What is the Energy Information Administration (EIA)
The Energy Information Administration (EIA) is a government agency formed in 1977. The EIA is responsible for objectively collecting energy data, conducting analysis and making forecasts. The EIA's reports contain information regarding energy-related topics such as future energy inventories, demand, and prices. Its data, analysis, and reports are available online to both the public and the private sector.
BREAKING DOWN Energy Information Administration (EIA)
The Energy Information Administration publishes energy-related information and analysis on a regular basis. Every weekday, the EIA publishes Today in Energy, a timely article highlighting current energy issues. For example, this feature may focus on natural gas pipeline capacity in a specific region of the country or underline how changing energy efficiency and fuel economy standards affect energy consumption. A graph or chart typically accompany these pieces.
Publication and information are available through EIA's website which also provides information aimed at children, teachers and the general audience. The site updates weekly.
Other Reports Produced by the EIA
- One of the most renowned reports published by the EIA is called This Week In Petroleum. Released every Wednesday, the report contains commentary regarding changes in inventory, demand and other data for crude oil. The report also covers other petroleum products such as gasoline, distillates, and propane. Usually, when this report shows unexpected changes in crude oil and gasoline inventories, it causes a ripple effect across the market. These changes can also affect what consumers pay at the gas pumps.
- The Monthly Energy Review provides data on U.S. energy consumption going back to 1949. Also, the EIA regular publishes short-term and long-term energy projections. It also publishes energy data regarding other countries, with statistics on energy production, consumption, imports, and exports.
- The EIA Petroleum Status Report is published every Wednesday. It details the level of crude-oil reserves that the U.S. holds, as well as the amount of crude and related products it produces, both domestically and abroad.
History of the Energy Information Administration
The origins of the Energy Information Administration (EIA) lie in the Federal Energy Administration Act of 1974, which created the Federal Energy Administration (FEA). This agency was the first in the U.S. to focus primarily on energy. One mandates of the Act was that the FEA gather and analyze information related to energy. The Act also empowered the FEA to collect data from energy producing and consuming firms.
In 1977, the Department of Energy Organization Act created the Department of Energy, along with it the Energy Information Administration. This 1977 Act established the EIA as the U.S. government's authority on energy data.