Higher oil prices grab headlines because consumers see them every time they fill up. But electricity is quietly becoming the scarcer resource.
According to a recent Bloomberg report, U.S. data centers are on pace to consume nearly 20% of all electricity generated in the U.S. by 2035, up from approximately 5.9% today. That would represent more than a threefold increase in electricity demand over the next decade.
The result is that utilities are being forced to build generation capacity at a pace not seen in decades, while transmission infrastructure struggles to keep up.
This post originally appeared at 24/7 Wall St.