Member Info for romaron

It is not even the beginning of the end. But it is, perhaps, the end of the beginning," said by a fat guy with a cigar.

I think it applies to the fightback of O&G as well.

Extracts from Doomberg today - "As a general rule, the flashier a company’s booth is at a climate summit, the more hypocritical the corporate behavior, as such virtue strutting is often a sure sign of overcompensation. If regions were companies, the European Union (EU) would undoubtedly have the best-looking booth at every expo. The EU elite view their continent as an unspoiled garden where fracking is all but illegal and new mines practically impossible to permit. This works well enough for those willing to look the other way while the procurement teams do their thing. It seems the days of Europe pretending not to notice may be coming to an end:"

"Three things cannot be long hidden: the sun, the moon, and the truth.” – Buddha

And European banks compete with US banks. Do they want to be less competitive too? The deposits and talent will go first to the US who will continue to grow and dominate the financial world.

We are told that AI will grow exponentially. What happens if a data centre has a blackout? Financial centres want the millisecond advantage closeness brings. They say 'follow the money'. Well, 'money follows cheap reliable energy'.

Good spot AoK. And in a previous life Capricorn was Cairn who know Kraken well.

As in, not naive or innocent. Isn't it about time that they came "clean" about the true cost of renewables. Let's drop the pretence that it is saving the world when the (if they exist?) savings of emissions is dwarfed by the cost of this fanaticism. Give the public the choice of cheap gas and oil or expensive renewables. They won't do it because it would reveal the scam. The constraint payments have reached ridiculous levels;

"The Renewable Energy Foundation suggest that Seagreen is making around £270 for each megawatt hour it actually produces, more than three times market averages, because it’s so lucrative to be switched off. This is a truly obscene rip-off of the consumer."

What is the point of intermittent energy? Maybe they should open factories that only operate when it is windy and give the employees "Net Zero Contracts'.

SeaGreen and Good Energy are neither Green or Good.

https://notalotofpeopleknowthat.wordpress.com/2025/01/03/net-zero-watch-condemns-new-windfarm-rip-off/

Just got in and catching up. On this thread I'd just like to point out that Warm this Winter and Uplift are one and the same. The only reason I spotted this is that Conor Rowden was a speaker at the last National Pensioners Conference (NPC). She is also on the Uplift Team page. They are oblivious of the fact that O&G is taxed at 78% whilst renewable companies get normal corporation tax at 25% PLUS subsidies and grants.

This is the problem. The NPC and Trade Union meetings have paid employees who go around promoting their ideologies with half-baked science and economics that shrivel in the daylight. People are lazy and you have to be some kind of driven crusader (or employee/paid activist) to continue demonstrating and spreading propaganda. Their arguments are seldom challenged because they ostensibly take the side of the 'oppressed' be it poorly paid union members or pensioners in poverty. They are either unaware or sinister that they in fact are part of the problem.

It works two ways. On the one hand lazy MSM quote them but against that it wastes their energy. I don't intend to attend an NPC meeting ever. Lies remain lies and eventually get investigated.

Uplift and associates are becoming irrelevant.

"In poorer countries, where electricity consumption rose almost 5% from 2022 to 2023, most of the additions came from fossil fuels, with coal contributing more than all solar and wind additions. China during that period added more new coal than new solar and wind. Bangladesh added 13 times as much coal as solar and wind. Despite India’s ambitious solar targets, it added three times as much coal as solar and wind."

Perhaps they'd like to have a word with Tessa Khan the Founder and Executive Director of UpliftUK. Her family comes from Bangladesh.

https://archive.ph/lZKbb

Wall Street is quitting en masse the Net-Zero Banking Alliance:

Today, Morgan Stanley says goodbye. Earlier this week, Citigroup Inc. and Bank of America announced they had left. And Goldman Sachs Group and Wells Fargo quit in December.

Cheap, reliable energy will be one of the key ingredients, if you want to dominate AI and maximize the usage of those top tier chips, over which a trade war is erupting. Looks like wind and solar aren't capable of providing this at the current state of technology. Might explain the recent news about extended partnerships between data centers/companies and nuclear developers.

Additionally, the hype cycle about net-zero and its subsidies are starting to flatten out. The cheap green lie. You are told that solar and wind are cheap. But cramming in more solar and wind makes power more and more costly because solar and wind are worthless when not sunny and windy.

Meanwhile in Edstown a.k.a. Great Britain the Labour party continue to worship at the altar of 'clean energy' with regular collections from the faithful though a system known as "utility billing".

*There are no high-green, low cost nations.

Hi Stevo, you wrote "Bentley losses becoming available this year."

Can you add more colour to this? A Bressay or Bentley progress would be truly 'transformational'.

