Real Clear Energy Charticles

Energy Charts Interpretated and Analyzed by RCEnergy

The Asia-Middle East Connection

The U.S. may feel it is dependent on the Middle East for oil, but it is nothing compared to the Pacific Rim countries. The above graph shows where South Korea, an industrial giant with virtually no natural resources, gets its oil. Saudi Arabia and Kuwait alone account for half and virtually everything else is form the Middle East as well. Russia provides a slim 4 percent although this may...

Russian Gas Reserves Dwarf Those of U.S., Saudi Arabia

Lest there be any doubt that Russia is playing a strong hand in the Crimea, it is worth noting that Russia's gas reserves are four times those of the United States and five times those of Saudi Arabia. The top bar chart measures proven reserves. This is the amount of gas that can be brought forth at today's prices. Russia's measure 1700 trillion cubic feet (tcf) while the United States - even...

80% of Russia's Energy Trade Is With Europe

President Obama dismisses Russia as a "regional power," but unfortunately that region encompasses all of Western Europe. Russia does most of its foreign trade in energy resources - oil and gas - and the overwhelming amount of this is done with the European Union. Russia does $270 billion in trade with the EU, 15 times the amount of Russian-U.S. trade. Fully 84 percent of Russia's oil exports...

Gas Inventories Far Below Previous Years

Natural gas inventories are now less than half their five-year average due to the record draw-down this winter because of unusually cold weather. "Inventories now stand at 826 bcf, which is 847 bcf below the year-ago level and 989 bcf below the five-year average (calculated using a slightly different methodology than the EIA)," reports Seeking Alpha. The graph shows 2013 figures in green and the...

Different Strokes for Different Folks

Vaclav Smil, the great Canadian expert on energy, was interviewed by The Wall Street Journal today and makes the point that the solutions to energy questions of local, not global. "When you talk in terms of electricity, renewable is very important," Smil told Journal editor Jeffrey Ball. "Hydro in Manitoba. Hydro in Sweden. Wind in Denmark. Of course, those are very important. But when you look...

Gas's Portion of Electrical Generation Falls Back

Natural gas's portion of the electrical generating market has fallen back slightly over the first three months of 2014, although it is still far above its historic levels. The lines represent gas's percentage of U.S. power generation over the course of the year for the last five years. Gas generation tends to rise in the summer, peaking in August. This is because it is used widely to meet...

Crude Inventories at Cushing Way Down from 2013

Crude oil inventories at Cushing, Oklahoma, the "Pipeline Capital of the World," are way down from their 2013 levels and headed for the range of 2005-2008, before the spurt of production in the Bakken began. However, the explanation does not appear to be that inventories are falling on a national level. Instead, the pattern of distribution is changing. The EIA attributes the drop to the...

As Imports Decline, the Big Three's Share Grows

As oil imports increase, something strange is happening. The share of the big three - Canada, Mexico and Saudi Arabia - is increasing. Canada is the big winner, with its share rising to 2.5 million barrels per day. Some of this is Canadian tar sands finding its way into the country by rail, despite the delay in the Keystone Pipeline. Canada's imports now surpass those of all other countries...

Rail Congestion Raises Ethanol Prices

Even as the EPA debates on whether to cut the ethanol renewable fuels mandate for 2014, ethanol is running into another big problem – congestion on the railroads that has doubled the price over the last few months. The problem has been severe winter conditions in the Midwest plus all the competition now coming from Bakken oil and Canadian crude seeking an outlet as the Keystone Pipeline...

2013 Energy Imports Lowest Since 1988

U.S. net energy imports continued their headlong fall in 2013, descending to their lowest level since 1991. The figures offered by the Energy Information Adminostratin this week are offered in quads (quadrillion BTUs). Net imports declined a remarkable 19 percent below the 2012 figure to 13 quads, about where they were in 1988. Altogether, the country consumes about 100 quads, a figure that...

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