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DAILY ENERGY NEWS | 12/24/2024
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** Sam Altman is asking Santa for some coal (fired electricity) in his stocking.
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Wall Street Journal ([link removed]) (12/20/24) reports: "OpenAI’s new artificial-intelligence project is behind schedule and running up huge bills. It isn’t clear when—or if—it’ll work. There may not be enough data in the world to make it smart enough. The project, officially called GPT-5 and code-named Orion, has been in the works for more than 18 months and is intended to be a major advancement in the technology that powers ChatGPT. OpenAI’s closest partner and largest investor, Microsoft, had expected to see the new model around mid-2024, say people with knowledge of the matter. OpenAI has conducted at least two large training runs, each of which entails months of crunching huge amounts of data, with the goal of making Orion smarter. Each time, new problems arose and the software fell short of the results researchers were hoping for, people close to the project say...During a training run, researchers hunch over their computers for several
weeks or even months, and try to feed much of the world’s knowledge into an AI system using some of the most expensive hardware in far-flung data centers. Altman has said training GPT-4 cost more than $100 million. Future AI models are expected to push past $1 billion. A failed training run is like a space rocket exploding in the sky shortly after launch."
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** "Of all the changes that could be made in the name of fighting climate change, it’s hard to imagine something more hazardous than making streets darker at night."
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– Austin Gae & Alex Gonzales, The Heritage Foundation ([link removed])
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Who said coal is dead?
** CNBC ([link removed])
(12/23/24) reports: "India aims to phase out coal imports in the long run. The government plans to remove the blending mandate for imported coal in thermal power plants (TPPs). Government sources told CNBC-TV18 that the blending mandate discourages domestic coal use in favour of imported coal. Beneficiation of coal involves removing impurities to enhance its calorific value per unit. With the revised government regulations allowing the power sector to procure coal at 100% of its Annual Contracted Capacity (ACQ), government sources said there’s sufficient domestic coal available. Current coal imports are primarily driven by convenience rather than necessity. Sources also noted that reports indicate reduced downtime for thermal power plants, which will lead to less unpredictability in power generation...The Coal Ministry is undertaking an initiative to reduce coal imports and promote exports to bolster the country’s energy security, capitalizing on increased domestic production. In FY24,
India’s coal production surged by 11.65% to reach 997.26 MT, surpassing the previous year’s figure of 893.19 MT. The ministry has set an ambitious target of 1,080 MT for FY25."
I repeat, who said coal is dead?
** ([link removed])
If at first you don’t succeed, bribe people with taxpayer money.
** Texas Public Radio ([link removed])
(12/23/24) reports: "A South Texas coal-fired power plant will receive more than $1 billion in funding from the U.S. Department of Agriculture to convert into a solar and battery facility, according to the agency. The switch by San Miguel Electric Cooperative, located in Christine in Atascosa County, to a solar and battery plant will be funded by more than $1.4 billion of a $4.37 billion federal grant to support clean energy while maintaining rural jobs. With the co-op’s transition to a renewable energy plant, only 14 coal-fired power plants will be left in the state. In September, the CEO of San Miguel Electric Cooperative, Craig Courter, told a local newspaper that with federal funding, the co-op can 'virtually eliminate our greenhouse gas emissions'...San Miguel will still need to establish a timeline for shutting down the coal plant. Still, it’s a 'historic victory' for South Texas, said James Perkins, a Sierra Club Texas campaign organizer. Other co-ops in Arizona, Colorado, Florida,
Georgia, Minnesota, and Nebraska received similar federal funding."
Energy Markets
WTI Crude Oil: ↑ $70.08
Natural Gas: ↑ $3.84
Gasoline: ↑ $3.04
Diesel: ↑ $3.50
Heating Oil: ↑ $222.93
Brent Crude Oil: ↑ $73.47
** US Rig Count ([link removed])
: ↓ 572
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