How Energy Got So Cheap | WSJ
Vložit
- čas přidán 3. 08. 2024
- An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened at once. Photo illustration: Carlos Waters/WSJ
More from the Wall Street Journal:
Visit WSJ.com: www.wsj.com
Visit the WSJ Video Center: wsj.com/video
On Facebook: / videos
On Twitter: / wsj
On Snapchat: on.wsj.com/2ratjSM
#WSJ #Energy #Explainer
How Energy Got So Cheap - Věda a technologie
![The moment we stopped understanding AI [AlexNet]](http://i.ytimg.com/vi/UZDiGooFs54/mqdefault.jpg)
My government: Nah, lets ignore that and still charge you the same price.
Aerojet Rocketdyne RS-25 which nation? Good luck!
Same in South Africa
Probably Indonesia
What are you complaining about? During high gas prices, the government kept it low for you to avoid unrest. Both free market prices and government controlled prices have their upsides and downsides. You want low oil prices? Drill your own oil.
@@Dayvit78 Government controlled prices are either above market equilibrium causing a surplus or they are below market equilibrium causing a lack of supply.
In either case they are not a good thing.
Not gonna lie but WSJ has really stepped up their CZcams game
Everyone is doing nowadays look at CNBC
RIP small creators.
why would you lie?
Yeah i get a VOX Vibe from their new vids
Not according to my electric bill 🤣
Shoooooooooottttt
@@panjoshua6251 Yeah, for whatever reason our electricity bill is increased arround 10% since June or July.
It depends where you live. If you live in California or New York they require a certain amount of their energy mix to be generated by renewables
At least it's cheaper to fill your gas tank than before. Your electric bill is high probably because you are living in a Democrat state where the Democrats put lots of taxes on the electric grids and also on your bill.
@@carriesteel9919 In the Democrat states we still have electricity when it gets cold, because we have reasonable regulations. Unlike Texas, where a single cold snap took out electricity for a week and the unregulated market tossed bills for THOUSANDS of dollars to the unsuspecting few who still had it.
I'm glad that renewable energy becoming cheap and competitive
@anatoli p America has no land shortage.
they are not cheap or competitive.
@@Am-Not-Jarvis A great deal of the American land that is usable for wind and especially solar are too far from major urban centers that require the power from the renewable energy centers. Transporting the energy is too costly to be a reasonable alternative to using up a great deal of the land that America has that is prime for renewable energy development
@@DannyOngProductions Too costly to transport electricity? What? Electricity has to be the easiest thing to transport on earth. Electricity grids are hundreds, sometimes thousands of miles long and can transport large amounts of electricity in seconds with no moving parts.
The chart this video showed says solar is cheaper to produce than non-renewables. Do you have your own data that proves otherwise?
@@nolin132 Do you know anything about how grids operate? About loss? The cost comes from the fact that they generate more power at the plant for your house than what actually reaches your house. Some things you'll want to research.
Why are all of the lines in the plot at 4:37 subtle shades of pistachio green-beige? I can hardly tell the difference!
yes! same with other graphs. really hard to read
I’m colorblind so thus plot killed me.
Unbelievably stupid
WSJ: "How Energy Got So Cheap"
People in Germany: * laugh *
Stock EXCHANGE IBOVESPA BRAZIL COMPANY WEG 💎💎💎
Also people of Ontario
Video Idea for WSJ for German citizens: "How Energy got more expensive over time in Germany and why (TAX)."
Well, blame the green’s Paraty for that issue! No nuclear energy and high taxes at Fossil fuels
@@osmarsantanafilho3184 Nuclear energy has the highest LCOE of all, so you are mistaken there.
And taxes for fossil fuels is also not really correct. Lignite miner for example do not have to pay for mining rights.
"How Energy Got So Cheap" *laughs in $0.40 per kwh*
Time to go solar lol
I paid this month for 1203 kW/h 276$
Laughs in under $0.10 per kwh
@@youtubewatcher1555 Solar is what brings $.40
I pay .13 per kwh
Title: 'How energy got so cheap?'
Mitochondria: 'You'll getting paid!'
