Real Clear Energy Charticles

Energy Charts Interpretated and Analyzed by RCEnergy

Fall in Steel Shipments for Oil Rigs Is Coming

Bill Conerly of Forbes thinks there are more shoes to drop in the recessionary implications of the oil price collapse. He uses the above two graphs to make his point. As the graph at the left illustrates, steel shipments have followed the oil rig count almost precisely since 1992. The graph at the right simply shows the pattern over the last four years. In both graphs, however, the rig count...

Frackers Are Keeping Oil in Ground

Reporters at Bloomberg have discovered that the U.S. fracking industry has drilled 4,731 wells at which they have not yet turned on the spigot to get the oil flowing. That’s 322,000 barrels per day or almost as much as Libya produces in a year. “The number of wells waiting to be hydraulically fractured, known as the fracklog, has tripled in the past year as companies delay work in...

Most Gas Pipelines Built Before 1970

 Almost 60 percent of the nation’s gas pipelines were built before 1970.  That’s the figure from the Department of Energy’s Quadrennial Energy Report, issued this week.  Most of these older pipelines are now suffering maintenance problems and some will have to be replaced.  It’s a big task that DOE estimates will require an annual investment of $2.6...

The Economy Has Never Been Greener

Mark Perry of the American Enterprise Institute points out that the amount of BTUs required to produce the national GDP has been in a steady decline since the first Earth Day in 1970 and is now at its lowest point in history. Interestingly, the figure was climbing before environmentalism became a concern in the early 1970s. “The US economy was 28% larger last year than 14 years ago, even...

Who Wins, Who Loses in Oil Price Drop

Bloomberg has obligingly provided us with a world map showing who are the winners, the losers and the big losers in the collapse of the oil price. The winners are indicated in green, the mild losers ($60 billion or less) are depicted in orange and the big losers (more than $60 billion) are portrayed in red. Asia and Europe have actually done better than the United States, even though it is our...

Does OPEC Control the Price of Oil?

Does OPEC control the price of oil? The above graph would seem to suggest that it doesn’t. The blue bars represent OPEC’s spare capacity at any given moment. Mostly this is Saudi Arabia. When space capacity is low, that means the Saudis are pumping high (usually 12 million barrels a day as opposed to their normal 10.5 million). But this should be driving down the price of oil. ...

U.S. Is Now Producing 1/5th of World's Natural Gas

Because of the fracking revolution, the U.S. is now the world’s leading gas producer, supplying one-fifth of the world’s natural gas.  According to the Energy Informatian Administration, the US alone produced roughly one-fifth more natural gas than the entire Middle East last year.  Altogether, U.S. production was roughly equal to the combined output of Asia and Africa,...

Oil Production Increase Despite Decline in New Rigs

Call it something of a miracle but oil production in the U.S. has continued its steady pace of improvement despite a near collapse in the drilling of new wells. The collapsing price of oil has almost completely halted new investment, yet the existing wells continue to produce at a steadily improving pace. The suggestion is that the technology for extracting oil from existing wells has improved...

Mass Transit Doesn't Cut Car Use That Much

People in the northeast spend more on mass transit and people in the South spend more on gasoline for their cars, according to a survey just released by the Energy Information Administration. But the difference between what various parts of the country spend on gasoline is not nearly as great as what they spend on mass transportation. New York City and Boston have extensive commuter rail and...

RMI Predicts Solar World by 2050

The Rocky Mountain Institute has come out with another pie-in-the-sky projection of solar energy, arguing that by 2050 all the homes in Westchester County, NY will be off the electrical grid and completely supporting themselves by PV panels and electrical storage.  The graphs show the optimum standing for five cities around the country.  Honolulu is predicted to be entirely dependent on...

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