GREEN NEW DEAL = BLIZZARD OF LIES

[Ecocharger + 1,382]

7 minutes ago, Jay McKinsey said:

YTD BEV has increased market share. That is what matters.

No, that is not what matters. What matters is that fossil fuel market share has increased since the government buying incentives were removed this year, and EVs have lost market share. Personal EV sales have declined in absolute numbers.

You still have trouble with the facts, Jay?

Edited October 9, 2023 by Ecocharger

[notsonice + 1,093]

2 hours ago, Ecocharger said:

No, that is not what matters. What matters is that fossil fuel market share has increased since the government buying incentives were removed this year, and EVs have lost market share. Personal EV sales have declined in absolute numbers.

You still have trouble with the facts, Jay?

fossil fuel market share has increased????

from the chart YOY

diesel went from 5.5% to 3.9%

 

petrol went from 43.5% to 41.0%

 

both decreases

 

BEV went from 14.5% to 16.4%

 

so your statement that EVs have lost market share is BS

Luddite, do you still have trouble with the facts

Edited October 9, 2023 by notsonice

[TailingsPond + 495]

Global war escalation will increase oil prices. Oil and war go along together like warm apple pie and vanilla ice cream.  

Enjoy Ecocharger!

 

 

[Ecocharger + 1,382]

1 hour ago, TailingsPond said:

Global war escalation will increase oil prices. Oil and war go along together like warm apple pie and vanilla ice cream.  

Enjoy Ecocharger!

 

 

It will also increase EV prices, in fact, it will increase consumer prices in general. Enjoy.

Biden & Co. gets us into a war? And that is supposed to help win the next election?

[notsonice + 1,093]

1 hour ago, Ecocharger said:

It will also increase EV prices, in fact, it will increase consumer prices in general. Enjoy.

Biden & Co. gets us into a war? And that is supposed to help win the next election?

War...oils best friend, Just look at what it did for the world price of Oil and Nat Gas after the invasion of Ukraine..another case for renewables

The cost of the wind and the sun do not increase during war....wind and sun is free...another case for renewables

War is the reason to switch to renewables so wars over oil are nothing events

The green transition, Oil and Wars worst enemy

Enjoy the transition and enjoy less wars in the world

 

Ecochump you make a great case for Joe Bidens great big Green Push, thanks

[TailingsPond + 495]

1 hour ago, Ecocharger said:

Biden & Co. gets us into a war? And that is supposed to help win the next election?

How did Biden start this new conflict?

It is a holy war that has been going on a long time.

Edited October 9, 2023 by TailingsPond

[Ecocharger + 1,382]

1 hour ago, TailingsPond said:

How did Biden start this new conflict?

It is a holy war that has been going on a long time.

Who are we supposed to declare war on?

[notsonice + 1,093]

19 hours ago, Ecocharger said:

Who are we supposed to declare war on?

Coal

[AlBub + 14]

On 10/9/2023 at 5:06 PM, notsonice said:

On 10/9/2023 at 5:06 PM, notsonice said:

War...oils best friend, Just look at what it did for the world price of Oil and Nat Gas after the invasion of Ukraine..another case for renewables

The cost of the wind and the sun do not increase during war....wind and sun is free...another case for renewables

War is the reason to switch to renewables so wars over oil are nothing events

The green transition, Oil and Wars worst enemy

Enjoy the transition and enjoy less wars in the world

 

Ecochump you make a great case for Joe Bidens great big Green Push, thanks

Amazing how the infrastructure just appears out of thin air for free, no pollution and now dead whales, no dead eagles, no mining needed for minerals or concrete. It's just wonderful.

 

[TailingsPond + 495]

1 hour ago, AlBub said:

Amazing how the infrastructure just appears out of thin air for free, no pollution and now dead whales, no dead eagles, no mining needed for minerals or concrete. It's just wonderful.

Nobody said anything was free or there would be no causalities.  Green energy just has far less pollution and death.

Do not fool yourself, oil waste huge amounts of energy just to be mined, refined and transported.

[TailingsPond + 495]

HaHa! 

The fossil humans and MAGA cult have grown silent. I wonder why?

Eat crow embarrassed losers!