O/T I was thinking about another crusade that was forced on to the public around a hundred years ago. The Prohibition of alcohol experiment in the US. We all know the downside of alcohol but it is a trade-off for the highs it also gives and the fun that follows. I see similarities with those forecasting a 'climate crisis'. The people don't really want to give up the cheap and comfortable lifestyles that O&G provide. Wearing hair shirts has never been successful in the longer run and renewable dogoodery seems to have run its course. Its champions are looking as increasingly out of touch as those old dears that used to enter the pubs selling "The War Cry".

Great work Dumbly. Occam's Razor suggests you are right. I skimmed the figures because they aren't easy to dig down into because WP is a private company. If they were public they'd have tried various rights issues and the stock would be almost valueless now. The $15mio loan appears to be temporary and runs until the end of June.

We're certainly involved but I'm not seeing this as a 'transformational' deal. Would the market read it that way - Two companies limping along now become a 3 legged man?

WP has a Net Debt to Ebitda of around 0.71X which is manageable I'd have thought but these ratios are meaningless in a world banning fossil fuels. The bonds are not easy to access but I found this one https://bondblox.com/bond-market/Waldorf-Energy-Finance-Plc-NO0012847674

This gives us some value of Waldorf if you apply 70% of the outstanding debt as a guide. You could then maybe attribute some value for tax credits but I've a sneaky feeling that they're already in the price. I can imagine the creative financial minds are wetting themselves on the potential for commissions and success fees. On the face of it we could merge quite easily. As always it's about the price.

I liked this message even more from Chris Morrison the Daily Sceptic's Environment Editor:

"As can be seen, there are massed forces at work promoting the idea of a climate crisis and the need for a political Net Zero solution. Attentive readers might have gathered that I regard Net Zero as a looming catastrophe for humanity but I am encouraged that much more attention is being paid to what is little more than a luxury middle-class belief. If you are a student of history, you will know that these puritanical groupthink cults pop up at regular intervals. I am also encouraged by the growing interest in the underlying science and the scandalous way the scientific process has been traduced in recent years. We fight and debunk this nonsense with facts. Next year is likely to see reality make substantial gains and it should be fun."

Science doesn't work from cherry-picked or fabricated data. I think 2025 will be FUN as the climate zealots continue to be debunked.

Source: https://dailysceptic.org/2024/12/31/met-office-claims-to-have-been-recording-temperatures-at-stornoway-airport-30-years-before-aeroplanes-were-invented/

Sometimes the zealots overstep and need to be held to account.

"Stand by for another bout of ‘Hottest Year Evah’ stories as the mainstream media pursues its campaign to induce mass climate psychosis and prepare the ground for the oncoming Net Zero catastrophe. Alas, enjoy it only a little while longer since this story may have to be retired after putting in such a sterling propaganda shift. Global temperatures are falling like a stone, while the oceans are cooling at a remarkably rapid rate. In the U.K., the year is likely to show a second annual temperature fall since the alleged ‘record’ year in 2022."

Many fall for it and the pushers of the climate propaganda could put Putin to shame for levels of propaganda and misinformation.

https://dailysceptic.org/2024/12/28/recent-temperature-falls-likely-to-put-a-dampener-on-hottest-year-evah-stories/

Https://open.substack.com/pub/davidturver/p/to-infinity-and-beyond?r=lx6e9&utm_campaign=post&utm_medium=email

What David Turver is saying here is that for the graph (fig 3) to be correct you're gonna need an awful lot of spending to make the dotted orange line come true. This is the effect of inferior and expensive intermittent energy has. Ed will spend our money and get kicked out in 2030 when the failure and cost of his dream collapses (hopefully before then). The "great awakening" he has been preaching will collapse along with all the other religious predictions because people actually live in the here and now and don't have bottomless pockets to fund the dreams of those who don't understand that life is short and brutal for many. That is why the movement hasn't worked in (for example) Africa. We get all these sad adverts for Water Aid at this time of the year whilst another group of dogooders are stopping the use of fossil fuels in Africa which are needed to stop the pollution of wood burning and delivery of water. Virtue signalling doesn't have roots in common sense. Most sensible people accept trade-offs as a fact of life.

*without ever increasing expense I forecast that the orange line will actually look more horizontal from now on. It is clear from the graph that the biggest influence was coal.

'Fraid you're both wrong. They are the same. Both ideological spending and closer to medieval indulgences in that instead of giving to the church we are (taxpayers) donating to causes and unproven technology based on an unsettled 'science'.

"Tax raids" is the correct term for both which sadly affects the poorest through their energy bills.

"By pure coincidence, I am sure, the CEO of Good Energy is Nigel Pocklington who just happens to be the brother of Jeremy Pocklington who is the Permanent Secretary at DESNZ." [my 27Dec 13:54] I looked up Good Energy (GOOD) apart from being p*ssed that they were allowed the self-anointed Market Identifier Code they have done quite well. Not bad when all they're doing is redirecting monies from the poorer to the richer. There is precedence here and a danger that one day the tap will be turned off permanently {Warm Front Scheme - another Labour creation and the collapse of Eaga in 2011 when grants were dramatically reduced]

But not to worry for the Pocklington clan and other parasites. Today on the front page of The Times - "Grants and cheap loans to install solar panels" - the money will come from the government's £6.6bn warm homes plan and is due to be allocated next year. You don't need to ask where the solar panels and batteries will come from. A kinda FiTs is in there too though how this will work eludes me. Everybody is long of electricity at the same time so maybe you'll make more from constraint payments if you turn them off?

