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MORNING ENERGY NEWS | 07/15/2021
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** Oh wait, we already did. See below 👇
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MIT Technology Review ([link removed]) (7/14/21) reports: "A few lonely academics have been warning for years that solar power faces a fundamental challenge that could halt the industry's breakneck growth. Simply put: the more solar you add to the grid, the less valuable it becomes. The problem is that solar panels generate lots of electricity in the middle of sunny days, frequently more than what's required, driving down prices—sometimes even into negative territory. Unlike a natural gas plant, solar plant operators can't easily throttle electricity up and down as needed, or space generation out through the day, night and dark winter. It's available when it's available, which is when the sun is shining. And that's when all the other solar plants are cranking out electricity at maximum levels as well."


** The Solar Value Cliff
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Institute for Energy Research ([link removed]) (8/23/17) reports: "Media headlines touting the falling costs of solar power do not tell the full story. While the manufacturing and installation costs of solar are in fact falling, solar’s value to the electricity grid is also in decline. Solar power is reaching a steep drop-off point beyond which additional solar production contributes no additional capacity to the grid, and indeed begins to actively harm the grid’s reliability and economics. The Solar Value Cliff: The Diminishing Value of Solar Power ([link removed]) explores this phenomenon."


** "What is certain is that [the drive to a 'net zero' economy] will involve spending immense sums of money — other people’s money. Sometimes those costs will be borne by the taxpayer, sometimes by the consumer, sometimes by industry, sometimes by investors, and sometimes by a combination of one or more of the foregoing."
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– Andrew Stuttaford, National Review ([link removed])

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They should have called it "Broke by 55".

** Wall Street Journal ([link removed])
(7/14/21) editorial: "Brussels wants you to know that Europe’s finest bureaucrats are Thinking Big about climate change, and on Wednesday they released a comprehensive regulatory and spending plan to prove it. Call it an awe-and-shock strategy: They hope voters will be so awe-struck at its grand ambitions that they won’t have time to be shocked by what’s in it. Called 'Fit for 55,' the European Commission says the aim of its program is to reduce the European Union’s carbon emissions by at least 55% from 1990 levels by 2030. This is supposed to put Europe on track to become 'the world’s first climate-neutral continent' by 2050. The big Brussels reveal consists of hundreds upon hundreds of pages of proposed legal changes and spending commitments. The trouble will be what’s in the fine print. The headline pledges will be difficult enough. Brussels wants to ban sales of new internal-combustion cars by 2035 and subject aviation to the EU’s emissions-trading system—good luck taking a vacation on
a budget."

They're coming to get you, Barbara.

** Mining.com ([link removed])
(6/13/21) reports: "A silver mine in Bosnia and Herzegovina that sat derelict through the years of civil strife that gripped the region from the early 1990s may soon be taken out of mothballs to benefit from an optimistic price outlook. Adriatic Metals Plc’s Vares project could resume production by the end of 2022 following a hiatus of more than three decades, according to Chief Executive Officer Paul Cronin. It’s part of a nascent trend toward restarting so-called 'zombie' mines — operations which have been shuttered for reasons varying from weak prices to owner bankruptcy or political unrest."
** ([link removed])

Energy Markets


WTI Crude Oil: ↓ $72.74
Natural Gas: ↓ $3.64
Gasoline: ↑ $3.16

Diesel: ↑ $3.27
Heating Oil: ↓ $213.36
Brent Crude Oil: ↓ $73.34
** US Rig Count ([link removed])
: ↓ 531



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