Aenert news. Energy Market & Energy Statistics
In the last days of March, the U.S. Energy Information Administration published another Monthly Energy Review, which provides statistical data for four last months of 2022 on production and consumption of major energy products in the United States. The table below shows data from that review converted to quarterly figures (Q) for 2022. The table also includes data for the fourth quarter of the previous year for adequate comparison.
This comment, along with similar ones from our archive concerning China and Europe, provides a comparison of key energy indicators in the world's leading economic regions. This is especially important at this time due to the global turmoil in energy markets and the increasingly tangible cold breath of an impending global recession. The fourth-quarter data for the U.S. below show contradictory trends rather than definite negative trend movements.
Production of energy products in the US, 2021 Q4 - 2022 Q4
| Energy Indicator/Q | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 |
|---|---|---|---|---|---|
| Crude Oil, Field Production (Thousand Barrels per Day) | 11664 | 11462 | 11698 | 12061 | 12298 |
| Crude Oil, Refinery and Blender Net Inputs (Thousand Barrels per Day) | 17921 | 17534 | 18837 | 18917 | 18172 |
| Dry Natural Gas Production (Billion Cubic Feet) | 8969 | 8558 | 8880 | 9150 | 9214 |
| Natural Gas Exports, Total (Billion Cubic Feet) | 1723 | 1794 | 1751 | 1638 | 1705 |
| Coal Production (Thousand Short Tons) | 146355 | 148992 | 145659 | 154270 | 145666 |
| Electricity Net Generation (Billion Kilowatthours) | 970 | 1029 | 1026 | 1188 | 1001 |
Source: Based on U.S. Energy Information Administration
At a glance, we note a slight increase in natural gas production in 2022 Q4 compared to the previous quarter – by more than 1%, which almost coincides with an increase in exports of this product. Oil production was also up 1.8% from 2022 Q3. However, comparing 2022 Q4 vs. 2021 Q4, crude oil production is already up 5.3% and natural gas production is up 2.7%. If we take into account that Crude Oil, Refinery and Blender Net Inputs increased by almost 1.5% over the same quarters, while coal production was virtually unchanged, we can conclude that the fossil fuel industry performed quite well.
As for electricity generation, the configuration of the monthly volume charts in 2022 Q4 and 2021 Q4 is largely the same, with the difference in the totals being a little over 3% in favor of 2022 Q4.
Electric power generation in the US by source type in 2021 Q4 - 2022 Q4
Source: Based on U.S. Energy Information Administration
In 2022 Q4, the share of natural gas in electricity generation increased by almost 1%, wind turbine and solar collectors – by 0.2% and 0.4% respectively, compared to the same quarter the previous year. At the same time, the share of coal-fired generation decreased by 0.3%, nuclear and hydroelectric by 0.7% respectively.
Percentage of electric power generation by source type in 2021 Q4 and 2022 Q4
Source: Based on U.S. Energy Information Administration
Thus, comparing the 2021 Q4 and 2022 Q4 figures, it can be concluded that the production of major energy products in the U.S. is increasing markedly, undoubtedly due to demand from the industrial sector and households. The negative factors include a small (within one percent) total increase in the share of fossil fuels in electricity generation.
By the Editorial Board
