• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 8 days e-truck insanity
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 8 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 11 days Bankruptcy in the Industry
Editorial Dept

Editorial Dept

More Info

Premium Content

Renewable Energy Set To Reshape The U.S. Power Sector


1. Renewables shift to accelerate

- The shift towards renewable energy in the U.S. will accelerate over the next two to three years, according to an IEEFA analysis.

- Solar and wind are the least cost option in most of the country. “Coal will be pushed out of the electricity sector completely, with gas set to decline as well,” said Dennis Wamsted, an IEEFA analyst. “Cleaner and lower-cost wind and solar, coupled with battery storage, will drive fossil fuels out of the market.”

- IEEFA forecasts coal’s share of the electricity market will fall to 10 percent by 2025.

- The report points to Texas as an example of what will unfold. In 2011, wind was already 8.5 percent of the market, and coal was 39 percent. By 2020, wind was 22.8 percent and coal fell to 17.9 percent.

- “The Texas transition will not be replicated precisely in other areas of the country, but the broad themes are certainly going to hold true, particularly the surge in new wind and solar generation through 2024,” one of the authors said.

2. Oil majors remain cautious in Permian

- ExxonMobil (NYSE: XOM) and Chevron (NYSE: CVX) are still exercising restraint in the Permian basin. The two oil majors accounted for 28 percent of drilling activity last spring, and that is now down to less than 5 percent.

- “We essentially hit a pause button,” said Chevron Chief Financial Officer Pierre Breber, according…

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News