Energy Prospectus

8 consequential energy predictions for 2023. Forbes.
Bottom line: 2023 promises to become perhaps the most consequential year in the world of energy in modern times. Better buckle up for a wild ride.
> The renewable energy sector will see a dramatic expansion in the United States during 2023;
> U.S. electricity grids will become increasingly unstable as a result;
> The oil and gas midstream sector will continue to be hampered by FERC; < #1 reason why U.S. oil & gas production will not grow much in this decade.
> Europe’s energy crisis will evolve into an energy calamity in 2023;
> Oil prices will hit $100 again in 2023;
> The average U.S. price for a gallon of regular gas at the pump will hit $5 again;
> America’s Shale industry will happily stay in its new-found sweet spot;
> Saudi Arabia’s membership application will be approved by BRICS.

Read more: https://www.forbes.com/sites/davidblack ... c62c6571ef

This is why we must have a common sense energy policy. However, I do not expect our elected leaders to grow any common sense this year.

Forbes:

"The renewable energy sector will see a dramatic expansion in the United States during 2023 - This is probably the easiest prediction to make. The hundreds of billions of dollars in new subsidies and incentives contained in two federal bills, the Bipartisan Infrastructure Law (BIL) and Inflation Reduction Act (IRA) are already creating something of a feeding frenzy at the federal trough as startups and established companies alike line up to qualify their projects and innovations for a piece of the huge pie. Those billions in subsidies will be multiplied in economic impact as private capital competes to get involved in helping to finance qualifying projects, which is how those laws are designed to work. The energy media will be filled with stories covering this dynamic for years to come. I’ve already published half a dozen such pieces myself. For better or worse, this will be the major growth area of the U.S. energy sector for years to come. It is baked into the national policy cake at this point."

"U.S. electricity grids will become increasingly unstable as a result - By now, most credible sources are recognizing that the practice of piling up increasing levels of unpredictable intermittent generating capacity - wind and solar - into integrated grids without adequate investments in corresponding dispatchable thermal capacity is the major cause of rising levels of instability in American power grids. The rapid expansion of wind and solar without any semblance of adequate battery back-up capacity and ongoing under-investment in thermal capacity will ensure that the jobs of grid managers will continue to grow much harder during 2023."