In the Pipeline: 9/12/12

The scarcity narrative continues to break down under the pressure of technology, production, and American innovation. Market Watch (9/11/12) reports: “U.S. crude-oil production is expected to grow by 74%, or more than 4.9 million barrels per day to an average of 11.6 million barrels per day within 10 years, according to Platts’s energy data analytics unit Bentek Energy.”

Is EPA serious here?  Are they really defending giving money to China so it can become a more efficient competitor?  Has someone mentioned this to Sherrod Brown? The Hill (9/11/12) reports: “The EPA believes that HR 4255 will cripple the agency’s ability through grants to address harmful air pollutants that affect both the global and domestic environment,” Hooks said in written testimony. “Air pollution from overseas sources represents a growing problem for public health globally and here in the United States.”

Dan Simmons crushes here.  Which is no surprise whatsoever. Energy & Commerce (9/11/12) reports: “Daniel Simmons, Director of Regulatory and State Affairs at the Institute for Energy Research, described EPA’s foreign grants as “symptomatic of out-of-control spending by the federal government.” He explained, “Taxpayer dollars should be spent on projects that have an obvious benefit to the American people and these foreign grants do little, if anything, to benefit the American people. Lastly, if EPA would like to improve environmental quality at home and abroad, a far more productive approach would be to promote environmental improvements through economic growth. Years of research shows that economic growth promotes environmental protection.””

You may have missed this, but Kyoto is dying a pretty slow, ugly, public death.  I’m kind of surprised President Clinton didn’t mention it as one his achievements from the dais in Charlotte. Inter Press Service (9/9/12) reports: “As government negotiators from the world’s poorest countries ended a round of United Nations climate change talks in the Thai capital, they sounded a grave note about what appears imminent when they assemble in November in Doha – the reading of the last rites of the Kyoto Protocol.”

Mary Hutzler has been blogging about the windmills not being hooked up for over two years. Maybe people will start to listen to her before it comes to jumping out of windows. WSJ (9/12/12) reports: “Wind power is seeing similar overcapacity. China’s top wind turbine manufacturers, Goldwind and Sinovel, saw their earnings plummet by 83% and 96% respectively in the first half of 2012, year-on-year. Domestic wind farm operators Huaneng and Datang saw profits plunge 63% and 76%, respectively, due to low capacity utilization. China’s national electricity regulator, SERC, reported that 53% of the wind power generated in Inner Mongolia province in the first half of this year was wasted. One analyst told China Securities Journal that “40-50% of wind power projects are left idle,” with many not even connected to the grid.”