111b/d increase)

Crude oil production from the Lower 48 states should level off in the Q1 and Q2 2017.

Clean Power Plan

The Clean Power Plan (CPP) is projected to cause natural gas-fired electricity generation to exceed coal-fired electricity generation by 2022*, while generation from renewables – driven by wind and solar—will overtake coal-fired generation by 2029. *Mining company Joy Global officials expect natural gas to out generate coal in 2016.

Coal Production Shares

230 million tons (26%)Decline (2015 – 2040)

West: 55%

Interior: 19%

Appalachian: 26%,

Renewables

Even without the CPP, significant growth in renewables generation is projected throughout the country, due in large part to Congress’s recent extension of favorable tax treatment for renewable energy sources.

2015 to 2030 power generation growth (annual average rate)

Without CPP

Renewables generation: 3.9%

Natural gas generation: 0.6%

With CCP

Renewable generation: 4.7%

Natural-gas generation: 1.6%

Source: U.S. Energy Information Administration