natural gas now
Tom Shepstone
Shepstone Management Company, Inc.
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Readers pass along a lot of stuff every week about natural gas, fractivist antics, emissions, renewables, and other news relating to energy. This week:
- Biden fights another pipeline!
- Fractivism has consequences!
- Enviros say “Whoa” to reality.
- Cooling you say?
- Thriving Tigers and Bears?
- The Worst Ruling Class…Ever!
As usual, emphasis is added.
Biden Trying to Kill Another Pipeline to Help Russia?
Is Biden colluding with Russia, blinded by climate alarmism, rewarding hedge-fund investors in renewables, sticking it to Jews or all of the above?
Washington no longer supports the proposed EastMed gas pipeline from Israel to Europe, according to a Jerusalem diplomatic source.
The Biden administration reportedly informed Israeli, Greek, and Cypriot officials in recent weeks of its change in attitude…
In January 2020, the EastMed Pipeline accord was signed by leaders of Israel, Greece, and Cyprus.
If approved, the underwater pipeline would stretch across the Mediterranean Sea, directly connecting east Mediterranean energy resources – Israel – to Greece and other European regions via Cyprus.
Construction of the pipeline is estimated to cost some $6.86 billion and is expected to be completed by 2025.
Despite previous support and being of top importance to the European Union, Washington retracted its backing due to environmental concerns as well as possible problems with financial viability.
The most corrupt President ever…
Hat Tip: G.R.
Opposition to natural gas development, in whatever form it takes, has real world impacts:
As the pandemic enters year three, more households are having to cut down on the quantity and quality of food they consume, the World Bank said in a note last month, noting that high fertilizer prices were adding to costs. Around 2.4 billion people lacked access to adequate food in 2020, up 320 million from the year before, it said. Inflation rose in about 80% of emerging-market economies last year, with roughly a third seeing double-digit food inflation, according to the World Bank.
Diammonium phosphate, or DAP, a commonly used phosphate fertilizer, cost $745 per metric ton in December—more than double its 2020 average price. December prices for Eastern European urea, a widely exported nitrogen fertilizer, were nearly four times the 2020 average.
[…] Tony Will, chief executive of CF Industries Holdings Inc., a leading nitrogen fertilizer manufacturer based in Deerfield, Ill., said he expected lower fertilization levels this year to result in reduced agricultural yields. The company has only reopened one of the two U.K. plants it closed in September, citing high natural-gas prices and low availability of truck drivers. Plants in North America, where gas prices are lower, are running at maximum capacity, Mr. Will said.
Industry experts say European production is likely to be constrained as long as natural-gas prices remain high there, with shortages in parts of the developing world amplified by trade restrictions in other major fertilizer exporters.
Yeah, kill fracking and you starve people. That’s the reality.
Hat Tip: C.T.
Europe Plans to Confronts Reality, But Enviros Say Whoa!
The New York Times headline and the lede say it all, don’t they?
Europe Plans to Say Nuclear Power
and Natural Gas Are Green InvestmentsThe draft proposal could help unleash a wave of investment, but critics say both sources of energy cause damage to the environment.
How little connection or concern today’s environmentalists have with reality.
Hat Tip: J.S.
That can’t be right…we’ve been told…
Our results could give us a new perspective on the evolution of the Earth’s dynamics. They suggest that Earth, like the other rocky planets Mercury and Mars, is cooling and becoming inactive much faster than expected.
A little scientific perspective, always helps, don’t you think?
Hat Tip: V.F.
Thriving Tigers and Polar Bears? What Gives?
Facts are such stubborn things:
The media says climate change and economic development has lead to the collapse of natural ecosystems. But how much of it is true? CO2 Coalition Research Associate Vijay Jayaraj visits the Mudumalai Tiger Reserve in Southern India, which is at the heart of the tiger population revival.
Don’t you love it?
Hat Tip: G.W.
How the Hedge Funders Invested in Green Grifting
Plan to Get Rid of the Competition
The world’s elites had a ball with the Wu-Flu as they grew their wealth by enormous amounts, while killing competition from Main Street and now they want to kill oil and gas competition as they seek to make trillions from green grifting:
It’s unlikely a renaissance is coming to the shale patch for one straightforward reason: Wall Street’s commitment to financing ESG projects will put a damper on emission-heavy projects.
Citigroup released a report earlier this week outlining its commitment to achieving net-zero emissions associated with its financing by 2050. To do this, the report said the bank’s Energy and Power loan portfolio will aim to achieve an “absolute reduction” in emissions from companies across its energy loan portfolio of 29% by 2030. It expects financed emissions for the Power sector to be reduced by a 63% reduction in portfolio emissions intensity by the end of the decade. It stressed that clients who don’t meet their targets would be dropped.
Known thine enemy; Citigroup, BlackRock, Morgan-Stanley and all the other big banks invested in ESG, not to mention the World Economic Forum where you find this admission:
https://twitter.com/ConceptualJames/status/1484355983082094598?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1484355983082094598%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fnotthebee.com%2Farticle%2Fget-rekt-the-elites-at-the-wef-are-upset-that-the-majority-of-people-in-nations-around-the-world-are-trusting-them-less
The arrogance. The condescension. The lack of self-awareness. It’s stunning how truly awful today’s ruling class truly is. And, these are the people behind ESG. Fight it!
Hat Tip: R.N. and D.S.
Re: Biden Trying to Kill Another Pipeline to Help Russia?
How does the U.S. withdrawing support for a pipeline that hasn’t even started for a gas project that has drilled no wells help the Russians? They already ship gas in the “Blue, South and Turk Stream” pipelines through the dictator Erdogan’s Turkey, Bulgaria, Romania and Moldova? How will a measly $7 billion stop this venture? Microsoft announced plans to spend $68 billion that amount to an electronic game company.
The Bank of Cyprus is referred to as the “Bank of Spies” for all the shady transactions the Russians (and others) pass through it. Maybe the Bank of Cyprus could rustle up a few billion from Putin and his oligarchs.
Re: Cooling of the Earth’s Core
Here is a quote from a synopsis of the study referenced in this part of Saturday’s post in Science Daily (sciencedaily.com/releases/2022/01/220114115640.htm) “Radiative thermal conductivity of single-crystal bridgmanite at the core-mantle boundary with implications for thermal evolution of the Earth”:
“Still unanswered, though, are the questions of how fast the Earth cooled and how long it might take for this ongoing cooling to bring the aforementioned heat-driven processes to a halt.”
In other words, big effing deal. It is just a preliminary study the “V.F.” is using to make a point about the science finding new stuff that might let people like him criticize scientific ideas today.
A century from now, when it likely that everyone reading this site is long dead, the cooling will have no effect on the Earth’s surface. It takes even small planets billions of years for their cores to freeze up. That is plenty of time for far more evolved earthlings to have found new solar systems and planets to live on. Besides, the sun turns into a Red Giant star and swallows the earth in 4-5 billion years; it will be plenty warm then.