• 3 minutes CoV-19: China, WHO, myth vs fact
  • 6 minutes Trump reinvented tariffs and it worked
  • 9 minutes IEA Sees First Global Oil Demand Drop in a Decade on Coronavirus
  • 12 minutes Question: Why are oil futures so low through 2020?
  • 2 days "For the Public's Interest"
  • 59 mins Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 1 hour Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 16 hours Natural Gas from Cow Poop Used to Save the Environment and Help Farmers
  • 1 day Coronovairus, Phase One Agreement, Lower for Longer
  • 20 mins The New Class War Exposes the Oligarchs and Enablers
  • 1 hour Foxconn cancelled the reopening of their mfg plants scheduled for tomorrow. Rescheduled to March 3rd. . . . if they're lucky.
  • 1 day Weekly U.S. Imports of Crude Oil. No, the U.S. is NOT oil & gas self-sufficient.
  • 11 hours Has Trump put the USA at the service of Israel?
  • 15 hours Is cheaper plastics feedstock on the horizon?
  • 2 days Cheap natural gas is making it very hard to go green
  • 9 hours Solar Cells at 25 Cents Apiece (5 cents per watt)

Oil Industry To Regain Strength In 2017

Bakken

Friday January 13, 2016

In the latest edition of the Numbers Report, we’ll take a look at some of the most interesting figures put out this week in the energy sector. Each week we’ll dig into some data and provide a bit of explanation on what drives the numbers.

Let’s take a look.

1. Solar to become cheapest source of power

(Click to enlarge)

- Solar is already cheaper than coal in some parts of the U.S. and some parts of the world. But within ten years, it will be the cheapest source of electricity in most of the world.
- The cost of solar has plunged by 62 percent since 2009. Savings have been achieved up and down the supply chain, with the largest reductions coming from the modules themselves. Although cost reductions are expected to slow, they will continue to decline every year for the foreseeable future.
- Bloomberg New Energy Finance predicts that solar will be cheaper than coal by 2025 on average across the globe.
- Solar systems cost on average $1.14 per watt for a 1 megawatt project. Those costs will decline to just 73 cents/watt in 2025.

2. American drivers want gas guzzlers

(Click to enlarge)

- The U.S. auto industry had another record year in 2016, with sales topping 17.5 million vehicles.
- However, consumers are shifting their purchasing habits to heavier, less fuel-efficient vehicles. Cheap gasoline since the collapse of oil back in 2014 has led to a dramatic…




Oilprice - The No. 1 Source for Oil & Energy News