U.S. electricity generation from wind power is on course to surpass coal-fired electricity generation, potentially by 2026, as wind supply growth expands at a record pace just as coal-fired generation is cut across the country. Coal-fired power remains the second largest source of U.S. electricity behind natural gas, and over the first 10 months of 2023 coal-fired output was roughly 60% greater than total generation from wind sources, data from think tank Ember shows. But with wind power generation rapidly rising in most regions while utilities steadily cut coal capacity, wind output is on track to eventually overtake coal output within the U.S. electricity generation mix, which will mark a significant milestone in U.S. energy transition efforts.
Asia boosted clean electricity output and slashed its share of fossil fuels faster than North America and Europe from 2015, data shows, underscoring resistance by Asian nations to a western push to choke private financing for coal-fired power. There is wide agreement that increasing clean power, such as wind and solar, is central to curbing carbon emissions to fight climate change. However, China and India did not back the COP28 pledge as it was twinned with curbing use of fossil fuels, which they see as essential to reliably meeting rapidly rising power demand.
Brent crude futures rose 63 cents, or 0.8%, to $78.66 a barrel by 0946 GMT. Comments by Saudi Arabia's energy minister that OPEC+ production cuts could continue past the first quarter of 2024 lent some price support, said OANDA analyst Kelvin Wong. Oil prices had declined on Monday on doubts that OPEC+ supply cuts would have a significant impact, said CMC Markets analyst Tina Teng.