new fossil fuel sources + overproduction = bankruptcy for greedy developers

❝ For decades, elected leaders and corporate executives have chased a dream of independence from unstable or unfriendly foreign oil producers. Mission accomplished: Oil companies are producing record amounts of crude oil and natural gas in the United States and have become major exporters…With a global glut driving down prices, many are losing money and are staying afloat by selling assets and taking on debt…

❝ In the last four years, roughly 175 oil and gas companies in the United States and Canada with debts totaling about $100 billion have filed for bankruptcy protection. Many borrowed heavily when oil and gas prices were far higher, only to collectively overproduce and undercut their commodity prices. At least six companies have gone bankrupt this year, and Weatherford International, the fourth-leading oil services company, which owes investors $7.7 billion, is expected to file for bankruptcy protection…

❝ One concern is that the industry will be forced to leave oil and gas in the ground as climate change prompts environmental restrictions on drilling or a shift to alternative fuels.

As usual, the fossil fuel barons relied on their political bubbas in the White House and Congress to stand in the doorway to blockade any changeover to cleaner and cheaper energy generation. Climate change deniers from both parties were doing their share. Trump was elected and pledged to continue his own variety of populist ignorance to support backwards as the only true American direction.

A funny thing happened on the way to the bank, though. The rest of the world ignored our crooks and hustlers. As did a number of state governments. Not the majority. Just the states that understand that science and engineering, progressive policies result in cleaner, forward-looking economies.

Doesn’t mean problems are all solved. “Backwards” still includes a lot of federal flunkies calling themselves Democrats and Republicans. Change is only coming in the fullest sense of the word if all the deadwood is cleared out of the way.

Fossil fuel subsidies even greater than military industrial complex


The US Capitol power plant burns coalJim Lo Scalzo/EPA/Shutterstock

❝ The United States has spent more subsidizing fossil fuels in recent years than it has on defense spending, according to a new report from the International Monetary Fund.

The IMF found that direct and indirect subsidies for coal, oil and gas in the U.S. reached $649 billion in 2015. Pentagon spending that same year was $599 billion.

❝ Oil, gas and coal companies — and their stooges in public office — have long argued that making consumers pay for the full impacts of fossil fuel use would cripple the economy. The IMF experts call bullshit on this idea, revealing that the world would, in fact, be more prosperous. Eliminating subsidies for fossil fuels would have created global “net economic welfare gains” in 2015 of “more than $1.3 trillion, or 1.7 percent of global GDP…”

Between stooging for corporations killing us with fossil fuels and the military-industrial complex pouring money down the death and destruction rathole, that’s well over a trillion dollar$ a year in wasted money. Funds that could have been spent on healthcare, improved public education, any number of programs designed to benefit the working folks of America.

Trump’s flunky refuses to sign Arctic Climate Declaration


Mandel Ngan/Pool

❝ The United States has refused to sign an agreement on challenges in the Arctic due to discrepancies over climate change wording, diplomats said on Tuesday, jeopardizing cooperation in the polar region at the sharp edge of global warming.

❝ With Arctic temperatures rising at twice the rate of the rest of the globe, the melting ice is creating potential new shipping lanes and has opened much of the world’s last untapped reserves of oil and gas to commercial exploitation .

A meeting of eight nations bordering the Arctic in Rovaniemi in Finland on Tuesday was supposed to frame a two-year agenda to balance the challenge of global warming with sustainable development of mineral wealth.

❝ But sources with knowledge of the discussions said the United States balked at signing a final declaration as it disagreed with wording that climate change was a serious threat to the Arctic.

Our pantywaist president and his pimp, Pompeo, aren’t about to admit to science when they are committed to oil and other mineral profiteers ready to strip-mine the Arctic. The two of them – Pompeo and Trump – are in a fancy dress footrace to see who is the best imitation Mussolini to run the next two or more terms as fake president.

