Mason Hamilton
@t-mason-h.bsky.social
Vice President of Economics & Research at API https://www.api.org/
Coming up with 61.8% good ideas, 38.2% bad. Energy analyst, meme enthusiast, sock wearer. Ex-U.S. EIA, Dept. of Energy, International Energy Forum. Tweets and views my own. Have a nice day.
Coming up with 61.8% good ideas, 38.2% bad. Energy analyst, meme enthusiast, sock wearer. Ex-U.S. EIA, Dept. of Energy, International Energy Forum. Tweets and views my own. Have a nice day.
Western Canada Select crude oil typically sells at a discount to WTI due to quality differences and transportation bottlenecks. In the past 5 years the discount has been as wide as $30/bbl. The discount remains near $10/bbl despite record exports to non-U.S. markets due to crude quality differences.
July 10, 2025 at 6:06 PM
Western Canada Select crude oil typically sells at a discount to WTI due to quality differences and transportation bottlenecks. In the past 5 years the discount has been as wide as $30/bbl. The discount remains near $10/bbl despite record exports to non-U.S. markets due to crude quality differences.
The Trans Mountain pipeline expansion added 590 kb/d of capacity. The expanded pipeline began ramping up in May 2024 and has eased takeaway constraints and opened new export markets. Canada exported nearly 400 kb/d to non-U.S. markets in January-April 2025, up from ~80 kb/d a year ago.
July 10, 2025 at 6:06 PM
The Trans Mountain pipeline expansion added 590 kb/d of capacity. The expanded pipeline began ramping up in May 2024 and has eased takeaway constraints and opened new export markets. Canada exported nearly 400 kb/d to non-U.S. markets in January-April 2025, up from ~80 kb/d a year ago.
The U.S. is the only major waterborne exporter of ethane in the world. Ethane is a petrochemical feedstock used primarily for plastics manufacturing. Over the past year, nearly half of U.S. ethane exports went to China and 19% to the EU and UK.
July 10, 2025 at 6:03 PM
The U.S. is the only major waterborne exporter of ethane in the world. Ethane is a petrochemical feedstock used primarily for plastics manufacturing. Over the past year, nearly half of U.S. ethane exports went to China and 19% to the EU and UK.
The U.S. produced 2.8 mb/d of ethane in 2024, up 1.0 mb/d or 55% since 2019. This is faster growth than U.S. crude oil production, which increased by 0.9 mb/d over the same period. Around 80% of U.S. produced ethane is used domestically and ~20% is exported.
July 10, 2025 at 6:03 PM
The U.S. produced 2.8 mb/d of ethane in 2024, up 1.0 mb/d or 55% since 2019. This is faster growth than U.S. crude oil production, which increased by 0.9 mb/d over the same period. Around 80% of U.S. produced ethane is used domestically and ~20% is exported.
At the end of 2024, there were 742 active LNG tankers according to the IGU 2025 LNG report, with 75% built in South Korea, 15% in Japan, and 7% in China. An additional 337 tankers have been ordered for delivery by 2031 with a record 101 vessels expected to be delivered in 2026.
July 10, 2025 at 6:01 PM
At the end of 2024, there were 742 active LNG tankers according to the IGU 2025 LNG report, with 75% built in South Korea, 15% in Japan, and 7% in China. An additional 337 tankers have been ordered for delivery by 2031 with a record 101 vessels expected to be delivered in 2026.
Rising domestic production has helped the U.S. become less reliant on imported crude oil, particularly from the Middle East. In 2024, only 8% of U.S. crude oil imports came from Persian Gulf countries, down from 25% in 2014.
www.api.org/products-and...
www.api.org/products-and...
July 10, 2025 at 5:59 PM
Rising domestic production has helped the U.S. become less reliant on imported crude oil, particularly from the Middle East. In 2024, only 8% of U.S. crude oil imports came from Persian Gulf countries, down from 25% in 2014.
www.api.org/products-and...
www.api.org/products-and...
In 2024, U.S. imports of petroleum products were the lowest since 1995, reflecting robust domestic production and changes to consumption. Lower imports and increased exports helped make the U.S. and even larger net-exporter of crude oil and petroleum products in 2024.
May 15, 2025 at 3:23 PM
In 2024, U.S. imports of petroleum products were the lowest since 1995, reflecting robust domestic production and changes to consumption. Lower imports and increased exports helped make the U.S. and even larger net-exporter of crude oil and petroleum products in 2024.
U.S. exports of LNG to Europe set a new record high in January 2025!
March 31, 2025 at 5:11 PM
U.S. exports of LNG to Europe set a new record high in January 2025!
