Energy transition

The United States is actively shifting from fossil fuels towards clean energy sources.

Recent trends indicate that investments in clean energy technologies are significantly outpacing those in traditional fossil fuels. In 2024, global investments in clean energy surpassed fossil fuel investments, with approximately $2 trillion directed towards clean technologies compared to around $1 trillion for fossil fuels​.

This shift is driven by several factors, including technological advancements that have made renewable energy sources like solar and wind more cost-effective, as well as strong government policies and incentives supporting clean energy initiatives​

The Inflation Reduction Act and other supportive measures have played a crucial role in fostering a clean energy manufacturing ecosystem within the U.S.​

Despite these positive developments, challenges remain, particularly in integrating renewable energy into the existing grid and the continued popularity of oil and gas investments among some investors. However, the overall trend points towards a growing commitment to reduce reliance on fossil fuels as part of a broader strategy to address climate change and enhance energy security​

Source: Shale Magazine, a nationwide industry publication that showcases the significance of the U.S. petroleum & energy market.