Who’s making the biggest hole in worldwide oil? Chinese electric buses.

❝ While electric cars are displacing global oil demand at increasing rates, new research shows electric buses are making a much bigger mark overall thus far.

Electric vehicles have displaced about 3 percent of total oil consumption growth since 2011, a larger share than ever before. And so far, more than three-quarters of that oil displacement has come from electric buses, Bloomberg reports.

❝ The report estimates that “for every 1,000 electric buses on the road, 500 barrels of diesel are displaced each day.” The same number of battery-powered electric vehicles only displaces 15 barrels of oil a day, by comparison.

Most of this is occurring in China, Bloomberg notes. A report last year found that of about 385,000 electric buses in the world in 2017, about 99 percent of them were in China, with rapid growth still taking place. The city of Shenzhen alone announced in 2017 that it had completely electrified its fleet of 16,000 buses.

Not that you’re going to see much about this on Fox News. Or most mainstream media for that matter.

Trump will go to Utah to crap on National Monument – followed by 5 Indian Nations suing his ugly butt!


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President Donald Trump will fly into Utah on Monday to announce that he’ll shrink the Bears Ears and Grand Staircase-Escalante national monuments…

Trump will travel to Salt Lake City, where he’ll explain why he’s changing the boundaries of the two monuments, the sources said on condition of anonymity because they were not authorized to speak publicly about the trip.

The president is not expected to visit either monument or stay in Utah overnight…

Sen. Orrin Hatch and other Utah officials have pressed Trump to either eliminate or shrink the monuments, which cover large swaths of federal lands in the southern part of the state.

Did you think the fossil fuel cretins would rollover when they have a scumbag they own in the White House?

“The tribes view this as an affront to themselves and their own self-determination,” said Natalie Landreth, senior staff attorney for the Native American Rights Fund. “All of us, all five tribes, will be suing jointly the day he makes an announcement.”

Five tribes — the Hopi, Navajo Nation, Ute Mountain Ute Tribe, Pueblo of Zuni and the Ute Indian Tribe — make up the Bears Ears Inter-Tribal Coalition that advocated for the monument. Landreth said they have not determined which federal court the group would file the lawsuit in but that it would be about violating the Constitution’s separation of powers.

“This illegal action will cement Trump’s legacy as one of the worst presidents in modern history,” said Randi Spivak, public lands program director at the Center for Biological Diversity. “Trump has no clue how much people love these sacred and irreplaceable landscapes, but he’s about to find out. He’s shown his blatant disregard for public lands, Native Americans and the law. We look forward to seeing him in court.”

The thugs who pimp for fossil fuel interests throughout the American West are accustomed to having their own way in federal courts. Between Rapacious Republicans and Blue Dog Democrats they haven’t faced much opposition in decades. Meanwhile, true environmental movements – apart from slightly green-tinged politicians – have built a base at the grassroots capable of defeating a surprising number of phonies whose entire view of wilderness and nature derives from overflights, usually on someone else’s dime.

Trump’s $20 Billion/Year Welfare Check to Dirty Energy


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Millions of Americans may be struggling to pay routine household bills, but still US taxpayers are handing out a whopping $20 billion in fossil fuel subsidies a year.

This is the major finding of a new report Dirty Energy Dominance: Dependent on Denial published by Oil Change International…

…There is something deeply ironic about the Trump Administration subsidizing an industry with billions of dollars which is causing climate change which is costing billions to America and Caribbean nations from hurricane-related damage.

But the irony gets worse. There is something morally wrong with a billionaire-led Administration handing out money to rich executives, when this money could help America’s poorest and most at need.

The cost of the subsidies to American taxpayers is equivalent to the projected 2018 budget cuts from Trump’s proposals to slash 10 public programs and services, including supports for America’s most vulnerable children and families.

Read ’em and weep, folks. Here’s the Report.

Future economics: This is how Big Oil will die

❝ It’s 2025, and 800,000 tons of used high strength steel is coming up for auction.