The gravy train is heading for the buffers but Ed is so deep in his hole he can only keep digging. There are some clever people on this board so can someone explain the difference between a subsidy and a grant?

Now - Wind 8% Gas 56% https://grid.iamkate.com/

And that's for electricity. Luckily most homes are heated by gas or we'd freeze. As a reward, gas being a fossil fuel, is being taxed far higher than any other product at a penal rate.. Sanctions against Putin are softer.

Https://open.substack.com/pub/davidturver/p/feed-in-tariff-fit-to-bust-country?r=lx6e9&utm_campaign=post&utm_medium=email

A bit heavy for this festive season but if you live in London a chance to meet others who agree with David Turver on 28 January for the princely sum of £5. I've booked a ticket.

Details are in the article and I've looked up the venue and it seems a decent pub - The Sekforde, EC1R 0HA.

Hi Oct23 - I wonder if the video is easier to understand because we on this message board now know more about these things than (say) a year ago. It will filter down to the public eventually but for now Labour is showing a united front and a tin ear.

The stuff about cycle lanes is really dispiriting. The majority have to suffer to help a few who actually take advantage of those that don't have their advantages. I'm thinking lycra clad professionals who use cycling to save money and aid their fitness regime. Not really available to anyone who needs tools and I don't see many elderly care-workers using two-wheels. To cap it all they don't have to obey traffic lights or one-way systems either it seems. EV's are as virtue signalling to me as is a Rolex to tell the time. It is flaunting your social standing and wealth. I've no axe to grind there but you can't have it both ways and the poorer in society shouldn't have to pay for flashiness/dogoodery or whatever you want to call it. Oil & gas has a long future ahead of it. Everyone else except the UK and Europe know this and Ed wants us to lead the way toward impoverishment and a lower standard of living for the majority. The professionals and career politicians will be unaffected; until the next election.

Https://freedomlibrary.hillsdale.edu/programs/cca-ii-economic-issues-and-controversies/the-economics-and-future-of-electric-vehicles

This is a must watch and the speaker uses simple language. So much data driven statistics and there'll be the citations and science to support it. The speaker, Mark P. Mills says that the Chinese have played a blinder and singles out the UK. The craze for EV's is economically destructive and inflationary. He states at the end that the challenge for the US "is not doing what they're doing in England".

Poor old Andrew got caught out meeting a Chinese agent. Ed does it in broad daylight. Some fantastic information here. Second richest country per capita after Qatar is Norway. Simples, oil and gas revenue. Listen around 38:00 - the millenials love cars more than the boomers. I loved the term "behavioural jntervention". Americans won't stand for it. I think the rebellion has only just started over here.

The chart analyses CCGT output versus CCGT availability based on REMIT reporting, and indicates that CCGT utilisation above 90% is not unusual in winter. In 2024, this has occurred earlier than in the past couple of years – 2022 had consistently high utilisation.

Industry experts believe this trend of tight CCGT margins will continue and spare capacity will shrink as plants close and are not replaced. Very little new plant is being built – there is only one new CCGT in the pipeline, 2 x 850 MW units due to be built at Eggborough, with capacity contracts for Winter 2026/27. I have heard from two different sources that EPC contractors have yet to be appointed, making delivery of these units the winter after next highly unlikely.

Whist this may be good for owners of CCGTs as they will benefit from higher earnings realised from scarcity, it does not bode well for consumers who will be exposed to this higher pricing, which will feed through to bills. The price of renewables looks artificially cheap in comparison since many of the associated costs, including the need for gas-fired backup is socialised directly onto bills. This feeds into the “expensive gas / cheap renewables” narrative, but is a fiction, since many of these socialised costs (also including higher network and balancing costs, as well as constraint costs) would be avoided if the system relied primarily on gas."

https://watt-logic.com/2024/12/19/unrealistic-plans-for-ccgt-fleet/

and this - "There is an increasing dearth of talent in the industry, as anyone trying to hire experienced operations staff or an engineering manager will attest,”

– Operations Director for a CCGT fleet

All the above is unlikely to be understood by a career politician or a member of the Greta Thunberg tribute band. Unless action is taken the UK and Europe can expect blackouts on a regular basis.

Two things I've learned.

1. If a religion is failing you need to build more churches. The higher the better.

2. Solar intensity (like wind) is reduced in the Northern Hemisphere during the winter months, especially at night.

Mother Nature always wins. Stilled turbines nor dormant solar panels can't even power a mobile phone, let alone an entire country.