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De Omnibus Dubitandum - Lux Veritas

Thursday, August 27, 2015

The Changing World of Energy Production Will Change Everything!

Benny Peiser's Global Warming Policy Foundation Reports China is Curbing It'sRenewable Energy Subsidies - Good Thinking -And Shale Revolution 2.0 Could Depress Oil Prices For A Generation
Editor's Note - What we need is clarity! This business about fracking/drilling for new oil and gas sources is going to more than drop the price of energy for a generation - it's going to change the world geopolitically! Muslim Middle East countries are in big trouble from this point on. Most of them can't properly feed themselves, don't have an infrastructure to promote industrialization, have no deep water navigation potentials, their populations are largely uneducated and lack technical know how to operate a modern industrialized society, their leadership is corrupt and each of these Muslim countries are fractured internally by religious differences and geographic obstacles that have made them adversaries for hundreds of years.  They are in fact midieval tribal societies with modern weapons who hate each other more than they do outsiders - whom they hate with unbridled passion.

None of that changed except for the one thing - they have oil – and the industrialized world's overwhelming need for it gave them the financial wherewithal to appear to be real countries.  That’s going to change radically now.  Furthermore there’s going to be a great deal of competition to occupy or control their neighbors within the next five years - from Turkey to Saudia Arabia and from Egypt to Pakistan, the entire Middle East is going to be a mess…..and the only stabilizing force in the world – the American military – will stay out of it!  The civilized world won’t need them any longer!  The Bretton Woods security blanket is about to be withdrawn, and that's going to alter the rest of the world also, including Europe! 
China Curbs Renewable Energy Subsidies – China’s wind and solar developers are getting much less than they anticipated in handouts from the government because of a quirk in subsidy policies, threatening to stymie growth in the world’s biggest market for clean energy. --Bloomberg News, 21 August 2015

Shale Revolution 2.0 Could Depress Oil Prices For A Generation – Shale oil is undergoing an unheralded productivity boom – the scale of which has not been seen since the early days of IT – that will depress oil prices for a generation. That is the stark view of Neptune head of research Chris Taylor. ‘A 321% productivity gain over four years is incredible. I have never seen an industry move like this since maybe very early IT at the beginning of the PC rollout and it hasn’t even finished yet,’ Taylor said. --James Phillipps, City Wire, 26 August 2015

Green Germany: Every Second Power Plant Faces Closure – Germany’s shift to renewable energy sources will have a greater impact on operators of traditional power plants than originally thought, according to new data from the country’s grid supervisor. Fifty-seven traditional gas and coal power plants are set to close in Germany as a consequence of Energiewende. “The situation for existing power plants is getting worse,” Müller said. “An ice age is looming for the construction of new plants too. Every second planned facility is hanging by a hair,” Hildegard Müller, head of the German Association of Energy and Water Industries said. --Deutsche Welle, 24 August 2015

Reality Check: India To Double Coal Production By 2020 - Coal consumption in India, particularly in the electric power sector, is outpacing India’s domestic production. From 2005 to 2012, India’s coal production grew by only 4.7% per year to about 600 million metric tons while the country’s coal-fired electric power capacity grew by a much faster rate (about 9.4% per year), reaching 150 gigawatts. To help resolve the shortfall in coal supply and to support expanded coal-fired generation, India has set a coal production target of 1.5 billion metric tons by 2020. --U.S. Energy Information Administration, 25 August 2015

India Will Not Follow China’s Climate Policy - India will not announce its peaking (peak emission) year, unlike China, in its ‘climate action plan’ which is to be submitted by the country to the UN body on climate change in September. --Vishwa Mohan, The Times of India, 25 August 2015

Britain’s North Sea Oil Industry Sets Course For The Scrapheap - Half a century after the founding of the North Sea industry, its biggest oil fields are mostly dried up. What remains is the crumbs that are not worth the time or investment of the biggest players. The North Sea was once the biggest single contributor to the exchequer, but this year it will hand over little more than £1bn, compared with more than £11.5bn just three years ago, according to the specialist adviser Hannon Westwood. The Office for Budget Responsibility reckons that the Treasury’s take between 2020 and 2040 will dwindle to a total of just £2bn, a 94% reduction on previous forecasts. The day when the North Sea goes from asset to liability is not as far away as one might think, not least because the taxpayer is on the hook for roughly 60% of the estimated £30bn decommissioning bill. --Danny Fortson, The Sunday Times, 23 August 2015

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