Things That Make You Say, ‘Hmm’
Interesting news nuggets today: Coming off a “high” of 12% last month, wind this week dropped to just 6% of the total energy used by U.S. power plants to generate electricity. By contrast, natural gas rose to 44% of the total vs 40% in the same period.
Reese Energy Consulting today is following a lively piece that recently appeared in Forbes questioning the DOE’s 2023 Annual Energy Outlook—in particular, gas power generation and demand for natural gas. According to the report, both are projected to substantially drop this year, beginning a downward trend over the next 24 years. The basis for this decline? A sudden meteoric rise in wind (3%) and solar (9%) to generate electricity. Hmm. How do you predict intermittent energy sources exactly?
Returning to the article, we are reminded of Calif., last September amid a heatwave when wildfire smoke blocked solar panels trying to capture the sun. Good ol’ natural gas picked up the slack, generating 60% of the state’s electrical power.
And speaking of future gas demand, another LNG terminal is set to join the growing landscape. Newcomer Grand Isle LNG yesterday announced its proposed 4.2-mtpa liquefaction terminal 13 miles offshore Plaquemines Parish, La. Grand Isle joins nine other LNG projects currently under development and scheduled to go online by 2027. Texas LNG, Next Decade, and Delfin will make FIDs this year. Oh, and Excelerate just added an 11th regasification vessel to its fleet.