Energy Information Administration (EIA)

What is the Energy Information Administration (EIA)

The Energy Information Administration (EIA) is a government agency shaped in 1977. The EIA is responsible for dispassionately collecting energy data, leading analysis and making figures. The EIA's reports contain data viewing energy-related points, for example, future energy inventories, demand, and prices. Its data, analysis, and reports are accessible online to both the public and the private sector.

BREAKING DOWN Energy Information Administration (EIA)

The Energy Information Administration distributes energy-related data and analysis consistently. Each work day, the EIA distributes Today in Energy, an ideal article featuring current energy issues. For instance, this feature might zero in on natural gas pipeline capacity in a specific region of the country or underline what changing energy proficiency and fuel economy standards mean for energy consumption. A graph or chart commonly go with these pieces.

Publication and data are accessible through EIA's website which likewise gives data focused on children, teachers and the overall crowd. The site refreshes week by week.

Different Reports Produced by the EIA

• One of the most prestigious reports distributed by the EIA is called This Week In Petroleum. Delivered each Wednesday, the report contains critique in regards to changes in inventory, demand and different data for crude oil. The report additionally covers other petroleum products like gasoline, distillates, and propane. Ordinarily, when this report shows surprising changes in crude oil and gasoline inventories, it causes a ripple effect across the market. These changes can likewise influence what consumers pay at the gas siphons.
• The Monthly Energy Review gives data on U.S. energy consumption returning to 1949. Additionally, the EIA ordinary distributes short-term and long-term energy projections. It additionally distributes energy data in regards to different countries, with statistics on energy production, consumption, imports, and exports.
• The EIA Petroleum Status Report is distributed each Wednesday. It subtleties the level of crude-oil reserves that the U.S. holds, as well as the amount of crude and related products it produces, both locally and abroad.

History of the Energy Information Administration

The beginnings of the Energy Information Administration (EIA) lie in the Federal Energy Administration Act of 1974, which made the Federal Energy Administration (FEA). This agency was the first in the U.S. to zero in essentially on energy. One order of the Act was that the FEA gather and investigate data connected with energy. The Act likewise enabled the FEA to collect data from energy creating and consuming firms.

In 1977, the Department of Energy Organization Act made the Department of Energy, along with it the Energy Information Administration. This 1977 Act laid out the EIA as the U.S. government's authority on energy data.