How Far Have We Really Gotten With Alternative Energy

[Ron Wagner + 702]

https://news.yahoo.com/why-the-war-on-fossil-fuels-is-causing-chaos-182128187.html

 

Why the war on fossil fuels is causing chaos

Rick Newman

·Senior Columnist

Mon, December 5, 2022 at 12:21 PM

 

 

Climate change is a real and urgent problem. More than a century of carbon emissions is warming the planet and causing floods, droughts, fires and other cataclysmic events that are killing people, threatening livelihoods and upending economies.

But the war on fossil fuels that are the source of those carbon emissions is causing its own forms of chaos.

Oil, natural gas and other types of carbon-based fuel will be essential for decades, yet the pace of investment in future capacity is declining in the United States and other western nations, and chronic shortages are becoming likely. There’s plenty of carbon in the ground, but energy firms no longer want to risk the long-term investments required to get it out.

“The world is experiencing the worst energy crisis since World War II,” Brenda Shaffer, a professor at the Naval Postgraduate School, said at a recent conference sponsored by the Dallas Federal Reserve Bank. “The factors contributing to this are long-term underinvestment in oil and gas, public finance denial of investment in fossil fuels, market design and energy policies around the world.”

The transition to renewables and low carbon energy that U.S. and European policymakers are pushing is necessary. But the bridge from fossil fuels to renewables is missing a few spans, which could mean energy shortages and skyrocketing prices until green energy is widespread.

While many governments are creating strong incentives to adopt renewables, they’re not safeguarding supplies of the fossil fuels that meet 80% of the world’s energy needs today. And renewables aren’t coming online fast enough to offset the shortfall of oil and natural gas. That’s why energy markets were getting tight even before Russia's Feb. 24 invasion of Ukraine sent prices spiking. Many analysts now think energy markets will remain tight — and prices high — for the next several years.

In advanced economies, costly energy will likely slow growth and perhaps contribute to recessions. In the developing world, energy shortages may worsen famines and trigger catastrophe.

The problem may not be obvious. Oil and gasoline prices have moderated recently, and new supplies from producers such as Venezuela could bring further relief. But this is a false sense of normalcy. Once China recovers from ongoing COVID shutdowns, demand for oil will strengthen and prices will go back up, maybe by a lot. The energy war between Russia and the west continues, as well, and a drop in Russian oil exports could also push prices up. American releases of oil from the US national reserve are due to end soon, further tightening supply. Self-imposed limits on western production will make the United States and Europe more dependent on other nations that prefer high prices over ample supplies.

The 2022 energy crisis persists in other parts of the energy sector. There’s a shortage of diesel, which is pushing the price of the fuel that powers long-haul trucks and farm machinery close to record highs. US natural gas prices this year have hit the highest levels since 2009, which was before the fracking boom that brought vast new supplies online. That means expensive heat and electricity this winter. In Europe, nations including the U.K., Italy, Spain, German and France are spending more money to mitigate the energy crisis and subsidize consumer energy bills than they devote to their military budgets, according to research firm Tellurian.

 

KEMMERER, WY - NOVEMBER 22: A coal mine operated by Westmoreland Coal is seen November 22, 2022 in Kemmerer, Wyoming. The coal from the mine is used to run the nearby Naughton power plant, which will be decommissioned in 2025. The mine will continue to operate. (Photo by Natalie Behring/Getty Images) More

Here are some of other unwanted and unforeseen consequences of the premature retirement of fossil fuels:

The resurgence of coal. A shortfall of natural gas for electricity generation in the United States, Europe and other parts of the world is forcing utilities to burn more coal—the dirtiest of all fossil fuels—and to a lesser extent, oil. Natural gas is the cleanest-burning fossil fuel, with fewer emissions than coal or oil. But the blockage of new pipelines and drilling in some areas is keeping supplies tight, pushing prices up and forcing utilities to find cheaper alternatives.

“During the past decade, the anti-natural-gas campaigns have put gas into the basket with oil and coal,” Shaffer said at the Dallas conference. “Extreme policy against natural gas doesn’t lead to more consumption of renewables, but to higher consumption of oil and coal.” She points out that many existing utilities can easily switch their feedstocks from gas to coal or oil without any public notice, especially in Europe.

[Follow Rick Newman on Twitter, sign up for his newsletter or sound off.]

The International Energy Agency (IEA) expects the global demand for coal to reach an all-time high in 2022, largely because of the rising cost and scarcity of natural gas. Coal prices have doubled from pre-COVID levels, reviving an industry many thought was headed for extinction. “We’re seeing coal come back on the market,” Paul Dabbar of Columbia University said at an October energy conference sponsored by the university. “The odds are emissions are probably going to head in the wrong direction this year as a result of energy security going backwards.”

Natural gas production in the United States—now the world’s largest provider—has also flatlined since 2019, following a decade-long production surge triggered by new fracking technology. The Appalachian Basin stretching from New York to Alabama is one of the largest natural gas reservoirs in the world, but at least five pipelines that could transport that gas to American consumers and to U.S. export terminals have been blocked.

Nobody protests the building of a natural gas pipeline because they want utilities to burn more coal, yet that’s what is happening.

An American energy shortage. The United States is the world’s largest oil and natural gas producer, yet some parts of the country are likely to endure soaring prices and even rationing of the energy required to stay warm this winter. Residents of the Northeast are most vulnerable, because there aren’t enough pipelines bringing gas there from other parts of the country. The Northeast can import gas by ship, but seaborne gas prices have soared as Russia shut off gas pipelines to Europe and those nations looked for new sources. The ancient 102-year-ld Jones Act essentially prevents cheaper seaborne shipments of American gas from Gulf Coast ports. Some Northeast consumers use heating oil as an alternative to gas, but those prices have skyrocketed because heating oil is similar to diesel, which is scarce because of tight refining capacity, a ban on Russian diesel imports, and a variety of other factors.

Some Americans enjoy abundant energy and cheap prices, but Northeasterners may as well live in a different country.

The growing leverage of autocratic energy producers. It’s in Europe’s and America’s interest to become less dependent on oil and gas from undemocratic suppliers such as Saudi Arabia and Russia. Yet government and market pressure to curtail drilling in democratic nations gives autocratic fossil-fuel providers more leverage, not less. Unlike the Biden administration, Saudi Arabia and other Persian Gulf petro-states control domestic energy production and can direct investments required to secure future output. In the United States, by contrast, drillers are reluctant to produce more because they fear a future profitability crunch once renewables take over. The president can ask them to drill more, but he doesn’t control the private sector the way OPEC autocrats rule their nationalized oil industries.

“Who’s going to be the last man standing in terms of who invests in fossil fuels?” Helima Croft of RBC Capital Markets said at the Columbia energy conference. “It’s going to be a small number of Gulf producers. We are still going to have to make asks of these countries when we need more oil.”

