The World Can’t Take Much More Shale Gas
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Re: The World Can’t Take Much More Shale Gas
#2Re: The World Can’t Take Much More Shale Gas
#3Glad I didn't lock in a "low" price with my gas supplier. Everyone was predicting higher energy prices.
Re: The World Can’t Take Much More Shale Gas
#4Will this lead to more coal plants shutdown?
Re: The World Can’t Take Much More Shale Gas
#5Will this lead to more coal plants shutdown?
Yes and nuclear. Gas is better than coal for air pollution and slightly better (but still very bad) for climate. Nuclear is low carbon and doesnt have air pollution so it is terribly counterproductive to build gas in its place.
Re: The World Can’t Take Much More Shale Gas
#6Will this lead to more coal plants shutdown?
Yes and nuclear. Gas is better than coal for air pollution and slightly better (but still very bad) for climate. Nuclear is low carbon and doesnt have air pollution so it is terribly counterproductive to build gas in its place.
There was a sharp dive in coal stock prices around the turn of the year, and unlike oil they have not had a turnaround.
Are the coal companies going to zero?
Re: The World Can’t Take Much More Shale Gas
#7Earlier quoted context omitted.
Yes and nuclear. Gas is better than coal for air pollution and slightly better (but still very bad) for climate. Nuclear is low carbon and doesnt have air pollution so it is terribly counterproductive to build gas in its place.
There was a sharp dive in coal stock prices around the turn of the year, and unlike oil they have not had a turnaround. Are the coal companies going to zero?
Peabody Energy[1] operates the largest coal mine in the world (North Antelope Rochelle coal mine in Wyoming). Stock is trading around $2.80 down from ATH of $47 in Oct 2018.
A Chinese company recently abandoned plans to invest nearly $7billion in an Austrialian coal mine[2].
> A $6.7 billion Chinese mega mine coal project adjacent to the Adani venture in Queensland's Galilee Basin is in doubt after the company abandoned its bid for a mining lease.
> The company will not explain why it abandoned the process, but analysts believe the project is no longer aligned with China's interests in coal and is financially "unviable" given the difficulty companies face obtaining finance for coal developments.
Even the famous "Belt and Road" won't risk large investments in coal under the current conditions.
[1] https://www.google.com/search?q=NYSE:+BTU
[2] https://www.abc.net.au/news/2019-05-23/macmines-abandons-min...
Re: The World Can’t Take Much More Shale Gas
#8Glad I didn't lock in a "low" price with my gas supplier. Everyone was predicting higher energy prices.
Except for the data scientists at your gas company :)
Re: The World Can’t Take Much More Shale Gas
#9Related Bloomberg video on the profitability of fracking (16 min long): https://youtu.be/jFWHxZpF9rc
Re: The World Can’t Take Much More Shale Gas
#10Will this lead to more coal plants shutdown?
Yes and nuclear. Gas is better than coal for air pollution and slightly better (but still very bad) for climate. Nuclear is low carbon and doesnt have air pollution so it is terribly counterproductive to build gas in its place.
Gas is also laden with hidden costs. In particular, bad things happen when drilling shale and then more bad things building and running pipeline transports such as Dakota, Keystone, and Mariner. These things are all getting rammed through legislatures in a manner that bypasses all of the normal democratic process.
For example, Mariner East somehow got declared a public utility which gives Sunoco rights to eminent domain whatever they want along the route to maximize profits with minimal oversight. They ruin neighborhoods and property values, literally bulldozing through apartment complexes, under schools, through little league fields, contaminating aquifers, causing sinkholes, and this is before anything is pressurized. There are no disaster plans like you see for nuclear plants. All these downsides so Sunoco can offshore the product.
Late stage capitalism.