Alboran Energy Strategy Consutlatns

Offshore wind

  • Energy Musings, September 1, 2023

    Written by

    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

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    September 1, 2023

    NJ Calls It “Choice” But It Is Really About “Free Money”

    The Governor of New Jersey is telling his residents that the legislation to ban the sale of internal combustion vehicles by 2035 is all about improving their choices in buying cars. Buy used or go next door are the answers for those who do not want an EV or hybrid. His climate director gave away the game: there is so much free money residents would be short-changing themselves if they didn’t grab some of it. Washington’s money printing press drives government policies. READ MORE

    Last Tuesday’s Duds For Offshore Wind

    BOEM’s Gulf of Mexico offshore wind lease sale received only two bids for the single Louisiana lease offered, while the two leases off Texas received no bids. The offshore wind movement took a hit. There are numerous reasons why developers were reluctant to bid. The same day, leading offshore wind developer Ørsted announced a $2.3 billion impairment of its U.S. offshore wind portfolio, the second impairment in 12 months. Inflation, capital costs, and reduced subsidies are the reason. The company is having similar problems with its North Sea projects. Ørsted’s stock fell by 25% as investors question if the bad news is over. READ MORE

    August Market Doldrums Are Over And Energy Did Well

    Energy was the best-performing sector for August, giving the sector a second consecutive month in the top spot. Fundamentals for the sector continue to improve, which enabled oil prices to rise over August. It appears global oil demand is growing, and supply is restrained supporting higher oil prices and energy company earnings, which drive stock prices. The balance of 2023 may see these trends continue. Enjoy the ride. READ MORE

    NJ Calls It “Choice” But It Is Really About “Free Money”

    New Jersey Governor Phil Murphy is a big green energy promoter. As the Wall Street Journal pointed out in an editorial, he wants to force residents to buy electric vehicles (EV) to save the planet. He has pushed the state to adopt California’s ban on the sale of new internal combustion engine (ICE) vehicles by 2035, barely over a decade from now. Murphy has not only championed EVs, but he also led the charge to give the state’s share of federal tax revenues from offshore wind destined for residents’ pocketbooks back to Ørsted, the Danish developer of the Ocean Wind project which has become a lightning rod of political outrage.

    By wanting to burnish his green credentials, Murphy pushed to have New Jersey, one of the 17 states that routinely follow California’s auto standards, join the dozen states that have also signed onto the ban on ICE vehicle sales. Murphy is selling his proposal as expanding the vehicle choice options for residents while disguising the reality that their ability to purchase a new ICE vehicle is going to be restricted as the state heads toward the 2035 ban.

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  • Energy Musings, August 24, 2023

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    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

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    August 24, 2023

    Is National Fisheries Pissed At BOEM?

    The latest comment letter from the National Marine Fisheries Service to BOEM about the Beacon Wind offshore projects. NWFS has concerns with the plan and was sharply critical of the way BOEM has handled the agency’s prior comments and concerns. The gauntlet was thrown down with the warning that continued ignoring of NWFS concerns would lead to a rejection of a “no jeopardy” ruling that would derail the wind farm’s development. How much is the surge in whale deaths playing in this interagency dispute? Another dead whale washed ashore on Monday – now 66 since December 1, 2022. READ MORE

    Is National Fisheries Pissed At BOEM?

    We recently read the August 14, 2023, cover letter to the Bureau of Ocean Energy Management (BOEM) from Michael Pentony, the Regional Administrator of the Greater Atlantic Regional Fisheries Office of the National Marine Fisheries Service (NMFS). NWFS is part of the National Oceanic and Atmospheric Administration (NOAA). The letter was in response to BOEM’s request for comments related to its Notice of Intent (NOI) to prepare an Environmental Impact Statement (EIS) for the construction, operation, and decommissioning (COP) of Beacon Wind Energy LLC’s proposed wind energy facilities (Beacon Wind 1 and 2) off the coast of Massachusetts.

