Some of the projects will also yield environmental benefits by removing lead components, asbestos insulation, and water-cooled transformers, which can leak oil. A noteworthy environmental benefit at the City of Tacoma project is the addition of an upstream fish collection pool, enabling the reintroduction of native fish above the dam for the first time since the 1920s. See the DOE press release and the press release from Tacoma Power.
EIA: Oil & Fuel Prices on Their Way Up as Economy Recovers
Current optimism for a continued economic turnaround is driving oil prices higher despite high inventories, according to DOE's Energy Information Administration (EIA). EIA's monthly "Short-Term Energy Outlook" forecasts the average price of oil for the winter heating season as $77 per barrel, up from $70 forecast last month. Assuming continued recovery in the U.S. and world, EIA expects oil to reach a monthly average of $81 per barrel by December 2010. If the recovery stalls, oil prices will likely weaken. Sustained growth in China and other Asian countries is already beginning to cause a rebound in world oil consumption.
In general, gasoline and diesel fuel prices follow oil prices. EIA expects regular grade gasoline to average $2.66 per gallon in the fourth quarter of 2009, up from $2.55 per gallon in September and October. Gasoline is expected to average $2.81 per gallon in 2010. Meanwhile, diesel fuel averaged $2.63 per gallon in August and September and is expected to escalate in price, averaging $2.79 per gallon during the fourth quarter of 2009 and rising to $2.94 per gallon for 2010. See the EIA's "Short-Term Energy Outlook."
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EREE Network News is a weekly publication of the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE).
