Powerburn is a blog that specializes in natural gas, specifically natural gas injections or withdrawls
Recently, Powerburn has been lost in space. For the week ending April 18 powerburn is projecting an injection of 64. Not ridiculous but the injection will probably be between 30-40
For the week end April 25 Powerburn is projecting an injection of 101. Absolutely absurd. During the spring/summer/fall of 2013 there were only 2 weeks with injections over 100. The injection for that week might be 60 but 101 is beyond ridiculous
The next week gets worse. For the week ending May 2 Powerburn is projecting an injection of 118. Last year there were no injections that even appraoched 118. It is technically possible to have an injection of 118 but all the stars, planets, moons and high tides have to be aligned.
Anyway, where does this Powerburn nonsense come from?
The Energy Information Administration recently compiled data showing who exactly is using nat gas, and how much. The world's largest economy consumed more than 26 trillion cubic feet of the energy source last year, a modest 2 percent rise from the year prior. That represents more than 71 billion cubic feet worth of gas that gets used in the average day.
However, the data get more interesting when the EIA peels back the layers of where that fuel is going. Utilities comprise the lion's share of domestic use. Power companies consumed 8.1 trillion cf last year as nat gas continues to eat into coal's market share in power generation—helping to explain why natural gas prices spiked over the winter.
Industrials such as chemical- and plastic- makers swallowed about 7.5 trillion cubic feet in 2013, while residential use rose to 4.9 trillion during the year.
This statement of EIA was incorrect: "Power companies consumed 8.1 trillion cf last year as nat gas continues to eat into coal's market share in power generation—helping to explain why natural gas prices spiked over the winter."
What is nat gas continued to eat into coal market share last year? By EIA's own data, nat gas electricity generation in 2012 was 1,225,894 GWH in 2012, and dropped to 1,113,665 GWH in 2013. So nag gas share dropped, NOT ncreased, from 2012 to 2013. Mean while coal's shares recovered from 2012 level to 2013 level, going from 1,514,043 to 1,585,998 GWH.