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Topic Summary

Posted by: AGelbert
« on: September 06, 2019, 04:28:40 pm »


Sep. 06, 2019

MP Pension's decision comes as asset managers across the world review their investments in oil and gas and coal companies at a time the world is struggling to limit the global average temperature rise to below 2 degrees Celsius above preindustrial times as agreed in Paris in 2015.

Posted by: AGelbert
« on: September 03, 2019, 03:54:43 pm »

This screenshot is quite good. We have known everything we needed to know for some years, and have just not cared. Somewhere in my reading today I came across the assertion that in order to make a difference, people in the developed world will have to live on one sixth of their current income/standard of living.

If you listen carefully, you can hear the collective "fat chance" from the wealthy, and
"You first" from the rest of us.

True that about the sentient termites (i.e. the ethically bankrupt = wealthy).

Please do not include me in the rest of us. I have publicly advocated for living with the power cut off from my house for 12 hours a day (not "you first", but all of us, including businesses, at once) in summer (AND winter) for well over a decade, for the purpose of reducing polluting energy use. Yeah, I have not actually hit the main power panel switch 12 hours a day (see: ALL of us together). I haven't turned it off at all. Still, my use is WAY BELOW what the average American wastrel considers "necessary". On top of that. Green Mountain Power is moving fast to 100% renewable energy. 

I have been frugal to a fault for at least 20 years. Though my "life style" may be considered too far above that of a slave in Africa to be "sustainable" by the hairsplitters (and hydrocarbon hellspawn out there, of course), I am 100% certain that if everyone on this planet had not bought any clothing, including shoes, for the last 12 years, gone without a water heater for the last four years (4 gallon "showers" - once a week or less frequent, period ;D), gone without a microwave oven for the last two years, driven less than 2000 miles a year for the last 13 years, despite saving 30% of my small pension a year, stayed OUT of the stock market in general (and hydrocarbon corporation stocks in particular), the biosphere would have a fighting chance AND the mammon worshippers would be a lot less popular and planet killing "prosperous" than they are now. I am not part of the Age of Stupid.

I learned of a bit of good news today. We take what we can. Reality is slowly (perhaps too slowly, but it's better than nothing), overcoming 🐵 Wall Street Hydrocarbon Hellspawn worship.

The article has some "supply and demand" BULLSHIT happy talk about "the abundance of fossil fuels out there now," as if this was a temporary thing. It's NOT. For proof of that, just look at a hydrocarbon stock I warned the fossil fueler MKing to drop about four years ago. I told him it was going to tank and WHY it was going to tank.

He laughed it off. I hope he kept lots of SLB (Schlumberger) stock in his portfolio.

SLB was around $86 a share when I issued the warning. It's been all downhill since then. This year the hill turned into a cliff.


Posted by: AGelbert
« on: July 12, 2019, 06:14:29 pm »

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July 12th, 2019 by Steve Hanley


70% of Africans do not have access to a conventional electrical grid, which is why distributed renewable energy from solar panels and wind turbines is the perfect way to connect them to the modern world. But that hasn’t stopped 🦕😈🦖 traditional energy companies from trying to drag Africa into the 21st century with 19th century technology if there’s a buck to be made.
Kenya coal fired plant endangers Lamu - Save Lamu logo

China is moving aggressively to slash carbon emissions at home, but it is only too happy to export them to other nations. It is offering to build coal-fired generating plants throughout southeast Asia, India, Pakistan, and Africa just as long as they are built by Chinese companies.

A court in Kenya has recently nixed a plan to build that country’s first coal facility — a 981 MW station backed by a Chinese-led consortium — after environmental activists sued Amu Power and the Kenyan National Environment Management Authority claiming they failed to carry out a rigorous environmental assessment and to inform local people of potential impacts, according to a report by The Guardian. They argued that the plant would have adverse effects on local fishermen and farmland. The court agreed.

Full article:
David Zarembka • 9 hours ago • edited
Another point is that the coal plant was supposed to sell its electricity for 7 cents per KWh, but an independent analysis indicated the cost would be closer to 70 cents per KWh. The government was also required to guarantee that the electricity would be bought by the power company and, if not, the company/government would be required to pay 85% of the cost of the undelivered power. This was a terrible deal no matter how you look at it. At the moment Kenya has an excess of electric power capacity and solar farms and more geothermal are coming on line. 👍👍👍

Steve Hanley > David Zarembka • 9 hours ago
Thank you for that local input, David. Sounds like the project developers were going to get a gold mine while Kenyans go the shaft.

David Zarembka > Steve Hanley • 8 hours ago
You are correct. But the Kenyan elite would have cashed in also.

Agelbert COMMENT: The Chinese seem to have a NIMBY problem. Someone should remind them that pollution cause and Catastrophic climate Change effect is unavoidable within a single planetary biosphere like ours.

It's real hard to grow crops on the 🌙 moon.

Posted by: AGelbert
« on: July 01, 2019, 02:07:25 pm »

By Kurt Cobb, originally published by Resource Insights

June 30, 2019


Contrary to the wildly optimistic projections of the U.S. 🦕🦖 Energy Information Administration of continuously growing natural gas supplies through 2040, natural gas production from shale gas wells then is likely to be only a fraction of what it is today.

That would imply a lot of worthless or at least devalued utility and petrochemical infrastructure and a lot of unhappy investors.

Understanding this outcome as likely does not require a paranormal ability to see the future. The evidence is right in front of us now in the balance sheets and income statements of the shale oil and gas companies of America. The industry’s financial condition is in shambles because it simply can’t make money with prices this low. It follows that we cannot reasonably expect investors to suffer continuous losses between now and mid-century in order to subsidize the utility and petrochemical industries with cheap natural gas.

Full article:

 The Hydrocarbon Hellspawn 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!   
Posted by: AGelbert
« on: June 23, 2019, 04:03:37 pm »

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The author’s EV and one of his PV systems

Electric Vehicles, Renewables, & The Changing World Dynamic

June 22nd, 2019 by Robert Dee

Electric Vehicles — Thinking People’s Cars

What’s the ROI (return on investment) for filling a gas car? None, zero! You pay from the moment you sign on the dotted line — engine repairs, routine maintenance, gas, gas, and gas. Did I mention gas? Automakers love you, auto dealers love you, repair shops love you, and the fossil fuel industry loves you. Why not? You’re constantly at their doors with your wallet open.

Many studies showing the cost of owning an electric vehicle (EV) as opposed to a fossil fuel vehicle (FFV) are distorted and biased toward FFVs, as we’ve simply been programmed to think from a FFV perspective. This is by design, just like the skillful manipulation that has people pulling up to the pump without thinking about what’s going on and how devastating it is to them and the environment. The technological advantages and power of EVs when combined with renewables should not be underestimated or overlooked when we compare different propulsion systems.

You can never drive a gas car for the cost of driving an EV. You will always be tethered to the pump, but you will always have the option of paying very little to nothing for the energy to drive an EV. An unfair comparison? When we list the benefits of driving both cars, automakers are quick to point out how fast a gas car can be refilled, so if that’s a benefit of gas cars then surely being able to charge an EV from your own power is a benefit of electric cars. Combining EVs and renewables forms a bond that gas cars can not compete with and as technology improves, as it has done and will keep on doing, this will only get better. As charging rates continue to go up, the line between filling a gas car and charging an EV will vanish, and we are already starting to seeing this.

