- IHS Markit: GDP will increase by 4.2% in 2021; 3.8% in 2022;
- rising GDP contributes to EIA's forecast of rising total energy use in the US
- after falling by 7.8% in 2020, EIA forecasts that total US energy consumption will rise by 2.6% in 2021 and 2.5% in 2022, reaching 97.3 quadrillion BTUs, 3.0 quads less than in2019;
- EIA forecasts Brent crude to average $53/bbl in both 2021 and 2022 (that is bad, bad news for Saudi Arabia);
- Brent averaged $42/bbl in 2020
Much, much more at the link. "Focus on Fracking" will like touch on the report this next week.
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It Will Be Interesting To See How This Plays Out
Link here. EU dependent on fossil fuel taxes. What happens when fossil fuels phased out?
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