Joe Biden’s SPR Caper—A Triple Bogey
By David Stockman
https://www.lewrockwell.com/2022/07/dav ... ple-bogey/
Joe Biden’s SPR Caper—A Triple Bogey By David Stockman
Re: Joe Biden’s SPR Caper—A Triple Bogey By David Stockman
A well-written article that you should all read. We really do have some stupid people running this country.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: Joe Biden’s SPR Caper—A Triple Bogey By David Stockman
From the article:
Owing to vast under-investment in fossil fuels in recent years, driven by Green Energy mandates and misguided incentives, an energy-starved world is turning back to coal as natural-gas and oil shortages accelerate.
That’s right. Coal was left for dead several years ago, a sacrificial offering to the anti-CO2 fanaticism of the world Climate Change zealots. But prices today are at all-time highs, where spot coal prices at Australia’s Newcastle port, a key supplier to Asia, topped $400 a ton for the first time last month.
As the Wall Street Journal recently summarized it,
The push is being led by Europe, which is boosting coal purchases to ensure it can keep power flowing to homes and factories after Russia cut gas supplies to the continent. Germany, which has promised to eliminate coal as a power source by 2030, is among the nations now importing more. In fact, Green Party leader and Economy Minister, Robert Habeck, called the increased reliance on coal bitter but necessary.
In addition to Germany, Italy, France, the U.K., the Netherlands and Austria have now said they are preparing to restart coal-fired power plants, boost their production or keep them running longer than planned.
Parts of the US are boosting use of coal power, as high demand for electricity amid unusually hot temperatures pushes regional power grids to the brink of blackouts this summer.
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AOC is pissed and the Far Left Climate Change Wackos are going insane.
Owing to vast under-investment in fossil fuels in recent years, driven by Green Energy mandates and misguided incentives, an energy-starved world is turning back to coal as natural-gas and oil shortages accelerate.
That’s right. Coal was left for dead several years ago, a sacrificial offering to the anti-CO2 fanaticism of the world Climate Change zealots. But prices today are at all-time highs, where spot coal prices at Australia’s Newcastle port, a key supplier to Asia, topped $400 a ton for the first time last month.
As the Wall Street Journal recently summarized it,
The push is being led by Europe, which is boosting coal purchases to ensure it can keep power flowing to homes and factories after Russia cut gas supplies to the continent. Germany, which has promised to eliminate coal as a power source by 2030, is among the nations now importing more. In fact, Green Party leader and Economy Minister, Robert Habeck, called the increased reliance on coal bitter but necessary.
In addition to Germany, Italy, France, the U.K., the Netherlands and Austria have now said they are preparing to restart coal-fired power plants, boost their production or keep them running longer than planned.
Parts of the US are boosting use of coal power, as high demand for electricity amid unusually hot temperatures pushes regional power grids to the brink of blackouts this summer.
---------------------
AOC is pissed and the Far Left Climate Change Wackos are going insane.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group