The Hidden Costs of Owning Fossil Fuel Vehicles

I’ve written at length about the crippling pollution and cost of the ICE (internal combustion engine):

Full article:

Posted by: AGelbert
« on: June 13, 2019, 03:31:30 pm »

Make Nexus Hot News part of your morning: click here to subscribe.

June 13, 2019   

Posted by: AGelbert
« on: June 13, 2019, 12:27:25 pm »

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June 13th, 2019


Contrary to what the anti-EV alligators would have you believe, plug-in vehicles produce lower emissions than dinosaur-burners over their full life cycles. That advantage is steadily growing as more and more electricity generation comes from renewable sources. A recent report from the International Renewable Energy Agency (IRENA) found that costs for renewable energy technologies fell to a record low last year, and that cost reductions are poised to continue into the next decade.

In many parts of the world, renewable power is already the cheapest source of electricity. IRENA says that over 75% of wind and solar PV projects due to be commissioned next year will produce power at lower prices than the cheapest fossil fuel options, without government subsidies.

Full article:

Agelbert COMMENT: YES! The death knell of the Hydrocarbon Hellspawn from lack of gasoline (and diesel) sales is music to my ears.

Don't forget that MANY homes are no longer heating with kerosene or heating oil because of Renewable Energy based electric heat. The 'electricity is less efficient for heat' crowd ALWAYS neglects to mention hydrocarbon pollution in their MORONIC energy math.

Ignore the planet killer IDIOTS who don't want you to use electric heat. OR, just tell them that destroying the biosphere by burning hydrocarbons is REALLY inefficient!
Posted by: AGelbert
« on: June 08, 2019, 06:31:43 pm »

June 7, 2019 by Bloomberg

Agelbert NOTE: Expect more Trumpian saber rattling. The Hydrocarbon 🦕🦖 Hellspawn cannot make a profit at present oil prices. There is no way they can jack those prices up, considering the inventory is at a 30 YEAR HIGH (see: GLUT). A large increase in cheap Renewable Energy is partly responsible for the low oil price 👍😀. So, they need a war scare, or a war, to goose the price. If they keep this criminal insanity up, war will do us in before climate change does. 

Have a nice day.


Posted by: AGelbert
« on: March 29, 2019, 11:58:59 am »

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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.”

Posted by: AGelbert
« on: December 27, 2018, 11:58:53 am »

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.  


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!   
Posted by: AGelbert
« on: December 14, 2018, 09:10:55 pm »

There are a few levers of power that can shut down fossil fuel companies, one of which is to cut off their supply of money. And investors are starting to do just that in increasingly greater numbers.

1,000 Organizations Have Pulled Their Money Out of Fossil Fuels in Major Milestone
Brian Kahn

December 13, 2018 8:50am Filed to: BAD INVESTMENTS  ;D

Posted by: AGelbert
« on: December 13, 2018, 07:12:01 pm »

Agelbert NOTE: This is encouraging  ... That is, IF the Hydrocarbon Hellspawn 🐉🦕🦖 don't irreparably pollute the biosphere it happens.

Published on Dec 4, 2018 #Bigoil #EVs #NowYouKnow

The Impending Big Auto/Oil Implosion Explained | In Depth


Now You Know

On today's episode of "In Depth" Zac and Jesse talk about The Impending Big Auto/Oil Implosion! Please consider supporting us on Patreon. We have some pledge rewards you may be interested in, so go check that out. Now You Know! #Bigoil #EVs #NowYouKnow

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Category Science & Technology
Posted by: AGelbert
« on: December 07, 2018, 09:12:56 am »

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Coal Is On The Way Out — Natural Gas Is Next

December 3rd, 2018 by George Harvey

Shortly after reading Tina Casey’s CleanTechnica article, “New Report Outlines Investor Risk of Supporting Coal Power,” I found myself looking at the November edition of the EIA’s Monthly Energy Review. Of course, I found myself connecting the two.

As natural gas has taken market share from coal-powered electric generation, it has pushed emissions from coal down. But the EIA document shows that natural gas is emitting carbon dioxide at a record level, and, sadly, its own levels of emissions seem to be increasing faster than those of coal are dropping. As I looked at information on carbon dioxide emissions, I found myself wondering how long it will take for the natural gas industry to go into its own steep decline.

The answer to this question may be becoming clear, and rather quickly. There has been a series of developments in California that anyone interested should notice.

The underlying context is a general switch to renewable energy that has been going on there for many years. As wind and solar systems have been added to the system, prices for electricity from renewable systems have declined. They have pushed down wholesale power prices in the state, especially those of peak demand times, when prices have been highest.

As the cost of renewable power has declined, however, the cost of electricity from fossil fuel plants has held rather steady. As can be seen in Lazard’s Levelized Cost of Energy Analysis, Version 12.0[, the costs of renewably-sourced electricity have generally fallen so that they are often below those of coal-burning and gas-burning plants. And the fossil fuel plants have seen their profits disappear with more powerful competition.

Metcalf Energy Center (MEC) in California

Now we come to a specific example of unfolding events that is particularly revealing. In 2005, Calpine Corporation brought a new gas-burning combined-cycle plant online at the Metcalf Energy Center (MEC) in California. A brief history of the plant can be found at Wikipedia. As a combined-cycle plant, it was of the type that generally produces the least expensive power available from fossil fuels.

By 2017, the MEC was finding market conditions difficult. In June of that year, Calpine notified the California Independent System Operator that the plant would have to run on a reliability-must-run basis, or it would be shut down because it was losing money. Calpine🦕 wanted to keep the plant open and was requesting extra income, to be charged in the end to ratepayers. 😈 To do this, it would require a special license from the Federal Energy Regulatory Commission, to be renewed annually.

In November of 2017, the California Public Utility Commission (CPUC) authorized Pacific Gas and Electric (PG&E) to look for a less expensive source of electricity that could replace the MEC’s gas plant. Thereupon, PG&E made a procurement request for that electric power. And in the first weeks of last summer, PG&E announced that it had requested approval from the CPUC for a specific solution to reducing customer costs.

That solution included four battery systems, two of which would be much larger than the 100-MW / 127-MWh Hornsdale Power Reserve (HPR) in South Australia, currently the largest battery in the world. A posting of July 3 at Utility Dive said the total energy storage capacity of the project would be 2,270 MWh, almost eighteen times that of the HRP.

In November, the CPUC approved the battery system. It is expected to be the largest battery system in the world. 👀  An article at Commercial Property Executive details this.

While all of the four batteries are huge, the largest is just about mind-boggling all by itself. Vistra Energy is set to produce and own a battery of 300 MW / 1,200 MWh, three times the power capacity and nearly ten times the energy storage capacity of HPR. To this will be added a battery of 182.5 MW / 730 MWh, to be produced by Tesla but to be owned by PG&E. The smaller batteries are systems of 75 MW and 10 MW, whose specifications called for four hours of storage each.

What I find most interesting about this is not the record-setting sizes of the battery systems. It is that a relatively new fossil fuel plant, of a design that produces the least expensive electricity we can get from combustion, is being replaced by batteries, which do not generate electricity but just store it as it comes from the wind and sun. A gas plant is being put out of business by lithium-ion batteries, because the energy storage costs, combined with the cost of the electricity from solar and wind plants, are more attractive than the cost of the least expensive fossil fuels.  

The Utility Dive article cited above had a quote in it from Alex Eller, a senior energy research analyst at Navigant. He said, “Storage at this scale is likely now cheaper than the total cost to run the gas plants.” More natural gas plants may be coming online, but they look destined to be the next round of stranded assets.

We are not talking about some day in the future here. Renewables are pushing gas🦕 out already. 

