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Author Topic: Fossil Fuel Profits Getting Eaten Alive by Renewable Energy!  (Read 3581 times)

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AGelbert

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European Utility Shareholders Lost Half A Trillion Euro In Five Years                


Says this article (without byline) at the Economist. I found it because if this Retweet by Danny Kennedy.

As the article explains, the 20 biggest power companies in Europe had a collective value of $1 trillion at their peak in 2008, and they are worth “only” $500 billion now. And Germany’s biggest utility E-On has managed to beat that trend by declining a full three quarters in value.


The article blames this development partly on renewable energy.
They are right, of course. 

With much more renewable energy in the mix, the days of guaranteed profit from fossil fuel and nuclear are gone.



E-On could have saved themselves a lot of this trouble if they had invested aggressively in renewable energy in Germany themselves. That investment came (and still comes) with a guaranteed profit for twenty years. That would have accelerated their problems with their existing fossil fuel and nuclear capacity. But the transition to renewable will happen anyway. Delaying it will always be a negative strategy helping only for a short-time period (which is a couple of decades, when discussing energy).


The most interesting part of this article was:

Some utilities have got into the renewables business themselves. Drax, which used to be Britain’s largest coal-fired power station, is being converted to run on wood pellets. Other utilities are big investors in offshore wind power.

That’s interesting because it shows the way ahead with existing fossil fuel plants. There is nothing wrong with running a coal plant, if you run it either on wood pellets (the first time I heard someone doing that), or on synthetic coal made from modern biomass, as Suncoal wants to do. There’s nothing wrong with running a gas plant if you fire hydrogen that has been produced from excessive solar or wind energy.

Under the present German Law on the Priority for Renewable Energy, it is not possible to run most of the coal power plants because under Article 27 of the law, feed-in tariffs are paid only for very small capacity plants. That should change. These existing coal plants need to move to biomass eventually anyway. Why not have it happen faster?

Read more at http://cleantechnica.com/2013/10/15/european-utility-shareholders-lost-half-trillion-euro-five-years/#jdDvcUswRuV8J1vF.99
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AGelbert

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A $250 million Green Bond has been issued to institutional investors by the European Bank for Reconstruction and Development.

 
SustainableBusiness.com News

Targeted at socially responsible investors that support environmentally sustainable projects, 14 investors bought shares: 51% from the US, 31% from Europe and 18% from Asia. The majority are pension funds (64%).

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AGelbert

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Fossil Fuels Face the Prospect of $30T in Losses
 


Assessing the combined impact of climate policy, pollution controls and the declining cost of renewables   
 


RenewEconomy, Giles Parkinson
April 29, 2014

http://www.greentechmedia.com/articles/read/fossil-fuels-face-30-trllion-losses-from-climate-renewables?
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Unitarians Go Fossil Fuel Free With Divestment Resolution 

http://ecowatch.com/2014/06/30/unitarians-fossil-fuel-free-divestment/
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Quote
Keith Rowley   
July 4, 2014 

Don't be deceived, the utility companies know they are on a "death spiral" and that DG and Photovoltaics is a "disruptive technology". They just want to own all the money themselves, hence, Monopoly.

An alternate to the Lithium batteries, Ultra-Capacitors using Graphine or some other technology have over 1 Million charge-discharge cycles, extremely rapid charge cycle, significantly cheaper and less toxic than almost everything out there. They are a good choice and have great promise.
An efficient house can be built. My house is Net-Zero and I am doing all I can for the environment, national security, local grid stability, and helping the local economy.

Let us all keep going to promote this infant technology that helps in so many ways. Remember, you will never hear of a national environmental disaster because we used too much solar power!. Keith Rowley
 

http://www.renewableenergyworld.com/rea/news/article/2014/07/arizona-utilities-are-not-supporting-a-solar-friendly-policy#comment-133144
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AGelbert

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Fossil Fuel Divestment Sweeps Through Religious Community

SustainableBusiness.com News


With the World Council of Churches decision to divest from fossil fuels, a huge percentage of humanity is closing the door on the past.

 The organization - a fellowship of 300 churches - represents some 590 million people in 150 countries, and is calling on its members and other religious institutions to join them. In the past, they took a stance against nuclear energy.

 "The general ethical guidelines for investment already include concern for a sustainable environment, for future generations and CO2 footprint. Adding fossil fuels to the list of sectors where we do not invest serves to strengthen the governing body's commitment on climate change as expressed in various sessions of the Central Committee," says Guillermo Kerber, who coordinates their work on care for creation and climate justice.

