Dem Candidates on Climate

February 29, 2020

Key statements: Candidates in alphabetical order.

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Teslarati:

Tesla’s “big battery” utility-scale Powerpack system at the Hornsdale Power Reserve in South Australia has yielded more than doubled the savings to consumers in 2019 than the year prior as it dominates fossil fuel generators on quicker demand response for the grid.

Hornsdale Power Reserve saved consumers AUD116 million ($75.78 million) in 2019, a big jump from  AUD40 million ($26.14 million) savings in 2018.

The Hornsdale Power Reserve, owned and operated by French renewable energy producer Neoen, is home to the largest lithium-ion battery energy storage system in the world with a 100 MW/129 MWh. Tesla Powerpack has been playing a significant role in grid stability since its installation in 2017, a function previously dominated by fossil fuel generators that bring energy prices high during system faults of planned maintenance.

“Hornsdale has just been the best asset for the state, and for us as well, it’s a real success story,” head of development at Neoen Australia Garth Heron said in an interview with RenewEconomy. We have shown that these kinds of systems can work. It saves consumers a lot of money, and it’s something we should be rolling out right across the market.”

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Trailer: Contagion

February 29, 2020

Pure science fiction, of course.

That’s for damn sure.

Cigarette smoking doesn’t kill.

Evolution? Nah.

Climate change? That’s crazy leftist talk.

Put that man in charge of a pandemic.

pence
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Quickie-Printing Veggie Steaks

February 26, 2020

The future is here, it’s just not well distributed. – William Gibson

Remember typewriters? Film in cameras? Xerox? AOL?

Exxon?

Market Watch via Institute for Energy Economics and Financial Analysis:

Even Wall Street firms are urging clients to dump energy stocks

While the S&P 500, the Dow Jones Industrial Average, and the Nasdaq Composite index hover near all-time highs, energy stocks have fallen on very hard times.

Exxon Mobil — the world’s most valuable public company as recently as 2012 — has seen its stock price plunge about 40% from its all-time high above $100 a share in June 2014, a loss of more than $180 billion in market capitalization. The Energy Select Sector SPDR ETF, the largest energy-sector ETF, is down by a similar amount from that date.

Meanwhile, the S&P has surged more than 70% over those 5 1/2 years, outperforming energy stocks by over 100 percentage points.

An oil glut in the wake of the shale oil boom, which has vaulted the U.S. to the top of global energy producers, has caused some of the sector’s stock-market troubles. That oversupply has persisted, despite production cuts, and has kept oil prices in the $50-a-barrel range. This year, fears of the coronavirus have triggered another sharp sell-off in energy shares.

Corporations and big investors, who have to live in the real world and not on Planet Wishful Thinking, are stepping up. Their big bottom-line fear: Much of the carbon-based energy reserves companies like Exxon Mobil — the biggest stock in Energy Select Sector SPDR ETF, followed by Chevron and ConocoPhillips — have spent decades accumulating will remain in the ground or under the sea. Those potential “stranded assets” — assets these companies may never use and may even have to write off — have prompted Wall Street firms to mark down energy stocks’ valuations and urge clients to dump the shares.

That’s why the five-year bear market in energy stocks may turn out to be as permanent as the secular decline in newspaper publishers or department stores.

Longer article, read the rest here.

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