EIA's STEO Released -- January 12, 2021

Link here.

• 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. 

**********************************
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?