Germany's Energy Situation Has Deteriorated This Past Week; Germany Taking Increasingly Serious Action -- June 19, 2022

 The Energy Transition Is Dead

Link here. "The energy transition is dead. We just haven't realized it yet." -- Peter Zeihan

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Greta's Head Is Exploding Today
Assuming She Even Cares Any More
Germany Moving Back To Coal

This is what Germany is facing, link here. In my twitter energy feed, this appears to be the #1 story:

In view of the throttling of gas supplies from Russia, the federal government is taking additional measures to save gas. In this way, the use of gas for power generation and industry will be reduced and storage tanks will be filled.

Federal Economics and Climate Protection Minister Robert Habeck:

“The situation on the gas market has deteriorated in recent days. The missing quantities can still be replaced, and the gas storage tanks are still being filled, albeit at high prices. Security of supply is currently guaranteed. 

But the situation is serious. 

We are therefore further strengthening precautions and taking additional measures to reduce gas consumption. 

This means that gas consumption must continue to fall, so more gas must be stored in storage, otherwise things will get really tight in winter. 

We will now take the next steps. 

For months we have been in the process of sharpening tools, creating new ones and removing existing obstacles. We are accelerating the expansion of renewable energies in an unprecedented way, we are pushing through the storage of gas and driving the expansion of LNG terminals and energy efficiency measures. The urgency of these tasks determines our ongoing work. 

Now we're going to pull out and use another set of tools. 

We will reduce gas consumption in the electricity sector and in industry and force storage tanks to be filled. Depending on the situation, we will take further measures.” 

The minister made it clear: “The tense situation and high prices are a direct consequence of Putin's war of aggression against Ukraine. There is no mistake. What's more, it's obviously Putin's strategy to unsettle us, drive up prices and divide us. We won't allow that. We defend ourselves resolutely, precisely and thoughtfully.”

Tea leaves: when President Biden returns from Saudi Arabia after his non-meeting with Prince MBS, the US SecEnergy is going to make a similar statement regarding the US. But it won't be coal: it will most likely be a ban of some sort on refined products (gasoline / diesel) from the US.  

I cannot think of any other option that would change things so quickly for the US consumer.

I'll write the SecEnergy Jen Granholm speech for her:

In view of the high price of gasoline, diesel fuel and heating oil, that the US oil sector has refused to acknowledge, the federal government is taking additional measures to bring the price of gasoline down. We cannot afford to destroy the US economy when the oil companies will not do their patriotic duty to help us bring the price of gasoline down for the working American.

The situation with regard to the price of gasoline has deteriorated in recent days. The high prices are destroying the American dream. Even worse, the security of adequate gasoline supply cannot be guaranteed if Exxon continues with their destructive policies.

To repeat: the situation is serious. 

We are therefore further strengthening precautions and taking additional measures to bring the price of gasoline down.

If we don't take serious action, things will only get worse as we move into peak driving season, August, just a month away.

Therefore, we will now take the next steps. 

For months we have been in the process of sharpening tools, creating new ones and removing existing obstacles. We are accelerating the expansion of renewable energies in an unprecedented way, we are pushing the oil sector to drill more and refine more. But the urgency of these tasks has become even more urgent. 

Now we're going to pull out and use another set of tools. 

We will temporarily ban the export of US refined products. The President will sign an executive order that the US will curtail the export of gasoline, diesel, and heating oil for the next three months. 

Depending on the situation, we will take further measures.

The president will appoint a bi-partisan committee with a dual mandate: bring the price of gasoline down to historical levels and expedite the transition to renewable energy. The members of the committee, headed by the vice-president, Ms Kamala Harris, will include John Kerry, Elizabeth Warren, Diane Feinstein, Bernie Sanders and Mitt Romney.

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The Sports Page

US Open at Brookline, MA.

Matt Fitzpatrick won as US amateur in 2013. Eighteen years old.

Matt Fitzpatrick won today as US Open Champion, 2022. Braces on his teeth.