Petroleum

Going the Way of the Typewriter?

A generation is growing up in the United States with no idea what a typewriter is! Once an important part of the work place, typewriters are almost impossible to find these days. Will the same be said about home heating oil tanks, outside limited areas, several generations from now?

Home heating chart    » read more »

Spring and the Summer-Grade Gasoline Price Bump

For many, the sight of a bird’s eggs hatching or tulips blooming signifies the arrival of spring. Historically, spring is also the time for rising gasoline prices. Over the last 10 years, the monthly average retail price for regular-grade gasoline has increased by an average 7 cents a gallon from April to May. In EIA’s latest Short-Term Energy Outlook, the average gasoline wholesale price for May is projected to increase by 10 cents per gallon from last month.    » read more »

April 16, 2008 -- If winter is the “Most Wonderful Time of the Year” as the popular song implies, it may not be too much of a surprise that gasoline consumers find the spring and summer anything but wonderful, when it comes to prices. This year’s upcoming spring and summer are expected to see retail gasoline prices rise even further from current high levels.

Seasonal increases in gasoline demand    » read more »

Where Have All the Drivers Gone?

Does it seem like there are fewer cars on the highway this year? The recent trend in motor gasoline consumption would appear to indicate so. Gasoline consumption has been declining for at least six months. Households may be thinking twice about jumping in the family car as a slowing economy and rising prices are stressing pocketbooks from Maine to Hawaii.    » read more »

Winter Fuels Wrap-Up

April 2, 2008 - Despite what may have appeared as a harsh winter in some regions, actual temperatures across the Nation remained close to normal over most of the 2007-08 winter heating season. The variation in temperatures over portions of the key heating regions in the Midwest and East Coast, with some periods of mild weather and others of more severe weather, contributed to moderate overall heating fuels demand last winter.

Gas pump nozzle: Photo by Brian Herbst (CC)

In contrast, past winters have shown that prolonged periods of extremely cold temperatures often caused significant supply disruptions.    » read more »

Bait and Switch

Many drivers in the U.S. who chose diesel-fueled vehicles over gasoline-fueled ones may have done so for the expected savings from higher fuel economy and historically lower prices per gallon, especially during the summer driving season. However, diesel is currently selling at about a 70-cent premium to gasoline at the retail pump, and that has consumers scratching their heads.    » read more »

Heating Fuels Prices At Record Levels

With crude oil prices over $100 per barrel and cold weather in many parts of the country driving up demand, heating fuel prices have been setting new record highs. With residential prices from the beginning of winter to mid-March averaging $3.28 per gallon for heating oil and $2.46 per gallon for propane, and this week’s average heating oil price above $3.85, prices for the winter as a whole are likely to set a new nominal record.    » read more »

$4 per gallon?

When the weather forecast calls for a partly sunny day, will it be sunny where you are? Or, if the weather forecast calls for a “chance of scattered showers,” does that mean it will be raining at the park when you’re planning to have a picnic? While it may be interesting to know what the overall weather might be, what we’re really interested in is what the weather will be for us at some important time of the day.    » read more »

"The Long Run"

In 1979, the Eagles released “The Long Run”, an album whose title track includes the lyric “We’ll find out in the long run.” This week, EIA released revised long-run reference case energy projections which incorporate the estimated impact of the Energy Independence and Security Act of 2007 (EISA2007) that was signed into law in December 2007.    » read more »

February 26, 2008 -- The Strategic Petroleum Reserve (SPR) was created in 1975 to help insulate the U.S. economy from oil supply disruptions and currently holds about 700 million barrels of crude oil. The Energy Policy Act of 2005 directed the Department of Energy (DOE) to increase the SPR storage capacity from 727 million barrels to 1 billion barrels, which it plans to accomplish by 2018.    » read more »

Looking for Shadows

February 2 was Groundhog Day. According to the lore, if the groundhog sees its shadow that day when peeking out of its burrow, there will be six more weeks of winter weather. While Punxsutawney Phil, perhaps the Nation’s most famous groundhog, did see his shadow on that day, it was reported that Jimmy the Groundhog, of Sun Prairie, Wisconsin did not, giving us conflicting forecasts on whether the United States will have an early spring. Reportedly, there were at least a dozen Groundhog Day celebrations across the country, with mixed results.    » read more »

A Possible Economic Slowdown and Its Impact on Oil Demand

Economic analysts became concerned about the durability of the U.S. economic expansion earlier in 2007 due primarily to the apparent weakness in the housing market and the possibility that this weakness would spread to other sectors of the economy. By August 2007, U.S. economic policy makers, households, and firms became even more concerned about the economy as financial market conditions deteriorated.    » read more »

On Sunday, February 3, millions of Americans will be watching Super Bowl XLII, to see if the New England Patriots or the New York Giants will be crowned champions of the most recent football season. However, two days before the “Big Game”, another event will take place that could have a larger impact on the daily lives of Americans. On February 1, the Organization of the Petroleum Exporting Countries (OPEC) will meet to discuss whether any change in production targets is warranted. Their decision could impact the price of gasoline this spring.    » read more »

The Cost of Coming in from the Cold

It’s the middle of January, and the temperatures outside remain chilling. It’s the time of year when many people, especially in the Northeast, are relying on heating oil to keep the inside temperatures toasty. However, this year, using heating oil has been a costly proposition.    » read more »

Comparing the Present to the Past

Tom Brady and Brett Favre, each just one game away from making it to the Super Bowl, are both sure to be inducted into the Pro Football Hall of Fame when their careers are over. Many might argue that one or the other is the greatest quarterback ever, but comparing either of them to the stars of the past requires looking at the context of the game in different time periods and making adjustments so that the comparisons are as meaningful as possible.    » read more »