Ecocharger + 1,382 DL November 1, 2023 11 hours ago, Jay McKinsey said: Only you could say up and down are the same thing. Only you could deny that an increase in production is not an increase in production...but I am not surprised, having come to expect your fractured logic. 1 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL November 1, 2023 (edited) The offshore wind energy system is "fundamentally broken", and will remain decrepit and stalled going forward. https://oilprice.com/Latest-Energy-News/World-News/BP-Executive-Describes-The-US-Offshore-Wind-Industry-As-Fundamentally-Broken.html "Currently, the U.S. regulatory environment is challenging for developers due to a lack of mechanisms to adjust for inflation, permitting issues, and a lag between the signing of the power purchase agreement and the construction of the projects, according to BP’s green energy boss." Edited November 1, 2023 by Ecocharger 1 Quote Share this post Link to post Share on other sites
notsonice + 1,093 DM November 1, 2023 2 hours ago, Ecocharger said: The offshore wind energy system is "fundamentally broken", and will remain decrepit and stalled going forward. https://oilprice.com/Latest-Energy-News/World-News/BP-Executive-Describes-The-US-Offshore-Wind-Industry-As-Fundamentally-Broken.html "Currently, the U.S. regulatory environment is challenging for developers due to a lack of mechanisms to adjust for inflation, permitting issues, and a lag between the signing of the power purchase agreement and the construction of the projects, according to BP’s green energy boss." The offshore wind energy system is "fundamentally broken",????? nope just the fools, BP Equinor and Orsted, who did not have inflation escalators written into their contracts. They have to write big checks to the US to exit their deals. They all cried that they needed to renegotiate their contracts. BP is the worst.......they have no problem with the windfall profits that they suck out of everyone with the Jump in Oil in 2022 yet they do not want to spend some of those inflation causing profits on projects that they had obligations to and our under contract..... They all could have made sure their was inflation escalators in their contracts before signing them......... and they should not have bid so low on pricing the power without price escalotors........Idiots Especially BP who has 75 years experience in Deep Offshore developments....they know the costs can zoom when developing oil and gas fields I hope they all are banned from any leases in the US....including oil and gas for their breaking of their contracts....It is what the US does to anyone that breaks a contract....you get banned for years from further business The leases will be re-offered and others will step in at higher rates yet other projects move on Marine Link U.S. Approves Construction Of 2.6 GW Offshore Wind The U.S. Department of Interior on Tuesday approved the construction and operations plan for the 2.6 GW Coastal Virginia Offshore Wind... . 3 hours ago CalMatters 'A massive enterprise': California's offshore wind farms are on a fast track EUREKA — If the American West represents the “geography of hope,” as author Wallace Stegner wrote, then what better place than California's... . 2 weeks ago Quote Share this post Link to post Share on other sites
Rob Plant + 2,648 RP November 2, 2023 Scotland’s first’ plastic-to-hydrogen power plant given green light 'Scotland’s first' plastic-to-hydrogen power plant given green light - Utility Week Hopefully these plants can also adopt the below tech to be more economically viable Plastic Waste Becomes Clean Hydrogen Goldmine | OilPrice.com looks like all steam ahead (no pun intended) for the site at Ellesmere Port as well peellandp.co.uk/news-and-views/news/unanimous-approval-for-uk-s-first-plastic-park-at-protos-cheshire/ Another one for Mark Lawson's book lol Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL November 2, 2023 (edited) The offshore wind industry is now officially financially dead and totally dependent on endless streams of taxpayer money to prop up a failing system. Offshore wind is a big loser and a serious drag on the American economy. https://oilprice.com/Alternative-Energy/Wind-Power/Bidens-Wind-Revolution-Faces-Setback-As-Major-Projects-Halted.html "Orsted A/S halts the development of Ocean Wind 1 and 2 projects off New Jersey, citing supply chain problems and increased interest rates as major concerns. The company's reported impairment for the first nine months of 2023 is DKK 28.4 billion ($4 billion), significantly more than their prior forecast. The offshore wind power industry faces a potential financial crisis, with other energy companies also signaling difficulties, indicating a broader downturn in the renewable sector." Edited November 2, 2023 by Ecocharger 1 Quote Share this post Link to post Share on other sites
