Speculators


America is in a double bind. We have some of the best energy research and technology in the world. But when we try to talk to the rest of the world about Climate Change. We look like FOOLS.

 

 

Op-Ed Contributors

Why Is America Wasting So Much Energy?

By Terry Sobolewski and Ralph Cavanagh

Partisan fights in Washington can leave the impression that we’re hopelessly divided. The truth is there are plenty of bipartisan solutions to the energy and environmental challenges we face, and energy efficiency is near the top of the list.

America fails to capture some two-thirds of the power it generates, much of it through simple waste, according to federal data. In a recent survey, the United States was ranked eighth among 23 of the world’s top energy-consuming countries in efficiency, behind several European nations, China and Japan.

We shouldn’t accept that.

Energy efficiency is one of the most powerful resources we have for meeting our energy and environmental goals. It is also an enormous economic opportunity.

Setting aside the significant environmental impact, this energy waste costs American businesses and households billions of dollars every year. In commercial buildings alone, where annual electricity costs are roughly $190 billion, about 30 percent of this energy goes to waste.

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So SAD. Go there and read. More next week.

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This is what happens in a transitional economy. All the big brave tough bullies, Captains of Industry, turn into silly whiny little sissies begging for handouts. Isn’t life interesting. And no, this is not an April Fools Joke.

https://arstechnica.com/tech-policy/2018/04/coal-nuclear-plant-operator-files-for-bankruptcy-asks-trump-for-a-bailout/

business cycles —

Coal, nuclear plant operator files for bankruptcy, asks Trump for a bailout

FirstEnergy’s request comes after regulator struck down an industry-wide bailout plan.

On Saturday, power corporation FirstEnergy placed its coal and nuclear generation units under chapter 11 bankruptcy. Although coal and nuclear plants across the country have struggled to compete with the low prices of natural gas, FirstEnergy’s filing is unique because it stands to take on a political dimension. Just two days before FirstEnergy’s bankruptcy filing, the company petitioned the Department of Energy (DOE) for an emergency bailout, citing concerns about reliability.

The petition could reinvigorate a debate started by Energy Secretary Rick Perry, who proposed a rule last year to change how coal and nuclear plants are compensated for their power. The rule was denied by the Federal Energy Regulatory Commission (FERC), which said that there was not enough evidence to justify changing how coal and nuclear are compensated.

FirstEnergy disparaged FERC’s decision in its Thursday petition (PDF), claiming that “as a result of FERC’s and the RTO’s [Regional Transmission Organization’s] failure to address this crisis, swift and decisive action is needed now to address this imminent loss of nuclear and coal-fired baseload generation and the threat to the electric grid that this loss poses” (emphasis FirstEnergy’s).

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Go there and laugh your asses off. More next week.

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Well, the disaster is still around but Tepco is jumping back into the bond market. Oh, and thanks to the Japanese Government for selling off assets.

http://www.bloomberg.com/news/articles/2015-10-19/tepco-considers-return-to-japan-bond-market-as-profit-increases

Tepco Mulls First Public Bond Sale in Japan Since Fukushima

October 18, 2015 — 10:08 PM CDT
Updated on October 18, 2015 — 11:14 PM CDT

Tokyo Electric Power Co. is considering returning to Japan’s bond market next September in the first public offering since the disaster at its Fukushima Dai-Ichi nuclear power facility in 2011.

Tepco, as the utility is known, plans to raise a total of 330 billion yen ($2.8 billion) in the fiscal year starting April 2016, the Nikkei newspaper reported Monday. The company has hired five sales managers including SMBC Nikko Securities Inc., according to the report. Tepco spokesman Tatsuhiro Yamagishi said the utility is considering bond sales from September but couldn’t confirm other details when reached by phone.

A public debt offering would be Tepco’s first in six years after it halted bond sales following the March 2011 earthquake and tsunami that caused a triple meltdown at the Fukushima site. The disaster put Tepco on the verge of default, with the head of Japan’s biggest stock market saying in 2011 that the company should file for bankruptcy protection. Tepco was saved by a 1 trillion yen infusion from the government the following year, the nation’s largest bailout since the 1990s.

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Go there and read a little teeny bit. More next week.

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But let us not forget that the Saudi’s can put a barrel of oil on the deck of a ship for $17 – $25 per barrel. So we may have a long way to go. But isn’t this exciting!

This is my third and last post on the subject.

http://www.forbes.com/sites/quora/2015/01/06/how-will-the-2014-drop-in-oil-prices-affect-the-world-economy-and-geopolitics/

Tech 6,917 views

How Will The 2014 Drop In Oil Prices Affect The World Economy And Geopolitics?

This question originally appeared on Quora: How will the 2014 drop in oil prices affect the world economy and geopolitics?