Divest World Council of Churches


Divestment is catching on among religious leaders across the world. Other recent divestment decisions are: Unitarian Universalist General Assembly (US), United Church of Christ (US), University of Dayton (Ohio) -  the first Catholic institution to divest - Union Theological Seminary (New York City), the Church of Sweden and Quakers (UK). Regional Lutheran, Quaker, and Episcopal denominations have joined the effort in the US, and the Anglican Church is leading the way in New Zealand and Australia, with many local dioceses and the entire Anglican Church of Aotearoa, New Zealand and Polynesia committing to divestment.

The Vatican held a 5-day summit, Sustainable Humanity, Sustainable Nature: Our Responsibility. 


"The World Council of Churches may be the most important commitment we've received yet," says Tim Ratcliffe, 350.org's European Divestment Coordinator. "It opens the doors for churchgoers around the world to encourage their institutions to live up to their values and divest from companies that are destroying the planet and our future."

In September, the World Council will join religious and spiritual leaders from around the world at the Religions for the Earth conference in New York City:

 
Website: www.cvent.com/events/religions-for-the-earth/event-summary-acce9de322684b8db91a98466c4f6da9.aspx


http://www.sustainablebusiness.com/index.cfm/go/news.display/id/25808







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AGelbert

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The Next Revolution: Discarding Dangerous Fossil Fuel Accounting Practices

 Alex Nicolson, Contributor 
 October 23, 2014 

The green revolution and, in particular, renewable energy products such as solar power, wind turbines, geothermal and algae-based fuels are not waiting for viable technology — it already exists in many forms.    What they are waiting for is a massive sea change in our antiquated financial accounting systems.   


We keep hearing that green technology has too long a payback or too low an internal rate of return and just can’t compete with non-renewable coal, oil and natural gas, etc. 


Now to be fair, renewables have two drawbacks that have to be considered in their use and integration into the power grid. The first is their low capacity factors. For example, wind farm turbines sit idle when the wind stops blowing, and solar power output drops sharply when the sun is not shining. On the other hand, non-renewable energy systems can operate 24 hours a day without interruption, so they will be used for some time to come as more dependable baseload power sources.

The second factor is evident when we compare installation and operating costs. Renewable installations spend 80 percent of their budget in the first year and 20 percent over their 20- or 30-year operating life. Non-renewables are the opposite; only 20 percent is spent on the initial installation and 80 percent on the next 20 or 30 years of operation. And so our antiquated and myopic accounting practices analyse these facts and then say that coal, oil and gas plants obviously have a better return on investment. 

Of course as we run out of non-renewables, their power production will slowly dwindle. We should be prepared for that inevitable event by building up renewable energy options and developing technologies now. The book “Last hours of Ancient Sunlight” by Thom Hartman covers that inevitability very well.
AGREED

The Costs of Oil   >:(

We complain about $4+ per gallon gasoline, but people do not realize that we would likely pay over $10 a gallon if we add on the currently ignored direct social and economic costs of oil.

Economists recognize the existence of these costs and call them “externalities.” Other than this recognition, externalities are still not assigned to their correct sources.

As just one example, consider the enormous U.S. military budget, (currently a staggering  $700 billion). A large portion of this cost is spent on the 800+ military stations maintained around the world that protect critical sea lanes for oil tankers and oil pipelines  >:( and act on a moment’s notice to attack any politically motivated disruptions to foreign oil field production or oil storage sites. A significant portion of that budget is a direct cost of oil.

And to that cost figure, we have to add the social costs of young soldiers being trained, deployed and killed, severely injured or handicapped for the rest of their lives. Then we must also consider the enormous stress this imposes on these soldier’s families and friends, both economically and emotionally. That is another direct cost of oil.

And on another front, consider the enormous costs of the oil spill in the Gulf and its effect on the ocean, wildlife and beach environments. Consider the effect on people’s health and livelihood and the stress they were under during hurricane seasons that threatened a resurgence of oil and toxic dispersant sludge to be thrown up on their shores. That is another cost of oil.

Consider poor mountain people in Afghanistan that are killed and injured due to drone attacks against Al Qaeda. Their injuries and deaths are simply written off as collateral damage, when the truth is that the U.S. is in that poor mountain region mainly due to the huge oil and gas fields located in southern Russia. These sources will eventually need a pipeline to transport the crude oil to a warm-water all-season coastal port where tankers can pick up and transport the oil to markets in the West.

The coal industry has similar externalized costs. Apart from carbon dioxide emissions, mercury and other heavy metals, coal-burning power plants emit over 100 times the radioactivity of nuclear plants producing the same amount of energy. These emissions cause inevitable negative health effects as it is exhausted into the atmosphere and carried to those people living downwind. In fact, annual deaths due to coal plant emissions are estimated at about 60,000 people in the U.S. alone, according to various concerned citizen groups.