Oil down 3rd day as industry data suggests epic US crude build (msn.com)

American Petroleum Institute, reported that US crude oil stocks possibly rose by nearly 13 million barrels last week in what could be the highest build since February.

[notsonice + 1,093]

On 9/28/2023 at 6:05 PM, Ecocharger said:

Hot demand for oil is pushing up oil prices going forward.

https://oilprice.com/Energy/Crude-Oil/Will-We-See-100-Oil-In-October.html

The majority of analysts expect oil prices to remain high or go even higher. 

"“The energy stocks will obviously beat because of higher energy costs right now. The world cannot have a disruption in energy right now because the supply-demand imbalance in the world is very fragile,” Louis Navellier, chief investment officer at Navellier & Associates Inc., has said in a note. "

Hot demand for oil is pushing up oil prices going forward.??????   what happened to the Hot demand?????

 

The majority of analysts expect oil prices to remain high or go even higher. ????
 

what say ye ???? , Luddite,......you were touting $100 oil  in the month of October on September 28

and today , even with a war in the Middle East.......Brent has dropped from $94 (September 28) to $86 today......

Pesky EVs ruining your $100 Brent?????

Flashback to July 2022, and you were touting the $130 Brent Goldman Sachs call by Jan 1 2023.......

oh my, oh my.....oil has met its match with EVs and at the same time your beloved China is having its Great Recession while EV sales in China are booming

Will the China Great Recession ever end?????? Will the Chinese abandon their EV Boom ???? 

Hot demand for oil is pushing up oil prices going forward.?????? hmmmmmmm looks like another pipe dream brought to you by the King of the Luddites

 

 

Edited October 12, 2023 by notsonice

[Ecocharger + 1,382]

10 hours ago, TailingsPond said:

HaHa! 

The fossil humans and MAGA cult have grown silent. I wonder why?

Eat crow embarrassed losers!

Oil down 3rd day as industry data suggests epic US crude build (msn.com)

American Petroleum Institute, reported that US crude oil stocks possibly rose by nearly 13 million barrels last week in what could be the highest build since February.

There is still uncertainty about the long term impact of high interest rates, which could still put the brakes on the economy.

If there is recession, the price of everything is likely to be under decline, as well as the re-election chances of the White House.

[TailingsPond + 495]

2 hours ago, Ecocharger said:

There is still uncertainty about the long term impact of high interest rates, which could still put the brakes on the economy.

If there is recession, the price of everything is likely to be under decline, as well as the re-election chances of the White House.

A quality economist makes educated predictions about the future of the economy.  You would know this if you studied economics.  

Clearly your earlier statements were not well thought, or put another way, they were just plain wrong.  Admit it, learn from it, move on.

Please go on record saying you think Traitorous trump will become the next president.  Please.

 

Edited October 12, 2023 by TailingsPond

[Ecocharger + 1,382]

1 hour ago, TailingsPond said:

A quality economist makes educated predictions about the future of the economy.  You would know this if you studied economics.  

Clearly your earlier statements were not well thought, or put another way, they were just plain wrong.  Admit it, learn from it, move on.

Please go on record saying you think Traitorous trump will become the next president.  Please.

 

Hey, when did I promote Trump? You have a vivid and wrong-headed imagination.

Any economist who gives you a precise forecast about the direction of this economy is being very brave or risky.

If you had studied economics you would already know that without having to be schooled by me.

[TailingsPond + 495]

6 minutes ago, Ecocharger said:

Hey, when did I promote Trump? You have a vivid and wrong-headed imagination.

Any economist who gives you a precise forecast about the direction of this economy is being very brave or risky.

If you had studied economics you would already know that without having to be schooled by me.

I was just teasing.  Glad you do not promote trump.

I didn't say precise forecast, I said "educated predictions."  Economists are just glorified guessers - global events (political, disease, disasters, etc.) can instantly render any analysis worthless.

Makes one wonder if the analysis was ever worth anything if it can so easily be nullified.  Way too many confounding variables.

[Ecocharger + 1,382]

On 10/12/2023 at 6:07 PM, TailingsPond said:

I was just teasing.  Glad you do not promote trump.

I didn't say precise forecast, I said "educated predictions."  Economists are just glorified guessers - global events (political, disease, disasters, etc.) can instantly render any analysis worthless.

