U.S. power plant developers and operators plan to add 86 gigawatts (GW) of new utility-scale electric generating capacity to the U.S. power grid in 2026 in our latest Preliminary Monthly Electric Generator Inventory report, a record if realized. Solar power makes up 51% of the planned 2026 capacity
The first large-scale commercial enhanced geothermal system (EGS) power generator in the United States is under construction with the company reporting in our generator survey that it plans to bring the project online in June 2026. Below, we examine what enhanced geothermal systems are and how they
U.S. exports of refined petroleum products carried on clean product tankers have increased steadily over the last year, with exports totaling 6.3 million barrels per day (b/d) in January 2026, about 10% more than in January 2025 and near record highs, according to data from Vortexa. Growth in export
We forecast that U.S. natural gas marketed production will increase by 2% to average 120.8 billion cubic feet per day (Bcf/d) in 2026 and then further increase to a record-high 122.3 Bcf/d in 2027 in our latest Short-Term Energy Outlook (STEO). Around 69% of forecast production over the next two yea
State taxes and fees on motor gasoline as of January 1, 2026, ranged from a high of 70.9 cents per gallon (c/gal) in California to a low of 9.0 c/gal in Alaska. State gasoline taxes averaged 33.5 c/gal across states, a slight increase from their average last year.
We forecast that production of petroleum and other liquids will continue to exceed global demand, which results in Brent crude oil prices falling from an average of $69 per barrel (b) in 2025 to $58/b in 2026 and $53/b in 2027. Crude oil prices tend to decrease as global petroleum stocks increase. P
About 22% of light-duty vehicles sold in 2025 in the United States were hybrid, battery electric, or plug-in hybrid vehicles, up from 20% in 2024. Among those categories, hybrid electric vehicles have continued to gain market share while battery electric vehicles and plug-in hybrid vehicles decrease
Working natural gas stocks fell 360 billion cubic feet (Bcf) in the Lower 48 states for the week ending January 30, 2026, amid Winter Storm Fern-the largest weekly net withdrawal reported in the history of the Weekly Natural Gas Storage Report. The withdrawal exceeded the five-year average for the s
Average wholesale day-ahead electricity prices at most major trading hubs in the Lower 48 states were higher in 2025 than in 2024, driven largely by higher natural gas prices to electric generators. The largest increase in price was $29 per megawatthour (MWh) in New England's Independent System Oper
Over the past few years, Independent System Operator-New England (ISO-NE) has relied less on Canada for electricity. On January 16, 2026, the New England Clean Energy Connect (NECEC), a 1,200 megawatt (MW) transmission line project, began commercial operation. The new high-voltage direct current NEC
Although petroleum accounts for less than 1% of total U.S. utility-scale electric power generation, regions such as New England rely on oil-fired units during winter periods when cold weather creates high demand. When Winter Storm Fern affected New England this week, petroleum was the predominant en
In the week ending January 25, 2026, as Winter Storm Fern affected significant portions of the country, coal-fired electricity generation in the Lower 48 states increased 31% from the previous week. The increase contrasts with coal use in the earlier part of January, which had milder weather and con
Shipping rates for crude oil tankers were at multi-year highs at the end of 2025 before falling in early 2026. Rates climbed in the fall of 2025 because of increased demand for crude oil shipments, particularly from buyers in East Asia, limiting the number of vessels available for bookings. In this
Between January 1, 2026, and January 21, 2026, nuclear power plant outages averaged 2.0 gigawatts (GW), 20% less than in the same period in 2025 and below the previous five-year range (2021–25) for 7 out of 21 days.
Natural gas daily spot prices at the benchmark Henry Hub rose sharply over the past week, reaching nearly $8.15 per million British thermal units on January 22 as colder weather increased demand for space heating across the country. Higher wholesale natural gas prices generally contribute to higher
In our January 2026 Short-Term Energy Outlook, we forecast U.S. crude oil production next year will remain near the record 13.6 million barrels per day (b/d) produced in 2025 before decreasing 2% to 13.3 million b/d in 2027. If realized, a fall in annual U.S. crude oil production will mark the first
When military aircraft are retired, they live out their days in the sunbelt at the U.S. Air Force's facility on Davis-Monthan Air Force Base in Arizona, otherwise known as the Boneyard.
In our latest Short-Term Energy Outlook, we forecast retail U.S. gasoline prices will be lower the next two years than in 2025, falling 6% in 2026 and then increasing 1% in 2027. Our gasoline price forecast generally follows a similar path as global crude oil prices, but decreasing U.S. refinery cap
Electricity generation by the U.S. electric power sector totaled about 4,260 billion kilowatthours (BkWh) in 2025. In our latest Short-Term Energy Outlook (STEO), we expect U.S. electricity generation will grow by 1.1% in 2026 and by 2.6% in 2027, when it reaches an annual total of 4,423 BkWh. The t
We expect the U.S. benchmark natural gas spot price at the Henry Hub to decrease about 2% to just under $3.50 per million British thermal units (MMBtu) in 2026 before rising sharply in 2027 to just under $4.60/MMBtu, according to our January Short-Term Energy Outlook (STEO). We expect the annual ave
In 2025, the wholesale U.S. natural gas spot price at the national benchmark Henry Hub in Louisiana averaged $3.52 per million British thermal units (MMBtu), based on data from LSEG Data. The 2025 average Henry Hub natural gas spot price increased 56% from the 2024 annual average, which-when adjuste
The U.S. retail price for regular grade gasoline averaged $3.10 per gallon (gal) in 2025, $0.21/gal less than in 2024. This year marks the third consecutive year of declining nominal retail gasoline prices, according to data from our Gasoline and Diesel Fuel Update.
Crude oil prices generally declined in 2025 with supplies in the global crude oil market exceeding demand. Crude oil inventory builds in China muted some of the price decline. Events such as Israel's June 13 strikes on Iran and attacks between Russia and Ukraine targeting oil infrastructure periodic