Also the huge amounts of foreign aid paid to protect dictatorial regimes against the wishes of the people under their control are all direct costs of oil. Incidentally we see these regimes are starting to fail in the Middle East, due to their younger generation’s frustrations with a static society that has been kept backward and out of step with the modern world just to suit the oil interests.

And closer to home, a typical oil company’s income statement reveals enormous tax breaks, such as depletion allowances from taxes for using up a non-renewable resource, which make no economic or social sense.

And in more recent times, oil companies can drill in federal waters without paying any royalties. To date taxpayers currently subsidize the oil industry by as much as $4.8 billion a year — an industry that shows record profits for owners and shareholders.

And in the U.S., many states that are under the oil companies’ economic/political lobbying control do not charge them for exploitation of these non-renewable resources. These resources are state-owned assets, and the oil companies acquire them at a very low cost.

Renewables Make Sense


Solar, wind, tidal and geothermal energy do not need these massive hidden support costs. They cannot be stolen by any super-power and are unlikely to be the source of dragged out wars and intrigue between nations under the sham of spreading democracy, which happens now over oil.

The sun is boundless, and in most mid- and southern-latitude countries, a surprisingly small surface area of solar plants can deliver most of the electricity a country needs. This is particularly true here in the U.S.

Accounting Reform

So taking all these factors into account, accounting practices must enter the 21st century, adapt to a global economy and account for ALL of the real costs of each energy resource as they are incurred worldwide. These numbers will reveal the most viable energy resource technologies.

This will require a sea change in accounting. Accounting principles and practice are still stuck in the industrial revolution where we witnessed horrendous costs to the environment and to workers. All these enormous social costs were externalized and thrown onto the back of the society. Companies were measured on profitability within incredibly narrow accounting standards. Often the most polluting, child-exploiting companies were deemed the most efficient and profitable and given the most support.

Admittedly there has been many improvements over the past 150 years as we can see with child labor laws enforced and many companies in the US and other developed countries are being asked to clean up their dangerous emissions and remove toxins from their workplaces and are starting to do so.

However we need to further expand our accounting horizons to a world-view and take that same approach to a global scale, especially when comparing renewable energy technologies and demand that the comparison be based on their real costs.

If we can achieve that vision, then the correct decisions for support of green renewable energy will become abundantly clear — and the world will be a safer and cleaner place for us all. 


http://www.renewableenergyworld.com/rea/news/article/2014/10/the-next-revolution-discarding-dangerous-fossil-fuel-accounting-practices#comment-136353

Agelbert Comment:
What Brian Donovan said!


I have sometimes wondered at the term energy RESOURCE used by the media (and everybody else) to describe fossil fuels. It seems to me that they should be referred to as a SOURCE of energy, not a RE-source; you use fossil fuels once, period. They can't be re-used. All renewable energy is, on the other hand, a genuine energy REsource.

I believe our vocabulary is corrupted. Fossil fuels should be called energy sources, not energy resources. But then the cat would be really out of the bag for the fossil fuel polluters, wouldn't it?   ;D

When the math actually gets done to include costs to society and the biosphere. renewable energy is the obvious choice. In fact, when all is said and done , the issue is what works indefinitely. Just like running an internal combustion engine in your garage "works" if you don't care about living, burning fossil fuels on a planetary scale "works" if you don't care about life.

This is not hard. Either we have an equitable, do ALL the math. society that respects, not just fellow humans, but the biosphere we and hundreds of thousands of other species of earthlings require for life, or we perish.

See one minute clip on Natural Capitalism:
http://viewrz.com/video/real-money

Fossil fuel Government 2 minute Video Clip from "The Age of Stupid" Video:
http://viewrz.com/video/fossil-fuel-government

FDR two minute clip on Trickle Down "Economics"
http://viewrz.com/video/fdr-on-trickle-down-economics
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Except for Hallitosis Corporation, the following activity for today is MUSIC to my ears. 

Halliburton Company  HAL  53.79  +0.56 (1.05%)  46.82B
Schlumberger Limited.  SLB  94.85  -2.58 (-2.65%)  124.86B 
Exxon Mobil Corporation  XOM  94.66  -0.72 (-0.75%)  403.34B 
Kinder Morgan Inc  KMI  38.38  -0.15 (-0.39%)  39.44B 
Chevron Corporation  CVX  116.45  -1.20 (-1.02%)  220.89B


       ANYTHING that gives the fossil fuelers in general, AND MKING in particular  ;D, a headache makes my day.

Schlumberger N.V. (SLB): The BIG OIL Planet Polluter you never heard of...
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DOE Loan Guarantee Program Vilified by Republicans Turns a Profit   ;D

 Justin Doom, Bloomberg 
 November 13, 2014  |  7 Comments 

NEW YORK -- The U.S. expects to earn $5 billion to $6 billion from a federal loan program, bolstering President Barack Obama’s decision to back low-carbon technologies.

