When will green oust Oil? The Shifting Dynamics of an Energy Transition

Douglas McIntyre and David Callaway analyze the interplay between U.S. oil production and OPEC+ strategies. While OPEC+ continues its traditional game of balancing volume and price, U.S. private enterprises pump freely, keeping America as the largest oil producer. They note OPEC’s waning influence compared to the dominance it held in the 1970s and deal with the pivotal question of when renewable and nuclear energy sources might begin to overshadow oil, marking a crucial turning point for global energy markets.