Hmm... they can't find a place to store the oil...
How about just leaving it in the ground?
There's enough space there to store all of the oil and more.
#keepitintheground
I think holding the production will cost the companies a fortune due to fixed costs. So they’re doing what they can to do minimize the losses, keeping up the production and selling it cheaper.
It’s not really possible to close up the holes I’m a Shareholder of an oil container ship but I really don’t care it’s losing $300 I have $90000 in Tesla
and more?
got some corpses to bury? :O
In a nutshell it's the demand and supply dynamics with the effects of Corona outbreak factored in. Storage costs also played a role in crude oil prices
Australian energy companies: Yeah, nah. We’ll charge more
Meanwhile in my country (india ). Fuel prices are increasing . The indian govt is doing so to generate revenue for the govt and oil companies .I am Happy for the rest of the world though.
It’s because people in India don’t pay their taxes so the govt has to tax oil
That's a good argument .But it's also true that due to rampant corruption most tax money goes to tax heavens hidden under shell companies . Or in countries that don't question account holder's money (Switzerland) while providing highest standard of living for their citizens.
Binesh Thoppil oh yeah I remember that’s why demonetization happener
@@Bobelponge123 are kiddin me so penalize ones aldready paying $5000 in taxes like my family . no wonder people are looking for a way out
It’s not the rest of the world, it’s the US. Very small change in the Nordics in gas prices.
"How energy got so cheap"
Me with my electricity bill costs nearly one-third of my salary
Where do you live and what do you do for a living? How much electricity do you use? I'm trying to make sense of your situation.
Might be time to buy a Tesla solar panel
Prob living in CA
Wind farm energy was never expensive. In fact.. it's free.
Fossil industry boneheads tried to dupe public perception of high wind energy costs by including the cost of construction and materials of facilities into their per kilowat hour estimates of wind energy as they were coming on line. But not the cost of construction, materials AND EXTRACTION operations of traditional fossil fuel per kilowat hour estimates because they were already built and in operation. DUH. Then they went off on a second lie rant about the high costs of wind farm maintenance as if fossil fuel operations don't cost equaly as much if not more to maintain. strip mining.... miles long fuel oil trains.. double tractor tanker trucks.. etc etc. "cheap" to maintain. yeah right.
@16vjtdalfa Even with energy storage added to their cost wind is cheaper when using the correct math. Cost of building a power plant and the batteries needed for grid balancing plus buying the fuel for running it for 30 years: ~3.5billion. Cost of building more than enough wind turbines and battery storage to replace that power plant plus extra reserve for windless days: ~1billion. Both last about 30 years though the batteries need to be replaced once or twice during that time.
After they are built the cost of running a solar or wind farm is basically just having few technicians on call and sending some minimum wage workers to wash the solar panels each week, fossil fuel plants need fuel each day and of course all the workers needed for operations and maintenance.
This problem is long overdue :
I hope the pandemic will accelerate the transition to alternative fuels. Both the present and the future of humanity should not be associated with coal and oil.
I didn't think twice.
Thank You dear WSJ for Your helpful information !
The wallstreet journal needs to do a video about ecosia they are a search engine that plants trees with their profits
Why do a video on tree hugging idiots?
Years ago in Washington DC, the local utility asked everyone to conserve and they did. Profit margins fell and they asked for a rate increase. It did not go thru.
Ontario: Hold my beer.
Interested in... ThankQ.
Whereas in India, since lesser people are using fuels, and global prices are low, they are charging more per unit, and also earning more profits than ever. Petroleum, Diesel, LPG, CNG are at all time high. Electricity bills have actually risen for most people here.
Interesting
Technology gets cheaper the more you use it. Commodities get more expensive the more you use it.
Somehow i feel like the narrator is Kane Diep from Buzzfeed.. lol
GREAT
TL;DR low demand, high supply.
Basic economic principle.
The colors used on the Levelized Cost of Electricity graph are indistinguishable from one another.
yeah they chose such light colors for the graphs
Then again, maybe natural gas suppliers won't be filling the tanks of mamy homes this winter, because the socioeconomic falloit from the pandemic will leave millions out in the cold. Also, i hope states consider giving its residents more incentives to install solar panels at their homes, and switch to electric/hybrid vehicles.
