26 December 2017

Direct From Mike Allen @ Axios

1 big thing: Something changing for the better
Illustration: Rebecca Zisser / Axios
 
In 10 years, the U.S. has gone from an energy-scarce to an energy-abundant nation. That's the big takeaway from a trends synthesis by Axios' Amy Harder in her weekly "Harder Line" energy column:
Winners:
  • America's oil production has nearly doubled over the last decade, and the U.S. became the world's biggest oil producer a few years ago, thanks to drilling technologies like fracking and horizontal drilling.
  • America is now the world's biggest natural-gas producer.
  • Former President Obama's aggressive environmental agenda was made politically easier because plentiful supplies of cleaner burning gas enabled an affordable shift away from coal for generating electricity.
  • Fueled by federal subsidies and state mandates, wind and solar energy has skyrocketed, creating jobs across the country and lobbying prowess in Washington and state capitals.
    • Wind production has increased more than than 200%, while solar's rise has been even more exponential, growing from almost nothing in 2008.
Losers:
  • Burgeoning production has complicated policies predicated on limited oil supplies, including a federal ethanol mandate and fuel-efficiency standards for cars.
  • The one-two punch of cheap natural gas and cheaper renewables is accelerating the downfall of America's nuclear and coal industries.
    • More than a dozen nuclear reactors have shut down or are set to shut down.
    • Coal faces aggressive environmental regulations and greater concern about climate change.
  • Environmental concerns have risen alongside economic gains of the oil and gas boom.
See Amy's 10 trends.
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