Lately, I have read countless articles seeking to explain the motives behind why the big oil companies are buying up smaller competitors and why clean energy project cancellations are a failure of government policy to motivate a rapid energy transition. The line on oil companies is that they must be motivated by bullish oil demand[…]Read More
The September sell-off in utilities was due to concerns about profitability of renewable development, not interest rates. Renewable developers (not utilities) are facing cost pressures from supply chain, labor and financing costs. Offshore wind has been hit hardest and the East Coast projects have cost increases of 50% leading to write-offs and cancellations. Onshore wind[…]Read More
By now, it’s not controversial to say that fighting a war on illicit drug supply rather than demand has been a failure. It hasn’t reduced addiction and it has increased crime, violence, incarceration, etc. Moreover, when the war on supply pushes up the cost to consumers, an alternative appears in the form of prescription opioids.[…]Read More
The Green New Deal was put forth on Feb 7, 2019, as House Resolution 109. It wasn’t just about clean energy. It was also about environmental justice, income inequality, job creation, access to health care, affordable housing, etc. (www.congress.gov) While it was widely criticized as being too broad and lacking specifics, it was my view[…]Read More
As we wrap up 2022 and look forward to 2023, talk of an oncoming recession is all around us. This would normally be a concerning outlook for the cyclical energy industry, but this energy up-cycle is not driven by strong demand. It is instead driven by a lack of supply. In the past, geopolitical events[…]Read More
To paraphrase Michael Douglas in “The American President” (Universal Pictures, 1995), whatever the voter’s problems, most politicians have no interest in solving them. They have interest in two things and two things only; making them afraid of it and telling them who’s to blame for it…. that folks, is how you win elections. It’s a[…]Read More
Energy Income Parnters (EIP) and Arbo came together to examine this recent decision and how it might affect investors in the energy and utilities sectors. This highly technical case about specific language in the Clean Air Act has triggered a lot of commentary about its effect on the EPA and its ability to regulate[…]Read More
Two of the best annual reports on global energy supply and demand came out over the last two weeks: The International Energy Agency (IEA) Report on capital spending and the bp Statistical Review of World Energy 2022 (BP Report). Spoiler Alert: Demand is up, and supply is lagging. The pandemic introduced a lot of uncertainty[…]Read More
Now that petroleum and natural gas are in short supply (along with every other commodity), prices have spiked and the initial shock to our collective senses of the Russian invasion of Ukraine has been absorbed, it’s time to start passing blame. Experience informs us that the one blaming the loudest is usually the one either[…]Read More
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