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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