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Wednesday, May 15, 2024

Pre-Market Surges -- April CPI Comes In Better Than Expected -- May 15, 2024

Locator: 47156B.

CPI: first slowdown of the year.

Personal investing:

  • I'll re-post my earlier thoughts which I took down overnight. 
  • adding to positions in CRH and MU today, by rule
  • no recommendation; see disclaimers.

Market: US equity markets -- 70% of the market is run by:

  • "algos"
  • momentum

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Back to the Bakken

WTI: $77.99.

Thursday, May 16, 2024: 21 for the month; 85 for the quarter, 284 for the year
39877, conf, Liberty Resources, Overdorf W 158-06-1-12-1MBH,

Wednesday, May 15, 2024: 20 for the month; 84 for the quarter, 283 for the year
None.

RBN Energy: as data centers proliferate, utilities turn to gas-fired power to meet demand. Archived.

The growing number of energy-intensive data centers coming online across the U.S. is spurring utilities to ramp up their plans for adding new sources of power generation — including a slew of gas-fired plants — and also complicating their efforts to rely more on renewable resources and decarbonize the power grid. The push to quickly develop new energy infrastructure is also running into well-documented issues with permitting such projects. In today’s RBN blog, we discuss the proliferation of massive data centers — many of them catering to the surge in interest in artificial intelligence (AI) — and what that means for utilities and power-related demand for natural gas. 

U.S. electricity consumption totaled 4.07 trillion kilowatt-hours (kWh) in 2022, the highest on record and 14 times greater than in 1950, according to the Energy Information Administration (EIA). As shown in Figure 1 below, electricity use increased in all but 11 years between 1950 and 2022, although the recent trends tell a more complex story — eight of those year-over-year decreases have occurred since 2007 thanks to efforts to improve energy efficiency and reduce power usage. But things are changing, and quickly.

U.S. Electricity Retail Sales to End-Use Sectors, 1950-2022

Figure 1. U.S. Electricity Retail Sales to End-Use Sectors, 1950-2022. Source: EIA

The EIA expects the U.S. to set new power-demand records in 2024 and 2025, and fast-rising demand from AI-focused data centers, electric vehicles (EVs) and the “electrification of everything” strongly suggest that we’re in for an extended period of power-generation development. The EIA sees U.S. energy consumption steadily increasing through 2050, with electricity playing an increasingly large role.

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