Posted by: AGelbert
« on: December 06, 2018, 11:51:05 am »

Should We Cheer? ExxonMobil’s Renewable Energy Commitments Are In The News

December 6th, 2018 by Carolyn Fortuna

EXCELLENT article! In addition to to exposing what these fossil fuelers are up to now, it covers ALL the crooked=CAPITALIST Profit Over People and Planet Bases of the ExxonMobil mens rea modus operandi for the past SEVERAL DECADES:

Agelbert NOTE: Should we cheer?

The only upside to this use of Renewable Energy by the Hydrocarbon 🦕🦖 Hellspawn is that their argument, for the last century or so, that "Fossil Fuel sourced Energy is cheaper than Renewable Energy" is (and always was, by the way, but they did not admit it), KAPUT. 
Posted by: AGelbert
« on: November 23, 2018, 01:52:06 pm »

Who cooda node?  ::)


Oil meltdown deepens as crude crashes below $51

By Matt Egan, CNN Business

Updated 10:45 AM ET, Fri November 23, 2018

Posted by: AGelbert
« on: November 21, 2018, 08:45:51 pm »

Posted by: AGelbert
« on: November 18, 2018, 05:40:15 pm »

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The Doom Of Fossil Fuel Investments 

November 18th, 2018 by Guest Contributor

By Nathanael Nerode



• There is a very short window of time to get out of pure-play oil & gas company investments without substantial losses. It is imperative to sell them now.

• It is already too late to get out of pure-play coal company investments without substantial losses. But they will lose even more money going forward.

• Utility companies which have a heavy reliance on fossil fuels are also in trouble.
Diversified companies will lose money on their coal, oil, and gas portfolios, although this may not be significant enough to warrant getting out of a diversified company.

• It will remain possible to do short-term swing trading in coal, oil, and gas companies with no future, but this is inappropriately risky behavior for a conservative investor.

The Reasons

• Oil demand is mostly for cars & trucks and will be destroyed by ...

Full article:

Posted by: AGelbert
« on: October 08, 2018, 05:08:58 pm »

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Tesla’s Battery In South Australia Breaks Stranglehold Of Natural Gas Industry  

October 8th, 2018 by Kyle Field

The massive 129 kWh Tesla Powerpack installation in South Australia has already been having a strong impact on the region’s electricity markets, saving grid operator Neoen and customers an estimated $25 million, or just over ⅓ of the purchase price, in its first year of operation.  :o

As the regional grid continues to adjust to the impact of a new energy storage block of this size, we are already starting to see some of the side effects of the world’s largest lithium-ion grid-scale battery. Namely, the battery, called the Hornsdale Power Reserve, is putting the squeeze on natural gas peaker plants in the region.

Peaker plants are smaller natural gas–fired electricity generating units (EGUs) that are idled for the vast majority of their lives. For those rare periods when the grid needs a bit of extra juice to meet customer demand, the peakers are fired up. That’s all fine and good, but their intermittent nature makes peaker plants extremely inefficient to operate and extremely polluting, as the startup and shutdown segments of a ntural gas turbine’s operation (when the engine gets warmed up or idles down) are by far the dirtiest.

After watching the operation of the battery ⚡ 💫 closely for its first year in operation, the Australian Energy Market Operator (AEMO) informed operators in the regional energy market that it would be putting an end to “the three-year-old requirement for 35MW of local regulation frequency and ancillary services to be provided in South Australia when there was risk of the state’s grid separating from the rest of the national grid,” according to Renew Economy.   

“The operation of SA has changed significantly over the past 12 months,” AEMO shared in a written statement. “Synchronous unit requirements (for SA system strength) and the installation of the Hornsdale battery have ensured regulation FCAS is more readily available post-islanding of SA. Hence this requirement is no longer considered necessary.”

The major shift enacted by the large battery is that it removed the ability for natural gas–fired generation to game the market and took over that role itself.

The result of a competing on-demand electricity supplier entering the market was the immediate dilution of the tactics of the natural gas industry, which previously had a de facto monopoly on the local backup market. These gas companies almost entirely leveraged their control to ensure that the price of electricity rose to the market cap price of a staggering $14,000 per megawatt-hour whenever a call for backup power was made.

With the natural gas monopoly washed out, AEMO is realizing a much more stable market, as Tesla’s new battery installation responds to needs of the grid whenever more production is needed. This isn’t some do-gooder installation, but simply a response to a market that had been gamed to the point of making a business case for the world’s largest battery installation.

The good news … or the bad news, depending on how you look at it, is that these situations exist all over the world, to varying degrees. That is the lucrative new market Tesla is racing to gobble up, with battery production and procurement capacity as its sole constraint. Nearly all of Tesla’s batteries from Gigafactory 1 in Nevada went to the production of the Tesla Model 3, forcing the world’s largest battery producer to purchase even more batteries from external suppliers LG and Samsung for its larger energy storage products.

“Hornsdale has had a significant impact on the South Australia system,” Christian Schaefer, AEMO’s head of system capability shared, “and we have got new batteries coming on line with Victoria and South Australia.” While Tesla was the provider at Hornsdale, this improvement is not a Tesla thing — it’s a grid-scale battery thing and Tesla just happens to be the leader in the space.

Its Tesla Grid Controller, which was piloted at Tesla’s installation on the island of Samoa, pushes its Powerpack battery tech to the next level by adding another layer of intelligence that allows it to act as the brain for an entire island grid. This is achieved by more effectively and efficiently balancing energy generation — from solar, hydro, and traditional sources — as well as energy storage in the form of batteries and hydro with electrical demand from customers.

The electrical grid is the most complex machine humans have ever built, and watching grid-scale batteries flip these markets upside down in a matter of a few months while driving emissions down at the same time is both exhilarating and a bit nerve wracking. Thankfully, they’re paying out and proving themselves in increasingly larger installations around the world.

Source: Renew Economy


Posted by: AGelbert
« on: September 14, 2018, 10:57:17 am »

Senator Introduces Bill for New ‘Climate Choice’ TSP Investment Option

September 12, 2018 - By My Federal Retirement

Senator Jeff Merkley (D-OR) introduced a bill last week that would create a new option for federal employees to put their retirement savings in funds that are free from investment in fossil fuel companies.

The Retirement Investments for a Sustainable Economy (RISE) Act (S.3424) would create a “Climate Choice” stock option under the Thrift Savings Plan (TSP). While the TSP currently offers investors options for the amount and risk allocation of their TSP accounts, it does not offer federal employees control over the types of industries in which their money is invested.

“As climate chaos ramps up, all Americans deserve the option to divest from the fossil fuel industry,” said Merkley. “For the first time, this bill will give millions of federal employees the power to ensure their retirement funds are invested in a more sustainable, socially responsible investment portfolio.”

The RISE Act mandates a report within one year from the Government Accountability Office (GAO) examining the risk for investors from TSP holdings in fossil fuel companies 🐉🦕🦖 given policies to keep average global temperature increases to 2º Celsius. The RISE Act also directs the GAO to provide a divestment mechanism for the TSP should the report show risk to investors from fossil fuel🦕🦖👹 holdings.

A summary of the RISE Act is here (1-page PDF).


Agelbert NOTE: Do your part for God, country and future generations. Help bankrupt all biosphere degrading Hydrocarbon Hellspawn Corporations 🐉🦕🦖 today and every day thereafter. 

