Energy Information Administration



Here are the latest diesel and regular gasoline price charts from the EIA:



EIA estimates show a declining annual US crude oil production, figures are in thousand barrels:


2006 2007 2008
1,862,259 1,848,450 1,811,817

The number of rigs drilling for oil and natural gas in the U.S. rose this week as the brisk decline in U.S. drilling activity showed some signs of stabilizing.


American Electric Power Co. said Friday that industrial demand dropped by 20% for the quarter, the sharpest decline the company has seen in decades. They stated that they are exploring new rate structures to compensate for the drop in demand. The regulated utilities which AEP own have a guaranteed rate of return on invested capital as granted by the PSCs. So the company will be seeking a higher rate for delivering less power; here as demand drops with constant supply, price increases, reversing the supply-demand-price function we learned in Econ 101.

Eight of AEP’s eleven regulated utilities are in the hard-hit American midwest.


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