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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). EIA also published its annual Summer Electricity Industry Outlook , which forecasts that continued US economic growth will increase electricity use by 0.4%

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Rhodium Group estimates US GHG fell 2.1% in 2019, driven by coal decline

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The Rhodium Group, an independent research provider, estimates that, after a sharp uptick in 2018, US greenhouse gas (GHG) emissions fell by 2.1% This decline was due almost entirely to a drop in coal consumption. Coal-fired power generation fell by a record 18% year-on-year to its lowest level since 1975. Coal-driven decline.

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Utility solar dethrones coal as the cheapest power source in Asia

Baua Electric

Photo: China News Service Renewable energy costs in Asia last year were 13% cheaper than coal and are expected to be 32% cheaper by 2030, according to a new study. This is significant because it marks a shift toward making renewables increasingly competitive with coal, a mainstay in APAC’s energy mix.

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In a ‘monumental shift’, EU coal and gas collapse as wind and solar ascend

Baua Electric

Photo: Hornsea Project Europe’s coal electricity generation tanked by 26% and gas by 15% in 2023, according to a new report from energy think tank Ember. What’s more, for the first time, wind power, which grew by 18%, surpassed gas, which only accounted for 17% of Europe’s electricity. compared to 2022.

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Bloomberg NEF forecasts falling battery prices enabling surge in wind and solar to 50% of global generation by 2050

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This year’s outlook is the first to highlight the significant impact that falling battery costs will have on the electricity mix over the coming decades. BNEF predicts that lithium-ion battery prices, already down by nearly 80% per megawatt-hour since 2010, will continue to tumble as electric vehicle manufacturing builds up through the 2020s.

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Breaking: US, other G7 countries to phase out coal by early 2030s

Baua Electric

In a historic agreement, the G7 just agreed to phase out coal in the first half of the 2030s, according to statements made today. The US is in line with the G7 average (16%), while the other G7 members have mostly already phased out coal: France (0.4%), the UK (1.4%), Canada (5%), and Italy (5.3%).

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IEA: global CO2 emissions rebounded to their highest level in history in 2021; largely driven by China

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billion tonnes, their highest ever level, as the world economy rebounded strongly from the COVID-19 crisis and relied heavily on coal to power that growth, according to new IEA analysis. Coal accounted for over 40% of the overall growth in global CO 2 emissions in 2021, reaching an all-time high of 15.3 billion tonnes. billion tonnes.

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