An energy advantage for China. American and European consumers pay the global price for oil. China pays less. That’s because China doesn’t participate in sanctions against Russia and Iran, and is therefore able to buy their energy products at a discount to global prices. “China has access to cheaper oil than any competing economy,” Shaffer said at the Dallas Fed conference. If that persists, it will give China—America’s top economic rival—an important cost advantage in key global industries just as the Biden administration is ratcheting up guardrails against China’s future domination. China could also become an oil and gas refining powerhouse if western economies continue to discourage oil and gas investment.

 

Power-generating windmill turbines and the church of the village are pictured during sunset at a wind park in Bethencourt, France August 11, 2022. REUTERS/Pascal Rossignol

What's Next?

President Biden and other green-energy advocates argue that the widespread adoption of renewable energy will solve these sorts of problems. Sun and wind captured on US territory will reduce the need for foreign energy. The plunging cost of renewable technology can make some forms of green energy cheaper than fossil fuels. Cornering the market for the next generation of energy technology will boost the US economy for decades.

That’s may all be true—in the future.

But the energy economy is massive, involving trillions of dollars of infrastructure devoted to the carbon fuel over the last hundred years. It can’t change nearly as fast green-energy advocates would like. There will be permitting and logistical problems building green-energy transmission and storage infrastructure, just as there are barriers to building oil or gas pipelines today. Some green-energy technologies won’t pan out. And some of the minerals needed, such as lithium, nickel and cobalt, come from China, Russia or other nations unfriendly toward the United States and the west, raising the same problem as relying on Saudi Arabia or Russia for oil.

Even with aggressive adoption of renewables, carbon fuel will remain dominant for decades. Research firm Energy Intelligence estimates that global demand for oil will grow, not shrink, until about 2030. Then demand will plateau for awhile, only beginning to decline by the late 2030s. Larry Fink, CEO of investing giant BlackRock, said recently that "we're going to need hydrocarbons for 70 years."

“We’ve underinvested,” Abhi Rajendran, director of oil markets research for Energy Intelligence, said at the Dallas Fed conference. “We’re underwater on the supply side. It’s a recipe for higher prices. It’s going to be a bumpy couple of years. We’ve been talking about consigning coal to the dustbin of history, but coal continues to boom, and oil’s going to be no different.”

Climate activists are pressuring banks and investing firms to blacklist oil and gas firms, prompting investing titans such as Steve Schwarzman of Blackstone (BX) and Larry Fink of BlackRock (BLK) to warn that the pullback is happening too soon and too fast. At the same time, American drillers are changing their business models after years of poor financial performance. For a decade leading up to 2020, the U.S. fracking boom brought vast new supplies onto the market, which kept oil and gas prices low. But low prices and too much supply hammered oil and gas profitability, culminating in massive losses when the 2020 COVID downturn struck.

There were more than 600 oil and gas bankruptcies between 2016 and 2021, with busted firms defaulting on more than $321 billion in debt. Exxon Mobil (XOM) alone lost $22 billion in 2020. Investors and shareholders who bore those losses now want a much faster return on investment, especially given efforts to shut the whole industry down. “The investor demands that we prioritize returning capital to our investors who gave us that capital in the first place,” Hellen Currie, chief economist for ConocoPhillips, said at the Dallas Fed conference. “This capital discipline mindset is now entrenched, and it’s why we don’t see more rigs or frack crews going to work.”

None of this is an argument to give up on combating global warming or transitioning to renewables. If anything, there’s a case for a faster and more aggressive transition. The IEA estimates it will take $2 trillion of global investment in green energy every year to limit global warming to the standing goal of a 1.5-degree Celsius increase by 2050. Actual investment only totals around $750 billion per year, which is why that goal is probably unrealistic. (“1.5 is dead,” the Economist declared recently.)

The Inflation Reduction Act that Biden signed in August includes about $400 billion in green-energy investments, including incentives that could generate far more in private investment. But one measure that fell out of that bill was a permitting-reform measure backed by Democratic Sen. Joe Manchin of West Virginia, which would speed federal approval for both carbon and green-energy projects. Industry officials say faster approvals are desperately needed, given that the time it takes to get a permit for a typical energy project now exceeds the time it takes to build it, according to Tellurian. State and local permitting requirements sometimes derail projects, too, which is why the Manchin bill would put new limits on the legal challenges local communities can bring.

 

Boston, MA - October 27: Newly installed Nexamp solar panels at the Local 103 headquarters in Dorchester. (Photo by David L. Ryan/The Boston Globe via Getty Images)

Biden, meanwhile, has threatened punitive action against U.S. oil and gas firms if they don’t increase production, such as banning exports or asking Congress to impose a windfall profits tax. Biden is probably bluffing, since doing either of those things could have the unintended effect of reducing production and pushing prices higher, not lower. But the threat itself, no matter how hollow, may be counterproductive, since it adds to Wall Street’s concerns about government hostility toward the industry, and squeezes the availability of financing even more.

'All of the above'

In 2014, President Barack Obama unveiled an “all of the above” energy strategy that promoted “environmentally responsible” oil and natural gas production along with renewables, nuclear power and other emerging technologies. “The simplest solution was Obama when he said ‘all of the above,’ Sarah Emerson, managing principal at ESAI Energy, tells Yahoo Finance. “We’re going to need it all, because the energy sector is so much bigger than anybody realizes.”

The basic principle for assuring a smooth transition from fossil fuels to renewables is to make sure there are ample supplies of all types of energy for as long as they’re needed.

Some climate activists favor policies that make fossil fuels more expensive, reasoning that costlier oil and gas makes renewables cheaper by comparison. One flaw in that logic is that fossil fuels and renewables are nowhere near interchangeable. Consumers in Massachusetts can’t import solar power from Arizona if heating oil gets too expensive. They just have to pay more and endure the consequences. The real-world substitution of coal for natural gas also highlights the classic risk of well-meaning policies that produce unintended consequences.

“What we’ve lost over the course of the last decade has been balance,” former Energy Secretary Dan Brouillette said at the Columbia energy conference. “Agreements tend to start with a climate focus, but we can’t focus on that exclusively. It has to be balanced with the needs of the consumer and the prices we’re seeing in the marketplace. It’s important that we think about increasing the supply of all forms of energy."

Natural gas, more than oil, could be the most potent stabilizing force during the transition to renewables.

At the Dallas Fed energy conference, Toby Rice, CEO of energy firm EQT, which operates in the Appalachian Basin, said the United States could more than double natural-gas production if pipelines and other infrastructure were in place to get gas to end users. Natural gas is the leading source of fuel for electricity production in the United States, and more gas would mean cheaper power for millions of households. It would also provide further relief for European nations trying to live without Russian supplies. Gas is “the biggest energy security blanket for Americans,” Rice said. “Get some pipelines built and U.S. oil and gas operators will step up.”

Gas is also part of the green-energy transition itself. Since wind and solar power aren’t always available, expanding their use on the grid requires a reliable “base load” that’s there if the sun isn’t shining or the wind isn’t blowing, and natural gas is the most appropriate fuel for that. “There’s this idea that if you use more renewables you use less natural gas,” Brenda Shaffer of the Naval Postgraduate School said in Dallas. “But it’s exactly the opposite. If you don’t commission enough natural gas, you can’t use enough renewables.”

