Biden says coal plants 'all across America' will be shut down, replaced with wind and solar

Tsing Tao said:
It's not about a wrong reaction. We can all have (and do) our own opinions on how things should happen, how we get to where we need to be and where we need to be in the first place. All that is open for debate and all angles should be considered.

But telling energy companies they should spend money now because they'll at least have a few years of demand...NO one with any business experience at all would think that the investment in the life cycle of oil exploration to production would do so for a "couple of years" of waning business. The return on capital would be a disaster.

And the energy advisor to the White House should grasp this.
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I totally agree with how utterly clumsy and comical their responses are. To be fair though, investment in FF energy is already waning because of disinterest and fear, and I don't believe these amateurish statements have much bearing on high quality private sector investment analysis. The "bottom line" of declining well productivity and falling EROI are natural factors that can't be denied.
 
Ricter said:
I totally agree with how utterly clumsy and comical their responses are. To be fair though, investment in FF energy is already waning because of disinterest and fear, and I don't believe these amateurish statements have much bearing on high quality private sector investment analysis. The "bottom line" of declining well productivity and falling EROI are natural factors that can't be denied.
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Right, but I think you'd agree that the disinterest and fear is in large part by the whole attack on the industry from ESG pressure (banks, investment funds, regulatory/political, etc). Or do you think that genuinely company CEOs and boards (sans the activists on some boards) are becoming disinterested in fossil fuels? I mean, if Exxon becomes disinterest in fossil fuels, what does that mean for the future of their existence? Is it like BP moving to more clean energy? That didn't work out all that well for them when you rank them compared to their competition.
 
Tsing Tao said:
Right, but I think you'd agree that the disinterest and fear is in large part by the whole attack on the industry from ESG pressure (banks, investment funds, regulatory/political, etc). Or do you think that genuinely company CEOs and boards (sans the activists on some boards) are becoming disinterested in fossil fuels? I mean, if Exxon becomes disinterest in fossil fuels, what does that mean for the future of their existence? Is it like BP moving to more clean energy? That didn't work out all that well for them when you rank them compared to their competition.
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The former for sure. ESG is a reflection of society's growing awareness of the cost of the human enterprise's externalities (to put it broadly). But even without ESG commitments, interest is gradually declining, in step with the physics: the EROEI of FF is gradually declining.

Let me rephrase The Predicament, then:
If Exxon keeps supplying fossil fuels it's dead, but if Exxon stops supplying fossil fuels... it's dead.
:)
 
Ricter said:
The former for sure. ESG is a reflection of society's growing awareness of the cost of the human enterprise's externalities (to put it broadly). But even without ESG commitments, interest is gradually declining, in step with the physics: the EROEI of FF is gradually declining.

Let me rephrase The Predicament, then:
If Exxon keeps supplying fossil fuels it's dead, but if Exxon stops supplying fossil fuels... it's dead.
:)
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So sell XOM? :)
 
I'll add that we're not even talking about the madness of thinking we can go to wind and solar to power this civilization. Lol.
 
Tsing Tao said:
Another example - interview with Bloomberg - showing how unbelievably absurd this administration is. It's astounding how foolish they are. They use the term "Shockingly naïve." I don't think that's strong enough wording.

https://twitter.com/x/status/1545041103749095430
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Yep. Old Tom there is a lefty but when the Biden admin touches off his bullshit meter he does not like it.

He was about pissed as he could be in this interview with Granholm and was biting on a glove. She is the Energy Secretary and she laughed in his face for asking her the fundamental question. He was pissed, and bashed her several times in the months since that interview for being clueless.

She is really an arrogant bitch. Along with the one in the video you posted above.

He didn't like it. At all. He damn near bit off his lower lip trying to contain himself.

 
TreeFrogTrader said:
Yep. Old Tom there is a lefty but when the Biden admin touches off his bullshit meter he does not like it.

He was about pissed as he could be in this interview with Granholm and was biting on a glove. She is the Energy Secretary and she laughed in his face for asking her the fundamental question. He was pissed, and bashed her several times in the months since that interview for being clueless.

She is really an arrogant bitch. Along with the one in the video you posted above.

He didn't like it. At all.

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I saw that interview, and then her laugh became famous. So unbelievably out of touch that woman is.
 
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