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Exelon, the owner-operator of Illinois's six nuclear power plants, recently announced that the Byron and Dresden nuclear plants will continue operating rather than retire this fall as previously planned. The announcement came after the Illinois state legislature and governor approved a clean energy bill supporting carbon-free energy resources.
In our latest Winter Fuels Outlook, we expect higher heating oil prices and a slightly colder winter compared with last year will contribute to households across the United States spending more on heating this winter (October–March) compared with the past two winters.
In our International Energy Outlook 2021, we estimate the global light-duty vehicle (LDV) fleet contained 1.31 billion vehicles in 2020, and we project this fleet will grow to 2.21 billion vehicles by 2050. We project electric vehicles (EVs)—any LDV with a charging plug—will grow from 0.7% of the global LDV fleet in 2020 to 31% in 2050, reaching 672 million vehicles. Significant growth in EV sales and shares of sales through the projection period results in the global conventional gasoline and diesel LDV fleet peaking in 2038.
In our latest Winter Fuels Outlook, we forecast that U.S. households that primarily use natural gas for space heating will spend an average of $746 on heating this winter (October–March), which is $172, or 30%, more than last year.
In our October Winter Fuels Outlook, we expect U.S. households that primarily heat with propane will spend more this heating season (October through March) than during the past several winters because of higher propane prices and slightly colder temperatures compared with last winter.
Petrobras has started the bidding phase for the sale of the Uruguá and Tambaú fields located in the Santos Basin offshore Brazil.
ExxonMobil’s Liza Unity FPSO vessel has arrived at the Stabroek Block offshore Guyana.
Seadrill has been given the OK for its reorganization plan from the U.S. Bankruptcy Court and is now on track to exit bankruptcy.
Winners to be awarded a share of the fund are scheduled to be announced in early December.
Oil futures dropped Wednesday as Iran announced agreement to resume negotiations with EU and U.S. oil inventories rose.