notsonice + 1,093 DM November 2, 2023 5 hours ago, Ecocharger said: The offshore wind industry is now officially financially dead and totally dependent on endless streams of taxpayer money to prop up a failing system. Offshore wind is a big loser and a serious drag on the American economy. https://oilprice.com/Alternative-Energy/Wind-Power/Bidens-Wind-Revolution-Faces-Setback-As-Major-Projects-Halted.html "Orsted A/S halts the development of Ocean Wind 1 and 2 projects off New Jersey, citing supply chain problems and increased interest rates as major concerns. The company's reported impairment for the first nine months of 2023 is DKK 28.4 billion ($4 billion), significantly more than their prior forecast. The offshore wind power industry faces a potential financial crisis, with other energy companies also signaling difficulties, indicating a broader downturn in the renewable sector." The offshore wind industry is now officially financially dead?????? 2 projects get the axe by 3 companies that got in over their heads and you call the offshore wind industry dead??????... only thing that is dead is the 3 companies bonds they put up when the won the rights ...I expect they will lose a pile of cash to the State of New York EcoChump.....I crown you chicken little as you believe that the sky is failing...... Reality the 2 projects are going to be put up for auction again.......and hopefully BP is banned from bidding as they now have wasted everyone's time ........ Quote Share this post Link to post Share on other sites
Eyes Wide Open + 3,545 November 2, 2023 34 minutes ago, notsonice said: The offshore wind industry is now officially financially dead?????? 2 projects get the axe by 3 companies that got in over their heads and you call the offshore wind industry dead??????... only thing that is dead is the 3 companies bonds they put up when the won the rights ...I expect they will lose a pile of cash to the State of New York EcoChump.....I crown you chicken little as you believe that the sky is failing...... Reality the 2 projects are going to be put up for auction again.......and hopefully BP is banned from bidding as they now have wasted everyone's time ........ 2 Quote Share this post Link to post Share on other sites
notsonice + 1,093 DM November 2, 2023 1 hour ago, Eyes Wide Open said: yep BP is real butthurt as they tossed Equinor 1 BILLION plus 100 MILLION Dollarsssssssssssss in 2020 for 50 percent of Equinors stake in NY offshore wind pucker up BP 1 Quote Share this post Link to post Share on other sites
Rob Plant + 2,648 RP November 3, 2023 18 hours ago, Ecocharger said: The offshore wind industry is now officially financially dead and totally dependent on endless streams of taxpayer money to prop up a failing system. Offshore wind is a big loser and a serious drag on the American economy. https://oilprice.com/Alternative-Energy/Wind-Power/Bidens-Wind-Revolution-Faces-Setback-As-Major-Projects-Halted.html "Orsted A/S halts the development of Ocean Wind 1 and 2 projects off New Jersey, citing supply chain problems and increased interest rates as major concerns. The company's reported impairment for the first nine months of 2023 is DKK 28.4 billion ($4 billion), significantly more than their prior forecast. The offshore wind power industry faces a potential financial crisis, with other energy companies also signaling difficulties, indicating a broader downturn in the renewable sector." Oh and then back to reality! US Offshore Wind Project Pipeline Nears 53 GW US Offshore Wind Project Pipeline Nears 53 GW | Offshore Wind The US offshore wind pipeline reached 52,687 MW at the end of May 2023, with two offshore wind farms in operation totalling 42 MW, over 40 projects under development totalling 47,606 MW, and a further 5,039 MW of potential capacity in the planning stage. Quote Share this post Link to post Share on other sites
TailingsPond + 495 GE November 3, 2023 Portugal hitting 100% green energy. https://www.portugalresident.com/renewables-supply-all-power-in-portugal-over-weekend/ Quote Share this post Link to post Share on other sites
TailingsPond + 495 GE November 3, 2023 (edited) WTI falls to $80.29. Good news for consumers, but where is all that demand? LOL Edited November 3, 2023 by TailingsPond Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL November 3, 2023 15 hours ago, Rob Plant said: Oh and then back to reality! US Offshore Wind Project Pipeline Nears 53 GW US Offshore Wind Project Pipeline Nears 53 GW | Offshore Wind The US offshore wind pipeline reached 52,687 MW at the end of May 2023, with two offshore wind farms in operation totalling 42 MW, over 40 projects under development totalling 47,606 MW, and a further 5,039 MW of potential capacity in the planning stage. Show us the endless streams of taxpayer money used to prop up these losers. 1 1 Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL November 3, 2023 (edited) 2 hours ago, TailingsPond said: Portugal hitting 100% green energy. https://www.portugalresident.com/renewables-supply-all-power-in-portugal-over-weekend/ Sure, but not for long, and with help from natural gas, "Electricity consumption in Portugal was supplied by renewable sources (mainly wind and water) for more than 24 hours over the weekend " Edited November 3, 2023 by Ecocharger Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL November 3, 2023 (edited) Coal is now ramping up to unprecedented levels of use. https://oilprice.com/Latest-Energy-News/World-News/Indias-October-Coal-Production-Jumps-19.html "India’s coal production jumped by 18.59% to 78.65 million tons in October compared to the same month last year, data from the Indian Ministry of Coal showed on Friday. Between April and October, the first