Posted by: AGelbert
« on: August 19, 2018, 06:02:19 pm »

Talk About “Losing Money” — US Shale Will Crash … Hard 🕵️

August 19th, 2018 by Guest Contributor

Originally published on EnergyPost.eu


With fracking about to recommence in the UK after 8 years, social entrepreneur and writer Jeremy Leggett reviews the short but troubled history of fracking in the US. In a devastating slide presentation, he pictures the shale gas industry as a dirty, multi-hundred-billion-dollar doomed-to-burst debt bubble. And he predicts a similar fiasco in the UK. Courtesy Future Today.

Excellent 114 slide history of fracking: 👍


Slide description:

History of oil and gas production from shale in pictures and charts: Why American shale is heading for a crash and fracking in the UK is doomed to costly failure

1. History of oil and gas production from shale in pictures and charts Why American shale is heading for a crash and fracking in the UK is doomed to costly failure Jeremy Leggett

2. Preface This is a presentation based on the Future Today chronology of selected developments in climate, energy, tech and the future of civilization: www.jeremyleggett.net The powerpoint version includes source urls as notes, and is available free for any use, by anybody, at https://drive.google.com/drive/folders/1pJlLMT57QZbUP0ZjWf5RMrexzDuanaC2 I know something about this subject not just because of my fear of climate change and passion for the energy transition, but from the research work I did for more than a decade in my first career….

3. A paper in the Journal of The Geological Society analyses widespread shale rocks in the UK 7th Jan 2016 Apr 1980 I researched shale and related rocks while on the faculty at Imperial College (1978 – 1989), funded among others by BP and Shell.

4. At first pass, the reversal of US gas and oil production after fracking of shale began in earnest around 2007-8 looks like a modern industrial miracle

5. 7th Jan 2016 2015 Fracking of shale from c. 2006 pushes US gas production steeply up after 5 years of decline Trillioncubicfeet Source: EIA Annual Energy Outlook 2016 US dry natural gas production by resource type

6. 1940: 6 in 7 barrels used by Allies in WW2 come from the US 1950: Car use and oil imports soar Nov 1970 Peak 1977 Alaska comes onstream 2008: Fracking in shale 2014 Price collapse …recovery 7th Jan 2016 31st Jan 2018 Fracking of shale from 2008 pushes US oil production above 10 mbd: heights last seen in 1970 millionbarrelsperday

7. 7th Jan 2016 2011 This “game changer” for oil & gas triggers euphoria, including in the political, media and analyst worlds

8. Tar sands US shale oil Conventional crude oil Global crude oil production 2005–2014 2005 2007 2009 2011 2013 80,000 68,000 70,000 72,000 74,000 76,000 78,000 66,000 64,000 62,000 60,000 Thousandbarrelsperday Source:IEA US shale is propping up global crude oil production, and has derailed / deferred fears of a supply peak 7th Jan 20162014

9. But meanwhile there are some inconvenient truths concerning the economics

10. The US shale oil and gas business hasn’t funded itself at any oil price in any year since the beginning 7th Jan 2016 27th Dec 2017 Even at $100 oil prices in 2012 and 2013, the 33 companies spent more money producing shale energy than they made from operations. 33 shale-weighted E&P companies in the 4 main shale oil plays: Free cash flow Source: Bloomberg

11. 7th Jan 2016 6th Feb 2018 The US shale boom has been “a Ponzi scheme since day one”, doomed to collapse as fast as it has grown So argues @SRSroccoReport, based on the buildup of debt as evidenced in data collated e.g. by the Financial Times as above.

12. Even at the relatively high oil prices of 2017 fracked shale oil is a marginally profitable business at best 7th Jan 2016 3rd Mar 2018 Capex v cash from operations based on 10K full 2017 filings

13. Accounts of the main US exploration & production companies show 73% of them are losing money 7th Jan 2016 3rd Mar 2018 Capex v cash from operations based on 10K full 2017 filings

14. 7th Jan 2016 13th Feb 2018 A summary of the finances of fracked gas in the USA since the dawn of the shale gas boom Prof David Smythe for TEDx: income has been half costs plus borrowing …and rapid production declines won’t allow bonds to be repaid. Unconventional well finances 2007 – 2016 inclusive 350 70 227 647 Historic income (gas sales) 1 Drilling / completion cost 2 Royalties, leases, interest etc 3 Issuance of debt – junk bonds 4 324 $ billion

15. And even if somehow the majority of companies fracking shale could find their way to profitability they would face another problem of economics coming fast at them down the tracks….

16. 7th Jan 2016 12th Feb 2018 “A Powerful Mix of Solar and Batteries Is Beating Natural Gas” e.g. Arizona PS Co. opts for a solar-battery project cheaper than gas. California PURC requires PG&E to use batteries over gas. The Way Humans Get Electricity Is About To Change Forever

17. Case for coal and gas plants is “crumbling” as wind, solar and battery costs plunge 7th Jan 2016 28th Mar 2018 Bloomberg New Energy Finance says its latest conclusions have “chilling” implications for fossil generators. • Global LCOE falls 18% YOY for both onshore wind and PV in first six months of 2018 …to $55/MWh and $70MWh respectively • Offshore wind down 5% to $118/MWh • 79% fall in lithium-ion battery costs since 2010

18. There have been clear warnings about the debt mountain from early on in the shale story, and all the way through it ….in this respect the shale debt bubble is unlike the mortgage-backed securities debt bubble that built up before the credit crunch of 2007 and financial crisis of 2008 (In some of the pictures and charts that follow, the oil price of the day [Brent crude] is in yellow)

19. 1 mile © Hughes GSR Inc, 2014 (data from Drillinginfo, February, 2014) “Is the U.S. Shale Boom Going Bust?” (…even at $100 oil) 22nd Apr 2014 $108 Another Bloomberg report, on 30th April, digs further. Its headline: “Shale Drillers Feast on Junk Debt to Stay on Treadmill.”

20. “The Shale Industry Could Be Swallowed By Its Own Debt” 17th Jun 2015 $60 “Drillers’ debt ballooned to $235 billion at the end of the first quarter, a 16 percent increase in the past year, even as revenue shrank.”

21. “Oil price plunge sparks bankruptcy concerns” 11th Jan 2016 $29 Long-term debt for 134 public oil exploration and production companies in the US and Canada. 2015 figure is through December 17th.

22. Both trains and drillers are increasingly getting burned in the shale boom “BHP writes down US shale assets by $7.2bn” 15th Jan 2016 $28

23. 7th Jan 2016 29th Jun 2017 After $13bn of writedowns, BHP chairman says $20bn US shale investment in 2011 was “a mistake” Jacques Nasser: “If we knew (in 2011) what we knew today, we wouldn't do it, of course we wouldn't do it.”

24. “It will take more than an oil price rally to restart the US shale boom” 10th Feb 2016 $30 "It’s not really like just turning on the light switch." Bill Thomas, chief executive EOG Resources Reasons include cannibalization and degradation of idled equipment, workers relocating to growth sectors such as solar.

25. “Oil industry faces huge worker shortage”7th Jan 2016 8th July 2016 $44 The average age of the oil industry worker is 49 c. 350,000 workers laid off industry-wide, c. 60% of fracking workforce laid off, c. 70% fracking equipment idled, >70 companies bankrupt

26. The industry is innovating its costs down constantly: global average oil breakeven cost is now at $51 7th Jan 2016 13th July 2016 $44 This is down $19 since 2014, and shale costs are among the lowest. But it is not enough to reverse the buildup of the debt mountain.

