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The Global Oil Crisis Seems to Be Helping One Industry: Renewable Energy

The New York Times · May 6, 2026

The New York Times features Halcyon Chief Strategy Officer Nat Bullard in its coverage of a new IRENA report finding that solar and wind paired with battery storage now deliver round-the-clock electricity at lower costs than fossil fuels in prime resource regions. Bullard tells the Times that even as the economics decisively shift, cost competitiveness isn't the whole story: major wind and solar projects take years to come online, some sectors like aviation and cement lack ready alternatives to fossil fuels, and many countries lack the money for "a wholesale switch to their electricity system."