ENERGY

Authored by Mark Mills via RealClear Wire,

This essay is based on testimony delivered November 29, 2023, before the Congressional Subcommittee on Environment, Manufacturing and Critical Materials, House Committee on Energy and Commerce.

It is often useful to contrast rhetoric with reality. The phrase, an “energy transition,” the goal to replace hydrocarbons, has origins that trace back to a 1977 speech by President Jimmy Carter. It was an “address to the nation” that (more…)

Oil prices extended their recent plunge (to five-month lows) overnight following across-the-board inventory builds reported by API (especially at the Cushing hub). This morning's weak ADP report added more selling pressure (demand anxiety building on China concerns) as supply soars with US oil exports near record highs amid record high domestic crude production flooding the market, overshadowing Saudi Arabia’s pledges that OPEC+ will deliver on its planned production cuts.

Non-OPEC (more…)

By Charles Kennedy of OilPrice.com

Global emissions from the combustion of hydrocarbons such as oil and gas are set for another record this year, the Global Carbon Budget report has warned.

Released during the COP28 conference, the report said that global emissions will reach 36.8 billion tons this year, which would be a 1.1% increase in 2022, the report’s authors said.

The report is produced by a group of scientific institutions led by the University of Exeter.

These (more…)