Makes one wonder if the analysis was ever worth anything if it can so easily be nullified.  Way too many confounding variables.

I don't promote Biden, either. He is too easily fooled by misrepresented climate alarms. Trump was on the ball with climate science and the need for fossil fuels.

Edited October 14, 2023 by Ecocharger

[Ecocharger + 1,382]

On 10/12/2023 at 2:51 AM, TailingsPond said:

HaHa! 

The fossil humans and MAGA cult have grown silent. I wonder why?

Eat crow embarrassed losers!

Oil down 3rd day as industry data suggests epic US crude build (msn.com)

American Petroleum Institute, reported that US crude oil stocks possibly rose by nearly 13 million barrels last week in what could be the highest build since February.

There may be some oil inventory build this week but the price of oil just jumped up $5 today.

I guess you spoke too soon.

[Ron Wagner + 649]

https://justthenews.com/politics-policy/energy/new-york-denies-offshore-wind-developer-request-raise-rates-throwing-more

 

ENERGY

/sites/default/files/styles/card/public/2023-10/GettyImages-1253690396_0.jpg?h=9aaba3c2&itok=Gu6ZyUG8

New York denies offshore wind developer request to raise rates, throwing more projects into doubt

By Kevin Killough

East Coast wind projects are in jeopardy after a decision by New York regulators Thursday to deny requests from renewable energy developers to charge customers billions of dollars more.

Offshore wind developers say they have have been struggling against record inflation, supply chain issues, and interest rate hikes. Facing these pressures, Orsted, BP, and Equinor and other renewable developers requested that contracts for four offshore projects and 86 land-based projects be renegotiated, according to Reuters.

The offshore developers asked the New York Public Service Commission to alter its long term contracts and raise purchase prices to a level that would have let them collect an additional $38 billion from ratepayers.

The commission said that granting the requests would have added as much as 6.7% to residential customers' monthly energy bill in a state that already pays some of the highest rates in the country.

Orstead CEO David Hardy told Reuters that the viability of a 924-megawatt offshore project is “challenged” by the state decision to deny the request.

President Joe Biden has pushed offshore wind development as a key component of his climate agenda.
The Inflation Reduction Act allows offshore wind developers, unlike onshore projects, to claim a minimum 30% investment tax credit, another 10% credit if the project uses equipment that’s made in the U.S., and another 10% if they build their projects in “energy communities.”

Biden’s offshore push is now threatened by rising costs, which have already led to a few projects being scrapped. Earlier this month, Avangrid, a subsidiary of the Spanish utility Iberdrola, announced it was abandoning an 804-megawatt project off the coast of Connecticut.

According to a company statement, the “unprecedented economic headwinds facing the industry including record inflation, supply chain disruptions, and sharp interest rate hikes” have “rendered the Park City Wind project unfinanceable under its existing contracts.”

The company had tried, according to the statement, to work with state and federal officials to find solutions to the project’s financial challenges, but Avangrid decided it was better to terminate its power purchase agreements. The company, according to The Connecticut Examiner, had to pay a $16 million penalty to cancel the contract.

Avangrid also agreed to pay $60 million to Massachusetts, the Examiner reported, to cancel contracts for a 1,200-megawatt wind project, and SouthCoast Wind agreed to pay $60 million to Massachusetts to cancel contracts for a 2,400 megawatt project off the coast of Martha’s Vineyard.

In 2017, Michael Liebrich, CEO of Liebrich Associates and promoter of renewable energy, told BloombergNEF that the offshore wind projects, by using very large wind turbines, were reaching a “tipping point” that allowed their costs to fall below that of fossil fuels. This would allow the industry, Liebrich said, to become competitive without subsidies.

Bloomberg reported in August that the levelized cost of electricity for an offshore wind farm, which doesn’t include all costs of putting a wind farm on the grid, was up almost 50% from 2021 level to $114.20 per megawatt hour.

Investors are responding negatively to the news of the industry’s problems. In the July-September quarter, investors fled renewable energy funds at the fastest rate on record. The total outflow was $1.4 billion.

The S&P Global Clean Energy Index, which is composed of the 100 biggest companies in the energy sector, had a YTD negative 28.78% return.