Sarah Emerson of ESAI highlights hybrid automobiles as an example of how the transition to renewables has veered off-course. Hybrids, which have both a gas engine and an electric motor, grew popular from 2000 to 2015 as they offered the best fuel economy on the road with the reliability of a gas-powered engine. But most automakers have now dropped hybrids in favor of fully electric cars, even though EVs are expensive, the charging network is underdeveloped and most automakers don’t even turn a profit on EVs yet.

“Tell me why we abandoned hybrids,” Emerson says. “The original policy was let’s get to 45 miles per gallon, but hybrids got shunted aside because we got obsessed with EVs. People said, ‘We can’t have hybrids because we want to get rid of gasoline.’ But it might have been better to have another 10 years of hybrids and maybe then 10 years of EVs.”

Biden has tacitly acknowledged the need to secure more fossil-fuel supply. In October, the Energy Dept. said it plans to replace roughly 200 million barrels of oil released from the national reserve this year when the market price hits $70 per barrel or so. The government will also sign long-term contracts guaranteeing that price, which is unusual. The government normally refills the reserve at the spot price, with no advance notice of its purchase plans. Guaranteeing a price is meant to signal to producers that they can increase supply, knowing there will be at least one major purchaser buying at a price that lets them turn a profit.

But subtle signals may not be nearly enough to convince investors to finance big new fossil-fuel projects or producers to launch new battles with permitting authorities. And there are no signs of a truce in the war on fossil fuels. “There is not really a whole lot being done to fix the fact that we have underinvested, and plan for the fact that demand is going to go up,” Abhi Rajendran of Energy Intelligence said at the Dallas conference.

“I don’t," he added, "expect a whole lot to change.”

Consumers will bear the collateral damage.

[notsonice + 1,243]

Sleepy Joe .......sells the wind for $750 million in only 5 areas off the coast of California

 

RENEWS.BIZ

https://renews.biz/82343/rwe-equinor-among-winners-in-california-auction/

RWE, Equinor among winners in California auction

Ocean Winds, CIP and Invenergy also secure leases in US offshore wind lease sale

7 December 2022 20:26 Offshore Wind

 

Five developers have been named as provisional winners after pledging to spend over $750m on five wind lease areas in the Bureau of Ocean Energy Management’s (BOEM’s) California offshore lease sale.

 

RWE Offshore Wind Holdings spent $157.7m to secure OCS-P 0561, a 63,338-acre site that has been rated with an estimated 769MW.

 

Copenhagen Infrastructure Partners, through its subsidiary California North Floating, won the 69,031-acre, 838MW OCS-P 0562 with a $173.8m bid.

Equinor Wind US was named winner for OCS-P 0563, which covers 80,062 acres and is rated at 972MW, bidding $130m.

 

Ocean Winds’ subsidiary Central California Offshore Wind was granted the 80,418-acre 976MW OCS-P 0564 with a $150.3m bid

 

And finally, Invenergy California Offshore spent $145.3m on OCS-P 0565, also covering 80,418 acres and with a 976MW rating.

 

The lease areas are located offered off central and northern California in the Humboldt and Morro Bay wind energy areas. The leased areas have the potential to produce over 4.6MW offshore wind energy, enough to power over 1.5 million homes.

 

“The Biden-Harris administration believes that to address the climate crisis head on, we must unleash a new era of clean, reliable energy that serves every household in America. Today’s lease sale is further proof that industry momentum – including for floating offshore wind development – is undeniable,” said Secretary Deb Haaland.

 

“A sustainable, clean energy future is within our grasp and the Interior Department is doing everything we can to ensure that American communities nationwide benefit.”

 

 BOEM Director Amanda Lefton added: “The innovative bidding credits in the California auction will result in tangible investments for the floating offshore wind workforce and supply chain in the United States, and benefits to Tribes, communities, and ocean users potentially affected by future offshore wind activities.

 

“This auction commits substantial investment to support economic growth from floating offshore wind energy development – including the jobs that come with it. These credits and additional lease stipulations demonstrate BOEM’s commitment to responsibly grow the offshore wind industry to achieve our offshore wind goals.”

[Jay McKinsey + 1,490]

6 hours ago, Ron Wagner said:

https://news.yahoo.com/why-the-war-on-fossil-fuels-is-causing-chaos-182128187.html

 

Why the war on fossil fuels is causing chaos

Rick Newman

·Senior Columnist

Mon, December 5, 2022 at 12:21 PM

 

 

Climate change is a real and urgent problem. More than a century of carbon emissions is warming the planet and causing floods, droughts, fires and other cataclysmic events that are killing people, threatening livelihoods and upending economies.

But the war on fossil fuels that are the source of those carbon emissions is causing its own forms of chaos.

Oil, natural gas and other types of carbon-based fuel will be essential for decades, yet the pace of investment in future capacity is declining in the United States and other western nations, and chronic shortages are becoming likely. There’s plenty of carbon in the ground, but energy firms no longer want to risk the long-term investments required to get it out.

“The world is experiencing the worst energy crisis since World War II,” Brenda Shaffer, a professor at the Naval Postgraduate School, said at a recent conference sponsored by the Dallas Federal Reserve Bank. “The factors contributing to this are long-term underinvestment in oil and gas, public finance denial of investment in fossil fuels, market design and energy policies around the world.”

The transition to renewables and low carbon energy that U.S. and European policymakers are pushing is necessary. But the bridge from fossil fuels to renewables is missing a few spans, which could mean energy shortages and skyrocketing prices until green energy is widespread.

While many governments are creating strong incentives to adopt renewables, they’re not safeguarding supplies of the fossil fuels that meet 80% of the world’s energy needs today. And renewables aren’t coming online fast enough to offset the shortfall of oil and natural gas. That’s why energy markets were getting tight even before Russia's Feb. 24 invasion of Ukraine sent prices spiking. Many analysts now think energy markets will remain tight — and prices high — for the next several years.

In advanced economies, costly energy will likely slow growth and perhaps contribute to recessions. In the developing world, energy shortages may worsen famines and trigger catastrophe.

The problem may not be obvious. Oil and gasoline prices have moderated recently, and new supplies from producers such as Venezuela could bring further relief. But this is a false sense of normalcy. Once China recovers from ongoing COVID shutdowns, demand for oil will strengthen and prices will go back up, maybe by a lot. The energy war between Russia and the west continues, as well, and a drop in Russian oil exports could also push prices up. American releases of oil from the US national reserve are due to end soon, further tightening supply. Self-imposed limits on western production will make the United States and Europe more dependent on other nations that prefer high prices over ample supplies.

The 2022 energy crisis persists in other parts of the energy sector. There’s a shortage of diesel, which is pushing the price of the fuel that powers long-haul trucks and farm machinery close to record highs. US natural gas prices this year have hit the highest levels since 2009, which was before the fracking boom that brought vast new supplies online. That means expensive heat and electricity this winter. In Europe, nations including the U.K., Italy, Spain, German and France are spending more money to mitigate the energy crisis and subsidize consumer energy bills than they devote to their military budgets, according to research firm Tellurian.

