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DAILY ENERGY NEWS | 01/13/2022
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** If only there was some way for Britain to produce its own reliable energy...
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CITY AM ([link removed]) (1/8/22) reports: "A wave of concern over the swelling cost of living is sweeping across Britain. While households are bracing for higher tax bills and are already being stung by food prices leaping, it is swelling energy costs that will hit hardest in 2022. The UK’s benchmark gas prices have quintupled since January 2021, leaping from £54 per therm to £245 per therm in December 2021. While tensions between Putin and the West might seem like distant political intrigue found in a tepid spy novel sold at an airport, the reality remains that domestic energy costs are beholden to European political stability. Britain imports a large proportion of its gas supplies from the Continent who, in turn, rely on Russia for around 35 percent of their own natural gas flows. When relations between Moscow and Brussels break down – just as they are now – the UK’s energy market often enters
a period of volatility...But, its primary source of renewable energy is wind power, which is volatile at best. During an unseasonal windless winter it has underperformed significantly, leaving the UK increasingly reliant on gas exported from Europe. The energy market is highly inefficient due to the intrusion of government policy."
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** "If renewables were cheaper than the status quo then the policies they advocate — no permitting of pipelines, restrictions on fracking, and subsidies for renewables — would not be necessary. Besides, mainstream energy experts and journalists today admit that weather-dependent renewables make electricity expensive."
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– Michael Shellenberger, Substack ([link removed])

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If at first you don't succeed, keep milking the taxpayers...

** Oilprice.com ([link removed])
(1/12/22) reports: "The U.S. Department of Energy has spent $1.1 billion on 11 carbon capture projects at coal-fired power plants and industrial facilities since 2009, most of which turned out to be failures and were never built, the U.S. Government Accountability Office (GAO) said in a recent report. The Department of Energy provided almost $684 million to eight projects for carbon capture at coal plants, only one of which resulted in an operational facility, the GAO found. Three projects, including two prior to receiving funding, were withdrawn, and one was built and entered operations, but halted operations in 2020 due to changing economic conditions. The DOE terminated funding agreements with the other four projects prior to construction...For the three industrial projects, the DOE has provided around $438 million since 2009. Two of the projects were constructed and entered operations. The third project was withdrawn when the facility onto which the project was to be incorporated was
canceled...In its recommendations, GAO said that 'absent a congressional mechanism to provide greater oversight and accountability—such as requiring regular DOE reporting on project status and funding—DOE may risk expending significant taxpayer funds on CCS demonstrations that have little likelihood of success.' DOE neither agreed nor disagreed with the recommendations, the GAO said in its report."

Even heroes need a break.

** ([link removed])

How naive can you get?

** Reuters ([link removed])
(1/13/22) reports: "German Defence Minister Christine Lambrecht on Thursday warned against drawing a link between the Nord Stream 2 pipeline, meant to transport natural gas from Russia to Germany, and the differences with Moscow over Ukraine. 'We should not drag (Nord Stream 2) into this conflict,' Lambrecht told the broadcaster rbb in an interview. 'We need to solve this conflict, and we need to solve it in talks - that's the opportunity that we have at the moment, and we should use it rather than draw a link to projects that have no connection to this conflict.'"

Energy Markets


WTI Crude Oil: ↑ $82.67
Natural Gas: ↓ $4.47
Gasoline: ~ $3.30

Diesel: ↑ $3.59
Heating Oil: ↑ $261.23
Brent Crude Oil: ↑ $84.90
** US Rig Count ([link removed])
: ↓ 696



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