French President Emmanuel Macron's environmental appointee, Nicolas Hulot, has his eyes set on quite a goal for the country in 2040. Over the next 33 years, France is planning to become carbon neutral by banning the market of fossil fuel vehicles which make up 96.5% of the French market. This announcement has caused a stir in many of France's main manufacturing brands, who now plan to accelerate their plans of at least a hybrid model if they haven't already done so. However, in order for the country to become completely carbon neutral, it'll be more than just vehicles - electricity generation and other carbon activities will have to find alternatives. This all comes in an effort to further support the Paris Climate Accord as well as the explicit statement that President Trump's decision to withdraw was a key factor in this plan's development.
Vitality of Texas Oil & Gas Industry
Oil and gas has long been a key industry promoting economic growth nationwide - even globally. However, here in Texas, the industry has a significant impact on multiple factors from city/state revenue to overall employment. The uptick and seeming stability above $40/boe from last August has increased the nation's rig count and, in turn, production, employment, and growth. Nationwide, the Permian Basin out in the west of the state accounts for 40% of the total rig count and 55% of the industry's jobs nationwide. Over the past few months, the steady increase in rig count has increased jobs by 3,300 in the region with 72% of that being in the service sector. This growth, layered with higher priced production hedges and increased nation exports will allow the price of oil to continue to rise, at least through year end.
Solar Energy Gaining Colossal Momentum
Renewable energy opportunities have historically fallen as the "little brother" to mainstream energy sources such as coal and natural gas. Although some advancements have been made in the storage arena, the cost to supply the same power needs all-in just weren't comparable. However, Tucson Electric signed a deal this past week to supply solar and storage at 4.5 cents per kilowatt-hour over the next 20 years. "That's less than half the price of retail electricity power and a price low enough to compete with natural gas, coal, and nuclear power head to head in wholesale markets for what some might call 'baseload' power." The economics of this deal have the potential of exponential growth for solar energy around the world so long as the cost to produce & store it stays below other energy sources.