It’s the first time the Energy Department has released an estimate of the potential gains for the loan guarantee program, designed to back clean-energy projects when venture capital or financing from banks and other investors is unavailable. The department expects a loss rate of about 2 percent on $32.4 billion set aside for loans to spur energy innovation, according to a report today.

The loan program, which opened in 2009, was targeted by Congressional Republicans who charged taxpayer money was wasted on startups including Solyndra, the solar manufacturer that closed its doors in 2011 after receiving $528 million. Jonathan Silver resigned as director in 2011 after repeated congressional inquires.

“People make a big deal about Solyndra and everything, but there’s a lot of VC capital that got torched right alongside the DOE capital,” Michael Morosi, an analyst at Brentwood, Tennessee-based Jetstream Capital LLC, which invests in renewable energy, said in an interview. “A positive return over 20 years in cleantech? That’s not a bad outcome.”

The program’s biggest success story has been Tesla Motors Inc. The Elon Musk-backed electric carmaker paid back its $465 million federal loan nine years early. Abengoa SA, which received a $132.4 million guarantee, opened in October a biofuels plant in Kansas.

The successes didn’t stop Republican representatives John Shimkus of Illinois, California’s Darrell Issa, and Fred Upton of Michigan who focused on the program’s failures in a series of hearings on Capitol Hill.   


Taxpayer Risk
 

“I’m obviously glad to hear that DOE doesn’t expect to lose money on its post-Solyndra loans,” Shimkus said today in an e-mailed statement. “That said, we can’t forget that no matter how positive today’s projections may be, billions of taxpayer dollars are still at risk.”  ::)

A spokesman for Issa didn’t immediately respond to phone and e-mail messages seeking comment.  ;)

Congresswoman Marsha Blackburn, a Tennessee Republican, said that while the loan program may be well intended, “what we have seen is incredible mismanagement, and it’s become the poster child for crony capitalism.”  (AGELBERT NOTE: See Orwell for translation.  ;D)

Blackburn said she’d prefer a tax-credit-based incentive system to loans or grants.

Last Resort

The $5 billion to $6 billion figure was calculated based on the average rates and expected returns of funds dispersed so far, paid back over 20 to 25 years. Applicants view the Energy Department as a lender of last resort, according to Peter Davidson, the program’s director.

“When these project developers took their projects to conventional financing sources, those lenders said, ‘Sorry, there’s too much risk here,’” Davidson said in a phone interview. “That’s the gap that we’ve filled.”

The department didn’t disclose terms for investments in specific companies and declined to estimate how much the rest of its portfolio may earn.

“There’s no picking winners and losers — we’re just open for business and people apply,” Davidson said.

Four Failures


The failure of four companies has cost about $780 million. Solyndra burned through $528 million of a $535 million loan guarantee before filing a bankruptcy plan approved in October 2012. The California-based solar manufacturer went bust pursuing an alternate photovoltaic technology that became too expensive as panel prices plunged worldwide.

The electric carmaker Fisker Automotive Inc. filed for bankruptcy in November 2013. Abound Solar Inc. and Vehicle Production Group LLC failed in 2012.

Considering the whole portfolio of projects, a $5 billion return to taxpayers exceeds profits from many venture capital and private equity investments in clean energy, Morosi said.

The department is weighing applications for nuclear  :P , energy efficiency and advanced fuels projects.

The program was the only source of funding for some developers after financial markets crashed in 2008, said Joe Aldy, who worked in the White House as a special assistant to the president for energy and environment from 2009 to 2010.

“The people in the VC world who made a lot of money with IT and Internet companies — they made their money on the EBays and the Googles and the Facebooks,” Aldy said. “They lost money on a lot of other things.”

Copyright 2014 Bloomberg

http://www.renewableenergyworld.com/rea/news/article/2014/11/doe-loan-guarantee-program-vilified-by-republicans-turns-a-profit

Agelbert NOTE: Of course, the "INVESTMENT" (i.e. dirty energy welfare queen  annual give away) these SAME Republicans support is NEVER mentioned...

 

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AGelbert

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OPEC Oil Price Squeeze To Leave Renewable Energy Unscathed   

 Reed Landberg, Bloomberg 
 December 03, 2014  |  1 Comments 

Lima, Peru — While OPEC is helping drive down global prices for crude, it’s having less success squeezing the $250 billion clean power industry.

Green energy will receive almost 60 percent of the $5 trillion expected to be invested in new power plants over the next decade, according to the International Energy Agency. That’s because the U.S., China, Japan and the European Union are all pushing for global limits on greenhouse gases and promoting alternatives to fossil fuels.