 

KEMMERER, WY - NOVEMBER 22: A coal mine operated by Westmoreland Coal is seen November 22, 2022 in Kemmerer, Wyoming. The coal from the mine is used to run the nearby Naughton power plant, which will be decommissioned in 2025. The mine will continue to operate. (Photo by Natalie Behring/Getty Images) More

Here are some of other unwanted and unforeseen consequences of the premature retirement of fossil fuels:

The resurgence of coal. A shortfall of natural gas for electricity generation in the United States, Europe and other parts of the world is forcing utilities to burn more coal—the dirtiest of all fossil fuels—and to a lesser extent, oil. Natural gas is the cleanest-burning fossil fuel, with fewer emissions than coal or oil. But the blockage of new pipelines and drilling in some areas is keeping supplies tight, pushing prices up and forcing utilities to find cheaper alternatives.

“During the past decade, the anti-natural-gas campaigns have put gas into the basket with oil and coal,” Shaffer said at the Dallas conference. “Extreme policy against natural gas doesn’t lead to more consumption of renewables, but to higher consumption of oil and coal.” She points out that many existing utilities can easily switch their feedstocks from gas to coal or oil without any public notice, especially in Europe.

[Follow Rick Newman on Twitter, sign up for his newsletter or sound off.]

The International Energy Agency (IEA) expects the global demand for coal to reach an all-time high in 2022, largely because of the rising cost and scarcity of natural gas. Coal prices have doubled from pre-COVID levels, reviving an industry many thought was headed for extinction. “We’re seeing coal come back on the market,” Paul Dabbar of Columbia University said at an October energy conference sponsored by the university. “The odds are emissions are probably going to head in the wrong direction this year as a result of energy security going backwards.”

Natural gas production in the United States—now the world’s largest provider—has also flatlined since 2019, following a decade-long production surge triggered by new fracking technology. The Appalachian Basin stretching from New York to Alabama is one of the largest natural gas reservoirs in the world, but at least five pipelines that could transport that gas to American consumers and to U.S. export terminals have been blocked.

Nobody protests the building of a natural gas pipeline because they want utilities to burn more coal, yet that’s what is happening.

An American energy shortage. The United States is the world’s largest oil and natural gas producer, yet some parts of the country are likely to endure soaring prices and even rationing of the energy required to stay warm this winter. Residents of the Northeast are most vulnerable, because there aren’t enough pipelines bringing gas there from other parts of the country. The Northeast can import gas by ship, but seaborne gas prices have soared as Russia shut off gas pipelines to Europe and those nations looked for new sources. The ancient 102-year-ld Jones Act essentially prevents cheaper seaborne shipments of American gas from Gulf Coast ports. Some Northeast consumers use heating oil as an alternative to gas, but those prices have skyrocketed because heating oil is similar to diesel, which is scarce because of tight refining capacity, a ban on Russian diesel imports, and a variety of other factors.

Some Americans enjoy abundant energy and cheap prices, but Northeasterners may as well live in a different country.

The growing leverage of autocratic energy producers. It’s in Europe’s and America’s interest to become less dependent on oil and gas from undemocratic suppliers such as Saudi Arabia and Russia. Yet government and market pressure to curtail drilling in democratic nations gives autocratic fossil-fuel providers more leverage, not less. Unlike the Biden administration, Saudi Arabia and other Persian Gulf petro-states control domestic energy production and can direct investments required to secure future output. In the United States, by contrast, drillers are reluctant to produce more because they fear a future profitability crunch once renewables take over. The president can ask them to drill more, but he doesn’t control the private sector the way OPEC autocrats rule their nationalized oil industries.

“Who’s going to be the last man standing in terms of who invests in fossil fuels?” Helima Croft of RBC Capital Markets said at the Columbia energy conference. “It’s going to be a small number of Gulf producers. We are still going to have to make asks of these countries when we need more oil.”

An energy advantage for China. American and European consumers pay the global price for oil. China pays less. That’s because China doesn’t participate in sanctions against Russia and Iran, and is therefore able to buy their energy products at a discount to global prices. “China has access to cheaper oil than any competing economy,” Shaffer said at the Dallas Fed conference. If that persists, it will give China—America’s top economic rival—an important cost advantage in key global industries just as the Biden administration is ratcheting up guardrails against China’s future domination. China could also become an oil and gas refining powerhouse if western economies continue to discourage oil and gas investment.

 

Power-generating windmill turbines and the church of the village are pictured during sunset at a wind park in Bethencourt, France August 11, 2022. REUTERS/Pascal Rossignol

What's Next?

President Biden and other green-energy advocates argue that the widespread adoption of renewable energy will solve these sorts of problems. Sun and wind captured on US territory will reduce the need for foreign energy. The plunging cost of renewable technology can make some forms of green energy cheaper than fossil fuels. Cornering the market for the next generation of energy technology will boost the US economy for decades.

That’s may all be true—in the future.

But the energy economy is massive, involving trillions of dollars of infrastructure devoted to the carbon fuel over the last hundred years. It can’t change nearly as fast green-energy advocates would like. There will be permitting and logistical problems building green-energy transmission and storage infrastructure, just as there are barriers to building oil or gas pipelines today. Some green-energy technologies won’t pan out. And some of the minerals needed, such as lithium, nickel and cobalt, come from China, Russia or other nations unfriendly toward the United States and the west, raising the same problem as relying on Saudi Arabia or Russia for oil.

Even with aggressive adoption of renewables, carbon fuel will remain dominant for decades. Research firm Energy Intelligence estimates that global demand for oil will grow, not shrink, until about 2030. Then demand will plateau for awhile, only beginning to decline by the late 2030s. Larry Fink, CEO of investing giant BlackRock, said recently that "we're going to need hydrocarbons for 70 years."

“We’ve underinvested,” Abhi Rajendran, director of oil markets research for Energy Intelligence, said at the Dallas Fed conference. “We’re underwater on the supply side. It’s a recipe for higher prices. It’s going to be a bumpy couple of years. We’ve been talking about consigning coal to the dustbin of history, but coal continues to boom, and oil’s going to be no different.”

Climate activists are pressuring banks and investing firms to blacklist oil and gas firms, prompting investing titans such as Steve Schwarzman of Blackstone (BX) and Larry Fink of BlackRock (BLK) to warn that the pullback is happening too soon and too fast. At the same time, American drillers are changing their business models after years of poor financial performance. For a decade leading up to 2020, the U.S. fracking boom brought vast new supplies onto the market, which kept oil and gas prices low. But low prices and too much supply hammered oil and gas profitability, culminating in massive losses when the 2020 COVID downturn struck.

