Energy Report: OPEC Plus Unleashed

Still, under President Trump, according to the Energy Information Administration, the United States installed more wind turbine capacity in 2020 than in any other year even though the US was not in the Paris Climate accord that globalists and billionaires fawn over. The EIA said that in both 2019 and 2020, project developers in the United States installed more wind power capacity than any other generating technology. According to data recently published by the U.S. Energy Information Administration (EIA) in its Preliminary Monthly Electric Generator Inventory, annual wind turbine capacity additions in the United States set a record in 2020, totaling 14.2 gigawatts (GW) and surpassing the previous record of 13.2 GW added in 2012. After this record year for wind turbine capacity additions, the total wind turbine capacity in the United States is now 118 GW. The impending phaseout of the full value of the U.S. production tax credit (PTC) at the end of 2020 primarily drove investments in wind turbine capacity that year, just as previous tax credit reductions led to significant wind capacity additions in 2012 and 2019. In December 2020, Congress extended the PTC for another year.

The Biden war on oil and gas could create a big spike in natural gas prices this summer. The EIA reported that "U.S. natural gas production—as measured by gross withdrawals—averaged 111.2 billion cubic feet per day (Bcf/d) in 2020, down 0.9 billion Bcf/d from 2019 as a result of a decline in drilling activity related to low natural gas and oil prices in 2020. The 2019 record-high increase in natural gas production led to higher volumes of natural gas in storage and lower natural gas prices. Beginning in March 2020, warmer-than-average weather along with the effects of the responses to COVID-19 drove down natural gas demand and further reduced prices. The lowest average monthly U.S. natural gas production volume was in May 2020 at 106.4 Bcf/d. By December 2020, natural gas production had increased to 113.0 Bcf/d. 

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