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In-brief analysis

June 11, 2025

Developers plan to add 18.7 gigawatts (GW) of combined-cycle capacity to the grid by 2028, with 4.3 GW already under construction, according to our latest Preliminary Monthly Electric Generator Inventory. Although electricity generators fueled by natural gas have provided more electricity in the United States than any other source since 2016, hardly any new natural gas capacity came online last year.

Combined-cycle units contribute to grid operation, reliability
Relatively efficient combined-cycle gas turbines (CCGTs) account for most of the natural gas-fired generating capacity in the United States. CCGT units are flexible and can quickly ramp up or down to respond to changes in power supply, supporting the reliability of the transmission system especially as more renewable capacity is integrated in the system.

The design lifetime of CCGT units is typically 25 years

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In-brief analysis

June 9, 2025

In 2024, the United States produced a record amount of energy, according to data in our Monthly Energy Review. U.S. total energy production was more than 103 quadrillion British thermal units in 2024, a 1% increase from the previous record set in 2023. Several energy sources—natural gas, crude oil, natural gas plant liquids, biofuels, solar, and wind—each set domestic production records last year.

Natural gas accounted for about 38% of U.S. total energy production in 2024 and has been the largest source of U.S. domestic energy production every year since 2011, when it surpassed coal. U.S. dry natural gas production was nearly 38 trillion cubic feet, about the same as in 2023.

Domestic crude oil accounted for about 27% of U.S. total energy production in 2024, as the United States continues

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In-brief analysis

June 6, 2025

We forecast crude oil production in the Federal Offshore Gulf of America (GOA) will average 1.80 million barrels per day (b/d) in 2025 and 1.81 million b/d in 2026, compared with 1.77 million b/d in 2024, in our most recent Short-Term Energy Outlook (STEO). We expect GOA natural gas production to average 1.72 billion cubic feet per day (Bcf/d) in 2025 and 1.64 Bcf/d in 2026, compared with 1.79 Bcf/d in 2024. At these volumes, the GOA is forecast to contribute about 13% of U.S. crude oil production and 1% of U.S. marketed natural gas production in 2025 and 2026.

We expect operators to start crude oil and natural gas production at 13 fields in the GOA during 2025 and 2026, without which GOA production would decline. Eight fields will be developed

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In-brief analysis

June 4, 2025

U.S. production of renewable diesel and biodiesel fell sharply in the first quarter of 2025 (1Q25) because of uncertainty related to federal biofuel tax credits and negative profit margins. We forecast production of both fuels to increase as the year progresses but biodiesel production to remain less than in 2024.

Renewable diesel and biodiesel are biomass-based diesel fuels that can replace petroleum-based distillate and be used to comply with renewable volume obligations in the Renewable Fuel Standard (RFS) administered by the U.S. Environmental Protection Agency (EPA). Renewable diesel can be used in diesel engines in any concentration because it is chemically equivalent to petroleum-based distillate fuel, and biodiesel is typically blended with petroleum distillate at concentrations of 20% or less for vehicle consumption because of some chemical differences.

In January 2025,

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