[Ron Wagner + 649]

https://tippinsights.com/bidenflation-climbs-to-17-0-hurting-americans/

BIDENOMICS — ECONOMY — OPINION

Bidenflation Climbs To 17.0%, Hurting Americans

Bidenomics ≡ Bidenflation

TIPPINSIGHTS EDITORIAL BOARD

October 13, 2023 . 7:53 AM  

11 min read

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Gasoline prices approach eight dollars a gallon at a Mobil gas station in Los Angeles, California, on October 5, 2023. Photo by PATRICK T. FALLON/AFP via Getty Images

• Bidenflation has reached 17.0%, indicating significant inflation under President Biden's policies
• Most Americans are concerned about inflation and a majority feel their wages have not kept up with rising prices
• Real wages have generally declined during President Biden's term, with a return to negative territory in September
• The U.S. economy is facing stagflation, marked by stagnant growth and high inflation

Earlier this week, we delved into two critical aspects of Biden's economic policies.

First, a sober article addressing consumer confidence titled "Bidenomics Crushes Economic Confidence."

Then, the follow-up: "Bidenomics Drives Americans' Financial Stress to Its Highest Levels Since December 2008."

We are neither obsessed with Bidenomics nor enjoy writing about it.

We're forced to do so for two compelling reasons: First, the corporate media is too busy to cover crucial issues like the nation’s financial stress epidemic and how Bidenomics has shattered Americans' economic confidence to smithereens. Second, the administration's chorus often verges on the territory reminiscent of Baghdad Bob, and the drive-by media is too lazy and quite happy to accept White House statements prima facie without any scrutiny.

Ask yourself this: how many stories in the corporate media have tackled Bidenflation? How many have explored the topic of Americans’ financial stress? After you read this piece, let us know if a single media outlet explained the dishonesty of Biden's White House's recent claims about core inflation and how they played you with statistics.

The Consumer Price Index (CPI) released by the government on Wednesday showed a 3.7% year-over-year price increase from September 2022 to September 2023. 

The CPI rate had declined steadily from a 40-year high of 9.1% in June 2022 to 3.0% in June 2023 for 12 consecutive months. In July, it broke that run and increased to 3.2%, and further increased for the second month in August to 3.7% and remained at 3.7% in September.

The CPI rose 0.4% between August 2023 and September 2023 after adjusting for seasonality and at 0.2% on an unadjusted basis. In the same period, Food rose by 0.2%, Energy by 1.5%, and All items except food and energy (Core) by 0.3%.

President Biden took a victory lap for Bidenomics:

This morning’s report shows core inflation fell to its lowest level in two years. Overall inflation is down by 60% from its peak at a time when unemployment has remained below 4% for 20 months in a row and the share of working-age Americans in the workforce is the highest in 20 years. That’s Bidenomics in action. I’ll continue to fight to build an economy from the middle out and bottom up—even as Republicans in Congress make reckless threats to weaken our economy, prioritize tax cuts for the wealthy and large corporations, and push for deep cuts to programs that are essential for hardworking Americans and seniors.

That was only partially correct for three reasons:

• Presenting a decrease in core inflation from 4.3% to 4.1% as a significant ‘victory’ without acknowledging the role of the base effect is dishonest, as it overlooks a crucial factor affecting the comparison of inflation rates.
• See the chart below. Core prices rose by 0.23% from August to September 2023. The base readings from August 2022 to September 2022 saw a bigger increase of 0.43%. This substantial base increase creates the illusion of reduced inflation in September, even though underlying inflation remains steady.
• Furthermore, on a seasonally adjusted basis, the August to September core increase of 0.3% is higher than the 3-month average of 0.27%, indicating an acceleration. (Please see the chart towards the end of this article.)

The dark shadow of Bidenomics is 17.0% inflation under Biden’s watch. His policies are a complete and utter failure that has led to stagflation in the United States.

