Windfall

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DAILY ENERGY NEWS | 01/25/2023

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After decades of promising "free" energy the wind industry now assures us it is only a few trillion tax dollars, and a few endangered species, away from breaking through.

Epoch Times (1/24/23) reports: "Wind turbines across the United States have been failing more frequently in recent times, triggering concerns about additional costs resulting from such failures as well as their impact on wind-power projects. Offshore wind farms, deployed in the name of environmentalism, are now seen as disastrous for ocean life...The increasing costs resulting from turbine failures will only add to the difficulty of expanding wind power in America as it will make such power generation more expensive, and economically unfeasible. In the United States, the Biden administration has set a target of establishing 30 gigawatts of traditional offshore wind facilities in the country’s federal waters by the end of this decade. However, many wind-power projects are already facing cost issues. In Rhode Island, for example, utility regulators are weighing suspending Mayflower Wind Energy’s application to set up transmission cables for the first part of a proposed wind-power project off Massachusetts. The project costs $5 billion, and questions are being raised about its financial viability, according to the Institute for Energy Research (IER)."

"Every part of our material life is made better by fossil fuel derivates. They help us live more efficiently, safely and in an environmentally friendly way, reducing poverty and helping billions enjoy decent and safe lives."

– Vijay Jayaraj,
CO2 Coalition

The UK continues to learn that when you rely on the wind, and the wind doesn't blow, there's not enough electricity to go around.

Bloomberg (1/24/23) reports: "The UK’s grid operator asked three reserve coal units to be ready to supply power and consumers to curb demand on Tuesday, as it tries for a second consecutive day to plug the gap left by a dearth of wind generation. The measures demonstrate how vulnerable Britain remains to colder weather and fluctuations in wind output as it struggles to alleviate its energy crunch. Monday marked the first time British households were asked to help balance the network after freezing temperatures caused electricity demand to spike. National Grid Plc’s Electricity System Operator asked two units of Drax Group Plc’s coal station and one from Electricite de France SA’s West Burton plant to warm up from Tuesday just after 4 a.m. local time. After spending about £1.3 million ($1.6 million) Monday to incentivize households to save energy, the operator will seek to cut another 341 megawatts of demand on Tuesday between 4:30 and 6 p.m., according to its website. So far, the grid operator has been testing its Demand Flexibility Service to set incentives at the right level to entice consumers to take part. Last week Centrica Plc, the UK’s biggest energy supplier, said it would double payments to households willing to save power during peak demand times this winter."

If only the "greens" had a sense of humor. 🤣

Step 1: Force people into using EVs

Step 2: Force people to use worse EVs

Step 3: ?????

Step 4: Reach a green utopia

Wired (1/24/23) reports: "HUMANITY MAY NOT exactly be winning its battle to avert climate change, but the electrification of cars has begun to look like a success story. Ten percent of new passenger vehicles sold around the world last year were electric, powered by batteries instead of gasoline—the extraction of which costs the world not only in noxious carbon emissions, but in local environmental damage to the communities on the front lines. Still, that revolution has its own dirty side. If the goal is to electrify everything we have now, ASAP—including millions of new trucks and SUVs with ranges similar to gas-powered models—there will be a massive increase in demand for minerals used in batteries like lithium, nickel, and cobalt. That means a lot more holes in the ground—nearly 400 new mines by 2035, according to one estimate from Benchmark Minerals—and a lot more pollution and ecological destruction along with them. It’s why a new study published today by researchers associated with UC Davis tries to map out a different path, one where decarbonization can be achieved with less harm, and perhaps faster. It starts with fewer cars...Riofrancos and the team looked at paths to sunset gas-powered cars, but in a way that replaces them with fewer EVs, using smaller batteries. A future with millions of long-range, hefty eSUVs isn’t the default."

Energy Markets

WTI Crude Oil: ↓ $79.63
Natural Gas: ↓ $3.10
Gasoline: ↑ $3.48

Diesel: ↑ $4.66
Heating Oil: ↓ $338.77
Brent Crude Oil: ↓ $85.54
US Rig Count: ↓ 850

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