Answer by Alex Song, Hedge Fund Analyst, on Quora

  • Domestically, lower energy prices means more money for discretionary spending. The equivalent effect on the US economy is a tax cut for consumers on the order of $100-125bn. Think about how low gasoline prices are now compared to where they were a few months ago. This saving generally translates into higher consumption on other things like retail spending. For airlines, this will be awesome because the cost of fuel and flying decreases, the effects of which may be passed on to consumers. Net-net, analysts estimate higher consumer spending should boost US GDP by .4%-.5% over the next year. This will be balanced by lower domestic energy production, however.
  • Internationally, for countries like China, Japan, and South Korea, which are huge energy importers, each 1% drop in crude prices is the equivalent to billions of dollars saved on their trade balance. Japan, in particular, has been suffering from a trade deficit for the past few quarters. The predominant reason is due to the mounting cost of energy imports (which they were forced to increase due to their shutting down all of their nuclear reactors following Fukushima in 2011). Plummeting oil prices is net-net a huge positive for them. In other parts of the world, low oil prices are squeezing countries like Russia, Iran, and Venezuela in very negative ways. In the near-to-medium term, it may force them to adopt a more conciliatory stance toward the rest of the world on political issues and reforms (Ukraine/Crimea, nuclear initiatives, etc.) due to the poor state of the economy. In particular, Russia may be forced to acquiesce on Ukraine just to get Western Europe to lift its embargo.

 

 

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Go there and read. There are many other linked articles. More next week.

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I know I posted about this last week. I know that usually transportation is not thought of as saving residential energy. But gasoline is selling for the same price as it was when I was in college. I know that this makes me sound like an old foggey. But this is a serious issue. Gas is selling for $1.88 today.

http://www.therakyatpost.com/business/2014/12/23/oil-prices-continues-drop-saudi-comments/

PUBLISHED: Dec 23, 2014 10:18am

UPDATED: Dec 23, 2014 03:07pm

Oil prices continue to drop after Saudi comments

NEW YORK, Dec 23: 

World oil prices yesterday resumed their downward trajectory following comments from key Middle Eastern oil producers that they have no plans to cut output.

US benchmark West Texas Intermediate for delivery in February dropped US$1.87(RM6.53) to US$55.26 a barrel on the New York Mercantile Exchange.

European benchmark Brent oil for February delivery fell US$1.27 to US$60.11 a barrel in London.

Yesterday’s trade marked a return to the dominant downward trend in the oil market following a brief rally Friday.

Appearing at an energy conference in Abu Dhabi Sunday, leading Middle Eastern producers held firm against any moves to cut production to boost crude prices.

“If they (non-OPEC countries) want to cut production they are welcome. We are not going to cut, certainly Saudi Arabia is not going to cut,” Saudi Oil Minister Ali al-Naimi said.

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Go there and read. Google it for heaven’s sake. More next week.

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But nobody knows why. They claim they do. One guy claims it is because of Fracking in the US. Another gal claims it is because of Saudi Arabia output is so high. Other people blame a lack of consumption. I believe it maybe because the speculators have unleash a flood of cheap oil from tanker storage. That does not change the fact that we are all guessing. This leads to some really confused reporting.

MERRY CHRISTMAS

http://www.pe.com/articles/year-756846-prices-holiday.html

News

GAS PRICES: Inland pumps average $2.71 a gallon

STAFF AND WIRE REPORTS

The eight days of Hanukkah. The Twelve Days of Christmas. So why not the weeks and weeks of plummeting fuel prices?

Again proving to be a gift with seemingly no end in sight, the average price of regular gasoline nationwide dropped an additional 25 cents a gallon in the past two weeks, to $2.39. That’s the lowest it’s been in more than five years.

And, just in time for the year-end travel boom, industry analyst Trilby Lundberg said prices will likely keep falling into the new year. Lower crude oil prices are driving prices down, along with an abundant oil supply and the rising value of the U.S. dollar, Lundberg said. The Consumer Comfort, Consumer Sentiment and Consumer Confidence indices were all at their highest levels since 2007, according to the American Automobile Association, which said the consistent decline in prices is the longest the organization has ever tracked.

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Go there and read. More next week.

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What the hell would the public know about their own self interest. Everybody outside of Chicago is just dumb hicks anyways.

Day 29 12/13/13 

Today’s Topic:  Who a potentially affected party must petiton in order to participate in a hearing.

Section 245.270 Public Hearings

The Act’s provision affording public hearings are critically important to ensuring that the public has the ability to fully understand hydraulic fracturing permits that may affect them, and challenge them if appropriate. We are therefore concerned that some aspects of the draft rules governing hearings could potentially undercut the robust public participation envisioned in the statute.

Section 1-50(b) of the Hydraulic Fracturing Regulatory Act says any person having an interest that is or may be adversely affected [by a fracking permit], can petition the Department for participation in a hearing.

But Subsection 245.270(a)(6) of the Rules raises the bar, requiring the request for hearing to be served upon the Hearing Officer, the Department, and the ap

The weather outside is frightful. Especially in Southern Illinois. So now you have all the time in the world to post comments to IDNR’s website.