27. “Energy companies buy time by paying debt interest with more debt” 7th Jan 2016 25th July 2016 W&T Offshore, for example: they are offering bondholders 45% of equity plus more debt notes deferring cash payments due. 7th Jan 2016 25th July 2016 $43

28. 7th Jan 2016 24th Oct 2016 $49 “Bankruptcy bust: How zombie companies are killing the oil rally” c.70 bankrupt companies are producing fully 1.1 mbd, restricting the oil price rise that can offer at least some hope of profitability.

29. 7th Jan 2016 1st June 2017 $50 Michael Bloomberg: US cities, states and businesses will still meet Paris targets “The Global Oil & Gas Industry Is Cannibalizing Itself To Stay Alive” 75% of operating cash flow just to pay interest The Debt Wall Amount of bonds below investment grade that the US energy companies need to pay back each year

30. Oil and gas extraction has been the least profitable US industry over the last year 7th Jan 2016 24th Sep 2017 $58 Negative net profit averaging almost 7% over the 12 months to end July.

31. 20th Apr 2017 2 of the 3 main US shale oil production plays have peaked ….meaning much now rides on the Permian

32. 7th Jan 2016 5th Oct 2017 $57 Land deals are plunging as costs rise & production figures disappoint: “latest piece of evidence to suggest that “Permania” might be easing.”. “The Permian Boom Is Coming To An End”

33. “Has the US shale drilling revolution peaked?” 7th Jan 2016 18th Oct 2017 $58 Rather inconvenient if so, because production must be maintained for a long time, at high oil prices, in order to service / reduce the debt wall.

34. Shale gas represents 64% of US dry gas production: the US economy can ill afford any kind of collapse 7th Jan 2016 2nd Mar 2018 $64 Much depends on the Marcellus Shale (mostly in Pennsylvania), which provides 38% of shale gas production and 24% of US gas production.

35. “Wary shale investors warn against drilling at all costs” 7th Jan 2016 1st Apr 2018 $69 Says one: “If you outspend cash flow on stupid investments & destroy capital, I’m not just going to be mad at you, I’m going to punish you…”

36. 7th Jan 2016 29th Apr 2017 $75 “More Rigs Don't Mean More U.S. Gas …producers are running hard to stand still.” Rigs double since August… …and production drops

37. Fast shale-well depletion means “the oil and gas infrastructure bubble is over”: John Dizard in the FT 7th Jan 2016 13th Apr 2018 Investors’ dilemma: “No matter how many years’ service the pipes and plants could provide, there will not be the production to fill them.”

38. “Shale Industry Drills More Debt Than Profit”: DeSmogBlog launches series on $280 bn debt pile 7th Jan 2016 18th Apr 2018 “The American oil and gas boom spurred by fracking innovations may be one of the largest money-losing endeavors in the nation's history.”

39. e.g. EOG Resources: $1.1 bn loss in 2016. Would have lost $0.7 bn in 2017 but for GOP tax handout of $2.2 bn. It is still $6bn in debt. US fracking companies tipped from yet more debt to profit by Trump tax law change at end of 2016 7th Jan 2016 26th Apr 2018

40. “The US shale industry has been a money pit”: FT. Chart shows free cash flow per barrel produced for a sample of leading companies. As the oil price rises, some US shale drillers finally just about recoup the cost of their drilling 7th Jan 2016 22nd Apr 2018 2010 2011 2012 2013 2014 2015 2016 2017 Source: FT $2 0 -2 -4 -6

41. Unprofitability of fracking means the industry must keep borrowing new debt to pay back existing debt: “…the very definition of a Ponzi Scheme.” “How Lousy Shale Economics Will Pull Down The U.S. Economy”: SRSrocco Report 7th Jan 2016 18th May 2018 $78 Future Today 2015 2016 2017 • Plotting production decline by year of first flow shows just how fast the decline rates are • This plot is of the Permian, the biggest oil basin, showing e.g. 60% decline in 2 years from beginning 2016 to end 2017 (red circles) • Replacing that decline requires taking on another massive increment of debt to bankroll new production 1 2 million barrels / day 1.5 0.5

42. To keep production ahead of such decline, most companies are piling on debt even at current oil prices. Cash flow in top 10 Q1 2018: - $455 m. 7th Jan 2016 25th July 2018 $73 Decline rate in the top US shale oilfields has steadily increased to half a million barrels per day now

43. As though this state of play were not bad enough, some shale players have demonstrably inflated share prices fraudulently. If this tendency proves to be as widespread as some fear, the shale-debt crisis could end up worse than summarized here

44. 2nd Mar 2016 2nd Mar 2016 1st Mar 2016 xEx Chesapeake boss indicted for conspiracy Anti-trust investigations of other drillers ongoing

45. 2nd Mar 2016 2nd Mar 2016 2nd Mar 2016 x Ex Chesapeake boss dies in fiery car crash

46. 2nd Mar 2016 2nd Mar 2016 4th Mar 2016 x“McClendon's Actions Aren't Uncommon Across U.S. Shale Patch”

47. 7th Jan 2016 15th June 2016 “Why Billions in Proven Shale Oil Reserves Suddenly Became Unproven” 2016 deletions: = 9.2 bn barrels across 59 U.S. oil and gas companies - more than 20 % of their inventories. The SEC is investigating.

48. The track record of resource exaggeration is not encouraging

49. EIA revises down its estimate of oil recoverable in the Monterrey Shale of California by, ahem, 96% 7th Jan 2016 21st May 2014 Monterrey lauded in 2011 as a 13 bn barrel resource: 66% of US shale oil supply. Rather more media coverage of that story than this one.

50. 7th Jan 2016 5th Feb 2018 EIA 2017 shale oil projection “highly to extremely optimistic, and are very unlikely to be realized”: PCI $ hundreds of billions in debt to do this much $7.7 trillion needed to drill 1.29 million wells in EIA’s projected production Source:DavidHughes,PostCarbonInstitute

51. As the debts have built up, so have environmental problems

52. An increasing flow of worrying environmental reports on water, waste, frack fluids, & emissions 7th Jan 2016 2007 to 2014

53. City where the shale industry began - Denton, Texas - votes to ban fracking on environmental concerns 7th Jan 2016 5th Nov 2014

54. Response: Texas Legislature bans fracking bans 7th Jan 2016 16th Jun 2015

55. Long awaited EPA study concludes that fracking does contaminate US drinking water[/size] 7th Jan 2016 5th June 2016 Both the oil and gas industry and the Environmental Protection Agency had insisted that it did not until this report.

56. 7th Jan 2016 1st Aug 2017 “As the oil patch demands more water, West Texas fights over a scarce resource” Water companies are mining aquifers Farmers and others are preparing to sue

57. Exposure to intense shale gas operations correlates with higher risk of asthma attacks,
researchers find 7th Jan 2016 18th July 2016 Study began in 2012 on medical records of >400,000 residents. Finds increase in severity of asthma in those exposed to most active wells.

58. 7th Jan 2016 27th Jan 2013 So much gas is being flared from US shale fracking for oil that it can easily be seen from space Bakken Shale Minnesota St Paul `Chicago Enough gas wasted to power all the homes in Chicago and Washington DC combined

59. 7th Jan 2016 18th July 2018 If the the gas burnt globally in flares were captured and used for power generation, it could supply 90% of Africa’s electricity consumption. Global gas flaring dropped slightly in 2017, but rose 7% in the US because of fracked shale oil

60. The core oil and gas climate argument is that burning gas is less bad for global warming than burning coal

61. True ….depending on leakage Agelbert NOTE: Though coal produces more particulate pollution causing respiratory diseases, gas actually increases Global Warming from GHG pollution MORE than coal!