The effort has resulted in local and national incentive policies for renewable power around the world, effectively insulating the industry from market fluctuations such as the almost 40 percent plunge in crude oil since June. So while drillers clamp down on spending, developers are on track to invest more than $250 billion this year on wind, solar, geothermal and other types of renewable power, the first gains in two years, according to data compiled by Bloomberg.

“Renewables are supported by policies, and that is not something that will be amended quickly just because oil prices fall  ;D,” Takashi Hongo, a senior fellow at Mitsui Global Strategic Studies Institute, which advises the Japanese government on energy policy, said in an interview in Tokyo. “There will be hardly any impact.”

‘Massive’ Impact

Of course, the longer oil remains at its current level, the more likely that the subsidies will be called into question. In China, for example, government support has made the country the biggest market for wind and solar power.

“If oil stays at current prices or weakens through the first half of next year, the impact on new energy would be massive,” said Lin Boqiang, director of the Energy Economics Research Center at Xiamen University, speaking of the situation in China. “Weakening oil prices would hamper the competitiveness of new energy. The government has to subsidize the new energy industry to support its development.”

Oil prices reached a five-year low yesterday, after OPEC, the Organization of Petroleum Exporting Countries, opted last week not to lower production targets.

As envoys from more than 190 nations meet in Peru for a round of United Nations-organized negotiations to step up the fight against global warming, there was no sign of waning political support for curbing emissions.

‘Low-Carbon Future’

“We’re all old enough to know that oil prices go up and down,” said Christiana Figueres, executive secretary of the United Nations Framework Convention on Climate Change, which organizes the talks. “The fact that oil is so unpredictable    is one of the reasons why we must move to renewable energy, which has a completely predictable cost of zero for fuel.”

In Washington, the State Department official who speaks for President Barack Obama on climate, said a “low-carbon future” is essential for the U.S. and that the policy won’t be revised due to oil prices.

So far, declining oil prices haven’t affected what countries say they are willing to do, said Todd Stern, the U.S. envoy who will join the talks in Peru next week.

“The need from the point of view of climate, health and energy security all point toward the imperative for transforming our economies from high to low carbon,” Stern said in an interview in Washington. “That transformation is the solution side of climate change.”

In Brussels, the IEA, which was formed to advise industrial nations on energy policy after the first oil shock in 1973, said governments must remain focused on cutting carbon dioxide emissions blamed for damaging the climate.

Global Power


“What is important is not to be lulled into a false sense of security,” Maria van der Hoeven, the executive director of the IEA, said at a briefing in Brussels. “Fossil fuels will be a very important part of our energy supply. It’s important not to be too obsessed with lower oil prices.”  ;)

Renewables remain a tiny fraction of the world’s power supply, accounting for about 5 percent of the electricity generated, according to the most recent data from the IEA. That’s up from 1 percent in 1990. Current policies put it on track to reach 12 percent by 2040.

Investment in clean energy is growing rapidly. The industry took in $175 billion in the first nine months of this year, according to Bloomberg New Energy Finance. About $2.95 trillion may be invested by 2040 compared with $1.49 trillion for fossil- fuel power plants, the IEA estimates.

Japan Investments


In Japan, where the government introduced an incentive program in 2012 following the Fukushima nuclear disaster, investment in solar energy more than tripled to $29.6 billion in 2013 from 2010 levels, data from London-based BNEF show.

“Japan doesn’t use a lot of oil in its power generation, so it doesn’t make a lot of difference,” said Andrew DeWit, a professor in the School of Policy Studies at Rikkyo University in Tokyo. “The short answer is that it’s probably not going to have a huge hit on Japan’s renewables.”

Japan, though the world’s largest importer of liquefied natural gas, relies on oil for 19 percent of its electricity generation, according to BNEF data. The nation could be on course this year to surpass China as the world’s largest solar market as measured by annual capacity installations.

“The oil price doesn’t affect electricity generation that much,” Lyndon Rive, chief executive officer of SolarCity Corp., said in an interview with Bloomberg Television. “Even with all- time-low natural gas prices, the cost of energy has gone up. You have transmission and distribution and infrastructure you have to pay for. It’s aging and getting old and requires constant upgrades.”

Market Forces

Beyond political support, renewables are isolated from market forces by the structure of the electricity industry.

Most governments support clean energy either by offering feed-in tariffs -- fixed prices for power fed into the grid -- or by holding auctions to buy a certain amount of generating capacity. Once set, those contracts can’t be revised, meaning renewable power plants in operation now will probably continue to do so for years to come.

Jurisdictions buy renewables both to reduce pollution and as a hedge against rising costs for other fuels. Since wind and solar don’t require fuel, their costs can be charted for decades, offering stability that oil, gas and coal can’t provide.

