Oil prices are off about 40% in just one year. And the number of rigs drilling new oil wells has likewise plummeted since last summer. But U.S. oil production is up, and promises to keep climbing.
In a recent issue, we noted that the battery industry is poised for growth as both utilities and their customers look for ways to store energy for use when demand is high or the electric grid fails. Battery tech is advancing and costs are falling, but batteries are far from the only viable way to store energy or provide backup power in emergencies. Two other approaches — one novel and one traditional — are also making strides.
The boom in shale oil and gas isn’t just unleashing a flood of new energy sources in the U.S. It’s also driving a massive build-out of the nation’s energy-carrying infrastructure, which is needed to bring that big bounty of crude oil and natural gas to market. At the same time, big changes for the electric grid mean utilities are investing heavily in new transmission lines to make sure your lights stay on.
The hydraulic fracturing boom has unlocked massive new supplies of natural gas, and in the process has driven gas prices to rock-bottom levels. But signs of building gas demand suggest that a long-term price recovery is in the works.
Oil prices have rebounded from their winter lows. But the oil industry isn’t out of the woods yet.
Whether you’re a homeowner, a renter or a business owner, and regardless of the energy source you rely on for heating, cooling and lighting, there is one simple way to save on your energy bill: Use less energy. To help you do so, this issue of Kiplinger’s Energy Alerts (issues are free through June 9) outlines ways to shave your utility costs, from making quick and easy changes to investing more substantially in energy efficiency.
Welcome to Kiplinger’s Energy Alerts — a digital heads-up on coming trends and breaking developments in the energy industry. The alerts are free through June 9. In this issue, we zero in on what’s shaping up as a momentous year for the U.S. oil market: Oil prices are down, U.S. crude production is up, and many Americans are ditching fuel sipping compact cars for pickup trucks and SUVs like it’s 1999, boosting gasoline demand. And we’re only in April. Here’s how I see the remainder of the year for U.S. and global oil markets plus my read of oil supply-and-demand trends over the longer term.
Welcome to our second free trial issue of Kiplinger’s Energy Alerts, a digital heads-up on coming trends and breaking developments in the energy industry. Energy Alerts will come to you by e-mail every other week. This week’s issue zeros in on how battery technology — so vital to the future of sustainable power distribution — is advancing and on which areas of battery research show the most promise. We also provide a road map for energy investors attempting to navigate the big tumble in oil prices.