❝ The steel made up the Keystone XL pipeline, finally completed in 2019, two years after the project launched with great fanfare after approval by the Trump administration. The pipeline was built at a cost of about $7 billion, bringing oil from the Canadian tar sands to the US, with a pit stop in the town of Baker, Montana, to pick up US crude from the Bakken formation. At its peak, it carried over 500,000 barrels a day for processing at refineries in Texas and Louisiana.

But in 2025, no one wants the oil.

Thanks, @Smartalix

California has beaucoup solar power — so much that other states are sometimes paid to take it

❝ On 14 days during March, Arizona utilities got a gift from California: free solar power.

Well, actually better than free. California produced so much solar power on those days that it paid Arizona to take excess electricity its residents weren’t using to avoid overloading its own power lines…

The number of days that California dumped its unused solar electricity would have been even higher if the state hadn’t ordered some solar plants to reduce production — even as natural gas power plants, which contribute to greenhouse gas emissions, continued generating electricity…

❝ Why doesn’t California, a champion of renewable energy, use all the solar power it can generate?…

❝ The answer, in part, is that the state has achieved dramatic success in increasing renewable energy production in recent years. But it also reflects sharp conflicts among major energy players in the state over the best way to weave these new electricity sources into a system still dominated by fossil-fuel-generated power

That’s the polite way to put it.

❝ …The California Legislature has mandated that one-half of the state’s electricity come from renewable sources by 2030; today it’s about one-fourth. That goal once was considered wildly optimistic. But solar panels have become much more efficient and less expensive. So solar power is now often the same price or cheaper than most other types of electricity, and production has soared so much that the target now looks laughably easy to achieve.

At the same time, however, state regulators — who act independently of the Legislature — until recently have continued to greenlight utility company proposals to build more natural gas power plants.

Generally, when folks are sleeping in a strange bed it involves sex or money or both. RTFA and decide how much of each is involved.

Earthquake trends in Oklahoma related to wastewater injection


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❝ According to the U.S. Geological Survey (USGS), the number of earthquakes east of the Rocky Mountains has increased dramatically since 2009. More earthquakes in these areas have coincided with the increase in oil and natural gas production from shale formations. Seismic events caused by human activity — also known as induced seismicity — are most often caused by the underground injection of wastewater produced during the oil and natural gas extraction process…

Before 2009, Oklahoma might have experienced one to two low-magnitude earthquakes per year. Since 2014, Oklahoma has experienced one to two low-magnitude earthquakes per day, with a few instances of higher magnitude (between magnitude 5 and 6) earthquakes that caused some damage.

In addition to the increased use of wastewater injection related to oil and natural gas production in the region, the geologic conditions in central Oklahoma are conducive to triggering seismic activity. The rock underlying the formations where disposal water is being injected in the region has existing faults that are susceptible to the changing stresses caused by fluid injection. Without these geologic conditions, induced seismicity would be much less common. For example, induced seismicity in the Bakken region of North Dakota and Montana is relatively rare.

❝ The USGS in 2017 issued an updated seismic hazard forecast for the central and eastern United States. This forecast attempts to estimate the chance of damage caused by earthquakes in the region of interest. The 2017 forecasted seismic rates are still significantly elevated compared with pre-2009 levels but lower than their peak in 2015.

The USGS report indicates that the recent decline may be related to decreased wastewater injection, because production in the region has decreased since the 2014 drop in oil prices. Actions by authorities in various states to regulate wastewater injection practices and restrict injection into the most sensitive areas may also be helping to reduce both the number and intensity of small earthquakes.

Give ’em a chance, folks. My experience with fossil fuel producers in Gulf States and the Permian Basin tell me nothing trumps profits. Not damage to the environment. Not light-to-medium damage to homes and businesses. It will take heavy-duty death and destruction to press these greedy bastards to find healthier ways to fill their pockets.