Global warming, climate change, all these things are just a dream come true for politicians. I deal with evidence and not with frightening computer models because the seeker after truth does not put his faith in any consensus. The road to the truth is long and hard, but this is the road we must follow. People who describe the unprecedented comfort and ease of modern life as a climate disaster, in my opinion have no idea what a real problem is.
Guest “Looking for energy transitions in all the wrong places” by David Middleton
Despite the best efforts of Biden’s autopen, US primary energy production set a new record in 2024. Natural gas and crude oil led the way, by a WIDE margin and natural gas plant liquids actually overtook renewables…
In 2024, the United States produced a record amount of energy, according to data in our Monthly Energy Review. U.S. total energy production was more than 103 quadrillion British thermal units in 2024, a 1% increase from the previous record set in 2023. Several energy sources—natural gas, crude oil, natural gas plant liquids, biofuels, solar, and wind—each set domestic production records last year.
Natural gas accounted for about 38% of U.S. total energy production in 2024 and has been the largest source of U.S. domestic energy production every year since 2011, when it surpassed coal. U.S. dry natural gas production was nearly 38 trillion cubic feet, about the same as in 2023.
Domestic crude oil accounted for about 27% of U.S. total energy production in 2024, as the United States continues to be the world’s top crude oil-producing country. U.S. crude oil production was a record 13.2 million barrels per day in 2024, 2% more than the previous record set in 2023. Almost all of the production growth came from the Permian region that spans parts of New Mexico and Texas.
Coal accounted for about 10% of U.S. total energy production in 2024. At 512 million short tons, last year’s coal production was the lowest annual output since 1964. Coal was the largest source of U.S. energy production from 1984 through 2010.
In 2024, U.S. solar and wind production increased by 25% and 8%, respectively, as new generators came online. Output from other energy sources that are primarily used for electric power generation either peaked decades ago (hydropower and nuclear) or fell slightly from their 2023 values (geothermal).
We convert sources of energy to common units of heat, called British thermal units, to compare different types of energy that are usually measured in units that are not directly comparable, such as barrels of crude oil and cubic feet of natural gas. Appendix A of our Monthly Energy Review has the conversion factors that we use for each energy source.
Natural gas plant liquids (NGPL): Those hydrocarbons in natural gas that are separated as liquids at natural gas processing, fractionating, and cycling plants. Products obtained include ethane, liquefied petroleum gases (propane, normal butane, and isobutane), and natural gasoline. Component products may be fractionated or mixed. Lease condensate and plant condensate are excluded. Note: Some EIA publications categorize NGPL production as field production, in accordance with definitions used prior to January 2014.
Natural gas plant liquids (NGPL) production: The extraction of gas plant liquids constituents such as ethane, propane, normal butane, isobutane, and natural gasoline, sometimes referred to as extraction loss. Usually reported in barrels or gallons, but may be reported in cubic feet for purposes of comparison with dry natural gas volumes.
From 2016-2022, renewable energy production received $84 billion in Federal subsidies.
Over the same time period, natural gas and petroleum liquids “subsidies” totaled just over $9 billion.
In both cases, over 90% of the subsidies were categorized as “tax expenditures” – AKA tax deductions and credits. However, there’s a big difference. Wind and solar qualify for fully transferable tax credits. While oil & gas tax expenditures are simply deductions to offset the costs of drilling and production.
Bang for the buck
In 2022, renewables received $1.9 billion in subsidies per quadrillion Btu (Quad) of energy production. Oil and natural gas only received $33 million per Quad.
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