“There is absolutely no guarantee that oil prices will continue at this level,” said Taro Saito, director of economic research at the NLI Research Institute in Tokyo. “So of course from the point of view of those who are pushing renewable energy, there is no reason to suddenly give up.”

Cheaper oil doesn’t have a straightforward impact on the political debate, said Alden Meyer, who follows climate policy for Washington-based Union of Concerned Scientists, said in an interview in Lima.

“It lessens the argument that there are going to be huge costs in the transition to cleaner energy,” Meyer said. “We’re actually starting into that transition, and it has reduced costs.”
    http://Copyright 2014 Bloomberg


1 Comments

A. G. Gelbert   
 December 3, 2014 

Yep. This skullduggery worked in the 1980's. It's NOT going to strangle Renewable Energy NOW for the sake of Profit Over Planet, war profiteering and price shock control of our energy spigot through the purchase of politicians this time.

We-the-people of planet earth understand 'how it works' for the dirty energy industries now. The more the fossil fuelers dissemble to us, threaten and/or bribe politicians to continue the unsustainable and polluting status quo, the more determined we-the-people will be to destroy the demand for dirty energy and hasten the demise of those biosphere killing fossil and nuclear fuels.

Watch this one minute clip to learn why Natural Capitalism is the only REAL Capitalism. Modern so-called "Capitalism" (i.e. Crapitalism!) actually SHRINKS, DEGRADES and DESTROYS Capital!

http://viewrz.com/video/real-money

Go ahead, dirty energy producing criminals, make our day.
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AGelbert

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In its latest report released Wednesday, OPEC also reduced its global demand forecast to 28.9 million barrels per day, the lowest since 2002. Increased US production and decreased demand    have been cited as the culprits for crude's rapid decline over the last several months. 


I LOVE the smell of DEMAND DESTRUCTION for fossil fuels!  ;D


Read more: http://www.businessinsider.com/oil-prices-drop-december-10-2014-12#ixzz3LZS06Fa3


Renewable energy=                                 =Fossil Fuelers
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

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The Schlumberger Walking DEAD
« Reply #12 on: December 17, 2014, 09:47:30 pm »
The Schlumberger Walking DEAD: They've already lost 10 billion from their 110 billion market cap in less than a year.  Watch as this 100 billion dollar polluting beast (stock symbol SLB) turns into NADA in the next THREE YEARS. Enjoy the ride, worshipers of fracking.



Quote


Schlumberger N.V. (Schlumberger), incorporated on November 6, 1956, is the supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company’s segments include Reservoir Characterization Group, which consists of the principal technologies involved in finding and defining hydrocarbon deposits; Drilling Group, which consists of the principal technologies involved in the drilling and positioning of oil and gas wells, and Production Group consists of the principal technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services, Completions, Artificial Lift, Well Intervention, Subsea, Water Services, Carbon Services and the Schlumberger Production Management field production projects.



Reservoir Characterization Group


Reservoir Characterization Group consists of the principal Technologies involved in finding and defining hydrocarbon resources. These include WesternGeco, Wireline, Testing Services, Schlumberger Information Solutions and PetroTechnical Services. WesternGeco is the geophysical services company, providing worldwide reservoir imaging, monitoring and development services. WesternGeco offers the industry’s multiclient data library. Wireline provides the information necessary to evaluate subsurface formation rocks and fluids to plan and monitor well construction, and to monitor and evaluate well production. Wireline offers both openhole and cased-hole services, including wireline perforating.

Testing Services provides exploration and production pressure and flow-rate measurement services both at the surface and downhole. The Technology also provides tubing-conveyed perforating services. Schlumberger Information Solutions provides software, consulting, information management and information technology (IT) infrastructure services that support core oil and gas industry operational processes. Schlumberger Information Solutions provides software, consulting, information management and IT infrastructure services that support core oil and gas industry operational processes. PetroTechnical Services supplies interpretation and integration of all exploration and production data types, as well as expert consulting services for reservoir characterization, field development planning production enhancement and multi-disciplinary reservoir and production solutions. PetroTechnical Services also provides industry petrotechnical training solutions.


Drilling Group


Drilling Group consists of the principal Technologies involved in the drilling and positioning of oil and gas wells and consists of Bits & Advanced Technologies, M-I SWACO, Geoservices, Drilling & Measurements, PathFinder, Drilling Tools & Remedial Services, Dynamic Pressure Management and Integrated Project Management well construction projects. Bits & Advanced Technologies designs, manufactures and markets roller cone and fixed cutter drill bits for all environments. The drill bits include designs for market segments where faster penetration rates. The technologies leverage modeling and simulation software for the design of application-specific bits and cutting structures.


