Energy Information (11 - 20 of 50 items)
Energy Markets: Factors That Influence Gasoline Prices
GAO-07-902T: Published: May 22, 2007. Publicly Released: May 22, 2007.
Few issues generate more attention and anxiety among American consumers than the price of gasoline. The most current upsurge in prices is no exception. According to data from the Energy Information Administration (EIA), the average retail price of regular unleaded gasoline in the United States has increased almost every week this year since January 29th and reached an all-time high of $3.10 the we...
Crude Oil: California Crude Oil Price Fluctuations Are Consistent with Broader Market Trends
GAO-07-315: Published: Jan 19, 2007. Publicly Released: Feb 20, 2007.
California is the nation's fourth largest producer of crude oil and has the third largest oil refining industry (behind Texas and Louisiana). Because crude oil is a globally traded commodity, natural and geopolitical events can affect its price. These fluctuations affect state revenues because a share of the royalty payments from companies that lease state or federal lands to produce crude oil are...
International Energy: International Forums Contribute to Energy Cooperation within Constraints
GAO-07-170: Published: Dec 19, 2006. Publicly Released: Dec 19, 2006.
Rising oil prices, resulting from growth in energy consumption by rapidly developing Asian nations and by most industrialized nations, have increased concern about competition over oil and natural gas resources. In particular, Congress expressed interest in how the United States participates in energy cooperation through international forums. GAO was asked to review: (1) what are the key internati...
Energy Security: Issues Related to Potential Reductions in Venezuelan Oil Production
GAO-06-668: Published: Jun 27, 2006. Publicly Released: Jun 27, 2006.
Venezuela is the world's eighth-largest oil exporter and among the top 10 countries in total proven oil reserves. Venezuela also supplies about 11 percent of current U.S. imports of crude oil and petroleum products and wholly owns five refineries in the U.S. Consequently, Venezuela is a key player in the future energy security of the United States and the world. The current global oil market is ti...
Energy Markets: Factors Contributing to Higher Gasoline Prices
GAO-06-412T: Published: Feb 1, 2006. Publicly Released: Feb 1, 2006.
Soaring retail gasoline prices, increased oil company profits, and mergers of large oil companies have garnered extensive media attention and generated considerable public concern. Gasoline prices impact the economy because of our heavy reliance on motor vehicles. According to the Department of Energy's Energy Information Administration (EIA), each additional ten cents per gallon of gasoline adds...
Motor Fuels: Understanding the Factors That Influence the Retail Price of Gasoline
GAO-05-525SP: Published: May 2, 2005. Publicly Released: May 2, 2005.
Few things generate more attention and anxiety among American consumers than the price of gasoline. Periods of price increases are accompanied by high levels of media attention and consumer questioning about the causes and impacts of the price changes. The most recent upsurge in prices is no exception. Between January 3 and April 11, 2005, gasoline prices increased nearly every week, and during th...
Meeting Energy Demand in the 21st Century: Many Challenges and Key Questions
GAO-05-414T: Published: Mar 16, 2005. Publicly Released: Mar 16, 2005.
Plentiful, relatively inexpensive energy has been the backbone of much of modern America's economic prosperity and the activities that essentially define our way of life. The energy systems that have made this possible, however, are showing increasing signs of strain and instability, and the consequences of our energy choices on the natural environment are becoming more apparent. The reliable ener...
Natural Gas Flaring and Venting: Opportunities to Improve Data and Reduce Emissions
GAO-04-809: Published: Jul 14, 2004. Publicly Released: Aug 13, 2004.
Since 1995, the average price of natural gas in the United States has almost tripled as demand has grown faster than supply. Despite this increase, natural gas is regularly lost as it is burned (flared) and released into the atmosphere (vented) during the production of oil and gas. GAO was asked to (1) describe flaring and venting data and what the federal government could do to improve them; (2)...
Climate Change: Analysis of Two Studies of Estimated Costs of Implementing the Kyoto Protocol
GAO-04-144R: Published: Jan 30, 2004. Publicly Released: Mar 1, 2004.
In 1992 the United States ratified the United Nations Framework Convention on Climate Change, which was intended to stabilize the buildup of greenhouse gases in the earth's atmosphere but did not impose binding limits on emissions. In July 1997, when preliminary negotiations on a new climate agreement were under way, the Senate passed a resolution expressing the sense of the Senate that the Clinto...
Natural Gas: Analysis of Changes in Market Price
GAO-03-46: Published: Dec 18, 2002. Publicly Released: Dec 18, 2002.
During the winter of 2000-2001, the wholesale price of natural gas peaked at a level four times greater than its usual level. Responding to the congressional interest and concern caused by these high prices, GAO undertook a study to address the (1) factors that influence natural gas price volatility and the high prices of 2000-2001; (2) federal government's role in ensuring that natural gas prices...