President Biden delivers remarks at Prince George's Community College on September 14, 2023 in Largo, Maryland. Biden spoke on his economic plan, "Bidenomics," outlining his plan to create jobs, reduce inflation and increase wages. Photo by Kevin Dietsch/Getty Images

President Biden’s energy policies are inflicting great pain on Americans. He deliberately pursued policies pushing the U.S. from energy independence to dependence. Our energy dependence enriches Russia’s war chest. Meanwhile, we depleted our strategic petroleum reserve (SPR) to gain an advantage in the midterms, potentially compromising our national security.

The Biden economy continues to be the worst-performing going back to President Carter. Since February 2021, the first full month of President Biden's term, the prices of various commodities, including food, gasoline, used cars, and air tickets, have consistently increased. Although the rate of increase has slowed, prices are still rising monthly.

As we have noted numerous times, President Biden's reckless spending has resulted in inflation levels not seen in 40 years. The U.S. economy will experience an extended period of stagflation characterized by stagnation and accompanied by inflation.

TIPP CPI

We developed the TIPP CPI, a metric that uses February 2021, the month after President Biden's inauguration, as its base. All TIPP CPI measures are anchored to the base month of February 2021, making it exclusive to the economy under President Biden's watch.

We use the relevant data from the Bureau of Labor Statistics (BLS) to calculate the TIPP CPI, but we adjust the period to Biden's tenure. CPIs are like index numbers that show how prices affect people's lives, similar to how the Dow Jones Industrial Average reflects the stock market.

When discussing the TIPP CPI and the BLS CPI, we convert the index numbers into percentage changes to better understand and compare them.

Bidenflation, measured by the TIPP CPI using the same underlying data, reached 17.0% in August. It was 16.7% in August, 16.2% in July, and 16.0% in June.

By the middle of 2022, significant inflation had already taken hold. In September 2022, CPI inflation stood at 8.2 percent. While the official BLS CPI year-over-year increases will compare prices to already inflated bases in the coming months, these statistics might mask the full impact.

TIPP CPI vs. BLS CPI

The following four charts present details about the new metric.

The annual CPI increase reported by BLS is 3.7% for September 2023. Compare this to the TIPP CPI of 17.0%, a 13.3-point difference. Prices have increased by 17.0% since President Biden took office. On an annualized basis, TIPP CPI is 6.4%.

Food prices increased by 19.7% under Biden compared to only 3.7% as per BLS CPI, a difference of 16.0 points.

TIPP CPI data show that Energy prices increased by 38.8%. But, according to the BLS CPI, energy prices improved by 0.5%. The difference between the two is a whopping 39.2 points.

The Core CPI is the price increase for all items, excluding food and energy. The Core TIPP CPI was 14.8% compared to 4.1% BLS CPI in the year-over-year measure, a 10.7-point difference.

Further, Gasoline prices have increased by 52.9% since President Biden took office, whereas the BLS CPI shows that gasoline price has increased by 3.0%, a difference of 49.8 points.

TIPP CPI finds that Used car prices have risen by 24.9% during President Biden's term. The BLS CPI shows that the prices have dropped by 8.0%, a difference of 32.9 points.

Inflation for air tickets under President Biden is 24.8% compared to the BLS CPI’s finding of an improvement of 13.4%, a difference of 38.2 points.

Americans feel the pinch of Bidenomics more in line with the TIPP CPI

Americans' Concerns

The latest Investor's Business Daily/TIPP Poll, completed earlier this month, shows nine in ten (88%) survey respondents are concerned about inflation. Throughout the past year, inflation concerns have stayed above 85%. The "very concerned" share has been over 50% for twenty months.

If Bidenomics is working, this chart would be different.

Over half (60%) say their wages have not kept up with inflation. Only 16% say their income has kept pace with inflation.

This statistic hovered in the low twenties for most of the last year. The positive change between January and March has petered out since May. Notice the steady descent from March 2023. It posted 16% in September after the August blip of 20%.

Americans' earnings have not kept pace with inflation

Nominal wages represent the amount of money one earns without considering changes in the cost of living. On the other hand, real wages consider inflation and measure the wages' purchasing power. Real wages provide a more accurate reflection of what is affordable with the income earned by factoring in the changes in the cost of living.

Real weekly wages measured year-over-year dropped for 27 of the 33 months of the Biden presidency. It broke the 26-month negative run in June and posted positive readings for three months. However, it fell back to negative territory in September.

