Energy Production Continues to Grow

In 2024, according to a new report from the U.S. Energy Information Administration (EIA)the United States produced a record amount of energy. U.S. total energy production was more than 103 quadrillion British Thermal Units (BTUs) in 2024, a one percent 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.

(“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,” said the EIA report.)

Natural gas accounted for about 38 percent 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 percent 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 ten percent 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.

Natural gas plant liquids (NGPL), which includes fuels such as ethane and propane that are associated with natural gas processing, accounted for about nine percent of U.S. total energy production in 2024. NGPL production was a record four trillion cubic feet in 2024, up seven percent from 2023. Domestic NGPL production have increased every year since 2005 as U.S. natural gas production and processing capacity have increased.

Biofuels, wind, and solar production each set records in 2024, contributing to record total renewable energy production in the United States. In 2024, U.S. total biofuels production, which includes ethanol, renewable diesel, biodiesel, and other biofuels such as sustainable aviation fuel (SAF), was a record 1.4 million barrels per day, up six percent from previous records set in 2023.

In 2024, U.S. solar and wind production increased by 25 percent and eight percent respectively, as new generators came on-line. 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).

Share

The First Step Starts with Finley… and a FREE Consultation!

=
WP Twitter Auto Publish Powered By : XYZScripts.com