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MORNING ENERGY NEWS | |11/10/20|
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** Finally, some honesty about renewables.
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Renewable Energy Foundation ([link removed]) (11/3/20) talk given by Professor Gordon Hughes, School of Economics, University of Edinburgh: "The theme of my talk is the disparity between predictions about the future costs and performance of wind power (especially offshore wind) - the Rhetoric - and the actual evidence that is available on what it costs to build and operate wind farms and the amount of power they produce over their lifetime – the Reality... The reality of what will happen to the costs of key renewable energy and other low carbon technologies is critical. The UK Government’s strategy for meeting its Net Zero target at an affordable cost rests on the core assumption that the costs of wind power have fallen - and will continue to fall. There is, however, a major problem with all of the projections produced by official agencies, academics and other organisations. Put bluntly, they are the product of wishful thinking
applied to notional projects in the future with little or no connection to commercial reality."


** "The basic underlying 'green jobs' assumption is that we can destroy a substantial part of the economic value of the energy-producing and -using capital stock without impoverishing tens of millions of households and destroying employment opportunity on a massive scale. That is a delusion: More expensive energy means less employment, in that the causal relationships among energy costs, economic growth, and employment are strong."
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– Benjamin Zycher, AEI ([link removed])

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Four challenges for the net zero crowd.

** Forbes ([link removed])
(11/9/20) op-ed: "As a candidate, Joe Biden pledged to overhaul America’s electric grid so that it relies solely on 'clean' electricity by 2035. As president, Biden will find that overhauling our most important and most complex energy network – and doing so in just 15 years — is easier said than done. Decarbonizing our continent-spanning electric grid will require grappling with four big challenges: cost, keeping nuclear plants open, replacing natural gas in the power sector, and the ongoing land-use conflicts over renewables."

What? This is a bad thing?

** ([link removed])

Affordable, reliable energy has done more to "get climate under control" than anything a politician could ever dream of.

** E&E News ([link removed])
(11/9/20) reports: “I believe it’s this: Americans have called on us to marshal the forces of decency, the forces of fairness. To marshal the forces of science and the forces of hope in the great battles of our time. The battle to control the virus. The battle to build prosperity. The battle to secure your family’s health care. The battle to achieve racial justice and root out systemic racism in this country. And the battle to save our planet by getting climate under control."

Mobility for me, but not for thee.

** No Tricks Zone ([link removed])
(11/6/20) reports: "On average, climate researchers travel by plane more often each year than other scientists, the large, international survey and experimental study of academic travel found. Especially professors, fly more than other researchers."

Energy Markets


WTI Crude Oil: ↑ $40.74
Natural Gas: ↑ $2.89
Gasoline: ↑ $2.11

Diesel: ↑ $2.37
Heating Oil: ↑ $123.96
Brent Crude Oil: ↑ $42.99
** US Rig Count ([link removed])
: ↑ 369



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