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MORNING ENERGY NEWS | 06/21/2021
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** The G7 wows the world, Biden is "in trouble" again, ARod takes BoJo's advice, Vegas is back, the ever shrinking infrastructure bill, and more on episode #41 of The Unregulated Podcast. Now streaming! ([link removed])
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** The show is available on all your favorite platforms including Sound Cloud ([link removed]) , Apple Podcasts ([link removed]) , Spotify ([link removed]) , Stitcher ([link removed]) , Podbay ([link removed]) , Blubrry ([link removed]) , and TuneIn ([link removed]) .
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** "For Africa and other emerging economies, a lack of energy could impair human and economic development. In fact, a dearth of investment coupled with a divestment campaign against oil and natural gas could be worse than the energy limitations imposed on Apartheid South Africa, denying them the ability to develop their own resources."
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– NJ Ayuk, Executive Chairman of the African Energy Chamber ([link removed])
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"The Science" be damned!
** Washington Examiner ([link removed])
(6/20/21) reports: "President Joe Biden is for the children. At least, that's what he says in his 'plan for a Clean Energy Revolution and Environmental Justice' and in his executive order on 'Tackling the Climate Crisis at Home and Abroad.' Climate change activists have said much the same. But by their own metrics, there are a few problems. Biden’s proposal to transition away from hydrocarbons such as oil, natural gas, and coal involves significant logistical, environmental, and economic challenges that flow from the acquisition, chemical processing, and refining of rare earth minerals that are essential for green energy. Moreover, the mining techniques used to obtain the minerals used in wind turbines, solar panels, and electric vehicles could put the children Biden champions in a compromising position. Those are just some of the major takeaways from a 287-page report from the International Energy Agency titled 'The Role of Critical Minerals in Clean Energy Transitions' that calls
attention to the massive costs and environmental impact of green energy materials. It is the climate change policies advanced through the Biden White House, as opposed to climate change per se, that jeopardize the health, wellness, and safety of the most vulnerable populations."
The high cost of solar trash.
** Harvard Business Review ([link removed])
(6/20/21) reports: "If early replacements occur as predicted by our statistical model, they can produce 50 times more waste in just four years than IRENA anticipates. That figure translates to around 315,000 metric tonnes of waste, based on an estimate of 90 tonnes per MW weight-to-power ratio. Alarming as they are, these stats may not do full justice to the crisis, as our analysis is restricted to residential installations. With commercial and industrial panels added to the picture, the scale of replacements could be much, much larger. The totality of these unforeseen costs could crush industry competitiveness. If we plot future installations according to a logistic growth curve capped at 700 GW by 2050 (NREL’s estimated ceiling for the U.S. residential market) alongside the early replacement curve, we see the volume of waste surpassing that of new installations by the year 2031. By 2035, discarded panels would outweigh new units sold by 2.56 times. In turn, this would catapult the LCOE
(levelized cost of energy, a measure of the overall cost of an energy-producing asset over its lifetime) to four times the current projection. The economics of solar — so bright-seeming from the vantage point of 2021 — would darken quickly as the industry sinks under the weight of its own trash."
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The question is, will the comfortably self-righteous elites who were outraged about blood diamonds bring the same level of attention to blood (aka "Green") energy?
CFACT (6/13/21) blog: "The newly released book '** Clean Energy Exploitations ([link removed])
' helps citizens attain a better understanding that just for the opportunity to generate intermittent electricity dependent on favorable weather conditions, the wealthier and healthier countries like Germany, Australia, Britain, and the U.S. continue exploiting the most vulnerable people and environments globally. Asians and Africans, many of them children from the poorer and less healthy countries, are being enslaved and are dying in mines and factories to obtain the exotic minerals and metals required for the green energy technologies for the construction of EV batteries, solar panels, and wind turbines. The same less-developed countries that control the supply chains for the materials to support the current electrification movement of wealthier nations, are mining for these materials in countries with virtually non-existent environmental regulations. This lack of oversight inflicts humanity atrocities and environmental degradation to the local landscape beyond comprehension. While at
least 80 percent of humanity, or more than 6 billion in this world are living on less than $10 a day, and billions living with little to no access to electricity, American politicians and mainstream environmentalists are pursuing the most expensive ways to generate intermittent electricity."
Energy Markets
WTI Crude Oil: ↓ $72.00
Natural Gas: ↓ $3.14
Gasoline: ~ $3.07
Diesel: ↑ $3.22
Heating Oil: ↓ $208.60
Brent Crude Oil: ↑ $73.60
** US Rig Count ([link removed])
: ↓ 538
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