The Energy Thread

[Green Monstah]

The idea that there's this massive, untapped hydrocarbon resource in the US that is not being exploited by the sheer force of Biden's will is somewhat laughable. The best part of the Permian has no federal oversight (there are some good resources in NM, however that will need to b communitized with federal minerals). Removing federal leases from auction has minimal impact on domestic oil production for years.

Most Bakken operators are sitting on dozens of approved drilling permits.

I'm not saying Biden policy has no effect on domestic oil production, but it's just not a matter of snapping one's fingers to alleviate supply crunch.

[Uncle Ted]

What does it take for Biden to turn the spigot on? Still cleaner than Iran, Venezuela or Russia. Does no one realize that Global Warming is well, global?

And getting oil via a pipeline would be cleaner than shipping it by rail from Canada… but would Warren Buffet still donate to Joe’s re-election campaign if he allowed the keystone pipeline to be built?

[falafel]

What spigot?

I think your people call it a "hose pipe."

[Moliere]

What does it take for Biden to turn the spigot on? Still cleaner than Iran, Venezuela or Russia. Does no one realize that Global Warming is well, global?

What spigot?

[Katy Lied]

What does it take for Biden to turn the spigot on? Still cleaner than Iran, Venezuela or Russia. Does no one realize that Global Warming is well, global?

[Uncle Ted]

Biden Seeks to Block New Offshore Drilling in Atlantic, Pacific - WSJ



Just as the Big Oil CEOs said in their letters back to Biden, a clear and consistent energy policy would go a long way to more stable energy prices. Biden seems absolutely intent on speaking out of both sides of his mouth, which is why his polling numbers are horrendous.

You should be happy about this...

JPMorgan Sees ‘Stratospheric’ $380 Oil on Worst-Case Russian Cut

Global oil prices could reach a “stratospheric” $380 a barrel if US and European penalties prompt Russia to inflict retaliatory crude-output cuts, JPMorgan Chase & Co. analysts warned.

The Group of Seven nations are hammering out a complicated mechanism to cap the price fetched by Russian oil in a bid to tighten the screws on Vladimir Putin’s war machine in Ukraine. But given Moscow’s robust fiscal position, the nation can afford to slash daily crude production by 5 million barrels without excessively damaging the economy, JPMorgan analysts including Natasha Kaneva wrote in a note to clients.

For much of the rest of the world, however, the results could be disastrous. A 3 million-barrel cut to daily supplies would push benchmark London crude prices to $190, while the worst-case scenario of 5 million could mean “stratospheric” $380 crude, the analysts wrote.
[....]

https://www.bloomberg.com/news/artic...se-russian-cut

[Moliere]

Biden Seeks to Block New Offshore Drilling in Atlantic, Pacific - WSJ

But the plan is still being developed, and gives the administration several options—including one that would forgo new lease sales entirely, according to the Interior Department. Ultimately a final decision is months away.

Environmental groups blasted the plan and said they would push for the option with no new leasing. Some voiced concern the administration was backing away from President Biden’s pledge as a candidate to block new drilling on federal territory.

Just as the Big Oil CEOs said in their letters back to Biden, a clear and consistent energy policy would go a long way to more stable energy prices. Biden seems absolutely intent on speaking out of both sides of his mouth, which is why his polling numbers are horrendous.

[Moliere]

Germany is bringing back good ole coal power...


https://www.cnn.com/2022/06/19/energ...ntl/index.html

But at least it is shutting down its nuke power.

Let me guess... Germany gets it coal from North Korea.

Germany is a textbook example of stupidity when it comes to energy policy. They are now paying the price.

[Uncle Ted]

Germany is bringing back good ole coal power...

Germany to fire up coal stations as Russia squeezes gas supply

Germany must reduce natural gas consumption and increase the burning of coal in order to help fill gas storage facilities for next winter, German Economy Minister Robert Habeck announced Sunday as the country moves away from reduced Russian gas supplies.

“The situation is serious,” Habeck said in a statement. “We are therefore continuing to strengthen precautions and taking additional measures to reduce gas consumption. This means that gas consumption must fall further, but more gas must be put into the storage facilities, otherwise things will really get tight in winter.”
[...]

https://www.cnn.com/2022/06/19/energ...ntl/index.html

But at least it is shutting down its nuke power.

Let me guess... Germany gets it coal from North Korea.

[Uncle Ted]

New England is literally burning oil to produce electricity. In fact, over the weekend 25% of their power came from burning oil. Who burns oil for power? What is this, the 1960s?

I also learned this year that we are literally importing LNG into New England. That’s crazy since right nest door to them is one of the largest gas fields in the world but they won’t allow pipelines to be built, so the bring it in on a boat. This mind blowing asinine stuff.

Many big banks are predicting $100+ oil this coming summer. I sincerely hope it doesn’t get there but I think it will. Usually when we get to $100 the world comes crashing down due to high cost of energy. However, oil companies can’t drill enough to keep up so I’m afraid we will get there and it might get ugly.

Texas should just mine Bitcoin with all its surplus NG and wind power out in west Texas.

[Moliere]

Thank the progressives...


https://michaelshellenberger.substac...ergy-expensive

LOL... Dems are a bunch energy dumbasses. God bless Texas for cheap NG.

