U.S. Power Market Fundamentally Resilient to Iran War Oil Price Surge, LS Power CEO Says on Friday

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According to LS Power LLC CEO Paul Siegel on Friday (July 17), the U.S. power market is "fundamentally resilient" to higher global oil prices driven by the Iran conflict. Siegel noted that the United States no longer relies on oil as a primary fuel for power generation, instead depending primarily on natural gas. Abundant shale oil and gas production has kept natural gas prices relatively stable throughout 2026, he added.
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