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At the Ministerial Meeting on October 5, OPEC Plus decided to cut oil production by 2 million barrels per day (2 percent of world oil demand) in November from “current baselines.” For October, the OPEC 10 production target is 26.689 million barrels per day, while the non-OPEC members of OPEC+ had a collective target of 17.165 million […]
On this episode of The Unregulated Podcast Tom Pyle and Mike McKenna discuss the tottering Biden administration, the tremendous failure of the Manchin permitting “reform” bill, and prospects for the next Congress. Links: Zycher’s Letter to the Editor Friday, 9/30 Jamie Dimon: “That would be the road to Hell for America” Former Obama economist Larry […]
President Biden must be living a life of luxury and seclusion because he has no concept of how gasoline prices are set, what the demand is, and how much oil production and refinery capacity are needed to meet it. He is back to accusing oil companies of price gouging should gasoline prices go up. Biden said that […]
Solar power is to be the savior of President Biden’s climate agenda, being the “green” resource of choice. However, solar power has a number of unfavorable issues that limits its ability to become the savior that the Biden Administration wants. They include: Solar is an intermittent technology that provides no power when the sun does […]
Despite Biden saying he is doing all he can to increase domestic oil production, his numerous actions beginning on his first day in office show the opposite. Clearly, his climate/tax bill (the so-called Inflation Reduction Act) hits the domestic oil industry in the back with massive fees and royalty increases. Even production on non-federal lands gets hit with […]
Power prices are expected to increase as the price of natural gas—the swing fuel for electric generation—increases to meet domestic and international demand. The Energy Information Administration (EIA) expects the natural gas price at the Henry Hub to average $9 per million Btu in the 4th quarter of 2022 and the residential electricity price to average 14.75 cents […]
The so-called Inflation Reduction Act contains new, very favorable incentives to attract additional investments in wind and solar power of over $270 billion in the next eight years for 155 gigawatts of new wind and solar capacity. The new law is expected to trigger 85 gigawatts of new onshore wind capacity by 2030, with total onshore wind capacity reaching […]
On this episode of The Unregulated Podcast, Tom Pyle and Mike McKenna discuss recent headlines and what reforms are needed for energy permitting versus what is likely in the Manchin reform bill with guest Mandy Gunasekara. Links: Karen Bass LA Mayoral Candidate Burgled Word Salad of the Day Follow Mandy Gunasekara on Twitter More from […]
Under a settlement agreement with environmentalists, Federal regulators will review oil and gas leases going back to 2019 to see whether their impact on climate change was properly addressed and to consider the social cost of greenhouse gas emissions in the analysis. The Biden administration agreed to review 56,000 acres of oil and gas leases in Montana and North Dakota issued by […]
Politicians and environmentalists claim an urgent need to reduce greenhouse gas emissions, but in reality, world coal demand for power generation continues to increase and carbon dioxide emissions from the electric sector continue to grow. In 2021, those emissions were 5.9 percent higher than in 2020. Over half the growth in electricity demand in 2021 was generated […]