There were more than 600 oil and gas bankruptcies between 2016 and 2021, with busted firms defaulting on more than $321 billion in debt. Exxon Mobil (XOM) alone lost $22 billion in 2020. Investors and shareholders who bore those losses now want a much faster return on investment, especially given efforts to shut the whole industry down. “The investor demands that we prioritize returning capital to our investors who gave us that capital in the first place,” Hellen Currie, chief economist for ConocoPhillips, said at the Dallas Fed conference. “This capital discipline mindset is now entrenched, and it’s why we don’t see more rigs or frack crews going to work.”

None of this is an argument to give up on combating global warming or transitioning to renewables. If anything, there’s a case for a faster and more aggressive transition. The IEA estimates it will take $2 trillion of global investment in green energy every year to limit global warming to the standing goal of a 1.5-degree Celsius increase by 2050. Actual investment only totals around $750 billion per year, which is why that goal is probably unrealistic. (“1.5 is dead,” the Economist declared recently.)

The Inflation Reduction Act that Biden signed in August includes about $400 billion in green-energy investments, including incentives that could generate far more in private investment. But one measure that fell out of that bill was a permitting-reform measure backed by Democratic Sen. Joe Manchin of West Virginia, which would speed federal approval for both carbon and green-energy projects. Industry officials say faster approvals are desperately needed, given that the time it takes to get a permit for a typical energy project now exceeds the time it takes to build it, according to Tellurian. State and local permitting requirements sometimes derail projects, too, which is why the Manchin bill would put new limits on the legal challenges local communities can bring.

 

Boston, MA - October 27: Newly installed Nexamp solar panels at the Local 103 headquarters in Dorchester. (Photo by David L. Ryan/The Boston Globe via Getty Images)

Biden, meanwhile, has threatened punitive action against U.S. oil and gas firms if they don’t increase production, such as banning exports or asking Congress to impose a windfall profits tax. Biden is probably bluffing, since doing either of those things could have the unintended effect of reducing production and pushing prices higher, not lower. But the threat itself, no matter how hollow, may be counterproductive, since it adds to Wall Street’s concerns about government hostility toward the industry, and squeezes the availability of financing even more.

'All of the above'

In 2014, President Barack Obama unveiled an “all of the above” energy strategy that promoted “environmentally responsible” oil and natural gas production along with renewables, nuclear power and other emerging technologies. “The simplest solution was Obama when he said ‘all of the above,’ Sarah Emerson, managing principal at ESAI Energy, tells Yahoo Finance. “We’re going to need it all, because the energy sector is so much bigger than anybody realizes.”

The basic principle for assuring a smooth transition from fossil fuels to renewables is to make sure there are ample supplies of all types of energy for as long as they’re needed.

Some climate activists favor policies that make fossil fuels more expensive, reasoning that costlier oil and gas makes renewables cheaper by comparison. One flaw in that logic is that fossil fuels and renewables are nowhere near interchangeable. Consumers in Massachusetts can’t import solar power from Arizona if heating oil gets too expensive. They just have to pay more and endure the consequences. The real-world substitution of coal for natural gas also highlights the classic risk of well-meaning policies that produce unintended consequences.

“What we’ve lost over the course of the last decade has been balance,” former Energy Secretary Dan Brouillette said at the Columbia energy conference. “Agreements tend to start with a climate focus, but we can’t focus on that exclusively. It has to be balanced with the needs of the consumer and the prices we’re seeing in the marketplace. It’s important that we think about increasing the supply of all forms of energy."

Natural gas, more than oil, could be the most potent stabilizing force during the transition to renewables.

At the Dallas Fed energy conference, Toby Rice, CEO of energy firm EQT, which operates in the Appalachian Basin, said the United States could more than double natural-gas production if pipelines and other infrastructure were in place to get gas to end users. Natural gas is the leading source of fuel for electricity production in the United States, and more gas would mean cheaper power for millions of households. It would also provide further relief for European nations trying to live without Russian supplies. Gas is “the biggest energy security blanket for Americans,” Rice said. “Get some pipelines built and U.S. oil and gas operators will step up.”

Gas is also part of the green-energy transition itself. Since wind and solar power aren’t always available, expanding their use on the grid requires a reliable “base load” that’s there if the sun isn’t shining or the wind isn’t blowing, and natural gas is the most appropriate fuel for that. “There’s this idea that if you use more renewables you use less natural gas,” Brenda Shaffer of the Naval Postgraduate School said in Dallas. “But it’s exactly the opposite. If you don’t commission enough natural gas, you can’t use enough renewables.”

Sarah Emerson of ESAI highlights hybrid automobiles as an example of how the transition to renewables has veered off-course. Hybrids, which have both a gas engine and an electric motor, grew popular from 2000 to 2015 as they offered the best fuel economy on the road with the reliability of a gas-powered engine. But most automakers have now dropped hybrids in favor of fully electric cars, even though EVs are expensive, the charging network is underdeveloped and most automakers don’t even turn a profit on EVs yet.

“Tell me why we abandoned hybrids,” Emerson says. “The original policy was let’s get to 45 miles per gallon, but hybrids got shunted aside because we got obsessed with EVs. People said, ‘We can’t have hybrids because we want to get rid of gasoline.’ But it might have been better to have another 10 years of hybrids and maybe then 10 years of EVs.”

Biden has tacitly acknowledged the need to secure more fossil-fuel supply. In October, the Energy Dept. said it plans to replace roughly 200 million barrels of oil released from the national reserve this year when the market price hits $70 per barrel or so. The government will also sign long-term contracts guaranteeing that price, which is unusual. The government normally refills the reserve at the spot price, with no advance notice of its purchase plans. Guaranteeing a price is meant to signal to producers that they can increase supply, knowing there will be at least one major purchaser buying at a price that lets them turn a profit.

But subtle signals may not be nearly enough to convince investors to finance big new fossil-fuel projects or producers to launch new battles with permitting authorities. And there are no signs of a truce in the war on fossil fuels. “There is not really a whole lot being done to fix the fact that we have underinvested, and plan for the fact that demand is going to go up,” Abhi Rajendran of Energy Intelligence said at the Dallas conference.

“I don’t," he added, "expect a whole lot to change.”

Consumers will bear the collateral damage.

Another pile of rubbish. Among all the wrongness I'll point out this one: 

"A shortfall of natural gas for electricity generation in the United States, Europe and other parts of the world is forcing utilities to burn more coal—the dirtiest of all fossil fuels—and to a lesser extent, oil."

Meanwhile in reality Q3 coal use in the US was down 16% from last year. Petroleum is also down and natural gas is up.

 

https://www.eia.gov/electricity/data/browser/#/topic/0?agg=2,0,1&fuel=vtvv&geo=g&sec=g&linechart=ELEC.GEN.HYC-US-99.Q~ELEC.GEN.NG-US-99.Q~ELEC.GEN.WND-US-99.Q~ELEC.GEN.TSN-US-99.Q~ELEC.GEN.NUC-US-99.Q~ELEC.GEN.COW-US-99.Q~&columnchart=ELEC.GEN.ALL-US-99.Q~ELEC.GEN.COW-US-99.Q~ELEC.GEN.NG-US-99.Q~ELEC.GEN.NUC-US-99.Q~ELEC.GEN.HYC-US-99.Q~ELEC.GEN.WND-US-99.Q&map=ELEC.GEN.ALL-US-99.Q&freq=Q&ctype=linechart&ltype=pin&rtype=s&pin=&rse=0&maptype=0

Edited December 7, 2022 by Jay McKinsey

[Starschy + 211]

The Weather is not the friend of the EU. MostNordic Countries are in the 2 til -5 C range. That includes Hamburg, Copenhagen, Helsinki, Stockholm, Danzig.

