Tuesday, January 29, 2019

Keeping The Riff-Raff Out -- January 29, 2019

It looks like the NDIC won't be reporting this morning. As of 9:06 a.m. the production data for wells coming off confidential list today have not been posted. No big loss. It appears two of the three wells will be DUCs. The third well, an Enerplus Steel is a huge well:

33969, conf, Enerplus, Steel 147-93-09D-04H-TF, Moccasin Creek, t--; cum --; production data to date:

DateOil RunsMCF Sold
11-20181415513482
10-20181727613032
9-2018264424535
8-201835723108
7-2018923108
Meanwhile:

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Fighting The Unicorn Is Expensive

From https://www.foxnews.com/opinion/texas-towns-environmental-narcissism-makes-al-gore-happy-while-sticking-its-citizens-with-the-bill
Political leaders in a college town in central Texas won wide praise from former Vice President Al Gore and the larger Green Movement when they decided to go “100 percent renewable” seven years ago. Now, however, they are on the defensive over electricity costs that have their residents paying more than $1,000 per household in higher electricity charges over the last four years.
That’s right - $1,219 per household in higher electricity costs for the 71,000 residents of Georgetown, Texas, all thanks to the decision of its Republican mayor, Dale Ross, to launch a bold plan to shift the city’s municipal utility to 100 percent renewable power in 2012.
Look at these numbers:
But while Ross was being lauded far and wide, the residents of his town were paying a steep price.
His decision to bet on renewables resulted in the city budget getting dinged by a total of $29.8 million in the four years from 2015 to 2018. [$30 million / 71,000 / 4 years =  $104/resident/year. Am I missing something? This works out to 30 cents/day. I often make simple arithmetic errors, but that's what I got.]
Georgetown’s electric costs were $3.5 million over budget in 2015, ballooning to $6.3 million in 2016, the same year the mayor locked his municipal utility into 20- and 25-year wind and solar energy contracts to make good on his 100 percent renewable pledge.
By 2017, the mayor’s green gamble was undercut by the cheap natural gas prices brought about by the revolution in high-tech fracking. Power that year cost the city’s budget $9.5 million more than expected, rising to $10.5 million last year, according to budget documents reported by The Williamson County Sun. [$10 million / 71,000 = $140 for the year or 40 cents/day. Again, maybe I'm missing something. This is less than a senior pays for coffee at McDonald's.]
And then this:
Most Texas residents have the ability to choose their electricity provider in a competitive statewide market, leading to electricity prices that are among the lowest in the nation: 18 percent below the national average in 2018, and 48 percent below prices in green energy pacesetter California.
Okay, so let's fact check. From Georgetown, TX: from their own website, the residents pay 11.10 cents/kWh, an incredible, whopping 1% more than the average rate paid by the rest of Texas, 10.98 cents/kWh.

This is exactly how FoxNews loses credibility. Or again, maybe I'm missing something. I quit watching Fox News a long time ago, but I do check in on their website daily.


4 comments:

  1. Somewhat related, I posed the following question in a thread about a story that renewable power will overtake traditional power by 2020.

    I asked - What is the price difference Britons will be paying per kwh with renewables? I’m not saying price is all that matters, but New England vs Texas prices are significant.

    The Response - Quick comparison of my tariff with a Big 6 company vs a supplier that specialises in "Green Energy".

    I pay 14.90p per kWh with a standing charge of 12.60p per day.

    The green company charges 15.78p per kWh and a standing charge of 17.30p per day.

    Mine is a 12 month fixed term vs an 18 month fixed term for the green company. Estimated cost for mine £329.08 per year, estimated for green company £355.51, an 8% increase.

    Comparison made for a 3 bed house with 2 adults.

    ReplyDelete
    Replies
    1. You are correct. Price is just one component. In most of the US, historically, cost was about the only component folks worried about.

      Now with renewable energy, we also worry about availability when needed (dispatachable); and, predictable monthly costs so we can budget. As we are seeing in Australia with prices spiking to $14,000/MWh it is becoming increasingly difficult to forecast monthly costs.

      Delete
  2. Two components though....public use and private. You will pay more for utilities privately, but you will also pay more in taxes to pay for the public use of power ( street lights, etc.)

    ReplyDelete

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