Look at the 26-months negative run

As a result of inflation, Americans are cutting back on household spending.

They are cutting back on purchasing big-ticket items (80%), entertainment (79%), eating out (79%), holiday/vacation travel (77%), and memberships/subscriptions (73%).

Many (65%) are cutting back on even good causes such as charity giving. Nearly two-thirds (61%) of households spend less on groceries. The high gasoline prices forced 58% to cut back on local driving.

Americans are cutting expenses to make ends meet

Inflation Direction

The chart below compares the 12-month average of monthly changes against the 6-month and the 3-month averages. We also show the reading for September 2023.

Not a pretty picture: Biden takes a victory lap despite the fact that the core for September is higher than the three-month moving average!

The 12-month average considers 12 data points and presents a long-term reference, while the six-month and three-month averages consider recent data points.

Typically, we compare the three-month average to the data from September 2023 to get a clearer picture. In September 2023, the price increase for 'All items' was 0.40%, and the three-month average was also 0.40%. This implies that there has been no change.

Meanwhile, the three-month average of 0.40% is higher than the six-month average of 0.32%, indicating an acceleration in the rate of increase over the past three months.

Furthermore, the six-month average of 0.32% surpasses the twelve-month average of 0.31%,  a deterioration in the trend over the last six months.

In conclusion, this pattern suggests that price increases have accelerated compared to the long term, even though the September reading did not show further deterioration.

In September, the price increase for food was 0.20%, matching the 3-month average of 0.20%. This indicates that food prices neither improved nor worsened. Furthermore, when we compare the three-month average of 0.20% to the average of the past six months, which stood at 0.15%, we can observe that the recent 3-month period saw a slightly higher price increase.

The twelve-month average was 0.29%, significantly higher than the six-month (0.15%) and three-month (0.20%) averages. So, the shorter time frames show an improvement compared to the long-term 12-month average. Hence, the pattern is mixed and is not considered favorable.

The Energy prices increased in September by 1.5%, less than the three-month moving average of 2.40%, indicating improvement. However, the recent data is worse than the 12-month average of -0.01%

"All items less food and energy" is called "core inflation," i.e., after removing volatile food and energy components. The core inflation reading in September was 0.30%, higher than the three-month average of 0.27%. This indicates deterioration in September compared to the most recent three months. Despite this, Biden claimed victory in taming “core inflation.”

Meanwhile, the three-month average of 0.27% is lower than the six-month average of 0.30%, suggesting a slowdown in core inflation. Additionally, the six-month average of 0.30% is lower than the 12-month average of 0.34%.

In summary, inflation worsened all around.

Inverted Yield Curve

In normal circumstances, longer-term investments offer higher yields than shorter-term investments due to the higher risk associated with longer durations. However, an inverted yield curve can occur during periods of economic turbulence, such as the current times. This happens because investors expect higher yields in the short term to compensate for the potential short-term uncertainties in the economy. As a result, the yields on shorter-term bonds become higher than those on longer-term bonds of the same credit quality.

The presence of an inverted yield curve is an indication that investors anticipate economic instability or a possible economic downturn. The inverted yield curve is a leading indicator of lower inflation and recession. It has a strong track record of accurately predicting the last ten recessions since 1955, with only one incorrect signal in the mid-1960s.

The closing yields on Thursday were:

• 5.421% for the 1-month Treasury bill
• 5.508% for the 3-month Treasury bill
• 5.561% for the 6-month Treasury bill
• 5.439% for the 1-year Treasury bill
• 5.075% for the 2-year Treasury note
• 4.848% for the 3-year Treasury note
• 4.702% for the 10-year Treasury note
• 4.859% for the 30-year Treasury bond

Recession ahead?

Stagflation

Here’s the conundrum. While the Fed is fighting to slay inflation, Bidenomics spending is causing it. What is the result? Stagflation.

Stagflation refers to a combination of stagnant economic growth and high inflation. Most Americans struggle, challenged by the high core inflation rate of 4.1%.

Since March 2022, the Fed has raised interest 11 consecutive times, bringing its benchmark interest rate to 5.25%, the highest level in 22 years. High-interest rates are likely to slow down the economy further.

