2023 Energy Predictions

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Google “2023 energy predictions” and you’ll see, it’s that time of year again!  The time of year where all the so-called experts come out of the woodwork to make their predictions for the coming year.  So, I thought I’d jump on the bandwagon and focus on this topic for today’s post.  You know what they say, ?when in Rome…?

Forbes’ 2023 Energy Predictions

Like I said, google “2023 energy predictions” and you won’t be disappointed by a lack of results, but some articles are obviously better than others, so I thought I’d focus on one of the better ones, Forbes’ energy predictions for the year.

Here is the abbreviated list for your skimming pleasure:

• Renewable energy sources will dramatically expand in 2023 – The Bipartisan Infrastructure Law (BIL) and Inflation Reduction Act (IRA) will provide hundreds of billions of dollars in subsidies and incentives for clean energy projects.
• The power grid will become unstable due to the influx of clean energy sources – It will take time for the energy mix to balance itself, and for critical technologies like energy storage to become better and more ubiquitous.
• FERC will continue to be a thorn in the side of midstream oil and gas companies – Biden’s energy policies involve obstructing interstate pipeline permitting in favor of renewable energy, among other things.
• Europe’s energy crisis will reach the breaking point – The war in Ukraine will turn a bad situation into a catastrophe.
• Oil prices will again cross the $100 threshold – An opinion shared by S&P Global vice chairman Dan Yergin, as well as many other companies in the same business.
• Gas prices will hit $5 a gallon in the U.S. again – Rising oil prices makes this a likely outcome.
• The shale industry will have a strong year – The industry was the best-performing business sector in the U.S. in 2022, and environmental and economic conditions remain extremely favorable, allowing the good times to continue to roll.
• The BRICS Alliance (Brazil, Russia, India, China and South Africa) will allow Saudi Arabia to become a member.

So, there you have it, a nice set of 2023 energy predictions for you.  Better buckle up!