Natural Gas Now Best Picks – June 10, 2023

Natural Gas Now Best Picks – June 10, 2023

Tom Shepstone
Shepstone Management Company, Inc.

Readers pass along a lot of stuff every week about natural gas, fractivist antics, emissions, renewables, and other news relating to energy.

This week: New England Solar Dream Goes Up in Smoke, Energy Reality Strikes Again and Why Does Every Stupid Western Policy Benefit China?

Look for these stories below, including links to the original articles!

New England Solar Dream Goes Up in Smoke

How many illustrations does it take to show the great green grifting scheme destroys any hope of energy security for the people who pay for it all?

For the sake of solar power, let’s hope Canada can bring its rampaging arsonists to heel. That’s because the shroud of smoke that covered much of the Eastern US seaboard, has sent solar power generation in parts of the eastern US plummeting by more than 50% as wildfires rage in Canada.

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This chart and the one below from the New England ISO tell everything one needs to know about solar energy. Add in the risk of unusual events such as Canadian forest fires and one can see there is no getting away from natural gas without greatly risking energy security.

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According to the region’s grid operator, solar farms powering New England were producing 56% less energy at times of peak demand compared with the week before. Meanwhile, Bloomberg reports that electricity generated by solar across the territory serviced by PJM Interconnection LLC, which spans Illinois to North Carolina, was down about 25% from the previous week…

“With a situation like this, it’s really unprecedented” in the Northeast, said Matt Kakley, a spokesperson for ISO-New England. “We don’t have a lot of historical data to look back on. There is some learning in real time.” Solar accounts for about 3% of power generation in New England.

Read the material the New England ISO puts out and you’ll see they superficially promote solar and crow about their successes, but dig deep and you’ll find the charts above and the real story, which is that green political correctness is pushing New England into what will a total energy disaster but, of course, the Big Ugly Green Grifter (BUGGs) have mansions elsewhere and they won’t feel any impact. Only the common man will suffer when solar yields zero energy, all the nuclear plants are gone and the region can only get a limited amount of natural gas due to lack of pipeline capacity.

Hat Tip: D.S. & R.N.

Energy Reality Strikes Again!

Here’s yet another illustration that political correctness ultimately always runs into a brick wall at some point, especially as it relates to oil and and natural gas:

Shell will keep oil output steady or slightly higher into 2030 as part of CEO Wael Sawan’s efforts to regain investor confidence as the energy giant wrestles with poor returns from renewables while oil and gas profits are booming, company sources said.

Sawan will announce at an investor event next week the scrapping of a target to reduce oil output by 1% to 2% per year having already largely reached its goal for production cuts, mainly through selling oil assets such as its U.S. shale business, the three sources said.

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Sawan, who took the helm in January with a vow to improve Shell’s performance as its shares lag rivals, said oil and gas will remain central to Shell for years to come, insisting that efforts to shift to low-carbon businesses cannot come at the expense of profits.

His more cautious approach to the energy transition marks a change in tack from his predecessor Ben van Beurden who introduced the carbon reduction targets and the energy transition strategy.

The story also shows us, once more, that green energy doesn’t make money except from green grifters organized specifically around cashing in on government subsidies from corporatist schemes. Real capitalists know it’s a short-term dead-end game with no money in it.

Hat Tip: B.T.

Why Does Every Stupid Western Policy Benefit China?

Seriously, is that not where Western leaders have taken us, especially compromised Joe Biden, who seems to have collected bribes from not only China, but also both Russia and Ukraine?

The world is fighting climate change which has caused a surge in demand for EVs, and since China controls most of the metals and rare earth minerals needed in EVs, China is being forced to burn more coal to help the world fight climate change.

How much coal does China burn now? …[A]s measured by CO2 emissions, China burns almost 4 1/2 times more than India, the second largest coal burner, and nearly eight times more than the US, the third largest coal burner.

Why does China burn so much coal? China has five times more coal-fired electric generating plants than the US and is opening new ones at the rate of two per week.

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How does coal consumption translate to CO2 emissions? …China is by far the biggest emitter of CO2 at 9.8 billion tons per year, which is 1.5 times the CO2 emissions of the U.S. and Europe combined.

We have the natural gas and oil to be completely energy dependent and self-sufficient. Why are we selling our soul to China?

Hat Tip: D.B.

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