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In the most recent update of our table of federal and state motor fuel taxes, state gasoline taxes ranged from as low as 8.95 cents per gallon (/gal) in Alaska to as high as 65.1 cents/gal in California on July 1, 2022. Compared with January 2022, 13 states changed some part of their gasoline taxes.
China has steadily increased its electricity generation over the past 20 years, reaching 7,600 terawatthours (TWh) in 2020 from 1,280 TWh in 2000, according to our recently updated Country Analysis Brief: China. Despite COVID-19 mitigation efforts in 2020, China still expanded its electricity generation by 5% in 2020.
An extreme heat wave affected California the week of September 4, 2022, driving record-breaking demand for electricity to meet increased air-conditioning use. On September 6, a new record was set in the California Independent System Operator's (CAISO) territory.
Since late 2021, the difference has been widening between the natural gas price at the Waha Hub in West Texas and the U.S. benchmark Henry Hub in Louisiana. The price of natural gas traded at the Waha Hub, which is near production from the Permian Basin, averaged $1.43 per million British thermal units (MMBtu) less than the Henry Hub price during the first half of September. In comparison, in the first half of September 2021, natural gas at the Waha Hub traded at an average of 24 cents/MMBtu less than the Henry Hub price.
In 2021, three nuclear power plants supplied about 10% of California's electricity. Diablo Canyon, located in San Luis Obispo County, is California's last operating nuclear power plant, and it supplied over 8% of California's electricity in 2021. The remaining nuclear electricity supply was imported from the Palo Verde Generating Station in Arizona and the Columbia Generating Station in Washington.
European Union member states are racing to clinch a political agreement within weeks that would impose a price cap on Russian oil.
California is committing to a plan that will make it the first US state to phase out gas-fueled furnaces and water heaters in homes.
Check out some of Rigzone's top stories during the last week.
Gabe Klein has been named as the lead of the Joint Office of Energy and Transportation created by the Bipartisan Infrastructure Law.
Oil posted its longest stretch of weekly losses this year as central banks around the world stepped up the fight against inflation at the cost of economic growth.