What is the Energy Information Administration (EIA)?
The Energy Information Administration (EIA) is an agency formed in 1977. The EIA is liable for objectively collecting energy data, conducting analysis and making forecasts. The Energy Information Administration’s reports contain information regarding energy-related topics like future energy inventories, demand, and costs. Its data, research, and reports are available online to both the public and the private sector.
The Energy Information Administration publishes energy-related information and analysis daily. Every weekday, the Energy Information Administration publishes “Today” in Energy, a timely article highlighting current energy issues. For instance, this feature may specialize in gas pipeline capacity during a specific region of the country or underline how changing energy efficiency and fuel economy standards affect energy consumption. A graph or chart typically accompanies these pieces.
Publication and knowledge are available through EIA’s website, which also provides information aimed toward children, teachers, and the general audience. the location updates weekly.
History of the Energy Information Administration
The Energy Information Administration (EIA) origins dwell in the Federal Energy Administration Act of 1974, which created the Federal Energy Administration (FEA). This agency was the primary within the U.S. to focus totally on energy. One mandate of the Act was that the FEA gather and analyze information associated with energy. The Act also empowered the FEA to collect data from energy-producing and consuming firms.
In 1977, the Department of Energy Organization Act created the Department of Energy, the Energy Information Administration. This 1977 Act established the EIA because of the U.S. government’s authority on energy data.
Publications & Reports from EIA:
The Energy Information Administration (EIA) is that the statistical agency of the Department of Energy. It provides policy-independent data, forecasts, and analyses to market sound politics, efficient markets, and public understanding regarding energy and its interaction with the economy and, therefore, the environment.
Here are just a couple of the Publications & Reports from EIA:
- This Week in Petroleum
A weekly report which provides data and analysis of the newest weekly U.S. petroleum supply and price. Other fuels of interest to the buyer also are noted, especially gas and propane. - Gasoline and Diesel Prices
Weekly price data by U.S. regions of normal gasoline and on-highway diesel oil, with a week ago and a year ago comparisons.
- Short-Term Energy Outlook
This 18-month forecast includes information on oil and gasoline prices and provide.
- Historical Energy Data
U.S. energy history from 1950-Present Year recorded in data tables and figures. All primary sorts of energy (fossil fuels, nuclear, electricity, and renewable energy) and total energy by critical activity (e.g., production, consumption, trade, stocks, and prices) are covered.
- Natural Gas Weekly Update
Weekly report on gas spot and futures prices, supply, consumption, and underground storage.
Other Reports Produced by the EIA
● One of the foremost renowned reports published by the EIA is named in the week in Petroleum. Released every Wednesday, the report contains commentary regarding changes in inventory, demand and other data for Petroleum. The report also covers other petroleum products like gasoline, distillates, and propane. Usually, when this report shows unexpected changes in petroleum and gasoline inventories, it causes a ripple effect across the market. These changes also can affect what consumers pay at the gas pumps.
● The Monthly Energy Review provides data on U.S. energy consumption going back to 1949. Also, the EIA regular publishes short-term and long-term energy projections. It also publishes energy data regarding other countries, with statistics on energy production, consumption, imports, and exports.
● The EIA Petroleum Status Report is published every Wednesday. It describes the extent of crude-oil reserves that the U.S. holds, also because of the amount of crude and related products it produces, both domestically and abroad.
