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Author Topic: Fossil Fuel Profits Getting Eaten Alive by Renewable Energy!  (Read 5317 times)

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AGelbert

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    • Agelbert Truth AND Consequences
Dec. 27, 2018 8:28 AM ET

For The Permian, It's Not 2016 - And That's Bad News For U.S. Shale   

► The recent sell-off in oil is hard to explain with logic.

For US shale producers , this sell-off is not like 2016 and the capital markets won't be so friendly this time around.


Parsley Energy 🦖, one of the worst abusers of outspending cash flow, is reducing capex and growth targets, a sign of the times to come.

Mark Papa's Centennial Resources 🦕 scrapped the idea of reaching 65k barrels of oil per day of production by 2020 and is now focusing on balance sheet.

Private equity has led the stupendous growth in shale this year and the pullback in oil is striking fears in all of the investors in private equity firms.  

https://seekingalpha.com/article/4230339-permian-2016-bad-news-u-s-shale

Agelbert NOTE: What "energy experts" like the guy above cannot seem to grasp, in their zeal to bean count barrels produced of polluting crap hydrocarbons versus profits to sell polluting crap hydrocarbons, is the FACT that HYDROCARBON DEMAND DESTRUCTION from the use of RENEWABLE ENERGY TECHNOLOGIES is a larger contributing factor to tanking hydrocarbon prices than the current global economic distress.

All these Hydrocarbon Hellspawn Subsidy (visible AND invisible=banker sweetheart deals and Chapter 11 bankruptcy "legal reorganization" stiffing of creditors to emerge as Dracula "going concerns" again  🤬) Welfare Queens would disappear in a bankruptcy heartbeat if the corrupted government giveaways would be eliminated.


 The Fossil Fuelers 🦖 DID THE Clean Energy  Inventions suppressing, Climate Trashing, human health depleting CRIME,   but since they have ALWAYS BEEN liars and conscience free crooks 🦀, they are trying to AVOID   DOING THE TIME or   PAYING THE FINE!     Don't let them get away with it! Pass it on!   
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

AGelbert

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    • Agelbert Truth AND Consequences
CleanTechnica
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Battery & Offshore Wind Costs Plummet, Threaten Oil & Gas 

March 28th, 2019 by Joshua S Hill

The Levelized Cost of Electricity of lithium-ion batteries and offshore wind have plummeted in the last year, according to new figures from research company Bloomberg New Energy Finance.

The Levelized Cost of Electricity (LCoE) measures the all-in expensive of producing a megawatt-hour (MWh) of electricity from a new project, and accounts for the costs of development, construction and equipment, financing, feedstock, operation, and maintenance. It is a helpful, if not entirely comprehensive, measure of the energy wars being played out between old fossil fuel generation sources like coal and gas and new renewable technologies like wind and solar, supported by other energy technologies like batteries.

Bloomberg New Energy Finance’s (BNEF) regular LCoE reports are, thus, a handy guide for determining the pace of the war and the lay of the land, especially as we move more fully into a new year. And this latest report is big news for supporters of renewable energy technologies, as BNEF shows that the LCoE of lithium-ion batteries and offshore wind have fallen dramatically in the past year. Specifically, the benchmark LCoE for lithium-ion batteries dropped 35% to $187/MWh while offshore the benchmark LCoE for offshore wind fell by 24% to just below $100/MWh.


Onshore wind and solar PV have both also seen their prices fall, though at less dramatic yearly declines, with benchmarks of $50/MWh and $57/MWh respectively (for projects starting construction in early 2019), yearly drops of 10% and 18%.

“Looking back over this decade, there have been staggering improvements in the cost-competitiveness of these low-carbon options, thanks to technology innovation, economies of scale, stiff price competition and manufacturing experience,” said Elena Giannakopoulou, head of energy economics at BNEF. “Our analysis shows that the LCOE per megawatt-hour for onshore wind, solar PV and offshore wind have fallen by 49%, 84% and 56% respectively since 2010. That for lithium-ion battery storage has dropped by 76% since 2012, based on recent project costs and historical battery pack prices.”

So, while it was good news across the board for renewable energy technologies, the highlight was the dramatic price decline for lithium-ion batteries which, when co-located with solar or wind projects, are starting to compete — in many markets, and without subsidy — with coal- and gas-fired generation projects for the provision of “dispatchable power” (power which can be delivered whenever and as necessary).

“Solar PV and onshore wind have won the race to be the cheapest sources of new ‘bulk generation’ in most countries, but the encroachment of clean technologies is now going well beyond that, threatening the balancing role that gas-fired plant operators, in particular, have been hoping to play,” explained Tifenn Brandily, energy economics analyst at BNEF.

It’s also heartening to see the continual decline in offshore wind costs, and what was once seen as an expensive generation technology is benefiting from the same economies of scale which have supported the solar and onshore wind industries, with benchmark LCoE falling to below $100/MWh as compared to $220/MWh just five years ago.


“The low prices promised by offshore wind tenders throughout Europe are now materializing, with several high-profile projects reaching financial close in recent months,” said Giannakopoulou. “Its cost decline in the last six months is the sharpest we have seen for any technology.”

https://cleantechnica.com/2019/03/28/battery-offshore-wind-costs-plummet-threaten-oil-gas/
Leges         Sine    Moribus     Vanae   
Faith,
if it has not works, is dead, being alone.

 

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