New England is literally burning oil to produce electricity. In fact, over the weekend 25% of their power came from burning oil. Who burns oil for power? What is this, the 1960s?

I also learned this year that we are literally importing LNG into New England. That’s crazy since right nest door to them is one of the largest gas fields in the world but they won’t allow pipelines to be built, so the bring it in on a boat. This mind blowing asinine stuff.

Many big banks are predicting $100+ oil this coming summer. I sincerely hope it doesn’t get there but I think it will. Usually when we get to $100 the world comes crashing down due to high cost of energy. However, oil companies can’t drill enough to keep up so I’m afraid we will get there and it might get ugly.

[Uncle Ted]

LNG prices are currently around $35/MMbtu. By contracts, I pay around $4/MMbtu for natural gas delivered to my home. It's absolutely nuts that people are paying 10x more for gas in some places in the world.

Thank the progressives...

Why Democrats Make Energy Expensive (And Dirty)
Progressives say they care more about working people and climate change than Republicans and moderate Democrats. Why, then, do they advocate policies that make energy expensive and dirty?

Progressive Democrats including Sen. Bernie Sanders and Rep. Pramila Jayapal, the head of the House progressive caucus, have sent a letter demanding the Federal Energy Regulatory Commission (FERC) investigate whether “market manipulation” is causing natural gas prices to rise 30 percent on average for consumers over last winter, an astonishing $746 per household.

But the main reason natural gas prices are rising is because progressives have been so successfully in restricting natural gas production. Sanders, Jayapal, and Rep. Alexandria Ocasio-Cortez (AOC), as individuals and as part of the Congressional Progressive Caucus, have successful fought to restrict natural gas production through fracking and to block natural gas pipelines, including the Atlantic Coast pipeline.

In 2020, Sanders celebrated efforts by progressives to cancel the Atlantic Coast pipeline. Today, New England is facing rolling blackouts. “Getting [natural] gas to [progressive Senators Ed] Markey and [Elizabeth] Warren’s Massachusetts is so difficult,” reports The Wall Street Journal, “that sometimes it comes into Boston Harbor on a tanker from Russia.”
[...]
Successful shareholder activism, known in the industry as “ESG” for environmental, social, and governance issues, resulted in less investment in oil and gas production, and more weather-dependent renewables, which result in higher prices everywhere they are deployed at scale. Even ESG champions including Financial Times, Goldman Sachs, and Bloomberg all now acknowledge that it was climate activist shareholder efforts that restricted oil and gas investment.

Such efforts also directly led to increasing carbon emissions. Last year saw a whopping 17 percent increase in coal-fired electricity, which resulted in a six percent increase in greenhouse gas emissions. It was the first annual increase in coal use since 2014. The reason for it was because of the scarcity and higher price of natural gas, coal’s direct replacement, not just in the U.S. but globally, since the US exports a significant quantity of natural gas.

The other reason the U.S. used more coal in 2021 is because progressive Democrats are shutting down nuclear plants. “When a nuclear plant is closed, it’s closed forever,” noted Mark Nelson of Radiant Energy Group, an energy analytics firm, “whereas coal plants can afford to operate at relatively low levels of capacity, like just 30 to 50 percent operation, and thus wait for natural gas prices, and thus demand for coal power, to rise.”

Progressives like Sanders, Jayapal, and AOC claim to care more about poor people, working people, and climate change than either Republicans or moderate Democrats, who they defeat in Democratic primary elections. Why, then, do they advocate policies that make energy expensive and dirty?

A big part of the reason progressives make energy expensive appears to be that they just don’t know very much about energy. The fact that they are demanding that FERC investigate higher prices suggests they want to keep energy prices low. But it could also mean that their letter is just public relations cover so they are not blamed for raising energy prices.
[...]

https://michaelshellenberger.substac...ergy-expensive

LOL... Dems are a bunch energy dumbasses. God bless Texas for cheap NG.

[Moliere]

LNG prices are currently around $35/MMbtu. By contracts, I pay around $4/MMbtu for natural gas delivered to my home. It's absolutely nuts that people are paying 10x more for gas in some places in the world.

[Green Monstah]

Maybe. But a lot of people just bet a lot of money that they can make it happen.

https://oilprice.com/Alternative-Ene...sion-Boom.html

Maybe the reason fusion has always stayed fifteen years away is that we've never undertaken the fifteen-year journey of work, progress, and expense necessary to achieve it. Why would we, when it is still so much cheaper to turn a turbine by burning fossil fuel?

But as that option becomes increasingly unfeasible, and the need for a carbon-neutral base generating option becomes increasingly great, maybe-- just maybe-- we will finally do what it takes to accomplish it.

This is akin to the argument I make to my e-vehicle antagonists at work. Yep, it's got some kinks, but it's the future, so we ought not to push back so hard on this. Especially when natural gas almost certainly will have a place in power generation for the next 50-100 years.

[Uncle Ted]

Fusion is always 15 years away.

The state of Utah just needs to fund another cold fusion institute.

Almost from day one, scientists criticized University of Utah officials for allegedly pushing Pons and Fleischmann into a news conference. Some say the scientific peer review was rushed because of worries about patent rights and fears that a BYU scientist would publish something similar first.

https://www.ksl.com/article/29184874...mdash-and-died

LOL... Blame it on BYU and Drumpf