📢 Amory Lovins: Natural Gas is worse than Coal
Published on Jul 6, 2017

62. 7th Jan 2016 28th Jun 2017 The Paris climate emissions budget is tiny, meaning all existing gas reserves cannot be safely burned Decarbonisation by 2040 As set out by Christiana Figueres + long list of climate experts. “3 years to safeguard our climate.” And if methane leakage is significant ….

63. “Future of natural gas hinges on staunching methane leaks” 7th Jan 2016 11th July 2016 EPA data collection programme underway on 10s of 1000s of oil and gas operations. Some drillers have committed to <1% emissions.

64. Methane leaks from the US oil & gas industry c.60% higher than government estimates: new study 7th Jan 2016 21st Jun 2018 9-basin estimate incorporating aerial data suggests 2.3% leakage well- to-power plant. EPA suggested 1.4%. 2.7% makes gas worse than coal.

65. “The data confirm that we can and must do more on methane.” 2nd Mar 2016 2nd Mar 2016 29th Feb 2016 xEPA Chief: Methane emissions from oil and gas substantially higher than we thought”

66. 2nd Mar 2016 2nd Mar 2016 11th Mar 2016 xUS and Canada to cut methane emissions from oil and gas industry by 40-45%

67. 2nd Mar 2016 2nd Mar 2016 11th Mar 2016 xAPI says it will take legal action because emissions cuts will “threaten the shale revolution” Jack Gerard CEO

68. 7th Jan 2016 28th Apr 2016 The U.S. oil and gas boom is having global atmospheric consequences, NOAA reports Fully 2% of rising global ethane concentrations (which can only come from fossil fuels) are from the Bakken Shale.

69. 7th Jan 2016 16th Aug 2016 In US methane hot spot, researchers pinpoint sources of 250 leaks using airborne sensors c. 600,000 metric tons. Major coal bed methane production region. More than 50% emissions from 10% of leaks.

70. NASA-led team shows oil & gas industry responsible for largest share of recent rising methane emissions 7th Jan 2016 20th Dec 2017 New measurements reconciling isotopic data suggest fossil fuels contributed 12–19 Tg CH4 per year of c. 25 Tg CH4 per year since 2006.

71. The oil industry is betting its survival on gas, with US shale as a centerpiece

72. The O&G industry is trying to rebrand itself as a clean energy industry based on natural gas vs coal 7th Jan 2016 9th Jun 2015 World gas conference, 2015

73. Oil and Gas Climate Initiative: 10 CEOs …majoring on oil companies morphing to gas companies 7th Jan 2016 16th Oct 2015

74. 7th Jan 2016 16th Aug 2017 “Shell takes $14bn gas **** with world’s biggest floating structure” Floating Liquified Natural Gas vessel Prelude Length 488 metres

75. 7th Jan 2016 20th June 2016 Shell puts revamped shale arm at heart of future growth strategy

76. 7th Jan 2016 7th Jan 2018 Growth of Shell’s oil and gas operations in the next decade will depend on shale production: CEO With “a little bit of help from the oil price going up, we now see that we can significantly accelerate investment into this opportunity.”

77. Shell to bet billions on US shale by bidding for retreating loss maker BHP's shale division 7th Jan 2016 8th Mar 2018 The Charge of The Light Brigade A $10 billion offer, jointly with US private equity group Blackstone.

78. 7th Jan 2016 1st Aug 2013 Shell writes off $2 billion in shale The idea of a shale revolution spreading from the US across the world is “a little bit overhyped,” says CEO Peter Voser.

79. 7th Jan 2016 3rd Oct 2016 “Big oil should exercise capital discipline as prices rise” …& appoint a Head of Memory So says Paul Spedding, ex Global Co-Head of Oil And Gas Research at HSBC, now an advisor to Carbon Tracker

80. Beating Shell and Chevron to the 4.5 billion barrels of oil-equivalent resources, BP CEO Bob Dudley calls it a “transformational acquisition.” 7th Jan 2016 26th July 2018 BP heads into US shale oil and gas by buying BHP's assets - up for sale nearly a year - for $10.5bn

81. 7th Jan 2016 12th Feb 2017 “Oil and gas discoveries dry up to lowest total for 60 years” 174 discoveries totaling only 8.2 bb oil and gas equivalent in 2016. This dismal record pressures oil majors to seek quick wins in US shale.

82. 7th Jan 2016 31st Oct 2017 Gas firms spend €104m on lobbying in 2016 to keep Europe hooked on fossil fuel 30x more than groups lobbying for a fossil-fuel-free future. 460 meetings with just two relevant EU Commissioners in 2.5 years.

83. With one exception, it looks as though the rest of the world fears the downsides of shale enough not try and copy the Americans

84. 7th Jan 2016 2nd June 2016 Scottish parliament bans fracking

85. 7th Jan 2016 24th June 2016 Germany bans fracking 👍

86. 7th Jan 2016 30th Aug 2016 Victoria becomes first Australian state to permanently ban fracking and coal seam gas 👍 “It is clear that the Victorian community has spoken. They simply don’t support fracking”: State government spokesperson

87. France bans fracking and oil extraction in all of its territories 7th Jan 2016 20th Dec 2017 • 👍 President Macron says he wants to lead the world in race for renewables • Lawmakers hope the ban will be “contagious”

88. New Zealand bans future offshore oil and gas drilling 👍 in support of Paris targets 7th Jan 2016 12th Apr 2018 NZ currently has 5 operating offshore fields, and 22 active offshore exploration licences. Oil lobby expresses surprise and disappointment.

89. 7th Jan 2016 9th Nov 2016 Monterey county, a significant drilling target, votes to ban fracking despite oil industry lobbying blitz 👍

90. The exception is England, a country with a government seemingly intent on allowing the fracking of shale at any cost  >:(

91. 7th Jan 2016 Dec 2012 US shale drillers hit hurdles going international UK backs gas including domestic shale

92. “Vast areas” of southern England “discovered” to hold “billions of barrels” of oil in shale 7th Jan 2016 23rd May 2014

93. A single pre-frack exploration well drilled by Caudrilla at Balcombe in Sussex faces huge protests 7th Jan 2016 Aug 2014 👍

94. UK Secretary of State for Energy and Climate: “Our country needs shale gas, so let’s go get it” 7th Jan 2016 9th Aug 2015 Amber Rudd: “A responsible, long-term energy policy demands a willingness to take decisions today for the good of tomorrow.” 

95. “Britain's shale fracking revolution comes with big risks” 7th Jan 2016 18th Aug 2015 Andrew Critchlow: “Get it wrong and fracking in Britain…will become too politically toxic for any future government to consider. “ There would be rather a lot of these on English country lanes, carrying water, sand, and toxic frack fluids in to well pads, and waste fluid plus (maybe) oil and gas out

96. Fracking gets go-ahead in UK for first time since 2011, despite 4,000 objections to planning enquiry 7th Jan 2016 23rd May 2016 FT Lex: “The cult following still believes that fracking in the UK could be profitable. Investors should allow market forces to finally kill it off.”

97. 7th Jan 2016 8th Aug 2016 UK shale: “All households near fracking sites set to get money paid straight into banks”

98. 7th Jan 2016 27th Oct 2016 Latest UK poll suggests only 17% support fracking (while 79% support renewables) These companies are joined by the Conservative government in running the gauntlet of such huge public opposition, which must be multi-party.

