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Thursday, Nov 30th

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California goes on offense against Big Oil

 California sues big oil

Democratic California Gov. Gavin Newsom announced a lawsuit Saturday against five major oil companies and their subsidiaries, seeking compensation for damages caused by climate change.

The suit, filed in San Francisco County Superior Court by Democratic Attorney General Rob Bonta, accuses the companies of knowing about the link between fossil fuels and catastrophic climate change for decades but suppressing and spreading disinformation on the topic to delay climate action. The New York Times first reported the case Friday.

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Biden to cancel oil and gas leases in Alaska issued by Trump administration

Biden to cancel gas and oil leases

The US interior department has canceled seven oil and gas leases in Alaska’s Arctic national wildlife refuge that were part of a sale held in the waning days of the Trump administration, arguing the sale was legally flawed.

The interior secretary, Deb Haaland, said with her decision to cancel the remaining leases “no one will have rights to drill for oil in one of the most sensitive landscapes on earth”. However, a 2017 law mandates another lease sale by late 2024. Administration officials said they intend to comply with the law.

Two other leases that were issued as part of the first-of-its-kind sale for the refuge in January 2021 were previously given up by the small companies that held them amid legal wrangling and uncertainty over the drilling program.

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US to announce release of 15M barrels of oil from strategic reserve

US will release 15M barrels of oil

The U.S. will release 15 million barrels of oil from its strategic reserve, Biden administration officials plan to announce Wednesday.

The 15 million barrels are the final tranche of a disbursement of 180 million announced in March and come as energy prices threaten to rise again less than a month before Election Day.

Rising prices have emerged as a drag on Democrats as polls show the economy is one of the issues most top of mind for voters as they head to the ballot box. Early voting began in some states this week.

The sale comes after OPEC+ announced a production cut of 2 million barrels of oil per day earlier in October. Oil prices had dipped as low as $75 per barrel in September before rebounding after the OPEC announcement to more than $90. West Texas Intermediate crude is now at $83 per barrel.

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Drone strikes knock out half of Saudi oil capacity, 5 million barrels a day

Saudis shut down half of oil output after attackDrone strikes on Saudi Arabian oil facilities have disrupted about half of the kingdom's oil capacity, or 5% of the daily global oil supply, people with knowledge of Saudi's oil operations told CNN Business.
Yemen's Houthi rebels on Saturday took responsibility for the attacks, saying 10 drones targeted state-owned Saudi Aramco oil facilities in Abqaiq and Khurais, according to the Houthi-run Al-Masirah news agency.
Five million barrels per day of crude production have been impacted after fires raged at the sites, one of them the world's largest oil production facility, people with knowledge of the kingdom's operations said. The latest OPEC figures from August 2019 put the total Saudi production at 9.8 million barrels per day.

Wholesale energy prices dip below zero because of California’s solar power

Solar power in CaliforniaSolar power shines bright in California, and wholesale energy prices prove it. Last winter and early spring’s dependence on solar drove wholesale energy prices to negative prices, according to the U.S. Energy Information Administration.

Solar power in the California Independent System Operator accounted for nearly 40% of net grid power for three hours on March 11, 2017, the administration reports —a major first.

These figures don’t translate for the consumer into retail prices, which are based on averages. But the move will likely cause energy companies to pay more attention to green energy options.

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Nuclear reactor at Indian Point plant in N.Y. shut down again after leak found

Indian Point reactor leakOne of two reactor units at a nuclear power plant near New York City has been taken offline for the second time in four months after leakage was found in a pipe that pumps water into the facility, officials said Friday.

Reactor Unit 2 at the Indian Point Energy Center in Buchanan, N.Y., was shut down Thursday after discovery of the malfunction. Officials said the leak was found in a non-radioactive part of the plant.

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Portugal runs for four days straight on renewable energy alone

Portugal runs four days on renewable energyPortugal kept its lights on with renewable energy alone for four consecutive days last week in a clean energy milestone revealed by data analysis of national energy network figures.

Electricity consumption in the Iberian country was fully covered by solar, wind and hydro power in an extraordinary 107-hour run that lasted from 6.45am on Saturday 7 May until 5.45pm the following Wednesday, the analysis says.

News of the zero emissions landmark comes just days after Germany announced that clean energy had powered almost all its electricity needs on Sunday 15 May, with power prices turning negative at several times in the day – effectively paying consumers to use it.

TVNL Comment:  Why, just why, are we always behind other countries in so many things?  Just asking...

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