Each time the Federal Reserve increases interest rates to contain inflation, the U.S. government must pay higher interest rates to service its ballooning debt. A rising debt-to-GDP ratio limits the ability to fund essential government services.

The October IBD/TIPP Poll revealed that most Americans view the economy negatively. Over half (54%) believe we are in a recession, and seven in ten (70%) feel that the economy is not improving.

Considering these factors and the numbers, we predict that the U.S. economy will face an extended period of stagflation characterized by a slowdown and inflation.

To access the TIPP CPI readings each month, you can visit tippinsights.com. We'll publish the TIPP CPI and our analysis in the days following the Bureau of Labor Statistics (BLS) report. The upcoming release of TIPP CPI is on November 14, 2023. We'll also post a spreadsheet in our store for download.

Hey, want to dig deeper? Download data from our store for a small fee!

Want to understand better? We recently wrote an explainer that sixth graders could understand. Everyone can benefit from it. Milton Friedman's Priceless Lessons On Inflation.

We could use your help. Support our independent journalism with your paid subscription to keep our mission going. 

 

[notsonice + 1,093]

Green Revolution............

Enjoy the transition....I am

 

https://renews.biz/88886/world-may-have-crossed-solar-tipping-point/

‘World may have crossed solar tipping point’

Photovoltaics likely to be dominant power source before 2050 says study published as part of the EEIST project

17 October 2023 15:19 Solar [Image: Unsplash/APPA]

 

The world may have crossed a “tipping point” that will inevitably make solar power the main source of energy, new research suggests.

 

The study, based on a data-driven model of technology and economics, finds that solar photovoltaics is likely to become the dominant power source before 2050, even without support from more ambitious climate policies.

 

However, it warns four “barriers” could hamper this.

These are creation of stable power grids, financing solar in developing economies, capacity of supply chains and political resistance from regions that lose jobs.

 

The study, led by the University of Exeter and University College London, is part of the Economics of Energy Innovation and System Transition (EEIST) project, funded by the UK Government’s Department for Energy Security and Net Zero and the Children's Investment Fund Foundation (CIFF).

 

The researchers say policies resolving the four barriers may be more effective than price instruments such as carbon taxes in accelerating the clean energy transition.

 

“The recent progress of renewables means that fossil fuel-dominated projections are no longer realistic,” said Femke Nijsse, from Exeter’s Global Systems Institute.

 

Nijsse added: “In reality, there is a virtuous cycle between technologies being deployed and companies learning to do so more cheaply.

 

“When you include this cycle in projections, you can represent the rapid growth of solar in the past decade and into the future.

 

“Traditional models also tend to assume the ‘end of learning’ at some point in the near future – when in fact we are still seeing very rapid innovation in solar technology.

 

“Using three models that track positive feedbacks, we project that solar PV will dominate the global energy mix by the middle of this century.”

 

The researchers warn that solar-dominated electricity systems could become “locked into configurations that are neither resilient nor sustainable, with a reliance on fossil fuel for dispatchable power.”

 

Instead of trying to bring about the solar transition in itself, governments should focus policies on overcoming the four key “barriers”.

 

Addressing grid resilience Nijsse said methods of building resilience include investing in other renewables such as wind, transmission cables linking different regions, extensive electricity storage and policy to manage demand (such as incentives to charge electric cars at non-peak times).

 

Government subsidies and funding for R&D are important in the early stages of creating a resilient grid, she added.

 

The paper, published in the journal Nature Communications, is entitled: "The momentum of the solar energy transition."

Edited October 17, 2023 by notsonice

[Ecocharger + 1,382]

Oil demand keeps roaring along and supporting price increases.

https://oilprice.com/Energy/Crude-Oil/Oil-Markets-Underestimating-The-Risk-Of-A-Middle-East-Blowout.html

"...oil fundamentals have strengthened considerably. According to StanChart, global oil demand has already exceeded the pre-Covid oil demand set in August 2019, averaging 102.33 million barrels per day (mb/d), good for a m/m increase of 1.2 mb/d and a y/y increase of 2.3 mb/d. The analysts have refuted arguments by some Wall Street analysts that high oil prices have already triggered demand destruction."

