POWER Magazine Quotes Steve Davis on EIA Report on Coal-To-Gas Switching

Akin Gump corporate partner Stephen Davis has been quoted in the POWER magazine article “EIA Details Impact of Coal-to-Gas Switching.” The article looks at a report by the Energy Information Administration showing that U.S. utilities over the past decade have been moving away from coal-fired power generation.

According to POWER magazine, the move has partly been driven by new generation from renewable resources, such as wind and solar power. The coal-to-gas switch, the article says, was also spurred by consistently lower prices for natural gas as well as by tougher emissions regulations.

For his part, Davis said he doesn’t think the natural gas industry “is going away anytime soon,” despite predicting that renewable resources will eventually produce more electricity than gas-fired generation. “I have an optimistic view of the future, and of the fossil fuel industry,” Davis continued. “I think the fossil fuel industry has a great capacity for [helping developing countries]. When you look at the continued realization that burning coal is difficult, you know that there are people who want to move to something cleaner, and that’s natural gas or renewables.”