Tag Archives: oil and gas

Which HBCU/PBI State Is Winning At Renewable Energy Production?

Posted on March 18, 2024 by | Leave a comment

It is no secret that the world is moving towards a stronger reliance on renewable energy*, but there is a swath of the country that is moving extremely slow to embrace it. That swath is dominated by HBCU/PBI states who still dominantly prefer a traditional energy mix. The move towards renewable energy though is inevitable. This is both for environmental and economic reasons. To the latter, there is a massive investment and entrepreneurship opportunity available to HBCUpreneurs who want to help grow and cultivate the space in their respective states. American Association of Blacks In Energy (AABE) President Ralph Cleveland shared the following thoughts, “We will not meet the demands of energy transformation and climate change without Black institutions. This partnership reinforces the critical role HBCUs play in shaping the face of energy talent, development, and design. Not only do we need to create pathways to the C-Suite but we also need to activate our rich networks for a more inclusive energy ecosystem.” While we agree HBCUs need to create pathways to the C-Suite, we also believe the easiest and most economically empowering path there is to have HBCUs and HBCUpreneurs be the vanguard in creating renewable energy startups as highlighted in The Green Program’s ”19 Black Leaders on the Forefront of Clean Energy’ article. The power in energy like everything else is ultimately in the ownership.

HBCU Money took data from Yale Climate Connections and drilled down to the states that have HBCUs and PBIs located in them to see how the states where African America and its institutions are and will be impacted by the current energy mix in their state and also to highlight the opportunities that lay ahead as well. “Important note: The map shows electricity production within each state’s borders. Many states and utility companies exchange electricity with other states. So this data may not reflect the energy that is actually consumed — as opposed to generated — within each state.”

Why is nuclear not considered a renewable? National Grid states, “Nuclear fuels, such as the element uranium, are not considered renewable as they are a finite material mined from the ground and can only be found in certain locations.”

HIGHLIGHTS:

  • The average HBCU/PBI state has renewable energy of 12% average and 9% median, respectively.
  • Wind supplies the highest average renewable energy at 5% overall and hydropower supplies the highest median energy at 3% overall.
  • Oklahoma, the overall leader, is also the leader in wind energy with 41% of its energy coming from wind.
  • New York is the hydropower leader among HBCU/PBI states with 23% of its energy mix coming from water.
  • California is the solar power leader among HBCU/PBI states with 19% of its energy mix coming from the sun.
  • Only 6 of the 23 states have a double digit renewable energy source in their energy mix. Oklahoma, California, New York, Texas, Tennessee, Illinois.