seven months of the Indian fiscal year 2023/2024, Indian coal production also rose, by 13.05% year-on-year to 507 million tons, according to the data. Coal India, the giant producer accounting for 80% of the country’s coal output, saw its production rise by 15.36% year-over-year in October, and by 11.95% between April and October. Early this year, India’s government expected coal-fired power plants to use 8% more coal in the financial year between March 2023 and March 2024, as demand is set to continue rising thanks to growing economic activity and unpredictable weather. Last year India’s state power giant NTPC said it could increase its coal-generation capacity as it prioritizes energy security after the power outages in the spring of 2022." " Edited November 4, 2023 by Ecocharger Quote Share this post Link to post Share on other sites
Ron Wagner + 649 November 4, 2023 https://justthenews.com/politics-policy/energy/oil-industry-blasts-double-standard-failing-offshore-wind-offered-more Oil industry blasts double standard as failing offshore wind is offered more public funding Offshore wind developers are seeking more subsidies and other support in the face of billion-dollar losses this year. Oil companies made record profits last year while facing the same pressures, but they were accused of price gouging and threatened with windfall taxes. Powered By By Kevin Killough Published: November 3, 2023 11:01pm Updated: November 3, 2023 11:09pm Article Dig Deeper Soaring costs, supply chain issues and rising interest rates are taking a toll on the offshore wind industry. In the face of these challenges, the industry is asking for more support from taxpayers, and its requests have received generally positive support from renewable energy proponents. It’s a very different reaction to the oil and gas industry, which doesn’t receive nearly the subsidies that wind companies enjoy but is up against the same challenges. Despite the impacts of supply chain issues and higher interest rates, the petroleum industry has remained profitable in the recovery years following the pandemic. Rather than recognize the industry as a success story, they’ve been criticized for making too much money. Throughout 2022, oil companies were reporting record profits. They were accused of “price gouging” and Congressional Democrats sought to impose more taxes on them to give some of those high earnings to the federal government. California even passed a price gouging law in response to the success of oil and gas. “It's not that the government is picking energy winners and losers. It’s that the government keeps picking losers,” Tim Stewart, president of the U.S. Oil and Gas Association, told Just The News. The news Tuesday that Danish wind developer Orsted is canceling Ocean Wind, a major 2.2-gigawatt wind project off the New Jersey shore — and likely forfeiting $100 million in the process — was just the latest in a string of troubles for the wind industry. “Wind power receives billions in taxpayer support, yet we see project after project failing. In this case, it’s the people of New Jersey left holding the bag,” Daniel Turner, executive director of Power The Future, an energy advocacy group, said in a statement. Turner pointed out that New Jersey Gov. Phil Murphy praised the project when his state and Orsted finalized agreements for the Ocean Wind. Murphy was highly critical of the company’s decision to cancel the project. “Today’s decision by Orsted to abandon its commitments to New Jersey is outrageous and calls into question the company’s credibility and competence,” Murphy said in a statement. The company is still developing three other projects off the coasts of Rhode Island, Connecticut, Maryland, Delaware and New York. The U.S. Department of Energy and the International Energy Agency consider development of offshore wind projects vital to transitioning the grid off of fossil fuels. In the face of the recent setbacks, governments are open to piling on more support, which would be in addition to what the industry already receives in taxpayer money. On the same day that Orsted announced the end of the Ocean Wind project, the Biden administration approved the Coastal Virginia Offshore Wind project, which will include 176 turbines off the coast of Virginia. “Today’s approval of the largest offshore wind project in U.S. history builds on the undeniable momentum we are seeing,” Secretary of the Interior Deb Haaland said in a statement. Despite billions of dollars in support under the Inflation Reduction Act, wind developers Orsted, Norway-based Equinor and France’s Engie requested changes to tax credits in September to lower the bar for eligibility. Six governors of East Coast states, including New Jersey’s Murphy, wrote a letter to President Joe Biden in September supporting the request. The letter also requested more be done to expedite the permitting process, as local opposition — ironically from many environmentalists — and the federal requirements under the National Environmental Policy Act make project development a long process. Over in Europe, the offshore wind industry is having just as much trouble and getting just as much support from European governments. The European Commission is proposing a package to back the wind industry, which includes expedited