Member Info for SatellitePro

Rock solid foundations with the added spice of new contract announcements and FID sign offs happening with increasing regularity.

It will get increasingly difficult for SP manipulators and fishy posters when news like this keeps coming. End of calendar year.....get the champagne ready!

Desperado youtube https://share.google/qGxWPVGCo0OaRZ2XZ

Wind up merchant. Ignore/filter.

Dennis and his team are doing proper work that will help improve the environment long term. Shorters are only interested in making money - how they do it and the impact it makes is of no interest to them - just pure greed.

There is plenty of headroom to cut subsidies without job losses ....

AI Overview

+5

Big Oil Profits Reached Record High Levels in 2022

The global fossil fuel industry experienced a significant surge in profits in 2022, reaching a record-breaking $4 trillion. This surge, particularly in the oil and gas sector, was largely attributed to the Russia-Ukraine war and the resulting increase in energy prices. While these profits were seen as a windfall by the industry, they also led to increased scrutiny and criticism, especially as many consumers struggled with higher energy costs.

Key Points:

Record Profits in 2022:

The industry's profits doubled in 2022 compared to previous years, reaching $4 trillion, according to the International Energy Agency.

Yes, the UK government does provide subsidies for fossil fuels, despite commitments to phase them out. These subsidies take various forms, including tax breaks for oil and gas producers and reduced VAT on fossil fuel consumption. Estimates of the total annual subsidy amount range from £15.9 billion to £17.5 billion.

Here's a breakdown of how the UK subsidizes fossil fuels:

Tax breaks for producers:

The UK government offers tax reductions for oil and gas companies operating in the North Sea, effectively lowering their tax burden and encouraging continued production. This includes measures like the Energy Profits Levy, which provides an 80% exemption for companies that invest in further oil and gas production.

Reduced VAT on fossil fuel consumption:

A reduced VAT rate (currently 5%) is applied to fossil fuels, along with other energy sources. While this benefits all energy consumers, a significant portion of the subsidy goes towards fossil fuel consumption due to its dominant role in the UK's energy mix.

Incentives for "technically challenging" North Sea reserves:

New tax allowances are specifically targeted at the development of harder-to-reach oil and gas reserves in the North Sea, providing further financial support for the fossil fuel industry.

Continued financing from UK banks:

Despite some banks setting exclusion policies for fossil fuel companies, they continue to provide significant financing to oil and gas companies, effectively supporting the industry's expansion.

Product quality!!!!!

Looking longer term, ITM is transforming from a high risk speculative share into a medium-low risk rock solid investment. When you join the LTHs will determine how much you benefit from the progress currently being made. Linde is one of the major institutional investors and that alone demonstrates the produce quality. Coupled with the major clients in the pipeline, the company has a very bright future. A great opportunity to buy or add imho but dyor.

Helikon are loving this ....

Hopefully not but I wouldn't be surprised at all.

Get the champagne ready for the first Helikon reduction…….

When Trump landed in Scotland he said we have to stop the windmills........

New Generation:

According to the International Energy Agency (IEA), in 2023, an estimated 96% of newly installed, utility-scale solar PV and onshore wind capacity had lower generation costs than new coal and natural gas plants.

Existing Coal Plants:

A 2023 report by Energy Innovation found that 99% of U.S. coal plants are more expensive to operate than building new wind or solar capacity in the same regions, with only one coal plant, Dry Fork in Wyoming, being cost-competitive with new renewable alternatives.

Marginal Costs:

While the marginal cost of existing coal can be as low as $29/MWh, and existing gas-combined cycle around $51/MWh, new wind and solar with storage can reach costs as low as $0.04/kWh (or $40/MWh).

Subsidies:

While renewable energy has seen increased federal support, the fossil fuel industry in the U.S. has also received substantial direct subsidies, estimated at over $20 billion per year.

Future Outlook:

Renewable energy, including wind, is projected to continue decreasing in cost, while the price of fossil fuels, particularly due to factors like fuel price increases and geopolitical events, is expected to rise. The Inflation Reduction Act has further incentivized wind and solar development, driving down costs and increasing market certainty for these technologies.

Good to see some long term thinking on SP instead of the daily fluctuation debates that have been consuming this board, fanned by the usual suspect! Long term, it seems logical to assume a near limitless growth for hydrogen vs declining use of polluting fossil fuels. Even if the ITM market cap increased ten-fold, it would still only be equivalent to 2% of Shell’s market cap. Clean energy is a revolution and the sooner ff are history the better!

Snam sold 10m shares and the SP is still over double what it was before they exited. That says a lot.

Helikon need Linde to sell up too but somehow I don’t see that happening. So watch this space…….

Https://hydrogeneurope.eu/

Lots of interesting developments..........

There is wind in the sails again!

Components: A 5 MW electrolyser for hydrogen production and an integrated hydrogen refuelling station.

Hydrogen Source: The hydrogen will be produced on-site at the Dettelbach facility and also distributed via Guttroff's existing network.

Funding: Receives financial support from the Bavarian government for both the electrolyser and the refuelling station infrastructure.

Waste Heat Utilization: Guttroff plans to utilize waste heat from the electrolyser.

Broader Context: This project is part of Bavaria's efforts to become a pioneer in the international hydrogen industry and ensure the availability of hydrogen until a connection to the core hydrogen network is established. The Bavarian government is investing significantly in its electrolyser program to support such projects.

Like many LTHs, I don't plan to sell any ITM shares this side of 2030 (if ever) so current SP fluctuations are irrelevant. The company has considerably improved and the markets are expanding again. Long term outlook is good and negative posts are meaningless drivel without stating a timeframe.

Certainly helped Qube exit and probably Helikon if they soon. Then hopefully we can return to normality.....

How interesting - Helikon also mainly Italians? Small world.