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DAILY ENERGY NEWS | 11/09/2021
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** You know things are bad when Steven Chu pops his head up. And by the way, where's Gavin?
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Bloomberg ([link removed]) (11/8/21) reports: "California’s last nuclear power plant, scheduled to close in 2025, could aid the fight against climate change, cut energy costs and provide water to the parched state if allowed to stay open, according to a new study. The findings won the support of former U.S. Energy Secretary Steven Chu, who in a web presentation said countries prematurely shutting down nuclear plants ended up using more fossil fuels instead. 'We are not in a position in the near-term future to go to 100% renewable energy,' said Chu, who was not one of the report’s authors. 'We will need some power that we can turn on and dispatch at will, and that leaves two choices: fossil fuel or nuclear.' PG&E Corp. reached an agreement with environmental groups in 2016 to shutter the Diablo Canyon nuclear plant when its operating licenses expire, saying the plant’s energy would no
longer be needed as cheap renewable power flooded onto the state’s grid. Since then, however, California’s energy supply has grown strained, with the state veering close to blackouts during heat waves. Researchers from Stanford University and the Massachusetts Institute of Technology said in the study released Monday that keeping Diablo Canyon open through 2035 would cut greenhouse-gas emissions from California’s power sector 10% each year, by reducing the amount of electricity needed from natural-gas plants. It would also save $2.6 billion for utility ratepayers."
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"We’ve done some important work since the Paris Agreement was signed six year ago, but we’re still nowhere near where we need to be on climate."
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– ([link removed]) Barack Obama ([link removed])

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Terry would have easily given this the green-light (pun intended). What will Glenn do?

** E&E News ([link removed])
(11/8/21) reports: "The country’s largest offshore wind farm just got a lot more expensive. Dominion Energy Inc. disclosed Friday that its plan to raise 180 turbines off the coast of Virginia Beach will cost ratepayers $2 billion more than previously thought. When the company first announced its preliminary plan for the Coastal Virginia Offshore Wind project in 2019, it estimated a cost to Dominion customers of $8 billion. The utility now expects that will be closer to $10 billion, said Bob Blue, president and CEO of Dominion Energy in a call with investors Friday. 'The cost increase can be attributed to, among other things, commodity and general cost pressures as seems to be the case across a number of industries right now,' he said. The Dominion project is unique in the United States as the only one brought solely by a state-regulated utility that plans to place the cost burden on its ratepayers, as well as earn a profit from the regulated return on the investment. It’s also the largest
single proposed offshore wind project in U.S. waters and one of the most expensive. The project’s fatter price tag could increase pressure on Dominion as it seeks approval from state regulators at the State Corporation Commission (SCC), who have already indicated they plan to scrutinize the offshore wind cost projections. Also Friday, Dominion filed its application for project approval with the SCC. Though it’s located in federal waters, the commission’s approval will be necessary for Dominion to advance the offshore project."

This all seems a little familiar...

** ([link removed])

Where could Joe have dreamed up with such a big idea?

Larry Fink is using scabs to keep his coal mine running. Yes, that Larry Fink. You can't make this stuff up, pipeline readers.

** New York Post ([link removed])
(11/5/21) reports: "A group of mine workers from Alabama who have been on strike for some seven months were arrested Thursday outside the New York City headquarters of BlackRock, the largest investment management company in the world. Six members of the United Mine Workers of America were arrested during a rally outside BlackRock, the largest shareholder of Warrior Met Coal, the $1.2 billion firm that operates several coal mines in Alabama. Nearly 1,000 Warrior Met Coal miners have been on strike against the coal company since April, when union members voted down a contract proposal. The strike has halted operations at one of the company’s two mines in Alabama, and has limited operations at the other, costing the company almost $7 million in its most recent quarter. The company has managed to keep up some operations at one of its mines using management staff and strikebreakers. Both coal mines are the deepest in North America, according to the union. 'These workers have had enough of this,'
said Cecil Roberts, president of the United Mine Workers of America, who was among those arrested Thursday at the rally, according to CNN. 'We’re not asking for something outrageous. We’re not wanting to be millionaires or anything like that. They’re basically wanting to get back to where they were five years ago.' Several dozen workers came to NYC from the Alabama picket lines for the rally. 'I’m on strike for my family and for my brothers and sisters in the mines. We go down there, it’s a dangerous job, put your life on the line,' said third-generation coal miner Brian Kelly, who was also arrested Thursday."

Energy Markets


WTI Crude Oil: ↑ $82.25
Natural Gas: ↓ $5.20
Gasoline: ↓ $3.41

Diesel: ↑ $3.64
Heating Oil: ↑ $249.46
Brent Crude Oil: ↑ $83.74
** US Rig Count ([link removed])
: ↓ 650



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