99. 7th Jan 2016 13th Feb 2018 UK government accused of dishonesty in regulation of fracking by eminent geophysicist Prof David Smythe: risk in fault leakage covered up, & definitions of “conventional” & water volume bent to misclassify fracked wells. 

100. Ineos shale drilling application rejected: that makes 7 out of 8 shale drilling plans rejected in 2018 7th Jan 2016 8th Mar 2018 It now takes on average 58 weeks to (maybe) get a planning decision on the drilling of a vertical well, up from 13 weeks 5 years ago.

101. UK's first horizontal well completed in Lancashire shale, Caudrilla reports 7th Jan 2016 3rd Apr 2018 The driller now waits for government approval to conduct what would be the first frack since 2011. (The one that led to an earthquake).

102. 7th Jan 2016 19th July 2018 …and no payments for solar electricity exports – a huge blow to the homeowner and community solar that competes with shale gas. HMG proposes, on the same day, no need for frackers to seek planning permission henceforth….

103. Cuadrilla given the go-ahead to start fracking in Lancashire by energy minister 7th Jan 2016 24th July 2018 Claire Perry: “Our world-class regulations will ensure that shale exploration will maintain robust environmental standards and meet the expectations of local communities.” be derided 

104. Letter to O&G companies: major hydrocarbon releases “remain a concern because of their greater potential to lead to fires, explosions and multiple losses of life. There have been several such releases in recent years that have come perilously close to disaster.” Offshore UK OGI “perilously close to disasters” as a result of neglected gas leakage, HSE warns 7th Jan 2016 26th Apr 2018

105. The Air Quality Expert Group (AQEG) report is eventually quietly published 3 days after Caudrilla gets clearance to frack in Yorkshire. 7th Jan 2016 2nd Aug 2018 Report finding that fracking increases air pollution buried for 3 years by UK government 40,000 premature deaths a year linked to air pollution HMG has just decided its OK for that figure to be higher  >:(

106. University of London cardiologists find exposure to nitrogen dioxide and PM2.5 and PM10 particles linked to an increase in the size of ventricles. 7th Jan 2016 3rd Aug 2018 Air pollution linked to changes in structure of the heart of the sort seen in early stages of heart failure

107. And there is no reason to expect the economics of shale drilling in the UK to be any less disastrous than in the US In fact, drilling costs should be higher in the UK, because we have “world class regulations” and the Americans have virtually none under a Trump EPA Plus….

108. Subsidy-free renewable energy projects set to soar in UK, analysts say, largely killing off new gas plants 7th Jan 2016 20th Mar 2018 Aurora Energy Research: Onshore wind and solar both viable without subsidies by 2025, unlocking £20bn of investment by 2030. Solarcentury roof for Sainsbury

109. Offshore wind will provide most of the growth from 2017 to 2025, WWF suggest, but HMG could & should also use onshore wind and solar. UK on track to phase-out coal by 2025 without the need for any new large gas plants: WWF report 7th Jan 2016 13th May 2018 Masayoshi Son, Softbank founder and CEO

110. Some conclusions

111. In the USA, the sadly numerous real-life oil-train wrecks are an allegory for the entire shale story: the debt mountain means this train is going to come off the tracks

112. It’s impossible to foresee when …but unlikely to be more than a few years

113. In the UK, the train is most unlikely to make it properly on to the tracks: polls, disruption, and mad economics suggest that too many conservative rural voters will be prepared to fight very hard indeed to stop it happening

114. In the UK, the train is most unlikely to make it properly onto the tracks: too many rural Conservative voters will be prepared to die in a ditch to stop it happening The energy-policy, economic, environmental and societal implications of these conclusions will be examined further in forthcoming blog-slideshows on the Future Today website: www.jeremyleggett.net

Posted by: AGelbert
« on: July 17, 2018, 06:09:55 pm »

Solar — A Disruptive Technology (Graph)May 6, 2013 Zachary Shahan
Read more at http://cleantechnica.com/2013/05/06/solar-a-disruptive-technology-graph/#4v1VXoYOrAOfC4pp.99

Agelbert NOTE: As you can see below, this great trend continues to this day: 

Renewable Energy Clean Energy tech cost reductions up to and including 2017
Posted by: AGelbert
« on: June 14, 2018, 05:48:16 pm »

June 14, 2018

#Business & Jobs #Fossil fuels


Siemens said to mull sale of flagship gas turbine business 

Siemens is considering the sale of its struggling business that produces gas turbines for power plants, according to people familiar with the matter, report Oliver Sachgau and Eyk Henning for Bloomberg. But a final decision has not yet been made, and the company could end up weathering a downturn and keeping the business that has suffered from a collapse in orders as the global energy industry shifts to renewable sources like wind and solar and away from large-scale power plants that run on fossil fuels, according to the report.

Read the report in English here.

Find plenty of background in the factsheet Germany’s Siemens: A case study in Energiewende industry upheaval.

Posted by: AGelbert
« on: June 09, 2018, 02:05:34 pm »

June 8, 2018 by Bloomberg

Next Offshore Wind in U.S. Can Compete With Gas, Developer Says

By Jim Efstathiou Jr. (Bloomberg) — Massive offshore wind turbines keep getting bigger, and that’s helping make the power cheaper — to the point where developers say new projects in U.S. waters can compete with natural gas.

The price “is going to be a real eye-opener,” said Bryan Martin, chairman of Deepwater Wind LLC, which won an auction in May to build a 400-megawatt wind farm southeast of Rhode Island.

Deepwater built the only U.S. offshore wind farm, a 30-megawatt project that was completed south of Block Island in 2016. The company’s bid was selected by Rhode Island the same day that Massachusetts picked Vineyard Wind to build an 800-megawatt wind farm in the same area.

Bigger turbines that make more electricity have cut the cost per megawatt by about half, said Tom Harries, a wind analyst at Bloomberg New Energy Finance. That also reduces maintenance expenses and installation time. All of this is helping offshore wind vie with conventional power plants.

See Also: Massachusetts, Rhode Island Award Major Offshore Wind Contracts

“You could not build a thermal gas plant in New England for the price of the wind bids in Massachusetts and Rhode Island,” Martin said Friday at the U.S. Offshore Wind Conference in Boston. “It’s very cost-effective for consumers.”

read more:

Posted by: AGelbert
« on: May 24, 2018, 07:30:05 pm »

Agelbert NOTE: This article answers the question that has ALWAYS been in the category of "Do wild bears poop in the woods".

Can we get 100% of our energy from renewable sources? 

By Michelle Froese | May 18, 2018

This article comes from Science Daily, with materials provided by Lappeenranta University of Technology.

Scientists have demonstrated that there are no roadblocks on the way to a 100% renewable future.

֍ Is there enough space for all the wind turbines and solar panels to provide all our energy needs?

֍ What happens when the sun doesn’t shine and the wind doesn’t blow? 🤔

֍ Won’t renewables destabilize the grid and cause blackouts?    

In a review paper last year in the high-ranking journal Renewable and Sustainable Energy Reviews, Master of Science Benjamin Heard 🐉 and colleagues 🦕 🦖 presented their case  against 100% renewable electricity systems. They doubted the feasibility of many of the recent scenarios for high shares of renewable energy, questioning everything from whether renewables-based systems can survive extreme weather events with low sun and low wind, to the ability to keep the grid stable with so much variable generation.

Now scientists have hit back with their response to the points raised by Heard and colleagues. The researchers from the Karlsruhe Institute of Technology, the South African Council for Scientific and Industrial Research, Lappeenranta University of Technology, Delft University of Technology and Aalborg University have analysed hundreds of studies from across the scientific literature to answer each of the apparent issues.