M-I SWACO is the supplier of drilling fluid systems engineered to improve drilling performance by anticipating fluids-related problems, fluid systems and specialty equipment designed to optimize wellbore productivity and production technology solutions formulated to maximize production rates.    The Technology also includes environmental solutions   that safely manage waste volumes generated in both drilling and production operations. Geoservices supplies mud logging services for geological and drilling surveillance. Drilling & Measurements and PathFinder provide directional-drilling, measurement-while-drilling and logging-while-drilling services for all well profiles, as well as engineering support. Drilling Tools & Remedial provides a range of bottom hole assembly drilling tools, borehole enlargement technologies and impact tools, as well as a collection of tubulars and tubular services for oil and gas drilling operations. Dynamic Pressure Management consolidates managed pressure drilling and underbalanced drilling into a single provider of engineered solutions for pressure drilling services.


Production Group


Production Group consists of the principal Technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services, Completions, Artificial Lift, Well Intervention, Subsea, Water Services, Carbon Services and Schlumberger Production Management field production projects. Well Services provides services used during oil and gas well drilling and completion as well as those used to maintain optimal production throughout the life of a well. The services include pressure pumping, well cementing and stimulation operations as well as intervention activities.   
Completions supplies well completion services and equipment that include packers, safety valves, sand control technology as well as a range of intelligent   ;)well completions technology and equipment. Artificial Lift provides production equipment and optimization services using electrical submersible pumps and gas lift equipment, as well as surface horizontal pumping systems.


Well Intervention develops coiled tubing equipment and services and provides slickline services for downhole mechanical well intervention, reservoir monitoring and downhole data acquisition. Subsea offers solutions that are designed to improve reservoir recovery optimize production and maximize production uptime of subsea assets. Water Services specializes in the development, management and environmental protection of water resources. Carbon Services provides geological storage solutions, including storage site characterization for carbon dioxide

My advice to anybody that owns stock in this Polluting PIG is to SELL or you will lose your arse.  ;D

El Que No Oye Consejo, No Llega a Viejo.

The translation is this: He who does not listen to advice does not make it to old age. (it rhymes in Spanish!)   ;D
« Last Edit: December 18, 2014, 08:23:27 pm by AGelbert »
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if it has not works, is dead, being alone.

AGelbert

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6 Reasons 2015 Will Be a Tough Year for Big Oil


Hannah McKinnon, Oil Change International

Things don’t seem to be getting any easier for Big Oil and I am going to venture a guess that 2015 is going to be their toughest year yet.

Here are a few of the hurdles that are only going to grow for the industry over the coming year:

Science

You can ignore the science, resist the science or support politics that doesn’t believe in science, but you can’t change the science. 2014 captured the title of hottest year on record, marking the 38th consecutive year that global temperatures have been above average. California is still grappling with the impacts of the biggest drought in memory, and “once in a century” storms, floods, fires and droughts have become a joke as they hit with increasing frequency.

Big Oil can’t change the fact that their product is driving dangerous climate change, nor the fact that if the world is going to avoid the worst of it, the majority of fossil fuels that we know exist are going to have to stay underground. The science is definitive and decision makers are running out of ways to avoid taking it seriously.

People


People get it. More than 400,000 of them came to the biggest climate march in history in New York in September with tens of thousands more joining marches in hundreds of cities around the world. Across North America, people are stopping tar sands pipelines. There is not a single major tar sands pipeline that is not threatened by public opposition on the continent, and these delays are making a dent in pollution and are a material risk to fossil fuel expansion.

Driving and inspiring much of this opposition is resistance from people on the front lines of climate change and fossil fuel extraction: First Nations in Alberta standing up to the tar sands, landowners in Nebraska saying no to the inevitable risks of Keystone XL, and vulnerable and impacted communities globally refusing to let climate impacts go unnoticed. This movement is growing by the minute.

Economics

Even before the precipitous fall of oil prices in late 2014, fossil fuel projects were being cancelled in places like the tar sands and the Arctic Ocean. It is quite simply not great economics to bet the farm on high cost, high risk, and high carbon projects. Even with oil prices more than $100 per barrel in early 2014, three major tar sands projects were mothballed due to uncertain economics (driven in large part by public concern and transportation constraints).

Now, with oil prices a shadow of what they were kicking off 2014, analysts say at least $59 billion dollars of capital is on the brink of deferral in the tar sands over the coming 3 years, with the potential of knocking off 650,000 barrels of oil per day. Bad news for big oil, great news for the climate. Countries and regions that made the high risk bet to balance their budgets based on high oil prices are scrambling, and everyone is absorbing the harsh reminder that oil prices are unstable, unpredictable, and uncertain.