Those highly praised Gas storage has to proof. Remember a stock for 100 % which features only one Month is not the same as Hungary 50% for a 12 Month period.

[notsonice + 1,243]

52 minutes ago, Starschy said:

The Weather is not the friend of the EU. MostNordic Countries are in the 2 til -5 C range. That includes Hamburg, Copenhagen, Helsinki, Stockholm, Danzig.

Those highly praised Gas storage has to proof. Remember a stock for 100 % which features only one Month is not the same as Hungary 50% for a 12 Month period.

ha ha ha your posts show your Pal Putin is a desperate LOSER

He should paint L's on all of his Tanks..........

Gas storage in Europe is at over 90 percent today......on all time high for storage at this date compared to years past

Remember, we do not need Russia......Now can you say the same...Can Russia live without the West???

When you are unable to produce ammunition.... to supply your own troops ...your troops are nothing but cannon fodder

How many dead Russians on the front line in Ukraine to date???? more than 100,000

what do you value the life of each troop lost???

2 million dollars each? or a loss of $200 billion just is life alone in 8 months?????

At least you have more gas to keep warm by.........

Europe is making do without Russian gas.....Can Russia make do with out its people.

 

Boy it must  suck to be a Russian

 

PS Sweden is an all electric country.......Finland is 90 percent and will be 100 percent in the next year....No need for your Gas.......ha ha ha ha

 

 

 

[Jay McKinsey + 1,490]

Global Plug-In Electric Car Sales In October 2022 Increased By 55%

It was the second best month ever.

932,000 new passenger plug-in electric cars were registered last month. That's 55% more than a year ago and 16% of the total car market.

[Jeroen Goudswaard + 61]

On 9/14/2022 at 7:22 PM, specinho said:

there is a happy side to accept that simple calculation and acknowledge that sun light is free and available equally everywhere.... until you are surprised by unseen truth...........

 

This is a double rainbow.. The clearly visible one below is what we normally see and believe it is how it is.

 

The very vague rainbow on top of the red arrow might be the real one that rarely be seen or noticed...... Infrared comes in first hence, the red colour is showing first.

 

What we usually see is most likely a mirror image or reflection of it. I do not know the detail. Whoever notices the same thing and knows about it could probably chirp in, if you do not mind to share.......🤗

You can read up about it in Walter Lewin's book "For the love of physics". There is much more to say about rainbows than you think!

[bloodman33 + 22]

My 10 hamsters running on their wheels power my house yearly electricity use.  End of story.

[bloodman33 + 22]

Wind is America's largest source of renewable energy. Wind is the largest source of renewable electricity generation in the United States, providing 10.2% of the country's electricity and growing.

[bloodman33 + 22]

I have converted my car to methane.  I run a hose from my car to my butt and eat a lot of Jerusalem Artichokes. They work 10X better than beans.

[specinho + 457]

On 12/18/2022 at 11:25 AM, bloodman33 said:

Wind is America's largest source of renewable energy. Wind is the largest source of renewable electricity generation in the United States, providing 10.2% of the country's electricity and growing.

It probably is..............

<The Guinness Book of Amazing Nature>, pg 57

- 3 April 1974, 148 successive tornadoes whirled for 21 hours, traveling through 13 states of America, from Alabama to Ontario.

- tornado alley.... each year, approximately 700 tornadoes occur in this region.....

-

Edited December 23, 2022 by specinho

[Ron Wagner + 702]

On 12/17/2022 at 9:25 PM, bloodman33 said:

Wind is America's largest source of renewable energy. Wind is the largest source of renewable electricity generation in the United States, providing 10.2% of the country's electricity and growing.

Correct, however energy needs continue to grow even though we now, mainly use very energy efficient light bulbs. EV's will continue to increase energy needs. Blackouts are common due to increased power needs and the inability of wind energy to meet peak needs. Batteries are too expensive so natural gas should be relied on as needed, it is very clean. 

Don't forget that electricity is only part of the total power needed so total energy should always be the real gauge of our energy needs. https://www.americangeosciences.org/critical-issues/faq/what-are-major-sources-and-users-energy-united-states

Edited January 7, 2023 by Ron Wagner

[notsonice + 1,243]

the detnat of Siemens Gamesa erects first HKN turbin

The Death of Coal and now the death of Nat gas One turbine at a time...Enjoy the transition and the clean air..I am 

 

offshore wind.....where the wind keeps blowing 24/7

 

 17 April 2023 09:31  Offshore Wind

Siemens Gamesa erects first HKN turbine

759MW Crosswind project expected to deliver full power by the end of the year

 

The first of 69 wind turbines has been installed at the 759MW Hollandse Kust Noord offshore wind park at the North Sea, developed by CrossWind, a Shell and Eneco JV.

 

The wind park is expected to deliver first power to the Dutch grid by summer and be fully operational by the end of 2023.

 

CrossWind’s partners Siemens Gamesa Renewable Energy and Van Oord are using the offshore installation vessel Scylla to transport and install the turbines. 

Scylla sailed out with the first machine from the Eemshaven to the offshore HKN site last week and installed it on its foundation on April 15.

One Siemens Gamesa 11.0-200 DD wind turbine can generate up to 11MW. Once all 69 turbines are installed and commissioned, the Hollandse Kust Noord wind park will generate at least 3.3TWh per year. 

 

The installation of the machines is taking place around the clock, seven days a week. 

 

Wind turbine generator package manager at CrossWind Stefan Hartman said: "First the tower is installed on the monopile, then the nacelle on top of the tower. Then come the blades, which are usually the most critical lift with respect to weather conditions. 

 

"Blade installation will commence if there is a sufficiently long-time window of windspeeds below 12 metres per second. For comparison, this is a windspeed at which it becomes hard to hold an umbrella."

 

In the event of adverse weather conditions, construction work will be suspended. Weather permitting, the team onboard the Scylla can install one wind turbine in 24 hours.

 17 April 2023 09:31  Offshore Wind

Edited April 17, 2023 by notsonice

[Polyphia + 82]

36 minutes ago, notsonice said:

the detnat of Siemens Gamesa erects first HKN turbin

The Death of Coal and now the death of Nat gas One turbine at a time...Enjoy the transition and the clean air..I am 

 

offshore wind.....where the wind keeps blowing 24/7

 

 17 April 2023 09:31  Offshore Wind

Siemens Gamesa erects first HKN turbine

759MW Crosswind project expected to deliver full power by the end of the year

 

The first of 69 wind turbines has been installed at the 759MW Hollandse Kust Noord offshore wind park at the North Sea, developed by CrossWind, a Shell and Eneco JV.

