{"id":5182,"date":"2025-04-07T15:44:34","date_gmt":"2025-04-07T15:44:34","guid":{"rendered":"http:\/\/mywatchseries.me\/?p=5182"},"modified":"2025-04-07T15:54:38","modified_gmt":"2025-04-07T15:54:38","slug":"eic-report-warns-of-climate-shortfall-as-north-america-expands-both-renewables-and-oil-gas","status":"publish","type":"post","link":"http:\/\/mywatchseries.me\/index.php\/2025\/04\/07\/eic-report-warns-of-climate-shortfall-as-north-america-expands-both-renewables-and-oil-gas\/","title":{"rendered":"EIC Report Warns of Climate Shortfall as North America Expands Both Renewables and Oil & Gas"},"content":{"rendered":"

Solar and wind hit record growth, but surging LNG and oil output threaten 2030 emissions targets, says Energy Industries Council analysis.<\/em><\/p>\n

Houston, TX, 7 April \u2013 North America\u2019s energy sector is charting two paths: a historic surge in renewable energy projects is met with fossil fuel expansion that\u2019s threatening the continent\u2019s climate commitments, according to report by global energy trade association and data and analytics provider, the Energy Industries Council (EIC).<\/p>\n

The region added 214 utility-scale energy facilities last year, with over half being wind, solar, and storage installations. Yet simultaneous record growth in LNG exports, oil drilling, and petrochemical production is a clear indication that, in the region, conventional and new energies will walk hand in hand at least over the next few years even if at the expense of meeting climate pledges.<\/p>\n

\u201cThis isn\u2019t a transition, it\u2019s a coexistence,\u201d said Rebecca Groundwater, EIC\u2019s head of external affairs. \u201cGovernments are scaling renewables to meet climate goals but doubling down on fossil fuels to hedge economic and geopolitical risks. The situation mirrors global struggles to balance decarbonisation with energy security.\u201d<\/p>\n

Solar dominated renewable growth, with 100GW of installed capacity across North America, 88% of it in the U.S. Nevada\u2019s 690MW Gemini Solar-Plus-Storage project, the continent\u2019s largest, began operations in July 2024, pairing photovoltaic panels with a 380MW battery system. Wind remains, however, the top renewable source at 214GW, though new installations fell 35% year-over-year as developers opted to repowering aging turbines.<\/p>\n

Fossil fuels retain a firm grip. The U.S. became the world\u2019s top LNG exporter in 2024, shipping 11.9 billion cubic feet per day (Bcf\/d) to Europe and Asia\u2014that\u2019s up 27% from 2023. Canada\u2019s Trans Mountain Pipeline expansion, completed in May 2024, tripled oil sands crude capacity to 890,000 barrels per day (b\/d), while Mexico\u2019s state-owned PEMEX launched the 340,000 b\/d Dos Bocas refinery\u2014a $12 billion project opposed by environmental groups.<\/p>\n

\u201cFossil fuels aren\u2019t retreating,\u201d said report author Vict\u00f3ria Marques. \u201cGas is now framed as a \u2018bridge\u2019 fuel and oil as \u2018strategic,\u2019 while carbon capture as the magic bullet that removes at least some of the carbon emitted by both.\u201d<\/p>\n

The report discusses how North America is leveraging resources to reshape global alliances. U.S. LNG exports have weakened Russia\u2019s energy stranglehold on Europe, with projects like Venture Global\u2019s 12 million-ton-per-annum (mtpa) Plaquemines terminal in Louisiana accelerating shipments. Meanwhile, Canada is positioning itself as a critical minerals hub, supplying lithium and cobalt for EV batteries amid U.S.-China trade tensions.<\/p>\n

Mexico, long oil-centric economy, is making a $21 billion bet on green hydrogen. Projects like the 1.2GW Helax-Isthmus facility in Oaxaca aim to produce 900,000 tons of green ammonia annually by 2032, targeting export markets in Europe and Asia.<\/p>\n

\u201cMexico\u2019s hydrogen bet is a good case in hand,\u201d Marques said. \u201cEmerging economies aren\u2019t just energy consumers anymore. They\u2019re disruptors in the clean tech race; we\u2019re seeing this globally where developing economies in regions like Africa could play a major role in supplying the world with green hydrogen.\u201d<\/p>\n

Nuclear power is also reviving, driven by AI\u2019s massive energy demands and shifting politics. The U.S. ban on Russian uranium imports, enacted in March 2024, has forced utilities to restart domestic nuclear fuel production after decades of reliance on Moscow.<\/p>\n

Next-gen projects are gaining traction too: Canada\u2019s Ontario Power Generation plans to deploy a 300MW small modular reactor (SMR) at its Darlington site by 2028, while Holtec International seeks to reopen Michigan\u2019s Palisades plant\u2014shuttered in 2022\u2014to power data centres.<\/p>\n

\u201cNuclear is back not because it\u2019s clean, but because it\u2019s constant, it\u2019s a perfect baseload clean power solution,\u201d Marques said. \u201cWe expect them to play a major role feed the insatiable demand for energy by both AI and cryptos.\u201d<\/p>\n

The U.S. added its first new nuclear reactor in 30 years\u2014Georgia\u2019s 1.1GW Vogtle Unit 4\u2014but aging infrastructure remains a liability. Twenty-one North American hydropower dams, including the 80-year-old Grand Coulee in Washington, require $17 billion in upgrades to avoid breakdowns.<\/p>\n

Despite progress, the report warns North America is off-track for 2030 targets. Methane leaks from U.S. oil fields and Canada\u2019s oil sands cancel out emissions cuts from solar farms. Clean energy job growth lags fossil fuel employment in states like Texas and Alberta.<\/p>\n

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The Energy Industries Council brings together over 950 companies from the energy supply chain sector across all industries.<\/em><\/p>\n

Since 1943, we have evolved to provide up-to-date global market intelligence, unrivalled networking opportunities, and direct engagement with policymakers across regions.<\/em><\/p>\n

Our members\u2014leading innovators, industry experts, and global thinkers\u2014are at the forefront of the energy transition.<\/em><\/p>\n

Through our leading events, real-time project data, and policy expertise, we help members capitalise on opportunities and scale their operations globally. Together, we are working towards a more sustainable future.<\/em><\/p>\n

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About Parul Dubey<\/a><\/h3>\n<\/p>\n
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