February 2010

Trends and Resources

HP Impact: HPImpact: EIAs energy outlook

The US Energy Information Administration's (EIA) short-term energy outlook, published in January, offers a variety of interesting tidbits. The EIA projects the price of West Texas Intermediate (WTI) c..

Thinnes, Billy, Hydrocarbon Processing Staff

The US Energy Information Administration's (EIA) short-term energy outlook, published in January, offers a variety of interesting tidbits. The EIA projects the price of West Texas Intermediate (WTI) crude oil will average $80-$84 per barrel in 2010 and 2011. "EIA's forecast assumes that US real gross domestic product (GDP) grows by 2% in 2010 and by 2.7% in 2011, while world oil-consumption-weighted real GDP grows by 2.5% and 3.7% in 2010 and 2011," the outlook said. The increase in crude oil prices is expected to drive up the annual average gasoline retail price in the US. Gasoline was $2.35 a gallon in 2009 and the EIA sees that increasing to $2.84 in 2010 and $2.96 in 2011 (Fig. 1). Fur

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