George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
The US Energy Information Administration (EIA) said in January that US domestic production of crude oil for September 2023 set a new all-time high of 13,247,000 barrels per day. That fact probably deserved more notice than it received given that it was the most oil any nation on earth had ever managed to produce in a single month.
Today, America ranks as the largest producer of both oil and natural gas on Earth, and there is no sign that is likely to change anytime soon given that the industry is conducting its business more efficiently and effectively than at any time in history. As a result, the USA enjoys almost complete energy security: we have no need for oil and gas from unsavoury regimes overseas, and we even have enough left over to help supply our friends – such as Britain.
https://www.telegraph.co.uk/news/2024/03/25/usa-oil-gas-production-world-record-level-energy-security/
https://www.telegraph.co.uk/news/2024/03/25/usa-oil-gas-production-world-record-level-energy-security/
British energy production plunges to record low. UK forced to rely more than ever on imports as North Sea output declines
What could be the reason of this?
https://www.telegraph.co.uk/business/2024/03/26/briatin-energy-production-plunges-record-low/
To throw darts at.
https://www.telegraph.co.uk/politics/2024/03/25/ed-miliband-not-consider-resigning-28bn-green-u-turn-labour/
Https://www.energyvoice.com/oilandgas/north-sea/550570/nsta-oga-plan-published/
A controversial plan, which North Sea operators have warned will see platforms being shut down early, will be published later this week.
The final North Sea Transition Authority (NSTA) document – known as the “OGA Plan” – will be brought out on Wednesday, according to operations director Tom Wheeler. A draft version of the plan opened to consultation in October and has since been flagged as an area of “serious concern” for the industry, who said it will see dramatic acceleration of shutdowns.
Provisions in the draft document require hubs to be electrified or electrification-ready for any new oil and gas projects being planned or face sanctions.
Many operators see this complex and costly process of replacing diesel or gas generators for power as too high a hurdle for those assets with limited remaining production life – the majority of those in the UK sector.
Labour’s net zero plans ‘will cost £116 billion’
Analysis finds even if sums were available, Starmer’s plan to decarbonise UK’s power grid by 2030 is ‘infeasible’
https://www.telegraph.co.uk/politics/2024/03/25/labours-net-zero-plans-will-cost-116-billion-analysis/
John Constable, director of REF, a charity that has frequently highlighted excessive payments to wind farms, said: “Our evidence suggests that multiple wind farm operators have been charging over the odds to reduce their output on windy days, generating no energy but costing consumers a fortune. We estimate it added £100m to overall consumer bills in 2023 alone.”
https://www.telegraph.co.uk/business/2024/03/24/wind-farms-investigated-after-overcharging-customers-100m/
On the way to pauperism.
"We need brutal honesty about what we can and cannot afford. The state and public services must be made efficient. The welfare system must be reformed. Absurdities such as the unilateralist climate change policies that further undermine domestic production need to be rethought."
https://www.telegraph.co.uk/news/2024/03/24/our-economic-model-is-bust-we-cant-rely-on-services-alone/
Https://www.vaneck.com.au/blog/gold/the-2024-gold-miners-rush/
@dogger69 : Willy Wonker : filtered
Https://seekingalpha.com/news/4083057-us-asked-ukraine-to-halt-strikes-on-russian-oil-refineries-ft
For those interested in exposure to precious metal stocks read this article about B2 Gold (BTG on New York, BTO on Toronto) : https://seekingalpha.com/article/4678486-b2gold-stock-a-sector-leader-on-the-sale-rack
And compare the valuation metrics such as P/E, EV/Ebitda, FCF-yield to those of FRES. Just saying.
Https://www.telegraph.co.uk/business/2024/03/20/surge-offshore-wind-needed-starmers-net-zero-plan/
"The politicians have been in a state of denial in admitting as much, deceiving themselves – and everyone else – into believing the green transition offers the prospect of both low cost energy and hundreds of thousands of jobs. For all concerned, it’s proving a rude awakening.
In this regard it is quite similar to Brexit, which was similarly sold as an economically enhancing endeavour, and was embarked upon without any kind of a plan, or realistic assessment of how the supposed benefits might be delivered and what the countervailing costs might be."
"The difficulty is that though deemed necessary for the purpose of limiting climate change, green investment doesn’t yet hack it in commercial terms. Much of the desired transition wouldn’t happen at all unless actively promoted, incentivised and subsidised by governments. By its very nature, this is going to create distortions, result in technological wrong turns, promote inefficiency and be ruthlessly exploited by the well-connected to feather their own nests."
https://www.telegraph.co.uk/business/2024/02/06/labour-green-prosperity-plan-monumental-waste-of-money/
Britain’s electricity networks will not hit net zero until 2035, National Grid has said, undermining a key pledge by Labour to hit that target by 2030. The deadline prompted a backlash from Ed Miliband, the shadow energy secretary, who said a Labour government would make ESO accelerate its programme to hit the 2030 target. A spokesman said: “We said 2030 for decarbonising the grid and we meant it.”
https://www.telegraph.co.uk/business/2024/03/19/britains-energy-system-not-hit-net-zero-until-2035/
@lunaz leading the way .
Hey Ho let 's go!
https://www.youtube.com/watch?v=UKCCbObsebA
Ditching oil and gas is a “fantasy” amid increasing demand, one of the world’s most powerful oil and gas bosses has said.
Amin Nasser, chief executive of Saudi Aramco, said the transition to net zero is “visibly failing” with oil demand set to rise for “some time to come”.
“The current discourse on energy transition ignores this reality,” he told the CERAWeek conference in Texas.
“The world should abandon the fantasy of phasing out oil and gas.”
Rising demand from developing economies could feed oil demand growth through 2045, he said.
This forecast for long-term demand growth is in line with forecasts from Opec and in contrast to the 2030 forecast for peak demand from the West’s energy watchdog, the International Energy Agency.
The two are far apart on both short-term and long-term demand forecasts, in part because of their contrasting views on the energy transition.
Reducing greenhouse gas emissions from hydrocarbons through carbon capture and other technologies achieves better results than alternative energies, Nasser said.
New energy sources and technologies should only be introduced when they are genuinely ready, and economically competitive, he added.
Without government subsidies, electric vehicles are as much as 50pc more expensive than internal-combustion cars, he added. “They cannot be subsidised forever.”
Has there ever been a more pernicious lie spread by government and lobbyists than the claim that net zero will save us money?
https://www.telegraph.co.uk/news/2024/03/18/heat-pumps-net-zero-green-energy-fossil-fuels/