Edited October 18, 2023 by Ecocharger

[notsonice + 1,093]

the death of coal one solar panel at a time

this new plant expansion alone will wipe out multiple coal power plants every year

 

 

https://pv-magazine-usa.com/2023/10/18/qcells-completes-expansion-of-2-5-billion-georgia-solar-manufacturing-facility/

PV Magazine

Qcells completes expansion of $2.5 billion Georgia solar manufacturing facility

The addition marks the first phase of Qcells’ factory expansion and brings module production capacity to more than 5.1 GW.

OCTOBER 18, 2023 ANNE FISCHER

• GIA

Current Qcells factory in Dalton, Georgia.

Image: Hanwha Q Cells

Qcells announced the successful completion of the expansion of its solar module factory in Dalton, Georgia where it added 2 GW of solar capacity, bringing the factory’s output to more than 5.1 GW.

The company said its Dalton factory is the largest manufacturing plant of its kind in the Western Hemisphere and the first solar panel plant expansion since the passage of the Inflation Reduction Act (IRA).

The expanded factory will manufacture nearly 30,000 solar modules a day, focusing on the new Q.TRON G2 residential solar module and a bifacial module for the commercial and utility markets. The company expects both products to achieve an ecolabel known as EPEAT, which is intended to help customers identify sustainably made products. QCells says the expanded factory will create 510 new jobs.

“Completing this factory marks the third expansion we’ve made in Dalton, and it’s just the beginning of Qcells’ larger mission to build a fully integrated solar supply chain in America,” said Justin Lee, CEO of Qcells. “The Inflation Reduction Act and the efforts of Georgia’s economic development team helped make these ambitious plans possible, and with it thousands of careers in clean energy. As we build new solar technology from Dalton and prepare for the start of Cartersville, it is critical that our local to federal leaders continue to work not only with us, but the larger industry to ensure our collective investments deliver for communities for decades to come.”

In January, QCells announced that it would invest more than $2.5 billion to build a complete solar supply chain in the U.S.. Considered the largest investment in U.S. solar history, it also made QCells, a subsidiary of Hanwha Solutions, the first company to establish a fully-integrated silicon-based solar supply chain in the U.S.  Qcells intends to break ground on a new, state-of-the-art facility in Cartersville, Georgia, where it will manufacture 3.3 GW of solar ingots, wafers, cells and finished modules.

By 2024, between the Dalton and Cartersville facilities, Qcells anticipates its solar production capacity will reach 8.4 GW a year, or enough to power 1.3 million homes annually with clean energy.

Qcells opened its first factory in Georgia in 2019 and hired 750 people to manufacture 1.7 GW of solar. This initial investment was made possible in part by the Section 201 tariffs imposed on solar cells. Last year, Qcells announced a second expansion, which would add 1.4 GW to its manufacturing output and hire 535 more people. This now completed third expansion as well as the new facility that will manufacturing cells, wafers and ingots, follow the passage of the Solar Energy Manufacturing for America Act (SEMA) within the IRA and are made possible with support from Georgia’s economic development team.

Upon completed construction, Qcells estimates that its production in Georgia could avoid more than 12 million metric tons of CO2 equivalents per year while expanding domestic manufacturing of solar products amidst the push for Made-in-America clean energy solutions.

 

 

 

[Rob Plant + 2,648]

Now the steel industry is turning its back on coal!!

India Looks To Green Hydrogen For Steelmaking As Coking Coal Costs Rise

India Looks To Green Hydrogen For Steelmaking As Coking Coal Costs Rise | OilPrice.com

New steel plant operating using green energy electricity only in Germany opened yesterday.

voestalpine opens world’s most advanced special steel plant in Kapfenberg - voestalpine

Edited October 19, 2023 by Rob Plant

[Ecocharger + 1,382]

Americans are increasingly skeptical about EVs, just as British buyers are also turning their backs on EV purchases.

Reality is emerging.

https://oilprice.com/Latest-Energy-News/World-News/Most-Americans-Wouldnt-Buy-An-Electric-Vehicle.html

"Despite the Biden Administration’s push to accelerate EV adoption and the many new models automakers are offering and planning to offer, most Americans remain skeptical about the benefits of owning an electric vehicle, according to the poll.  "

Edited October 19, 2023 by Ecocharger