 

The wind park is expected to deliver first power to the Dutch grid by summer and be fully operational by the end of 2023.

 

CrossWind’s partners Siemens Gamesa Renewable Energy and Van Oord are using the offshore installation vessel Scylla to transport and install the turbines. 

Scylla sailed out with the first machine from the Eemshaven to the offshore HKN site last week and installed it on its foundation on April 15.

One Siemens Gamesa 11.0-200 DD wind turbine can generate up to 11MW. Once all 69 turbines are installed and commissioned, the Hollandse Kust Noord wind park will generate at least 3.3TWh per year. 

 

The installation of the machines is taking place around the clock, seven days a week. 

 

Wind turbine generator package manager at CrossWind Stefan Hartman said: "First the tower is installed on the monopile, then the nacelle on top of the tower. Then come the blades, which are usually the most critical lift with respect to weather conditions. 

 

"Blade installation will commence if there is a sufficiently long-time window of windspeeds below 12 metres per second. For comparison, this is a windspeed at which it becomes hard to hold an umbrella."

 

In the event of adverse weather conditions, construction work will be suspended. Weather permitting, the team onboard the Scylla can install one wind turbine in 24 hours.

 17 April 2023 09:31  Offshore Wind

Sorry, but I just love that the installation vessel is named "Scylla."

[notsonice + 1,243]

Energy Transition

Record clean-power growth in 2023 to spark ‘new era’ of fossil fuel decline

Apr 17, 2023

This article first appeared on Carbon Brief

As per the climate think tank Ember, low-carbon sources will cover more than 100% of the growth in electricity demand by the end of 2023.

Image: Pexels/Kindel Media

Josh Gabbatiss

Author, Carbon Brief

 

• Coal, oil and gas are being pushed out of power grids by a record expansion of wind and solar, according to climate think tank Ember.
• It forecasts that low-carbon sources will cover more than 100% of the growth in electricity demand by the end of 2023.
• Ember says the 'phasedown' of gas and coal power required for the energy transition is 'now within reach', but that more nuclear and hydropower are needed.

The power sector is about to enter a “new era of falling fossil generation” as coal, oil and gas are pushed out of the grid by a record expansion of wind and solar power, according to new analysis by climate think tank Ember.

Wind and solar power reached a record 12% of global electricity generation last year, according to Ember’s global electricity review 2023. This drove up the overall share of low-carbon electricity to almost 40% of total generation.

With even faster growth set to continue this year, Ember says 2022 is likely to mark a “turning point” when global fossil fuel electricity generation peaked and began to fall.

The think tank forecasts that, by the end of 2023, more than 100% of the growth in electricity demand will be covered by low-carbon sources.

Experts broadly agree that global electricity generation needs to be completely decarbonised by 2040 if the world is to stay on track for its climate targets.

Ember says rapidly expanding renewables mean that the “phasedown” of gas as well as coal power required for this transition is “now within reach”. However, it also says stalling nuclear and hydropower construction needs to be reversed.

Meeting demand

Global electricity demand has been rising for decades, due to rising populations, increasing industrialisation and higher incomes.

Moreover, this trend is set to continue, particularly as more people switch their fossil fuel-driven cars and heaters to electric models. Demand will also increase as power is supplied to the 775 million people who still lack access to electricity.

To date, electricity demand growth has generally outpaced the rapid expansion of low-carbon sources, meaning emissions from the power sector have continued to rise. Any shortfall in meeting growth with low-carbon sources has been met by fossil fuels.

Yet low-carbon sources must ultimately begin to not only meet rising electricity demand but also start squeezing fossil fuels out of the mix, if global carbon targets are to be met.

In 2022, the expansion of wind and solar met 80% of the increase in electricity demand, Ember’s report shows. Combined with hydropower and bioenergy, renewables met 92% of the rise, coming close to covering rising demand.

At the same time, there was also a global drop in nuclear generation linked to outages in France and closures in Germany and Belgium.

[Boat + 1,323]

92% of new demand without FF is way ahead of schedule looking back a decade. It won’t be long any gain in the FF market will be considered Peak. How long till peak emissions then. 

[notsonice + 1,243]

3 hours ago, Boat said:

92% of new demand without FF is way ahead of schedule looking back a decade. It won’t be long any gain in the FF market will be considered Peak. How long till peak emissions then. 

 

Look in your rear view mirror, EMBER is stating that it may already have happened in Electricity production

https://www.weforum.org/agenda/2023/04/decarbonization-of-the-power-sector-is-underway-power-sector-emissions-may-have-peaked-in-2022-as-wind-and-solar-reached-record-heights/

 

 

Energy Transition

‘Decarbonization of the power sector is underway’: Power sector emissions may have peaked in 2022 as wind and solar reached record heights

Edited April 19, 2023 by notsonice

[Boat + 1,323]

On 4/19/2023 at 4:36 PM, notsonice said:

 

Look in your rear view mirror, EMBER is stating that it may already have happened in Electricity production

https://www.weforum.org/agenda/2023/04/decarbonization-of-the-power-sector-is-underway-power-sector-emissions-may-have-peaked-in-2022-as-wind-and-solar-reached-record-heights/

 

 

Energy Transition

‘Decarbonization of the power sector is underway’: Power sector emissions may have peaked in 2022 as wind and solar reached record heights

We’ll see over the next couple of years but peak oil because of transportation might have peaked as well. If oil does break the 2019 highs, it won’t be by much. Then the gradual decent as electric cars keep ramping up along with vans, pickups, semis, etc. This will feed the decarbonization effort. 

[notsonice + 1,243]

Turbine order intake sets Q1 record

Turbine order intake sets Q1 record

 

https://renews.biz/86070/turbine-order-intake-sets-q1-record/

Turbine order intake sets Q1 record

 30 May 2023

 30 May 2023  Offshore Wind[Image: GE]

 

 

Global wind turbine order intake hit a new Q1 record, with 23.5 gigawatts (GW) of activity, a 27% increase year-over-year (YOY), according to a new analysis from research and consultancy group Wood Mackenzie.

 

Activity was driven by a Q1 high set in China (15.2GW), best-ever Q1 growth in Latin America (1.7GW) and the US jumping to 1.8GW, more than doubling its 0.8GW in the same period in 2022 and surpassing its H1 2022 sum. 

 

In total, global orders hit an estimated $15.2bn, up $3bn YOY.

“China continues to be the overwhelming driver of global activity,” said Wood Mackenzie research director Luke Lewandowski.

 

“We do not see that slowing down anytime soon. What is encouraging is seeing certain areas outside China start to build momentum. Latin America had a record Q1, thanks to activity in Argentina and Brazil, and the US is seeing renewed confidence and order growth, partially thanks to the Inflation Reduction Act.”

 

While some areas outside of China experienced growth, overall activity from Western original equipment manufacturers (OEM) remained flat, with Q1 orders down 9% YOY. Strategies between these two markets remain fundamentally different, with China pushing growth strategies to meet local government renewable requirements and Western OEMs focusing on profitability.

