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3 Oil Majors That Bet Big On Renewables

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Big Oil has frequently been chided for merely trying to burnish its green credentials, and so far, it has done little to convince us that it is truly moving forward to greenness. Let this sink in: In 2018, Big Oil spent less than 1% of its combined budget on green energy projects. by Alex Kimani for Oilprice.com.

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.

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Renewables now make up 30% of US power capacity – FERC

Baua Electric

Photo: Openverse Renewables – solar, wind, biomass, geothermal, hydropower – are now 30% of total US electrical generating capacity, according to analysis of FERC’s mid-year data. FERC says renewables were 99% of new generating capacity in June and 91% in H1 2024. For seven of those 10 months, wind took second place.

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Solar + wind now make up more than 20% of US electrical generating capacity

Baua Electric

Photo by Amol Mande on Pexels.com Solar and wind now make up more than 20% of total US electrical generating capacity, according to new data from the Federal Energy Regulatory Commission (FERC). The renewable energy mix – biomass, geothermal, hydropower, solar, and wind – is now nearly 30% of total US electrical generating capacity.

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US renewables’ installed generating capacity beats coal

Baua Electric

Photo by Los Muertos Crew on Pexels.com Solar capacity additions hit the ground running in 2024, pushing renewables’ installed generating capacity past coal, according to new US Federal Energy Regulatory Commission (FERC) data. The post US renewables’ installed generating capacity beats coal appeared first on Bauaelectric Auto News.

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How renewables could beat natural gas in US generating capacity within 3 years – in numbers

Baua Electric

Photo courtesy of Tom Brewster/BLM California US renewables’ electrical generating capacity could be close to – and may even surpass – natural gas within three years, according to FERC data. Three megawatts each of new biomass and oil capacity plus 1 MW each of new hydropower and natural gas capacity made up the balance.

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EIA projects increases in global energy consumption and emissions through 2050

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According to the IEO2021 Reference case, which projects future energy trends based on current laws and regulations, renewable energy consumption has the strongest growth among energy sources through 2050. Oil and natural gas production will continue to grow, mainly to support increasing energy consumption in developing Asian economies.

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