They demonstrate that there are no roadblocks on the way to a 100% renewable future.

“While several of the issues raised by the Heard paper are important, you have to realise that there are technical solutions to all the points they raised, using today’s technology,” says the lead author of the response, Dr. Tom Brown of the Karlsruhe Institute of Technology.

“Furthermore, these solutions are absolutely affordable, especially given the sinking costs of wind and solar power,” adds Professor Christian Breyer of Lappeenranta University of Technology, who co-authored the response.

Brown cites the worst-case solution of hydrogen or synthetic gas produced with renewable electricity for times when imports, hydroelectricity, batteries, and other storage fail to bridge the gap during low wind and solar periods during the winter. For maintaining stability there is a series of technical solutions, from rotating grid stabilisers to newer electronics-based solutions.

The scientists have collected examples of best practice by grid operators from across the world, from Denmark to Tasmania.

Furthermore, these solutions are absolutely affordable, especially given the sinking costs of wind and solar power.

The response by the scientists has now appeared in the same journal as the original article by Heard and colleagues.

There are some persistent myths that 100% renewable systems are not possible,” says Professor Brian Vad Mathiesen of Aalborg University, who is a co-author of the response. “Our contribution deals with these myths one-by-one, using all the latest research. Now let’s get back to the business of modeling low-cost scenarios to eliminate fossil fuels from our energy system, so we can tackle the climate and health challenges they pose.”   


📢 And of the rest planet needs that INDEPENDENCE too!
Posted by: AGelbert
« on: March 06, 2018, 09:46:13 pm »

Coal Stacks Felled to Make Way for Solar in Ontario (VIDEO)  

March 2, 2018

Posted by: AGelbert
« on: December 12, 2017, 02:40:24 pm »

GE Cutting 12,000 Jobs as Renewables and Energy Storage Upend Fossil Fuels

Motley Fool   
Travis Hoium, The Motley Fool
Motley FoolDecember 12, 2017

When an electric energy pioneer like General Electric (NYSE: GE) reconfigures its entire energy business, investors should take note. That's exactly what happened last week when GE Power announced it would cut 12,000 jobs, or 18% of the division's workforce, reducing the company's exposure to traditional power plants.

What wasn't affected was GE's staffing or investments in renewable energy and energy storage. In fact, these emerging energy assets are what's disrupting fossil fuels more broadly. GE has made the first step to reducing exposure to fossil fuels -- now the question may be "What's next?"

Coal power plant with smoke coming from smoke stacks. (picture at link)
Coal power plants like this one are being shut down by the hundreds, forcing GE to cut back on its power plant business. Image source: Getty Images.

What GE's layoffs tell us

As part of a plan to cut $1 billion in structural costs at GE Power, there will be about 12,000 positions eliminated up and down the business. Weak fundamentals in the power plant business overall were the drivers of the move, with the press release saying:

Traditional power markets including gas and coal have softened. Volumes are down significantly in products and services driven by overcapacity, lower utilization, fewer outages, an increase in steam plant retirements, and overall growth in renewables. GE Power is right-sizing the business for these realities and is focused on improving operational excellence and reducing its footprint and structure, which will help drive significant improvements in cash flows and margins.

Notice that growth in renewables was given as a reason for the reduction in GE's power business. As wind and solar energy have come down in cost, they've replaced traditional coal and natural gas power plants as the fuel of choice for new power plants around the world. And there's no reason that's going to change. What's unclear is if GE is going to transition from the dying fossil fuel business to the growing renewable energy business.

Is GE taking renewables seriously?

If GE is hoping to play a meaningful role in renewable energy in the future it's going to have to take the industry more seriously. GE sold its thin-film solar business to First Solar (NASDAQ: FSLR) in 2013, largely exiting the solar market. In wind, GE is a market leader in turbines, but pricing pressure has compressed margins for the industry as a whole. Energy storage is the third leg of renewable energy disruption, and GE hasn't made a meaningful play in the industry so far, ceding market share to AES (NYSE: AES), Siemens, and Tesla (NASDAQ: TSLA).

The only segment where GE seems to have taken renewable energy seriously is financing. The company has financed $5 billion of projects over the last three years. But that level of investment isn't going to drive earnings for a $153 billion company.

To take renewable energy seriously, I think GE needs to start putting its balance sheet to work, scooping up assets and developing projects around the world. Buying First Solar or SunPower (NASDAQ: SPWR) would make sense, although SunPower is majority owned by Total (NYSE: TOT) today. With SunPower, in particular, it could invest in the manufacturing scale necessary to become profitable and increase market share to become a top-3 manufacturer.


Posted by: AGelbert
« on: November 21, 2017, 01:15:51 pm »


Norway Oil Bosses Insist End Isn’t Near After $35 Billion Shock Investment Dump

November 20, 2017 by Bloomberg


By Mikael Holter (Bloomberg) — Can Norway dump $35 billion in oil and gas investments, and simultaneously convince that same industry to throw money into the country’s own fossil-fuel future?

After the initial shock of learning that Norway’s $1 trillion wealth fund wants nothing to do with it, the petroleum industry says both are in fact possible.

But the mood is shifting. While the fund said its proposal is about spreading risk and doesn’t imply a negative outlook on the oil industry ;), the plan reverberated as a nod from western Europe’s biggest oil producer to the uncertain future facing oil.

Confident Lobby

The proposal needs approval from Norway’s government and possibly even Parliament. Crucially, it has no bearing on the terms offered to oil companies operating offshore Norway, said both Industry Energy and the Norwegian Oil and Gas Association , a lobby group for companies such as Royal Dutch S , Total SA and Exxon Mobil Corp. all companies that could be dropped by Norway’s wealth fund if the proposal is implemented.

Full article:


Message for the Norwegian Oil and Gas Association:   

Posted by: AGelbert
« on: November 17, 2017, 11:35:55 am »

Norway’s $1 Trillion Fund Wants Out of Oil and Gas Stocks

November 16, 2017 by Bloomberg


By Sveinung Sleire (Bloomberg) — The $1 trillion fund that Norway has amassed pumping oil and gas over two decades wants out of energy stocks.

Norway, which relies on oil and gas for a fifth of economic output, would be less vulnerable to declining crude prices without investments in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks.

“Our perspective here is to spread the risks for the state’s wealth,” Egil Matsen, the deputy central banker overseeing the fund, said in an interview in Oslo. “We can do that better by not adding oil-price risk.”

The plan would entail the fund, which controls about 1.5 percent of global stocks, dumping as much as $40 billion of shares in international giants such as Exxon Mobil Corp. and Royal Dutch Shell Plc.   The Finance Ministry said it will study the proposal and decide what to do in “fall of 2018” at the earliest.

Full article:


Posted by: AGelbert
« on: November 07, 2017, 06:59:50 pm »

Lazard: Wind & Solar Power Costs Continue To Fall, Putting Coal & Nuclear At A Disadvantage

November 7th, 2017 by Steve Hanley


Lazard is a global asset management company that tracks the cost of producing electricity, among other things. It uses a measure called the Levelized Cost of Energy (LCOE), which averages the estimated costs of construction, maintenance, and fuel for electricity generating assets over the number of megawatt-hours that each is expected to produce over its lifetime. In simple terms, it is one way of comparing different ways of making electricity to see which cost more and which cost less.

Wind & Solar Costs Declined By 6%
Excellent full article:   


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