 

“Western OEMs have remained very selective and disciplined in their activity, with the goal of improving profitability,” said Lewandowski. “Pricing has remained relatively level in markets like the US, where strategies such as measured technology development and price indexing have been employed by Western OEMs to expedite a return to profitability. This has also helped turbine pricing stabilize this quarter.”

 

Offshore wind orders saw a decrease of 12% YOY, but growth took place in Europe, which accounted for 3GW of offshore activity. Overall, offshore wind accounted for 13% of all orders in Q1. 

 

For the second straight quarter, Envision captured the largest share of new orders (3.6GW), followed by Vestas (3.3GW) and SANY (2.6GW).

[notsonice + 1,243]

Renewables to Hydrogen Production to Blast Furnace Iron making.........

Cleveland-Cliffs Completes Successful Blast Furnace Hydrogen Injection Trial at Middletown Works

May 08, 2023 1:40pm EDT Download as PDF

CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it has successfully completed a hydrogen (H₂) injection trial at its Middletown Works blast furnace. This groundbreaking introduction of hydrogen gas as an iron reducing agent in the blast furnace is the first ever use of this carbon friendly technology in the Americas region. The successful use of hydrogen gas represents a significant step toward the future decarbonization of blast furnaces, which are necessary for the continued service of the most quality-intensive steel applications, particularly for the automotive industry.

During the trial completed on May 8, 2023, hydrogen gas was injected into all 20 tuyeres at the Middletown #3 blast furnace, facilitating the production of clean pig iron – the foundation of high-end steelmaking. Hydrogen was used as a partial substitute for the coke necessary for iron reduction, ultimately replacing the release of CO₂ with the release of H₂O (water vapor) with no impact to product quality or operating efficiency. The hydrogen was delivered to the Middletown facility via the existing pipeline and transportation infrastructure in place for the facility’s other hydrogen uses, including for its annealing furnaces.

Lourenco Goncalves, Cliffs’ Chairman, President and Chief Executive Officer, said: “We are proud to be the first Company in the Americas to inject hydrogen into a blast furnace – a demonstration of our commitment to develop and implement breakthrough technological advancements toward decarbonization. Cleveland-Cliffs thrives on innovation, so it was fitting that this major step was completed just a short distance from our Cliffs Research and Innovation Center in Middletown, Ohio. This achievement proves our ability to use green hydrogen throughout our footprint when it becomes readily and economically available, including in our seven blast furnaces and our state-of-the-art direct reduction facility. We are already the world leaders in natural gas injection, and this success confirms there is a bright, sustainable and environmentally friendly future for the much needed BF-BOF steelmaking technology.”

About Cleveland-Cliffs Inc.

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. Cleveland-Cliffs is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its operations in the United States and Canada.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230508005542/en/

MEDIA CONTACT:
Patricia Persico
Senior Director, Corporate Communications
(216) 694-5316

INVESTOR CONTACT:
James Kerr
Manager, Investor Relations
(216) 694-7719

Source: Cleveland-Cliffs Inc.

Released May 8, 2023

[Rob Plant + 2,747]

On 6/2/2023 at 8:15 PM, notsonice said:

Renewables to Hydrogen Production to Blast Furnace Iron making.........

Cleveland-Cliffs Completes Successful Blast Furnace Hydrogen Injection Trial at Middletown Works

May 08, 2023 1:40pm EDT Download as PDF

CLEVELAND--(BUSINESS WIRE)-- Cleveland-Cliffs Inc. (NYSE: CLF) announced today that it has successfully completed a hydrogen (H₂) injection trial at its Middletown Works blast furnace. This groundbreaking introduction of hydrogen gas as an iron reducing agent in the blast furnace is the first ever use of this carbon friendly technology in the Americas region. The successful use of hydrogen gas represents a significant step toward the future decarbonization of blast furnaces, which are necessary for the continued service of the most quality-intensive steel applications, particularly for the automotive industry.

During the trial completed on May 8, 2023, hydrogen gas was injected into all 20 tuyeres at the Middletown #3 blast furnace, facilitating the production of clean pig iron – the foundation of high-end steelmaking. Hydrogen was used as a partial substitute for the coke necessary for iron reduction, ultimately replacing the release of CO₂ with the release of H₂O (water vapor) with no impact to product quality or operating efficiency. The hydrogen was delivered to the Middletown facility via the existing pipeline and transportation infrastructure in place for the facility’s other hydrogen uses, including for its annealing furnaces.

Lourenco Goncalves, Cliffs’ Chairman, President and Chief Executive Officer, said: “We are proud to be the first Company in the Americas to inject hydrogen into a blast furnace – a demonstration of our commitment to develop and implement breakthrough technological advancements toward decarbonization. Cleveland-Cliffs thrives on innovation, so it was fitting that this major step was completed just a short distance from our Cliffs Research and Innovation Center in Middletown, Ohio. This achievement proves our ability to use green hydrogen throughout our footprint when it becomes readily and economically available, including in our seven blast furnaces and our state-of-the-art direct reduction facility. We are already the world leaders in natural gas injection, and this success confirms there is a bright, sustainable and environmentally friendly future for the much needed BF-BOF steelmaking technology.”

About Cleveland-Cliffs Inc.

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. Cleveland-Cliffs is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000 people across its operations in the United States and Canada.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20230508005542/en/

MEDIA CONTACT:
Patricia Persico
Senior Director, Corporate Communications
(216) 694-5316

INVESTOR CONTACT:
James Kerr
Manager, Investor Relations
(216) 694-7719

Source: Cleveland-Cliffs Inc.

Released May 8, 2023

Dont let Mark Lawson see this as he will be most upset and revert back to his 10 year old articles that are all out of date on hydrogen.

Wonder how his book is going?

Edited June 5, 2023 by Rob Plant
Adding content

[notsonice + 1,243]

9 hours ago, Rob Plant said:

Dont let Mark Lawson see this as he will be most upset and revert back to his 10 year old articles that are all out of date on hydrogen.

Wonder how his book is going?

Wonder how his book is going? last I checked he has not sold a copy on the river......Wonder what it cost him to get the book printed????? Lots of vanity press out there who will print anything for a fee

[specinho + 457]

14 hours ago, notsonice said:

Wonder how his book is going? last I checked he has not sold a copy on the river......Wonder what it cost him to get the book printed????? Lots of vanity press out there who will print anything for a fee

"... on the river..."?

It means the book has not landed for sale...? '-'

Edited June 6, 2023 by specinho

[notsonice + 1,243]

13 hours ago, specinho said:

"... on the river..."?

It means the book has not landed for sale...? '-'

on the river????? you must ask???? Amazon is the big river

it is for sale, but no sales...........

 

if you can not get a sale on the river....you truly are on the bottom.....a zero sales rank is a zero

 

[Rob Plant + 2,747]

10 hours ago, notsonice said:

it is for sale, but no sales...........

Oh dear poor Mark

it might have been useful for him to do some proper research first not listen to one guys massively outdated views.

Oh well you live and learn.