No! That's a lie too!
Fill your tank now?
If they cant afford to fill their propane tanks, they likely cannot afford solar on their own :( . A governmental push is necessary
Dont worry if you wave money at the window, someone will come do the work
I'm pretty sure a heat pump is quite different from induction heating about 400% more efficient.
Supply & Demand....Econ 101.
Renewable energy has always been competitive against fossil fuels if you remove the government subsidies
Once again, a prediction from Tony Seba comes true.
refpuz he's the real "I told you so" guy. And I'm happy that he's right :)
Who is that
In Australia it's the exact opposite. Also natural gas here is by far the most expensive form of electricity generation.
Not in the Philippines though. Lol
Lol 🇵🇭
In India prices are at an all time high.
Electricity and water bills increased. With goods and services, everything got expensive too.
You're in the tropics, you're surrounded by plenty of energy.
@@fauzirahman3285 how does this comment help anyone?
If energy prices are dropping, why is electricity so expensive and why is gasoline so expensive?
"reaping the benefits" The average person drives 30 miles a day at 25mpg. That's 8 gallons a week, and a savings of ~8$ a week over regular price of gas
bEnEfITS
It's about time! Just imagine 10-20 years down the line
Well, this didn't age well. Coal and oil prices are surging, natural gas shortages in the EU, and energy demand continues to rise causing an increase in prices again
Not in puertorico it’s actually getting more expensive
As the demand for natural gas declines, oil suppliers turn to renewables to buoy the prices of natural gas. Utilities benefit too. Usually, they can charge a premium for choosing to source from renewables, because it's the 'environmental' thing to do.
Seph The 100 percent renewable power companies are usually among the cheapest! I buy my electricity from a company that only buys renewable power, and they are significantly cheaper than every single one of the major U.K. power companies that are still dependant primarily on traditional power sources like gas.
When gas price is high. Complain. When gas price is low. Complain. Human’s 🤖 algorithm.
Where I live in the USA, New England region, gas price was a $0.70 a gallon when corona hit for about a few months then expodentionally shot up to $2.70 as of posting
It was amazing while it lasted might I add
What town is featured at 5:13?
So, just stop investing in fossil fuels, I guess? BlackRock made that decision a while ago based purely on business interest.
And since unions aren't that much of a thing in the US, it will probably not be a problem to lay off those oil workers
How does Comed charge me $14 for $1 worth of electricity but that’s okay Tesla will put Comed out of business.
I’m watching this now in California laughing. Just the you know summer black outs.
Dear Sir / Madam,
LLC"RAKURS" hereby with full legal Authorization wish to inform
you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high
sea.
We need serious Buyer for the products, Official MOU to the product
will be sent at your immediate response to this request will be high
appreciate.
NB: Only Official Buyers / Buyers Mandate are to respond.
Best regards,
LLC"RAKURS",
Dugieva rosa mustafovna .
WhatsApp +7 965 345 3833
Skype ID - live:.cid587bf2a71781f6cd
Email: dugievallc-rakurs@mail.ru
DIRECTOR / CEO.
If energy is so cheap why is electric bill $250 each ....
Dear Sir / Madam,
LLC"RAKURS" hereby with full legal Authorization wish to inform
you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high
sea.
We need serious Buyer for the products, Official MOU to the product
will be sent at your immediate response to this request will be high
appreciate.
NB: Only Official Buyers / Buyers Mandate are to respond.
Best regards,
LLC"RAKURS",
Dugieva rosa mustafovna .
WhatsApp +7 965 345 3833
Skype ID - live:.cid587bf2a71781f6cd
Email: dugievallc-rakurs@mail.ru
DIRECTOR / CEO.
Plz tell book source for this lecture
Most in the comment section are "...but the costs are still high..." or "increasing", that will always be true even in the future. Remember, these are *corporations* and they are under pressure from their shareholders / investors to be profitable. Not to mention, the corporations have other liabilities (debts, pensions, etc.) & even business maintenance costs. Combine these with the ever increasing cost of replacement parts to be kept in inventory for repairs, you'll end up with the ballooned cost you see today. It's awful as a consumer and none of us can really do much about it.
