Temperature in Boston at noon? Freezing. 32°F.
- at noon, demand is down to an amazingly low 12,691 MW;
- unfortunately, the price of electricity is now climbing, after an earlier mid-morning reversal;
- electricity now at the sixth decile, trending toward $110 / MW. Later: moved from <$110 at noon to >$130 in Boston early afternoon;
- oil contribution has dropped from a max of 3% to only 1%, now
- the interesting thing, coal is back on the chart, albeit barely
Oil stocks:
- lesson learned: priced right when penciling in $100-WTI
WTI: back to $102.80 after causing early morning heart attacks and strokes among perma-Perman bulls.
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Energy Transition is Dead
This happened faster than expected.
Translation: Greater oil production is compatible with energy transition [if it means I'm more likely to keep my job after the mid-term elections.]
EPA chief just saw this chart -- cost of batteries, link here:
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