At the link, release date (most recent data): November 4, 2021; next release date, December, 2022. The numbers will change dramatically after the next release. It is noteworthy that Texas is among the top five lowest-cost states despite that "Texas freeze" in 2021.
- Selected states, average retail price, cents/kWh:
- Massachusetts: 18.19 cents.
- California: 18 cents.
- Texas: 8.36 cents.
- North Dakota: 8.53 cents.
- Least expensive:
- Louisiana, 7.51 cents
- Oklahoma: 7.63 cents
- Idaho: 7.99 cents
- Most expensive, lower 48:
- Connecticut, 19.13 cents
- Rhode Island: 18.54 cents
- Massachusetts: 18.19 cents
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Shell Discovery Off Namibia
A bit of hyperbole? This is the headline:
Shell makes oil and gas discovery off Namibia's coast.
The story: Oil supermajor, Shell, has made a huge oil and gas discovery at a closely watched offshore well in the southern African nation of Namibia ...
So, how big was this discovery? Between 250 and 300 million bbls of oil and natural gas equivalent.
"A huge discovery..."
As the reader who sent me this story, if this is a "huge" discovery, how would Zacks describe the Bakken. The reader noted that NOG -- a non-operator that got its start in North Dakota -- has that much oil in the Bakken.
In fact, according to Zacks, this discovery is so "huge," "it is unclear if the discoveries are substantial enough for [Shell] to go ahead with the development of the country's first deepwater field."
The good news: if Namibia grants Shell the permits to drill, it's unlikely a Namibian judge will come back later and vacate the permit. Although, having said that, nationalization is always on the table.
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Driving Faux Environmentalists Nuts
There are stories now being reported that faux environmentalists are furious that oil companies and oil service companies are cashing in on carbon capture and sequestration. LOL.
This will make their heads explode: Schlumberger Tech got the contract for Northern Lights.
Northern Lights:
- part of Longship -- Norway's largest climate initiative
- a full-scale carbon capture and storage project
- operations are scheduled to start in 2024
- annual capacity of 1.5 million tons of CO2 / year
- possibility to expand to 3.5 million tons
- EU: designated Northern Lights as a Project of Common Interest
- key cross-border infrastructure program, linking European energy systems to achieve its energy and climate objectives and decided to provide $4.5 million for the expansion of the project
- not only is this a money-maker for SLB, it will offset its carbon impact elsewhere
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California Fossil Fuel Utilities, 1 -- Solar, 0
It would be interesting to know more of the backstory on this one.
- California's solar proposal is a game-changer: WoodMac
- California regulators considering a proposal to cut incentives and add fees for rooftop solar systems
- the proposals would double the payback periods for home solar to more than ten years;
- payback periods for projects built this year would increase from six years to fifteen years;
- bait-and-switch?
- the investment market? Invesco's Solar ETF suffered a $417 million of outflows in December, 2021, the worst month in its 14-year history;
One wonders what brought all this on? California's economy is booming; the state has a record surplus in its coffers.
This makes no sense at all considering California's commitment to carbon emissions.
My hunch: they looked at the outyears, 2030 and beyond, and did the math. Wanted to nip a disaster in the bud, as they say.
California is already among the top five most expensive states for electricity. Rooftop solar will make it even worse. California knows this will drive high-energy commercial users out of the state:
- gigabattery manufacturers
- conventional data centers
- crypto-mining
It's also possible 90% of Californians who will not "buy into" rooftop solar have started a letter-writing campaign complaining that their solar neighbors are getting a free ride.
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