Although global prices decreased the govts aren't transferring it to public. I guess that's a measure for govts to stay afloat in this crisis
Not here in Australia unfortunately
in a couple of years 16MW turbines will be the norm off shore.
Nice to hear but I think you forgot to mention the oil price war this spring between Saudi's and Russia
Dear Sir / Madam,
LLC"RAKURS" hereby with full legal Authorization wish to inform
you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high
sea.
We need serious Buyer for the products, Official MOU to the product
will be sent at your immediate response to this request will be high
appreciate.
NB: Only Official Buyers / Buyers Mandate are to respond.
Best regards,
LLC"RAKURS",
Dugieva rosa mustafovna .
WhatsApp +7 965 345 3833
Skype ID - live:.cid587bf2a71781f6cd
Email: dugievallc-rakurs@mail.ru
DIRECTOR / CEO.
I think the statement that the US use of renewable energy surpassed coal energy in 2019 is misleading. The video mentions wind and solar as the renewables, but isn't it true that natural gas was the thing that surpassed coal? Natural gas is sometimes called a renewable but other times is not. I don't think our solar and wind is as efficient as purported by this video. Does anybody know?
In Kenya, low energy prices!?
Wow, who chose the line colors in the price graphs? Several graphs has indistinguishable colors- five lines of barely different earth tones. Looks “great” if these were paint colors for a room. Not so much if you’re trying to decipher a graph. It’s ok to use Red, blue.. you know the primary colors lol
I love true video but I can literally not see a single difference on the chart @ 4:21 for difference costs of electricity from different sources... kind of takes the point of the visual away
WSJ: How Energy Got So Cheap
My country: soo anyway I started raising electricity bills
4:27 wow, Raymond from everybody loves Raymond is a renewable energy expert?
I sure am not seeing this price decrease on my electricity bill.
Dear Sir / Madam,
LLC"RAKURS" hereby with full legal Authorization wish to inform
you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high
sea.
We need serious Buyer for the products, Official MOU to the product
will be sent at your immediate response to this request will be high
appreciate.
NB: Only Official Buyers / Buyers Mandate are to respond.
Best regards,
LLC"RAKURS",
Dugieva rosa mustafovna .
WhatsApp +7 965 345 3833
Skype ID - live:.cid587bf2a71781f6cd
Email: dugievallc-rakurs@mail.ru
DIRECTOR / CEO.
Heathing, eletricity, gasoline, public transport... all unanfordable for the poor.
Drill go burrrrrrr
This also keeping the Russian economy face-down, on the floor (what a coincidence!)
Laughs in Texan
2:12 Hmm lets look at California, wholesale cost is about $16 per MWh, or about 1.6 cents per kWh... yet I'm being charged 28-48 cents per kWh for the electricity that the gas produces? Looks like PG&E is going to be making record profits this year... again.
No coverage of subsidies.
Why is there no mention of nuclear energy?
There haven't been a difference to them.
warren buffet just spent 10billion dollars and bought some natural gas company, he probably sees it unstable lows.
He bought Dominion Energy's natural gas and storage business, he also owns lots of renewable energy and competing railways. The consumption of energy on a world platform is only going one way and he knows it. One of my best investments is in Brookfield Renewable Partners, others are in pipelines like TRP and ENB.
oil oil oil oil (laughs in oil)
Not for us in South Africa...
Dear Sir / Madam,
LLC"RAKURS" hereby with full legal Authorization wish to inform
you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high
sea.
We need serious Buyer for the products, Official MOU to the product
will be sent at your immediate response to this request will be high
appreciate.
NB: Only Official Buyers / Buyers Mandate are to respond.
Best regards,
LLC"RAKURS",
Dugieva rosa mustafovna .
WhatsApp +7 965 345 3833
Skype ID - live:.cid587bf2a71781f6cd
Email: dugievallc-rakurs@mail.ru
DIRECTOR / CEO.
