• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 1 day "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 7 hours "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 6 hours "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 13 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 7 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 6 hours The Federal Reserve and Money...Aspects which are not widely known
  • 5 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 13 hours "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 12 hours "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 7 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 8 days Goldman Betting on Cryptocurrencies
  • 12 days Сryptocurrency predictions
Editorial Dept

Editorial Dept

More Info

Premium Content

The U.S. Might Need To Increase Electricity Generation By 480%

1. Brussels Investigates Traders’ Gas Profit-Making

- According to media reports, the European Central Bank is investigating the use of derivatives by European energy companies to generate huge profits on soaring power and fuel prices.

- German utility company Uniper came under closer scrutiny after it reported a $14 billion loss in H1 2022, setting the stage for its $40 billion markdown in Jan-Sep, the worst result for any German company on record.

- Brussels argues that strict rules applying to banks should be extended to trading firms, especially since market analysts and rating agencies lack oversight over their derivative trades.

- Margin call pressure has subsided in Europe recently as gas prices continue their downward movement, trading around €115/MWh ($36/mmBtu) recently.

2. US Might Need Five Times as Much Power

- If the United States is to reach its 2050 decarbonization goals, the US economy might need to increase its electricity generation capacity by as much as 480% to comply with the Paris Accords.

- According to a study released by the Electric Power Research Institute, firm capacity should increase by 300-400 GW from today’s level of 850 GW and intermittent wind and solar capacity should at least quadruple from the current 200 GW.

- The share of fossil fuels in US electricity generation currently stands at 61%, with natural gas accounting for almost 40% of the national tally, although…

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