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DAILY ENERGY NEWS | 12/12/2022
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** Of course this time the predictions will come true! As long as they can get another round of subsidies...
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CBS ([link removed]) (12/7/22) reports: "In just three years' time, the world will get more power from wind and solar sources than from coal, according to the International Energy Agency. The IEA predicts in a report that, over the next five years, the world will increase its renewable power capacity by 75% — an amount equivalent to the entire installed power capacity of China today. By 2027, the biggest source of the world's electricity will be solar power, followed by coal, natural gas and wind, the group said. 'Renewables were already expanding quickly, but the global energy crisis has kicked them into an extraordinary new phase of even faster growth,' IEA Executive Director Fatih Birol said in a statement. 'The world is set to add as much renewable power in the next five years as it did in the previous 20 years,' Birol noted."
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** "Maybe the 'worst climate policy decision of modern times' was to adopt climate policies that set the stage for the UK's current predicament?"
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– Mike Bastasch, Daily Caller News Foundation ([link removed])
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If renewable energy is free why are solar/wind bills up so much?
** Wall Street Journal ([link removed])
(12/11/22) reports: "Americans will have to pay the price for an uptick in damaging storms in the form of higher utilities bills for up to 30 years. Utility companies have invested heavily into strengthening their power grids in response to an influx of natural disasters, but those investments mean customers are the ones who will have to pay for the multibillion-dollar upgrades in their energy bills, the Wall Street Journal reported. Thanks to a spate of hurricanes and winter freezes over the past year, utility providers have taken on about $12.4 billion in debt and expect the amount to increase, advisory firm Saber Partners LLC told the Journal. Electricity and natural gas expenses from Winter Storm Uri — which wreaked havoc on the state of Texas in 2021, leaving millions without power and water for upwards of a week — alone could reach $13 billion, an expert said. 'Different customer groups are going to be paying over time. It may be different generations,' Saber Partners CEO, Joseph
Fichera, told WSJ."
Coal’s back on the menu boys!
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We have reached the farce stage of repeating history. At least in the old days, Luddites meant business.
** The Hill ([link removed])
(12/8/22) reports: "Climate activists briefly disrupted traffic at Munich airport in southern Germany Thursday, in a protest against the environmental impact of air travel. The group Last Generation said some of its members glued themselves to the tarmac in Munich, while others entered the grounds of Berlin airport. Henner Euting, a spokesperson for Munich airport, confirmed that the northern runway was briefly closed. Planes had to be routed over the southern runway, causing short delays, he said. A spokesperson for Berlin airport, Sabine Deckwerth, confirmed that a police operation was ongoing but said air traffic there was not disrupted. A similar protest recently at Berlin airport drew widespread condemnation from government officials and calls for tougher policing to stop activists interfering with air traffic."
Energy Markets
WTI Crude Oil: ↑ $72.15
Natural Gas: ↑ $6.84
Gasoline: ↓ $3.26
Diesel: ↓ $4.91
Heating Oil: ↑ $292.18
Brent Crude Oil: ↑ $76.73
** US Rig Count ([link removed])
: ↑↓ 859
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