Just read an article that talked about how the push back against fossil fuels and the push towards "green" energy that is not technologically ready for game day will cause fossil fuel prices to rise quickly, plus be back in demand to make up for the gap the alternative energy sources can't fill yet.
It also said that with our current energy grid, if more than 20% of the automobiles on the road are converted to EV's, the grid won't be able to keep up with the chargers.
Another classic example of the government thinking all they have to do is pass a mandate and everything will magically happen. Typical dumbass lawyers.
It started when Bi den closed the pipeline on day one. This raised sentiment of higher oil prices in a few minutes. Then no more permits on federal land. To make matters worse, Europe is finding out that in a lasting high pressure system, windmills dont turn. The dont have enough natural gas to heat their homes this winter and need to buy it from Russia. Now, we are finding out that coal supply is at a 23 yr. low in the USA. We are actually low on crude oil supply right here in the United States. Some are only 25% full. I dont know how full Cushing , OK. is. however, Cushing is having problems getting crude down to the tanks. With so much oil, why? Well, cause there are some disruption in the ,,, wait for it,,, in the supply chain. We cant get it piped from Canada , cause President Biden stopped the pipe line. It is a real mess out there now and we will see crude oil go to $100 this year. Why? Cause Europe, the continent that thought they could heat houses from windmills and solar if you mix it in with some fairy sparkles and pixie dust. We will be ok , although we will see heat and electric go up a lot. Natural gas a yr. ago was $1.60 per million BTU's , now it is about $5.60 .
About time the oil stocks are going higher. I just came back from elk hunting in Colorado and came back Rt. 70 to New Jersey, not one windmill turning!
Don’t forget a huge part of this whole mess is the squeeze play the Chines tried on the Australians by stopping their lignite coal purchases. Same gambit as stopping the corn and soy purchases in from he US. They still needed the goods, so they tried to make up for it by buying Russian gas. That drove the price of gas up, and reduced purchases by the Euros. Then the North Sea was becalmed, which led the Euros to pushing the US LNG plants to ship everything they possibly can. Which drives our natural gas prices up.
The s#it show went all the way around the world, but it started in China.
Just read a story about a Mingo County WV metallurgical coal mine reopening. I wonder how AOC likes the smell of coal smoke😂😂😂
Interesting stuff Dutch, the states of certain waters having this world effect. Thanks.