permitting, improved auction systems, access to finance, and support for stable supply chains. With billions in losses, Siemens is in talks with the German government in hopes of getting more aid. German Chancellor Olaf Scholz, Reuters reported, called the industry “very important” as the talks were underway. Although facing many of the same problems as the wind energy industry, the outcomes this year have been far better in the petroleum industry. Earnings are down from their records of 2022, but the companies are still doing well in 2023. ExxonMobil is expecting to deliver an operating profit of between $8.3 billion and $11.4 billion in the third quarter, according to Reuters. Results in the quarter for Chevron were also down from last year’s highs, but still historically strong. The British energy giant BP fell short of expectations this quarter, but the company still delivered a profit. Shell also saw "strong operational and financial performance" in the third quarter, according to Shell CEO Wael Sawan. Shell announced earlier this month it was cutting 15% of the workforce in its low-carbon solutions division. For the oil and gas industry, the increasing support of offshore wind despite widespread failures several months after condemning oil companies for making too much money represents a global failure in energy policy. “Orsted is another cautionary tale in a long string of cautionary tales about government mandates and subsidies. Americans were told for decades the future is all renewable and, if a government mandate was combined with enough subsidies, then everyone would have cheap, abundant renewable energy. That hasn't happened,” the U.S. Oil and Gas Association's Stewart said. Larry Behrens, western states director for the Power The Future, told Just The News that Biden declared a war upon oil and gas, while rushing to spend billions on these green solutions. We’re now suffering the consequences. “From car manufacturers hitting the brakes on electric vehicles to wind projects failing on a massive scale, it’s clear Joe Biden’s agenda is an unsustainable boondoggle that will continue to cost taxpayers and grow our national debt,” Berhrens said. “Failed leaders have failed priorities and there is no doubt Biden is failing” he added. The question remains as to how long renewable energy supporters’ patience will hold out. Should the industry get the added support it seeks and continues to see losses, it’s unlikely that more supporters — and voters for that matter — will offer another round of bailouts. 2 Quote Share this post Link to post Share on other sites
Ron Wagner + 649 November 4, 2023 https://www.google.com/search?q=american+coal+exports&rlz=1CAVARX_enUS996US996&oq=american+coal+exports+&aqs=chrome..69i57j0i22i30l9.15787j0j7&sourceid=chrome&ie=UTF-8 In 2022, the United States exported about 85 million short tons of coal to at least 71 countries. This was equal to about 14% of U.S. coal production. Exports to five countries accounted for about 56% of total U.S. coal exports. Here are some facts about American coal exports: In 2012, U.S. coal exports reached a record high of 125.7 MMst, equal to about 12% of U.S. coal production. In 2021, the United States exported 85,115 tons of coal to 80 countries. In Q1 2023, US coal exports surged 20.3% YOY. The US Energy Information Administration forecast that coal exports would rise 18.9% to 100.8 million short tons in 2023, before rising further to 103.4 million tons in 2024. Europe accounted for 26.6% of U.S. exports, with the Netherlands the second-largest buyer overall with 3.2 million tonnes of imports. Germany, Spain and Poland were other notable European buyers, bringing in 1 million, 712,000 and 217,000 tonnes, respectively. The United States is the largest repository of coal in the world, with more than one-fourth of the world's economically recoverable coal reserves. Facts & Figures - US Coal Exports According to the World Energy Council, more than one-fourth of the world's economically recoverable coal reserves are in the United States – making the U.S. the largest repository of coal in the world. In 2022, the United States exported almost 85 MMst (MMst=million short tons) of coal to at least 50 countries. US Coal Exports 2 Quote Share this post Link to post Share on other sites
Old-Ruffneck + 1,177 er November 4, 2023 13 hours ago, TailingsPond said: WTI falls to $80.29. Good news for consumers, but where is all that demand? LOL Certainly your not that ignorant on consumption of oil and price per barrel? Too many factors besides gasoline that sets prices....... for one the economy of the world is slowing down, and people are in debt at a record pace not good !!!!! Demand is still extremely high. You might want to take a look at production charts for the last 20 years. You'll see steady upward trend 'cept covid years but has been on the march upward. So if you actually think demand destruction is good for a healthy economy, you probably don't understand oil economy!! Like it or not........oil will be here for our lifetime and ICE will still be going. Honda dealer in Central Illinois has Zero EV's or even Hybrids. Asked sales manager why and basically no demand here. You can buy Rivian vehicles for alot less than 3 years ago, but in 2 years will be out of business. Same as many major players in the electric automotive industry. The infrastructure is still way too slow to get moving. So you can LOL 🙂. but really shows your ignorance in basic economics. 3 Quote Share this post Link to post Share on other sites