Cheap electricity and gas prices need to rise? Smart money knows it Tesla's time. But shame to see young people have fewer job opportunities in the car fuel and service industries.
That graph on 4:15 mark has to be a joke.. couldn’t you maybe choose colors that aren’t so similar haha
No comment on shutting coal down
Or that different producers have different costs.
Do low cost producers will stay in production and as prices go up then those with higher costs can start selling.
At the same time wind and solar prices are coming down.
Nice story but lacking substance
but my bill is increasing every year.
Supply>Demand done.
I India the cost of petrol is the highest in 2 decades
A large part of renewables and carbon fuels is debt. Renewables have access to cheaper money because of the risks with carbon fuels.
Will get even cheaper when we mass produce fusion power
Dear Sir / Madam,
LLC"RAKURS" hereby with full legal Authorization wish to inform
you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high
sea.
We need serious Buyer for the products, Official MOU to the product
will be sent at your immediate response to this request will be high
appreciate.
NB: Only Official Buyers / Buyers Mandate are to respond.
Best regards,
LLC"RAKURS",
Dugieva rosa mustafovna .
WhatsApp +7 965 345 3833
Skype ID - live:.cid587bf2a71781f6cd
Email: dugievallc-rakurs@mail.ru
DIRECTOR / CEO.
4:37 yeah no one can tell those lines apart WSJ. Fix that
This doesn't really explain why prices have fallen all over the world. Also gas is switching to much more efficient CC plants. but one way or another, renewable energy is going to kill fossil fuel.
*laughs in New Yorker*
We get corrupt overregulated utility that charges 17c per kilowatt hour.
So why are my bills still high?!
The energy companies have no competition so they take it as profit
@@samuelthornton9179 I thought we lived in the age of capitalism and competition.
@@peteradaniel have you heard of monopolies?
Bro, what happen in 1885????
My power bill now is higher than ever!!!! Someone is filling there pockets with our money!!!!!!!!!! 350.00 per month!!!!!!
Brenda Harrelson Perhaps it's time Americans stopped using more energy per person than any other nation on earth! I have no sympathy with people who complain about their power bills but who live in woefully inefficient homes such as the typical American house. If your house was insulated to European standards you could cut your heating / cooling bill by two thirds. I bet you have a hot fill dishwasher and a top load washing machine? Switch to a European cold fil, self heating dishwasher and a front load washer (not a "high efficiency" top load) and save more. You probably have filament light bulbs everywhere? Switch to LED. $350 would cover my electricity and gas bill for six months, and I don't compromise on any of my creature comforts.
*cries in Australia*
Dear Sir / Madam,
LLC"RAKURS" hereby with full legal Authorization wish to inform
you on the Refinery vessel loaded with D2, LCO, EN590 10PPM on high
sea.
We need serious Buyer for the products, Official MOU to the product
will be sent at your immediate response to this request will be high
appreciate.
NB: Only Official Buyers / Buyers Mandate are to respond.
Best regards,
LLC"RAKURS",
Dugieva rosa mustafovna .
WhatsApp +7 965 345 3833
Skype ID - live:.cid587bf2a71781f6cd
Email: dugievallc-rakurs@mail.ru
DIRECTOR / CEO.
SHORT JUNK BOND !!!!!!!
With a fresnel lense energy is FREE
What? Renewables are cheaper than the MARGINAL costs of fossil fuels. TODAY, NOW. Well below total fossil fuel costs virtually globally, even with the current record lows of Ng and oil, driven solely by temporary depressed demand.
In the us*
Need more batteries.
Nuclear power plants would make it even cheaper
Maybe this cheap energy prices will help poorer countries to rise and help people out of poverty
why do they still insist on lying about wind and solar.
Let's keep likes at 888
Hahahahaha. Not sure where you are living. But I haven't seen a drop in price in over 30 years.
Such irony to look back at this totally irrelevant report...
in Mars maybe
Try telling this to the australians.
Laughs in Philippine electric bill
Time to mine some cryptocurrencies?
Fossil fuels are only "cheap" because they don't account for the negative externalities of their destruction.
This didn't age well