Tea Leaves Suggest Three Things: US Electricity, Natural Gas, And Oil Demand Will Surge Through The Next Decade -- January 7, 2024

Locator: 46480ENERGY.

Themes: 2024.

AI will drive electricity demand.

Electricity demand will drive natural gas demand.

Deglobalization will drive US crude oil demand. 

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The Bakken Effect

From Geoff Simon's weekly North Dakota top energy stories

Basin Electric is looking at new generation capacity likely to be needed by 2030.

Because of member load growth in western North Dakota, a Basin Electric team will begin to investigate building a new generation facility.

The team is looking at the potential of an additional natural gas-fueled power plant to be located within the Southwest Power Pool footprint in western North Dakota, to be completed close to the year 2030.

Dispatchable generation is critical to keeping electricity reliable. The grid needs facilities to power up when electricity is needed, and ramp up or down to meet the needs of electricity users, to maintain the integrity of the transmission grid.

Matt Ehrman, Basin's VP of Engineering and Construction, said because a lead time of several years is required for environmental permitting, equipment purchases and other tasks, investigation now is important.

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AI, EV, And Electricity Dispatchability

Link to Barron's.