Examining Trends in the US Energy Industry

COVID-19 – and the responses of governments around the globe – ushered in a particularly volatile era for energy markets. Now, four-plus years out from the pandemic, where do we stand? And more importantly, where are we headed?

ITR Senior Forecaster and Speaker Connor Lokar will address these topics in his September Insider™ webinar. First of all, Connor knows the answer is not one size fits all. Natural gas prices have averaged around $2 per million BTUs since early 2023. This is somewhat below the pre-COVID price; 2019 prices averaged $2.57. Conversely, oil prices – which averaged $77 per barrel in August – are still elevated compared to the 2019 average of $57. Connor will take a look at the supply and demand factors that underpin disparities such as these. He will also discuss where these traditional energy markets are headed.

In addition to the traditional energy sources, renewables are gaining steam. Annual average US Electric Power Sector Renewable Energy Consumption has increased 18% from February 2020 to May 2024 as customers and utilities gravitate toward wind, solar, and other renewable energy sources. Connor will examine renewable energy consumption for not only the power sector, but other sectors as well. He will also provide forward-looking guidance for segments, such as power facility construction, that will benefit from an increased focus on energy.

Finally, we know that the US energy sector is not monolithic and does not operate in a vacuum. Rather, it is a dynamic collection of various regions and segments – each with its own respective competitive advantages and disadvantages – operating within a global energy market. Connor will also address these regional and global factors in his presentation so firms can effectively position themselves.

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