Natural Gas Now Best Picks – October 15, 2022
Tom Shepstone
Shepstone Management Company, Inc.
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Readers pass along a lot of stuff every week about natural gas, fractivist antics, emissions, renewables, and other news relating to energy. This week; Chevron leads, Jamie explodes with truth and UK reverses on fracking.
Look for these stories below, including links to the original articles!
Finally, Some Real Leadership from the Oil and Natural Gas Industry!
If you’re as sick of the weak leadership from API as I am, you have to be thrilled the way Chevron is stepping up to the plate and taking on the phony overwrought global warming policy making:
The chairman and CEO of energy company Chevron warned the global energy crisis had been exacerbated by Western governments “doubling down” on green energy policies that will only cause “more volatility, more unpredictability, and more chaos.”
“If people want to stop driving, stop flying… that’s a choice for society,” he said.
“I don’t think most people want to move backwards in terms of their quality of their life… our products enable that.”
CEO Mike Wirth told Financial Times in an interview this week that the premature transition from fossil fuels to green energy, a move to decarbonize the economy, has sparked “unintended consequences,” such as energy supply issues that are already widespread in Europe and emerging in California.
Wirth continued that even though renewables, such as wind and solar, have been invested heavily by Western governments over the last two decades to decarbonize grids, fossil fuels still are a large percentage of power generation, adding politicians really need to hold an “honest conversation” about the energy crunch before things worsen.
“The conversation [about energy] in the developed world for sure has skewed towards climate, taking affordability and security for granted.
“The reality is, [fossil fuel] is what runs the world today. It’s going to run the world tomorrow and five years from now, 10 years from now, 20 years from now.”
…Wirth’s comments squarely blamed Western governments for the energy crunch and should also include Wall Street banks (cough cough BlackRock’s Fink), big tech companies, corporate elites, and other progressive organizations, such as The World Economic Forum, that have worked together to push a green energy agenda…
What’s become evident following the war in Ukraine and disruptions to global energy markets — is that countries that quickly increased investments in green energy and decommissioned fossil fuel power plants suffer the most (Germany is a prime example). The people who pushed green energy now say the world needs more and take no responsibility for the decarbonization movement backfiring (which has led to energy hyperinflation).
Wirth’s latest comments come as he warned US households to brace for soaring natural gas prices this winter. He has combated (read: here & here) the mindless folks at the White House who have blamed the oil and gas industry for the energy crunch.
The unintended consequence of decarbonizing economies too fast is energy hyperinflation.
Hooray for Chevron. This is the way to speak truth on to global warming power! Enough with the appeasement!
Hat Tip: I.G.
And, If You Thought Chevron Was Blunt, Pay Attention to Jamie Dimon
JP Morgan CEO Jamie Dimon, a reliable billionaire supporter of Democrats and one of the Big Bankers who generally likes to side up along World Economic Forum types and other grifters, and a fellow who has been effectively sucking off the Federal Reserve’s teat for a long time, must be worried because he’s suddenly speaking some hard truths, too:
In … comments made … during a JPMorgan investor seminar where he led a fireside chat moderated by JPMorgan’s Gergana Thiel, Dimon made some extremely outspoken comments which however you won’t hear on the mainstream media, telling a small group of listeners that was closed to the press that the “President of the United States needs to stand up and say we may not meet our 2050 climate objectives because this is a f…ing war.”
Jamie Dimon listening intently to a World Economic Forum presentation in 2013. Turns out he doesn’t have as much respect for them as they might have expected.
He also said “time to stop going hat in hand to Venezuela and Saudi and start pumping more oil & gas in the USA.”
Echoing what he has said before, Jamie said that energy independence is how the USA maintains its standing, as the future of the world is in pumping more oil and gas and using energy security to ensure Western unity.
And he did say when it comes to ESG “investors don’t give a shit” warning not to “cede governance to do-gooder kids on a committee.”
Does Jamie Dimon realize the Federal Reserve might not be there to bail him out when the Biden economy crashes down and takes everything with it as a result of his idiotic green energy, spending and regulatory policies? Is this a last desperate call for Biden’s controllers to stop the insanity? Or, an attempt to ensure they get the blame for the inevitable crash when the ESG tower crumbles?
Hat Tip: R.N.
And, for Further Proof of the Sham that Is Green Energy Policy…
The UK may have lifted its long-running ban on fracking last month, but its fracking industry still has one big hurdle that it must overcome: local opposition.
Fracking has been criticized for its reported ties to earthquakes and other environmental damage, and has fallen out of favor. The practice’s sullied reputation has led to its ban in several countries, including France, Germany, Spain, and until recently, the UK.
Despite its pariah status, fracking managed to make its way into the hearts and minds of Texans to eventually become the backing behind the United States’ rise to stardom within the global oil and gas industry. Fracking was able to make inroads in the U.S. shale patch precisely because locals benefited from the fracking activity by way of receiving money from the oil and gas taxes that the states collected, which then flowed into the areas that allowed it.
That those areas benefited greatly from the fracking dollars cannot be denied. Now Britain, too, is taking a page from the U.S. shale handbook: paying households £1,000 for allowing fracking in their areas. But the money will come directly from drillers rather than from industry tax revenue.
Drilling companies could soon go door to door in Britain, according to media reports on Monday, offering money in exchange for fracking support.
This article may seem a bit biased against fracking but pay attention to what is happening. England, which prided itself on government ownership of minerals and later its banning of fracking, has effectively had to reverse itself on both policies because green energy hasn’t and cannot deliver.
Hat Tip: R.N.
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