The United States Passes China as Largest Consumer of Fossil Fuel Power
U.S. power-generating companies are announcing plans for the highest volume of new natural gas-fired capacity in years.
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Since June 2024, high U.S. summer electricity demand has been mostly met by increased gas-fired power generation, while a rebound in hydropower in China has limited to some extent the share of coal in its electricity supply.
The rise in natural gas power output could undermine the current U.S. goals of making the grid zero-carbon by 2035.
U.S. power generation from natural gas surged by 20% in the first nine months of 2024, compared to the same period of 2019. The share of gas in power supply has jumped to 43% from 38% five years ago.
U.S. power-generating companies are announcing plans for the highest volume of new natural gas-fired capacity in years as the AI boom is driving demand for electricity.
Source: OilPrice.com
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