Daily Energy Report

US gas consumption, Tanker diversions, US SPR refilling, Hedge fund wants “more oil,” Exxon lawsuit avoiding SEC, Biden LNG pause, Service Cos profitable, EV’s cause tax losses, Canada LNG, and more.

Chart of the Day: US Natural Gas Consumption by Sector

Summary

Figure (1) above shows US consumption of natural gas by sector in the first 10 months of 2023.  While the power sector depends on natural gas, one third of US natural gas consumption is used in the industrial sector. 

EOA’s Main Takeaway