Energy Roundup: The Impact of High Natural Gas Prices

• In its new edition of “Manufacturing Insights,” OMA Connections Partner RSM examines the impact of high natural gas prices on manufacturers. This as the Energy Information Administration (EIA) forecasts record U.S. natural gas consumption this year.
• OMA Connections Partner CliftonLarsonAllen has published this summary of the enhanced energy efficiency incentives in the Inflation Reduction Act.
• OMA Connections Partner Schneider Downs has published this summary of the new federal electric vehicle tax credit.
• The EIA reports that in the first half of this year, 24% of U.S. utility-scale electricity generation came from renewable sources — a 21% jump compared to the same period last year.
• In the U.S. Senate, nearly the entire Republican caucus — including Ohio’s Rob Portman — has co-sponsored a GOP version of permitting reform legislation.
• Gasoline prices across the U.S. have been on a steady decline since June — except in California, where the average is approaching $5.50 a gallon.

Meanwhile, the U.S. Strategic Petroleum Reserve has dropped to a level not seen in 38 years, Reuters reports. According to the Institute of Energy Research, the reserve is expected to shrink to a 40-year low by the end of October, with an anticipated 358 million barrels compared to 621 million barrels a year ago. 9/15/2022