Since Russia’s invasion of Ukraine, President Biden has overseen the largest sale of oil from the Strategic Petroleum Reserve (SPR) ever, to ease prices at the gasoline pump.
Having released 160 million barrels of crude since March, more than a quarter of the stockpile, the Energy Department has reduced the reserve to its lowest level in four decades.
Some oil experts say continuing the withdrawals could test the nation’s energy security. But even though oil prices have fallen sharply from their peak, the administration is not ready to start refilling the reserve. Instead, rather than ending the releases in October as planned, it has decided to extend them, at a lower rate, for at least another month.
#energy
Global proved oil reserves were 1732 billion barrels at the end of 2020, down 2 billion barrels versus 2019. OPEC holds 70.2% of global reserves. The top countries in terms of reserves are Venezuela (17.5% of global reserves), closely followed by Saudi Arabia (17.2%) and Canada (9.7%).
Source: BP - Statistical Review of World Energy 2021 Report
The sum total of energy consumption includes electricity, transport and heating. Primary energy is measured in terawatt-hours (rather than million tonnes of oil equivalents, or alternative energy units).
Source: Our World in Data based on BP; EIA; Gapminder & UNWPP; Bolt, Jutta and Jan Luiten van Zanden (2020)
The United States has the most nuclear reactors in the world with 93 and the most capacity at 95,523 MW. They are on the older side, however, as the mean age of their fleet is 40.6 years.
France relies the most on nuclear power for electricity in the country, with reactors accounting for 67% of total output. China has the most reactors currently under construction with 18.
Despite having nuclear reactors, only 7 out of the 33 countries also have nuclear weapons. In fact, two countries, North Korea and Israel, have nuclear warheads but no nuclear reactors.
#energy #electricity #nuclear
Source: The World Nuclear Industry
#Economics #GasPrices #Cars #Energy
The Kia Forte subcompact car, which is among the most affordable new cars on the market, has the highest price increase in the most states with 17.
The vehicle with the highest price increase across all states is the Kia Forte in New Jersey with an 61.0 percent increase.