While not from this week, it’s probably also worth mentioning the resuscitation of the US NOPEC bill in Congress.
OPIC is definitely the most ridiculous of the bunch though. Especially with the bargaining power of fossil fuel importers trending at multi-decade lows presently.
2 of those proposals are some kind of price control. The ESG cartel makes it harder to get financing for new wells limiting supply then the cartel wants to limit sale price, further limiting supply.
Pelosi. After the war on oil and gas by the Democrats and the ESG crowd, and they have successfully accomplished their goal of crimping supply, it is more than ludicrous to charge the oil companies with gouging. I hope people are smart enough to see the farcical nature of their anti gouging bill.
Sometimes I believe those "leaders" have been spending too much time at University and they don´t know how things are done in the "real" world where the common people live.
As an european, I´m quite affraid of what´s coming for us.
May 14, 2022·edited May 14, 2022Liked by Irina Slav
My heart goes out to the idea of just taking a random objective (40%) and dial it up a notch to 45%. And I can't keep myself from asking - why 45? Why not 46? Or if we're dreaming big, why not 50%? On the other hand, maybe 44% or 43% would be more realistic?
The point is - nobody knows if the EU will be able to pull this off. What they know that - according to their "current" models - this much (forecasted) renewable energy will save - again, theoretically - this much gas and ALL they care about at this moment is saving Russian bcms.
When I say "they", it's the political level. This new objective isn't coming from the policy people who know what's behind the numbers. And the political people will be gone in a few years and they won't have to deal with the fallout (e.g. that 50% of the time RES will be thrown away...)
Valid questions. We actually do know the EU can't pull it off the way they are planning to. The news from last week that 20 European companies have already opened ruble accounts at Gazprombank should be sign enough.
ROFLMAO Pelosi's was mine and she is still touting it. This is what upsets me with career politicians. They have never run a business, had to pay employees, and we put up with local, state and federal politicians mandates or just stupid recommendations that will not work and they actually know they will not work.
I do not know how she can even try to introduce this legislation as she has never set a price for a product. So Sad.
The EUs target is similar to the one in the UK. Vaclav Smil has some very interesting things to say about the practical speed of transition (particularly when the base from which you are transitioning is enormous). Armando, David and you make this point repeatedly on the excellent BAB chat. Any chance you guys could find jobs in Govt to sort this nonsense out? 😁
While not from this week, it’s probably also worth mentioning the resuscitation of the US NOPEC bill in Congress.
OPIC is definitely the most ridiculous of the bunch though. Especially with the bargaining power of fossil fuel importers trending at multi-decade lows presently.
NOPEC certainly deserves a spot in the race, yes.
Let's see what works out better: A buyer's strike on oil/gas or a seller's strike.
Easy to see that Draghi's a complete fool here.
BTW, he was the guy who had the idea of freezing of Russia's CB reserves.
Wonder how that will turn out regarding the confidence of other CBs in the USD...
Not well for the dollar, I fear.
2 of those proposals are some kind of price control. The ESG cartel makes it harder to get financing for new wells limiting supply then the cartel wants to limit sale price, further limiting supply.
They couldn't have done it better if they'd planned it. ESG cartel, indeed.
It MUST be wonderful to have so much great material provided by incompetent governments for FREE! Keep up the good work.
Unfortunately, the governments are NOT incompetent- everything they do is aimed in one obvious direction.
Wonderful is one way of putting it. I crave boredom.
What's the direction? I can think of a couple.
Energy poverty for all?
Ah, yes, the great equiliser.Still, some will be more equal than the rest.
Pelosi. After the war on oil and gas by the Democrats and the ESG crowd, and they have successfully accomplished their goal of crimping supply, it is more than ludicrous to charge the oil companies with gouging. I hope people are smart enough to see the farcical nature of their anti gouging bill.
It's very hard to argue with that.
I would have thought the former President of the ECB would understand supply and demand a bit better. “Whatever it takes” indeed...
That's what I thought and that's why I was not a little baffled by this suggestion.
Sometimes I believe those "leaders" have been spending too much time at University and they don´t know how things are done in the "real" world where the common people live.
As an european, I´m quite affraid of what´s coming for us.
Cheers!
I agree they don't seem to inhabit the same mental dimension as the rest of us. They might get forced to, sooner or later.
Never thought I’d live to see the day where real news headlines can easily be confused with The Onion headlines 🤣
Tell me about it!
My heart goes out to the idea of just taking a random objective (40%) and dial it up a notch to 45%. And I can't keep myself from asking - why 45? Why not 46? Or if we're dreaming big, why not 50%? On the other hand, maybe 44% or 43% would be more realistic?
The point is - nobody knows if the EU will be able to pull this off. What they know that - according to their "current" models - this much (forecasted) renewable energy will save - again, theoretically - this much gas and ALL they care about at this moment is saving Russian bcms.
When I say "they", it's the political level. This new objective isn't coming from the policy people who know what's behind the numbers. And the political people will be gone in a few years and they won't have to deal with the fallout (e.g. that 50% of the time RES will be thrown away...)
Valid questions. We actually do know the EU can't pull it off the way they are planning to. The news from last week that 20 European companies have already opened ruble accounts at Gazprombank should be sign enough.
It's not arrogant blindness it's diversionary theatre for the ongoing project of dismantling true democracy and the consolidation of power and wealth.
I can't think of one thing in the last decade that our political and economic rulers have got right to our benefit.
ROFLMAO Pelosi's was mine and she is still touting it. This is what upsets me with career politicians. They have never run a business, had to pay employees, and we put up with local, state and federal politicians mandates or just stupid recommendations that will not work and they actually know they will not work.
I do not know how she can even try to introduce this legislation as she has never set a price for a product. So Sad.
The EUs target is similar to the one in the UK. Vaclav Smil has some very interesting things to say about the practical speed of transition (particularly when the base from which you are transitioning is enormous). Armando, David and you make this point repeatedly on the excellent BAB chat. Any chance you guys could find jobs in Govt to sort this nonsense out? 😁
Not in a million years as far as I'm concerned. I won't last a month in a government job in the current, how should I put it, political context. :D