Clean Energy Rises: Is This The Death Of The Petroleum Industry?
The U.S. derives its energy consumption from five primary sources: petroleum, natural gas, coal, nuclear, and renewables or green energy. In 1950, U.S. energy consumption was dominated by petroleum and coal. By 2019, nearly 70 years later, petroleum was still number one, natural gas was a close second, renewables were third, and coal was number four. The use of renewables has been rising steadily in recent decades and by 2019 it was the third most consumed primary energy source in America. In short, there is a groundswell of support for cleaner fuels. Yes, things are changing, and change is rarely easy. Which countries will be most affected by this transition to renewable energy? What will the U.S. energy complex look like in 20 or 30 years? While that’s hard to say, here are a few things to watch.