Polyphia + 70 LT November 4, 2023 1 hour ago, Old-Ruffneck said: "Certainly your not that ignorant on consumption of oil and price per barrel?" It always makes me laugh when someone calls someone else ignorant and uses "your" instead of "you're" or "you are." "Like it or not........oil will be here for our lifetime and ICE will still be going." I think most of the people you and your hard right buddies call "greenies" don't disagree about this fundamentally. Petroleum products and ICE vehicles are going to be around for a while. However, their prevalence/market share are dropping and will continue to drop. "Honda dealer in Central Illinois has Zero EV's or even Hybrids. Asked sales manager why and basically no demand here." Anecdotal data mean very little. Many on this forum have provided US/international data showing that YOY demand/sales for EVs and hybrids have continued to increase. "You can buy Rivian vehicles for alot less than 3 years ago, but in 2 years will be out of business." Maybe, maybe not. Over the years, have there not been any ICE vehicle manufacturers that have gone belly up (or been bailed out by the government)? This is just part of the natural process, not a harbinger of doom for EVs. "The infrastructure is still way too slow to get moving." The infrastructure IS moving. "So you can LOL 🙂. but really shows your ignorance in basic economics." Your post shows a very cherry-picked set of information that is not in line with the extant data. Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL November 4, 2023 1 hour ago, Polyphia said: As soon as the climate scam becomes widely known, the political culture will move accordingly into a fossil fuel friendly mode. 1 Quote Share this post Link to post Share on other sites
TailingsPond + 495 GE November 4, 2023 (edited) 8 hours ago, Old-Ruffneck said: Certainly your not that ignorant on consumption of oil and price per barrel? Too many factors besides gasoline that sets prices....... for one the economy of the world is slowing down, and people are in debt at a record pace not good !!!!! Demand is still extremely high. You might want to take a look at production charts for the last 20 years. You'll see steady upward trend 'cept covid years but has been on the march upward. So if you actually think demand destruction is good for a healthy economy, you probably don't understand oil economy!! Like it or not........oil will be here for our lifetime and ICE will still be going. Honda dealer in Central Illinois has Zero EV's or even Hybrids. Asked sales manager why and basically no demand here. You can buy Rivian vehicles for alot less than 3 years ago, but in 2 years will be out of business. Same as many major players in the electric automotive industry. The infrastructure is still way too slow to get moving. So you can LOL 🙂. but really shows your ignorance in basic economics. I said this is "good news for consumers." I have a love-hate relationship with oil. I live in an oil producing area so high oil is great for our economy. However, I do believe it is bad for our health and the environment, and I'm not just talking CO2 / climate change. Edited November 4, 2023 by TailingsPond Quote Share this post Link to post Share on other sites
Old-Ruffneck + 1,177 er November 4, 2023 5 minutes ago, TailingsPond said: I said this is "good news for consumers." I have a love-hate relationship with oil. I live in an oil producing area so high oil is great for our economy. However, I do believe it is bad for our health and the environment, and I'm not just talking CO2 / climate change. Okay.......understand!! Wars over oil are the worst but it is a extremely highly used product. So, yes there are downsides to oil besides health risks etc. Notice I left out climate change as I am not of that "cult".........climate always changes. 3 Quote Share this post Link to post Share on other sites
TailingsPond + 495 GE November 7, 2023 $79.36 @Ecocharger tell me about all that demand again. Quote Share this post Link to post Share on other sites
Ecocharger + 1,382 DL November 7, 2023 4 hours ago, TailingsPond said: $79.36 @Ecocharger tell me about all that demand again. Demand declines during a recession. 1 Quote Share this post Link to post Share on other sites
TailingsPond + 495 GE November 7, 2023 (edited) 1 hour ago, Ecocharger said: Demand declines during a recession. $77.78 That is some recession. Funny how when EV sales slightly slow down that means "the end of EV's" in your mind. Yet when you see oil have a massive crash you blame the economy. Perhaps if somebody had done better in economics class they would have predicted this shift in the economy and price of oil. Eat crow Edited November 7, 2023 by TailingsPond 2 Quote Share this post Link to post Share on other sites
TailingsPond + 495 GE November 7, 2023 (edited) $77.56 It drops so fast. Insane demand I tell ya. "$100 by the new year" Edited November 7, 2023 by TailingsPond 1 Quote Share this post Link to post Share on other sites
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