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On energy

Nearly four months have passed since Russia invaded Ukraine, and over the weekend Europe took its first major policy steps towards increasing energy security. Although Europe has taken several steps to reduce energy purchases from Russia, and although utilities have aggressively purchased gas (UNG) and coal (XAL1:COM) on seaborne markets, the official policy response thus far has been "more of the same." The continent has up until this point stuck with plans to reach net zero targets, the Netherlands stuck with plans to reduce coal power generation while shutting the continent's largest gas field, and Germany continues to plan for a shuttering of its nuclear power fleet (OTCPK:SRUUF).

However, over the weekend, Germany announced plans to restart mothballed coal power plants (BTU). German utility EnBW Energie signed 20-year contracts with Venture Global LNG for 1.5mtpa of US LNG supply. Austria, having eliminated coal from its power grid only two years ago, announced plans to prepare mothballed coal power stations for operation. And the Netherlands activated an "energy crisis plan" which calls for removing caps on coal fired power generation and producing 2.8bcm of gas from Groningen in 2023, versus prior plans to close the field entirely (XOM) (SHEL).

Seaborne coal prices have rallied ~10% from the time futures opened Monday in Asia, while European natural gas prices have rallied ~8% over the same period. Investors are likely to benefit from owning shares in companies able to sell energy into Europe (CVX) (TTE) (LNG), as the Kremlin attempts to reestablish control over European energy markets. However, with coal stocks trading at historically discounted valuations, while seaborne coal prices trade near record highs, and the world's foremost net-zero policymakers shift towards coal, it may be that the coal sector stands to benefit the most from upcoming results and contract announcements.

europe energy security

They saw the light or saw that the lights would go out if they didn’t act.

Dumbasses:

"But just as Europe needs energy the most, the wind in the North Sea has stopped blowing, forcing regional energy markets to scramble for gas reserves to heat homes and power businesses. This has had expensive consequences."


https://fortune.com/2021/09/16/the-...r-imaging-it-would-one-day-stop-blowing/

Well,
It turns out that Europeans don't want to live in the cold/hot/dark anymore than the rest of us do here.

#whodathunkit

This total worldwide abandonment of nuclear energy is simply inexplicable.

According to Reuters Australia put themselves between a rock and a hardplace recently...weather issues, the frantic rush to green energy and the crowning screwup....price controls on coal and gas, energy producers saying, nope, we'll stop producing before we operate at a loss. I think Australia is the worlds largest carbon energy exporter, now the lights go out...shows how wonderful the liberal government performs.

Stupid Femmanazi’s , Lesbonazis’s and Tofu Nazi’s Boyz moment of Civilization or Mass Disintegration.
I guess Ruling is really more important that their Religious Devotion to their Climate God..
At least at this Time..

"However, over the weekend, Germany announced plans to restart mothballed coal power plants ".
...How much you want to bet American liberal democrats ,will see this and want to shut down even more of our coal and natural gas plants, to compensate for the ones Germany is restarting.To even out the level of greenhouse gases Germany will now be producing .To save us from greenhouse gases. But yet again ,we have to pay for what the rest of the world does

There are a bunch of people who think the unnecessary expense and inconvenience we are experiencing is nothing more then the price we have to pay for saving the earth and switching to green energy. From what I have read it is probably about 30% in this country. Could be as high as 45%. The earth was created to accommodate man and his shortcomings were well known at the time of creation. The earth is not in danger of being destroyed but climate change is real and constant. I do not believe man contributes significantly to climate change. Climate change is a natural phenomenon and has been happening since the beginning of time. The problem now is the wrong people are profiting from these ill-conceived energy policies.

Word.

I doubt it’s really that high. People seldom give honest answers to polls, fearing disapproval. Most of us are self-serving and want to be fat, happy, and comfortable, even if it means scorching Mother Earth.

OTOH, there’s practically no limit to what we’re willing to put someone else through, as long as we don’t have to watch it…….

Stupid people in the USA are shutting down the coal plants. Here in Colorado, stupid democrats think the solar and wind generators are enough, too.

Climate change, otherwise known as................WEATHER.

Thinking about the local job market and wondering how hard
it will be to get miners if coal takes off. $14/hr start at local c-stores,
Rutters is opening one and offering $17, trying to poach employees.


Not certain how many will want to work coal, and play the coal
miner games. Just too many alternatives now.

The only real long term solution is nuclear energy. Everything else is stop gap or temporary.

kwg

The one Mount St Helens eruption was like the equivalent to 10 years of all vehicles on the planet. Instead, we should be focusing on long term issues with waste disposal, what get's in our water tables, and pollution in the oceans since they are the root of our food chain. "Climate change" is no more than a worldwide wealth redistribution scam.

Would make a lot of sense.

Yup.

And I doubt green energy is even 20% of what we use here.

Reliable renewable energy technology just isn't available yet. The worldwide strategy seems to be the cut back on the coal and gas generation to try and force a ramp up of nenewables development. It's not working, and change of governments allow blame shifting. End of the day same old, same old.

I just read an opinion piece someone wrote where he said fossil fuel prices have to stay high to force people to switch to green energy and prevent global warming. Says fuel prices will escalate food prices but that is necessary as well and fossil fuel profits should be confiscated and redistributed to the public to offset high food prices.
What an idiot. He has no idea how things work.