OKLAHOMA

Renewable Electricity Generation: 44%

Renewable Rank Among All 50 States: 10th

Coal: 14%

Fossil Gas: 42%

Nuclear: 0%

Hydro: 3%

Wind: 41%

Solar: 0%

CALIFORNIA

Renewable Electricity Generation: 36%

Renewable Rank Among All 50 States: 13th

Coal: 0%

Fossil Gas: 47%

Nuclear: 9%

Hydro: 8%

Wind: 8%

Solar: 19%

NEW YORK

Renewable Electricity Generation: 28%

Renewable Rank Among All 50 States 16TH

Coal: 0%

Fossil Gas: 45%

Nuclear: 25%

Hydro: 23%

Wind: 3%

Solar: 1%

TEXAS

Renewable Electricity Generation: 26%

Renewable Rank Among All 50 States: 18th

Coal: 20%

Fossil Gas: 44%

Nuclear: 9%

Hydro: 0%

Wind: 23%

Solar: 3%

MASSACHUSETTS

Renewable Electricity Generation: 15%

Renewable Rank Among All 50 States: 22ND

Coal: 0%

Fossil Gas: 76%

Nuclear: 0%

Hydro: 6%

Wind: 1%

Solar: 8%

TENNESSEE

Renewable Electricity Generation: 15%

Renewable Rank Among All 50 States: 23RD

Coal: 23%

Fossil Gas: 16%

Nuclear: 46%

Hydro: 14%

Wind: 0%

Solar: 0%

NORTH CAROLINA

Renewable Electricity Generation: 13%

Renewable Rank Among All 50 States: 26th

Coal: 16%

Fossil Gas: 37%

Nuclear: 34%

Hydro: 5%

Wind: 0%

Solar: 8%

ILLINOIS

Renewable Electricity Generation: 11%

Renewable Rank Among All 50 States: 28TH

Coal: 23%

Fossil Gas: 11%

Nuclear: 54%

Hydro: 0%

Wind: 11%

Solar: 0%

INDIANA

Renewable Electricity Generation: 10%

Renewable Rank Among All 50 States: 30TH

Coal: 61%

Fossil Gas: 29%

Nuclear: 0%

Hydro: 0%

Wind: 9%

Solar: 1%

ALABAMA

Renewable Electricity Generation: 9%

Renewable Rank Among All 50 States: 32ND   

Coal: 20%

Fossil Gas: 38%

Nuclear: 33%

Hydro: 8%

Wind: 0%

Solar: 0%

MARYLAND

Renewable Electricity Generation: 9%

Renewable Rank Among All 50 States: 33RD  

Coal: 14%

Fossil Gas: 36%

Nuclear: 40%

Hydro: 6%

Wind: 1%

Solar: 2%

MICHIGAN

Renewable Electricity Generation: 8%

Renewable Rank Among All 50 States: 34TH  

Coal: 33%

Fossil Gas: 26%

Nuclear: 30%

Hydro: 1%

Wind: 7%

Solar: 0%

ARKANSAS

Renewable Electricity Generation: 7%

Renewable Rank Among All 50 States: 35TH  

Coal: 36%

Fossil Gas: 34%

Nuclear: 23%

Hydro: 7%

Wind: 0%

Solar: 1%

GEORGIA

Renewable Electricity Generation: 7%

Renewable Rank Among All 50 States: 36TH  

Coal: 16%

Fossil Gas: 47%

Nuclear: 29%

Hydro: 3%

Wind: 0%

Solar: 0%

KENTUCKY

Renewable Electricity Generation: 7%

Renewable Rank Among All 50 States: 37th  

Coal: 72%

Fossil Gas: 21%

Nuclear: 0%

Hydro: 7%

Wind: 0%

Solar: 0%

VIRGINIA

Renewable Electricity Generation: 5%

Renewable Rank Among All 50 States: 39TH  

Coal: 3%

Fossil Gas: 58%

Nuclear: 31%

Hydro: 1%

Wind: 0%

Solar: 4%

SOUTH CAROLINA

Renewable Electricity Generation: 5%

Renewable Rank Among All 50 States: 40th  

Coal: 16%

Fossil Gas: 24%

Nuclear: 56%

Hydro: 3%

Wind: 0%

Solar: 2%

FLORIDA

Renewable Electricity Generation: 4%

Renewable Rank Among All 50 States: 43RD   

Coal: 8%

Fossil Gas: 75%

Nuclear: 12%

Hydro: 0%

Wind: 0%

Solar: 4%

LOUISIANA

Renewable Electricity Generation: 2%

Renewable Rank Among All 50 States: 47TH   

Coal: 11%

Fossil Gas: 57%

Nuclear: 24%

Hydro: 2%

Wind: 0%

Solar: 0%

DELAWARE

Renewable Electricity Generation: 2%

Renewable Rank Among All 50 States: 49TH   

Coal: 8%

Fossil Gas: 88%

Nuclear: 0%

Hydro: 0%

Wind: 0%

Solar: 2%

MISSISSIPPI

Renewable Electricity Generation: 1%

Renewable Rank Among All 50 States: 50TH   

Coal: 8%

Fossil Gas: 73%

Nuclear: 18%

Hydro: 0%

Wind: 0%

Solar: 1%

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HBCU Money™ Business Book Feature -The First Billion Is the Hardest: Reflections on a Life of Comebacks and America’s Energy Future

Posted on June 29, 2014 by | Leave a comment

The-First-Billion-Is-the-Hardest-T-Boone-Pickens-abridged-compact-discs-Random-House-Audiobooks

With a Plan for Reducing U.S. Oil Dependency

It’s never too late to top your personal best.

Now eighty years old, T. Boone Pickens is a legendary figure in the business world. Known as the “Oracle of Oil” because of his uncanny ability to predict the direction of fuel prices, he built Mesa Petroleum, one of the largest independent oil companies in the United States, from a $2,500 investment. In the 1980s, Pickens became a household name when he executed a series of unsolicited buyout bids for undervalued oil companies, in the process reinventing the notion of shareholders’ rights. Even his failures were successful in that they forced risk-averse managers to reconsider the way they did business.

When Pickens left Mesa at age sixty-eight after a spectacular downward spiral in the company’s profits, many counted him out. Indeed, what followed for him was a painful divorce, clinical depression, a temporary inability to predict the movement of energy prices, and the loss of 90 percent of his investing capital. But Pickens was far from out.

From that personal and professional nadir, Pickens staged one of the most impressive comebacks in the industry, turning his investment fund’s remaining $3 million into $8 billion in profit in just a few years. That made him, at age seventy-seven, the world’s second-highest-paid hedge fund manager. But he wasn’t done yet. Today, Pickens is making some of the world’s most colossal energy bets. If he has his way, most of America’s cars will eventually run on natural gas, and vast swaths of the nation’s prairie land will become places where wind can be harnessed for power generation. Currently no less bold than he was decades ago when he single-handedly transformed America’s oil industry, Pickens is staking billions on the conviction that he knows what’s coming. In this book, he spells out that future in detail, not only presenting a comprehensive plan for American energy independence but also providing a fascinating glimpse into key resources such as water—yet another area where he is putting billions on the line.

From a businessman who is extraordinarily humble yet is considered one of the world’s most visionary, The First Billion Is the Hardest is both a riveting account of a life spent pulling off improbable triumphs and a report back from the front of the global energy and natural-resource wars—of vital interest to anyone who has a stake in America’s future.

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