 

Effingham, December 5, Holiday Inn 6:30 PM – CANCELED
• Decatur, IL December 17, Decatur Civic Center 6:30 PM
• Carbondale, December 19, SIUC Student Center 6:00 PM

Today is Day 7 of the 45 day Comment period on fracking in Illinois.  You’ve made it to the end of your first week.  Thank you for your comments!
Today’s comment is on the lack of provisions to address fracking in a tornado-ridden state.
Here’s what to do to make your comment today:
Comment:  Number of draft regulations proposed by Illinois Dept. of Natural Resources describing safety measures regarding tornado strikes on fracking sites: ZERO.  Number of tornados in Illinois in the last 10 years: 674.
Historically, the number and intensity of tornadoes in IL is very high.  “In fact, Illinois has experienced some of the worst tornados in US history.” Dr. Jim Angel, Illinois State Climatologist.
Every county in Illinois has had multiple tornados as demonstrated by the maps in the following links:
A big swath of Washington IL was flattened by a tornado on Sunday, 11/17/13. What would have happened if this tornado had hit an area of the state covered in fracking sites?  Debris from the tornado has been found over 150 miles away.  Imagine if that debris had included “temporarily” stored flowback water or tanks filled with frack fluid or produced water?
To remove your name from this email list click here. To unsubscribe from all emails from us click here.
510 E. Washington St. Suite 309
Bloomington, IL 61701
United States
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altGo there and comment. More later.

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This is worse than a sick joke. It is a travesty.

 

Today (Wednesday, 11/20/2013) is Day 6 of the IDNR 45 day comment period on hydraulic fracturing, aka “fracking.” 
Today’s comment is on the Ridiculously Low Fines Assessed on Violators of the Rules
Here’s what to do to make your comment today:
Suggested Comment: IDNR proposes to fine violators of the rules from $50 (less than a typical traffic ticket) to $2500 dollars per violation and add up to $ 1000 for actually causing environmental harm and up to $2000 for “creating a hazard to the safety of any person”.  These are fines for companies making potentially tens of millions of dollars or in many cases even more?   (Note: The top 5 oil and gas producers—Exxon-Mobil, Shell, Chevron, BP, and Conoco Phillips—made 118.1 billion in profits last year; in the last decade they have brought in over 1 trillion in profits.)   Where is deterrence in these penalties?  Let us answer that.  There is no deterrence.
NOTE:  We have learned that IDNR only has to provide a summary of the comments it receives to the Joint Committee on Administrative Rules.  To ensure that JCAR sees our actual comments, will you please copy your comment and e-mail to JCAR@ilga.gov.
Thank you!
P.S.  We have learned from Senator Harmon that Central Illinois WILL have a hearing.  We have contacted IDNR to obtain details but they said the details are not yet available.
To remove your name from this email list click here. To unsubscribe from all emails from us click here.
510 E. Washington St. Suite 309
Bloomington, IL 61701
United States

 

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Go there and comment. More later.

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But it is all about the money now isn’t it? That would be a big YES. I imagine picking on some of the gentlest people in the world will land you in hell.

http://www.newrepublic.com/article/113354/energy-companies-take-advantage-amish-prohibition-lawsuits#

The Amish Are Getting Fracked Their religion prohibits lawsuits—and the energy companies know it

BY MOLLY REDDEN

 

It was late 2010 when a chipper agent for Kenoil, Inc., a drilling company in Eastern Ohio, drove to the nearby hamlet of Millersburg to visit Lloyd Miller. His car slithered down the hill overlooking the Millers’s home and white farm buildings, past a set of pine green drums, pipes, and gauges—a shallow oil well that Kenoil had drilled on the Millers’s property many years ago—and stopped in front of the aluminum barn where the family, who are Amish dairy farmers, lodges its horses and buggy. The agent had an unexpected business proposition for Lloyd and his wife, Edna: Kenoil wanted to lease the right to drill on the Millers’s land for shale gas. And for a lease of five years, he could offer them $10 an acre that same day.

The timing felt providential. The couple, who have several young children, were still paying off a 2006 loan they’d used to buy a small farm adjoining theirs. Gazing in the direction of his 158 acres, as he talked with me at his kitchen table in March, Miller said, “We thought, ‘Hey, that’s $1,500 we didn’t have.’” Still, he asked the agent about rumors of farmers who’d been given much larger signing bonuses in similar deals. He remembered the agent grinning dismissively as he said farms in the area were not leasing for more than what was offered. Miller, 46, considered the Kenoil well on the hill, and the years of good relations he had enjoyed with the company. “I just trusted him,” he said. The Millers signed the lease.

It was maybe two weeks, Miller figured, before they realized the enormity of what they’d done. First, their local paper, The Bargain Hunter, carried a front-page story advising farmers their land could be worth hundreds per acre to oil and gas companies. He compared notes with landowners nearby while on trips to the sale barns where farmers trade livestock, and when other farmers delivered hay for his cows. Miller is physically imposing—stout and broad-shouldered—but also painfully timid. When pressed on what his neighbors had earned, he gazed for a long time at Edna, who, with one of their daughters, was chalking the outline of a man’s pantleg onto a bolt of wool rolled out on the table. “My wife and I took turns kicking each other in the butt.” He paused for a long while. “Our ten dollars an acre compared to $1,000.”

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Go there and read. More next week.

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