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Monday, July 18, 2022

Start Spreading The News -- WTI Trending Back To $100 -- July 18, 2022

Earnings: start this week with the banks

Semis:

  • TSM vs Samsung, link pending

Dividends paid Friday;

  • SRE: regular
  • COP: special

***************************
Back to the Bakken

Far Side: new stuff.

WTI: $102.20.

Natural gas: $7.407

Active rigs: 43 or thereabouts.

Tuesday, July 19, 2022: 15 for the month, 15 for the quarter, 354 for the year

  • None.

Monday, July 18, 2022: 15 for the month, 15 for the quarter, 354 for the year

  • 38673, conf, CLR, Bang 8-4H,

Sunday, July 17, 2022: 14 for the month, 14 for the quarter, 353 for the year

  • 37146, conf, Hess, BL-Olson-155-96-0310H-2,

RBN Energy: what will it take to make the energy transition happen, part 4.

When you boil it down, there are only two energy-related responses to Russia’s war on Ukraine. First, there’s a big push to find sources of crude oil, refined products, natural gas and NGLs to replace Russian supplies as quickly as possible. Second, governments on both sides of the Atlantic are scrambling to reaffirm and even expand commitments to lower-carbon energy sources to delink from Russian hydrocarbons as well as meet energy transition goals. Both raise the same question: How fast can the world bring online any new sources of energy on the scale needed? Policymakers would like to believe the answer can be found through the stroke of a legislative pen invoking aspirational language. No one doubts the power of that pen to create incentives or impediments. But the answer to that question is dictated by the realities of the physical world. In today’s RBN blog, we discuss the options for accelerating the availability of the minerals, metals and other materials needed to build the required machinery for the energy transition.

As we said in Part 1, all the favored energy-transition technologies — solar, wind and batteries — require a lot more stuff to be mined, refined, fabricated and constructed to replace the same amount of energy provided by the hydrocarbon-based energy infrastructures that power the world today. In many cases, we’re talking about an unprecedented 3x to 70x increase over today’s use of not only a wide array of metals such as copper, nickel, aluminum, lithium and neodymium, but also a 10x jump in the use of basic materials such as steel, glass and concrete.

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