The concepts of stranded assets and unburnable carbon gained even more traction over the past year, with the Governor of the Bank of England saying in no uncertain terms that the majority of fossil fuel reserves are unburnable. This echoed messages from the likes of the International Energy Agency and the World Bank—not exactly environmental activists. The mainstream economic chatter is changing.

On top of this are the people-powered movements calling for divestment from fossil fuels. These campaigns are moving billions; not enough to topple the industry, but enough to command attention and prove that this conversation has the moral magnitude of other historic successful divestment campaigns.

Politics


Admittedly, this is the slow moving beast. The perpetual challenge is getting politics and politicians to look beyond terms and think about the well being of anything more than 4 or 8 years down the road. Especially when this means turning their backs on the fossil fuel lobby, which has been pouring money into keeping friendly politicians in power for decades.

That said—all hope is not lost. President Obama has made some inspiring and ambitious remarks on climate, and with a final Keystone XL decision sitting on his desk, recent statements suggest he is poised to make the right call, change the status quo, and reject the pipeline. The climate deal between China and the U.S. is also promising and shifted the global political discussions in a meaningful way. Across the continent, politicians are feeling the heat on their inaction on climate change. In Canada, heading into an election year, poll-leading opposition leaders are starting to backtrack on previous support for major tar sands infrastructure.

The message is starting to penetrate: A failure to act on climate change will have political costs.

Competition


Renewables are putting a squeeze on fossil fuels. Solar energy had some spectacular breakthroughs in 2014 and the growth in solar capacity in the first three quarters of last year represented 36 percent of new electricity capacity in the U.S. (compared to 9.6 percent in 2012). In Germany, solar generated half of the country’s electricity on one day in June, setting both records and precedent for what we can expect from the rapidly improving and increasingly affordable technology.

Other leaps have been made in the sector, with wind and electrification of transport. Low oil prices are an obvious risk to renewables, especially in a world where fossil fuels continue to receive unnecessary subsidies and renewables are forced to play on an uneven playing field (it is high time to Stop Funding Fossils by the way). However, Bloomberg has done some number crunching that suggests that we should not assume that demand for oil would soar with the price drop and analysts are saying that energy markets today are markedly evolved and renewables will hold their own.

Paris

In late 2015, Paris will host the climate talks, the meeting where global leaders are supposed to hammer out the next big deal. While we are not holding our breath for leaders to rise to the occasion in any spectacular way, one thing we are certain about is that they are going to feel the heat.

Let’s make 2015 the year that puts an end once and for all to the myth that fossil fuels are an inevitable centerpiece of our future. The real inevitability is an era where Big Oil is no longer the status quo, and where we build our communities, economies and lives around energy that that is safe, reliable and clean.

http://ecowatch.com/2015/01/05/tough-year-for-big-oil/

     
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Faith,
if it has not works, is dead, being alone.

AGelbert

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Schlumberger Limited. (NYSE:SLB) was downgraded by equities researchers at Societe Generale from a “buy” rating to a “hold” rating in a research report issued on Tuesday, TheFlyOnTheWall.com reports.

http://tickerreport.com/banking-finance/379811/schlumberger-limited-stock-rating-lowered-by-societe-generale/

July 3, 2014
closing stock price $117.50  (2014 PEAK SLB closely matches oil price high for 2014).

SLB  has a Mkt cap of 126.44B  and operates in 80 countries. SLB has EXTENSIVE gas drilling operations in the USA

January 7, 2015 81.36 Real-time: 3:32PM EST Mkt cap    104.21B      
 
   

SLB market cap drops a billion here and a billion there. Pretty soon we are talking about real MONEY (i.e FRACKER PAIN).

Calling all frackers (i.e. all those fine folks that are making ALTRUISTIC SACRIFICES FOR ALL OF US PIGGIES DEMANDING FOSSIL FUELS): SLB is a HUGE BUYING OPPORTUNITY! It's time for you to PROVE your loyalty to this SAFE, PRUDENT, LOGICAL, BRIDGE FUEL, AMERICAN ENERGY INDEPENDENCE PROVIDING technology! Dollar cost average! Mortgage your Volt! Sell your MOTHER! BUY!, BUY! BUY!


And by all means, ignore that Agelbert whacko's posts about Renewable Energy eating fossil fuel profits alive and his defamatory and thoroughly inaccurate predictions about SLB stock tanking. He doesn't understand the REAL WORLD and he DOESN'T DO THE MATH. Just ignore his rants and BUY, BUY, BUY!   

Watch as this 100 billion dollar polluting beast (stock symbol SLB) turns into NADA in the next THREE YEARS



El que no coje consejo, no llega a Viejo.  8)
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

 

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