2024 year in review: U.S. oil and natural gas.
March 14, 2025 at 4:27 PM
2024 year in review: U.S. oil and natural gas.
CERAWEEK Day 4: I leave today so I’m wearing my Pi day socks early.
Bye Houston!
Bye Houston!
March 13, 2025 at 2:08 PM
CERAWEEK Day 4: I leave today so I’m wearing my Pi day socks early.
Bye Houston!
Bye Houston!
Also the most frequently said word at CERAWEEK = “uncertainty”
March 12, 2025 at 5:06 PM
Also the most frequently said word at CERAWEEK = “uncertainty”
CERAWEEK day 3!
On brand.
On brand.
March 12, 2025 at 1:40 PM
CERAWEEK day 3!
On brand.
On brand.
“Well” played Houston beer scene, well played.
March 11, 2025 at 8:43 PM
“Well” played Houston beer scene, well played.
Arrived in Houston for CERAWeek (yes, I packed my special socks).
March 9, 2025 at 9:21 PM
Arrived in Houston for CERAWeek (yes, I packed my special socks).
U.S. refineries: When less is more. The U.S. has 122 fewer refineries than in 1982 (pour one out for the homies), but has 2.2 million b/d more capacity. U.S. refineries have expanded and increased complexity to adjust to market conditions.
March 7, 2025 at 9:45 PM
U.S. refineries: When less is more. The U.S. has 122 fewer refineries than in 1982 (pour one out for the homies), but has 2.2 million b/d more capacity. U.S. refineries have expanded and increased complexity to adjust to market conditions.
Looking forward to seeing friends, colleagues, and other people who draw charts with their hands while talking at @CERAWeek. I'll be there from March 10-13, reach out if you want to chat about markets and what amazing things my team
@ API has in store.
@ API has in store.
February 24, 2025 at 7:24 PM
Looking forward to seeing friends, colleagues, and other people who draw charts with their hands while talking at @CERAWeek. I'll be there from March 10-13, reach out if you want to chat about markets and what amazing things my team
@ API has in store.
@ API has in store.
Since U.S. crude oil exports were re-authorized in late 2015, destinations for U.S. crude oil exports has evolved. Canada's share of total exports has decreased, while Europe's increased. Leading to WTI Midland being incorporated into the Brent pricing benchmark.
February 12, 2025 at 2:44 PM
Since U.S. crude oil exports were re-authorized in late 2015, destinations for U.S. crude oil exports has evolved. Canada's share of total exports has decreased, while Europe's increased. Leading to WTI Midland being incorporated into the Brent pricing benchmark.
Fun Fact: Last Super Bowl, American TVs consumed ~37 million kWh of electricity, equal to 62 days of Liberia's consumption or 25 days of Greenland's.
Better fact: When Philly loses, everyone wins.
Better fact: When Philly loses, everyone wins.
February 7, 2025 at 10:01 PM
Fun Fact: Last Super Bowl, American TVs consumed ~37 million kWh of electricity, equal to 62 days of Liberia's consumption or 25 days of Greenland's.
Better fact: When Philly loses, everyone wins.
Better fact: When Philly loses, everyone wins.
"A pipe, a pipe, my kingdom for a pipe!" Alaska currently reinjects as much natural gas as New Mexico produces for a lack of pipeline capacity. A proposed 800-mile pipeline could change that if built. Possibly taking Alaska from 10th largest natural gas producing state to the 4th.
February 7, 2025 at 8:34 PM
"A pipe, a pipe, my kingdom for a pipe!" Alaska currently reinjects as much natural gas as New Mexico produces for a lack of pipeline capacity. A proposed 800-mile pipeline could change that if built. Possibly taking Alaska from 10th largest natural gas producing state to the 4th.
Where do we use oil and natural gas?
February 7, 2025 at 6:54 PM
Where do we use oil and natural gas?
Average U.S. residential natural gas prices were higher BEFORE (2005-2014) the buildout of LNG exports than they have been after (2015-2024).
February 7, 2025 at 6:51 PM
Average U.S. residential natural gas prices were higher BEFORE (2005-2014) the buildout of LNG exports than they have been after (2015-2024).
Evolution of U.S. LNG export destinations from 2016 to 2023. LNG exports were Asia focused, but in 2022 that flipped to Europe. LNG exports in 2023 were more evenly mixed between EU and Asia.
February 7, 2025 at 6:45 PM
Evolution of U.S. LNG export destinations from 2016 to 2023. LNG exports were Asia focused, but in 2022 that flipped to Europe. LNG exports in 2023 were more evenly mixed between EU and Asia.