In 2020 the last year of the Trump presidency, the American economy reached a long-desired goal, energy independence. However, during Biden’s first days in the White House, he signed executive orders stopping drilling on federal land, including the much-desired drilling at ANWR in Alaska. He canceled the Keystone XL pipeline and recently announced is considering shutting down the L5 pipeline running from Michigan to Canada. . These executive orders sent energy companies a message that he intended to keep his promise to kill the fossil fuel industry. don’t ask OPEC
(Reuters) - Europe is at risk of power outages this winter due to insufficient gas reserves and over the long-term, oil could rise above $100 a barrel, the chief executive of commodity trading giant Trafigura said. ... "We haven't got enough gas at the moment quite frankly, we're not storing for the winter period. So hence there's a real concern that there's a potential if we have a cold winter that we could have rolling blackouts in Europe," Weir said at the FT Commodities Asia Summit. ... Some European lawmakers have accused Moscow of restricting supply to put pressure on Germany to speed up the authorisation of the Nord Stream 2 pipeline. Russia has denied this. ...
Climate change has put oil companies under pressure to shift away from polluting fossil fuels and the resulting drop in investment in new production is adding to the price pressure. "I think people need to recognise it's not a situation where you might just flick the switch and you increase production. There's a lot of investment, it takes some time to do that," said Weir. ... Privately owned Trafigura is one of the world's biggest energy traders
Aditya Chakrabortty: The project itself – supposedly a stark, bold, urgent idea – is a conceptual fog. Like some kind of policy peasouper, it nestles densely around arguments of ecological limits, social justice and economic transformation, allowing only a glimpse of their outlines. That suits many on the left, as it serves to obscure all their disagreements and so keep the peace just a little longer. ...
For AOC and today’s US left, it is about jobs (albeit “green” ones, a term far easier to deploy than to define) and infrastructure; for Lucas, Labour’s Clive Lewis and others currently pushing a green new deal through parliament, it includes citizens’ assemblies and a shorter working week. It is both “a green industrial revolution” in the north of England and debt cancellation for the global south; both low-carbon Keynesianism and nationalisation of the energy industry. It is, in other words, a big duffel bag stuffed with pent-up progressive demands and jumbled up with highly dubious history and tiresome war metaphors.
Late last week, the administration was reported to be in discussions with oil and gas executives, presumably to assure that the U.S. has adequate supply for the approaching winter. On the midstream front, the administration is searching for ways to improve energy “logistics.” It shouldn’t take the president and his National Security Council long to recognize that pipelines are the only feasible answer on the scale required for the U.S. economy. The new tack by the administration was born of political necessity, not a change of heart toward oil and gas. In fact, the administration had to exhaust the alternatives available to it before caving to the reality that the industry it vilified is needed to bolster its election prospects amid falling approval ratings.
Over the past few weeks, the administration requested more oil from OPEC. It suggested tapping the Strategic Petroleum Reserve. It even went so far as threatening to ban U.S. crude oil exports, apparently failing to recognize that such a move would precipitate a domestic energy catastrophe.
On the HadCRUT4 data, there has been no global warming for close to eight years, since March 2014. That period can be expected to lengthen once the HadCRUT data are updated – the “University” of East Anglia is slower at maintaining the data these days than it used to be.
Michael Shellenberger: A major new staff report from the New York Federal Reserve Bank throws cold water on the over-heated rhetoric coming from activist investors, bankers, and politicians. “How Bad Are Weather Disasters for Banks?” asks the title of the report by three economists. “Not very,” they answer in the first sentence of the abstract.
The reason is because “weather disasters over the last quarter century had insignificant or small effects on U.S. banks’ performance.” The study looked at FEMA-level disasters between 1995 and 2018, at county-level property damage estimates, and the impact on banking revenue.
UK Independent: "Your home, sometime in the next decade. You click the heating on and receive an app notification telling you how much of your carbon allowance you’ve used today. Outside in the drive, your car’s fuel is linked to the same account. In the fridge, the New Zealand lamb you’ve bought has cost not just pounds and pence but a chunk of this monthly emissions budget too. Welcome to the world of personal carbon allowances – a concept that is increasingly gaining traction among experts as a possible response to the climate crisis. Each month, it would see every person or household in the country given a limited emissions quota to spend on heating, energy, travel, food and possibly consumer goods. Those who wish to expend more could buy top-ups. Those who require less would be able to sell their left-overs back to the ‘grid’." ... Now, in the wake of Cop26, many feel the concept – radical, perhaps, but demonstrably do-able – has never been riper for consideration. So, could this be our future? ... “By establishing an equal monthly budget for everyone, you create a sense of a shared effort to address a shared problem,” says Fawcett.