While that trails California’s 52%, Texas is a bigger market. It’s already No. 1 in wind, making it the largest clean energy market in the US.

Brent rose 63 cents to $80.27 a barrel, WTI climbed 62 cents to $76.27 a barrel.

Benchmark futures settled 3.9% higher after another session of sharp price moves. Searing temperatures in parts of the region and global competition for liquefied natural gas continue to provide upward pressure — even as flows from Norway, Europe’s top supplier, return to levels last seen in April.

BNEF estimates that the global annual green investments would need to almost triple to $6.9 trillion by 2030 to have any hope of getting to net zero by 2050.

Wind employs twice as many people as coal power generation. However, coal still produces 19.5% of our electricity while wind only accounts for 10.2%.

Historically, power cuts and outages were deemed a problem only for the developing world, however, we’re now seeing more of these issues in the so-called developed world, primarily driven by a lack of electricity infrastructure spend over many years.

U.S. commercial crude oil inventories decreased by 0.7 million barrels to 457.4 million barrels.

Brent had added 5 cents, or 0.1%, to $81.41 per barrel, WTI rose 9 cents, or 0.1%, to $76.98.

The Brent crude oil spot price will average $80 per barrel (b) in 4Q23 and $84/b in 2024.

According to price reporting agency Argus Media, Urals crude topped $60 a barrel on Wednesday, climbing above the cap that the Group of Seven set last year in an attempt to restrict revenue to Moscow’s war machine.