The decision by Warren Buffett’s utility company to order about $1 billion of wind turbines for projects in Iowa shows how a drop in equipment costs is making renewable energy more competitive with power from fossil fuels.
Tesla could represent a future where our energy mix will be shuffled up. Not only will we be driving electric cars but also natural gas. We will have a choice at the pump and not just premium or regular.
Shale production continues to rock the global oil market and is making our target of $88 a barrel looking more likely any day. Since crossing $100 a barrel, which I equated to crossing the Rubicon, oil had has its biggest monthly drop of the year.
In the past when OPEC’s back has been against the wall, like the late-1990s, energy prices and demand rebounded to save them from the ash heap of history. Yet this time may be different. Why? Because OPEC is not the only game in town!
U.S. oil output is poised to surpass Saudi Arabia’s in the next decade, making the world’s biggest fuel consumer almost self-reliant and putting it on track to become a net exporter, the International Energy Agency said.