    Pentony wrote of his organization’s concerns with the plan and recommended approaches to help ease the regulatory process. The letter also contained criticisms of BOEM’s work, with NWFS’ sharpest rebuke in the opening paragraph of Appendix A attached to the letter. The critical comment reflects frustration with BOEM’s treatment of NWFS’ input to previous requests for comments about various offshore wind projects. Here is what NWFS wrote in that opening paragraph in a section headed “Purpose and Need.”

    “Since NMFS is an action agency and anticipating a request for incidental take authorization under the MMPA [Marine Mammal Protection Act], we need our Purpose and Need for the action to be clearly stated in the EIS. While BOEM did provide cooperating agencies an opportunity to coordinate on development of the Purpose and Need for the EIS before publication of the NOI, corrections provided by NMFS were not incorporated in the Purpose and Need statement included in the NOI. Some of the edits made by BOEM are additional deviations from previously agreed upon language. We recommend this be corrected in the DEIS [Draft Environmental Impact Statement] by incorporating previously provided revisions for Beacon Wind and following template language developed through extensive interagency cooperation in 2022, including for the NMFS-specific purpose and need.”

    Where does this frustration with BOEM come from? Most likely it began with the December 1, 2021, comment letter about the Mayflower Wind (now known as SouthCoast Wind) NOI to prepare an EIS. In those comments, NMFS discussed the speed with which BOEM was putting out requests for input and information about various offshore wind projects, which was not allowing adequate time for the agency to respond. Pentony wrote in his cover letter for NWFS’ comments on the SouthCoast Wind project:

    “The high number of projects moving through the NEPA [National Environmental Policy Act] process between now and 2024 makes it very difficult for us to provide the detailed level of review and interagency cooperation we have provided in the past. The extensive interagency cooperation we have invested with you to improve the NEPA documents for previous wind energy projects is no longer feasible, and we will be required to take a more limited Cooperating Agency role in the process.”

    So BOEM was working so fast that a key agency that advises on the maritime and fishing environmental risks of offshore wind couldn’t do its job properly. Is that like a doctor skipping an examination before telling you what you must do to cure an illness?

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  • Energy Musings, August18, 2023

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    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

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    August 18, 2023

    Offshore Wind’s Whale Problem Getting More Attention

    Thrown To The Wind, a documentary by Michael Shellenberger highlights the issue of underwater noise from offshore wind construction activity and its potential link to the surge in whale deaths. We are killing humpback whales at twice the rate for a sustainable population! READ MORE

    Canada’s Clean Energy Moves

    Two announcements in Ontario about building new nuclear power plants may eliminate the province’s long-term power projected shortfall. Our west, Eco-Refinery is planning to build a GTL plant producing clean diesel fuel that is better for the environment and diesel consumers. READ MORE

    New England Electricity Users Rest Easier – Should They?

    New electricity demand forecasts, plus more behind-the-meter solar and delayed power plant closures are giving ISO-NE officials greater comfort that winter blackout risk is reduced. READ MORE

    Offshore Wind’s Whale Problem Getting More Attention

    The rising number of dead whales washing ashore along the East Coast of America is drawing greater scrutiny. Michael Shellenberger, an author, former public relations official, and investigator of the Twitter Files, who now publishes a newsletter on Substack.com called Public News, has begun writing about the dead whale issue. More importantly, an organization he started, Environmental Progress, along with his newsletter has produced a 30-minute documentary on the issue of underwater noise from offshore wind construction activity and its possible impact on whales. The movie highlights how loud underwater noise may contribute to the recent surge in whale deaths despite the government’s denial of any linkage. It certainly demonstrates how uncomfortable the noise is for humans!

    Starting in 2017 and up to November 2022, North American right whales have been suffering from an “unusual mortality event” with nine whales dying from entanglement with fishing gear and 20 from injuries. The National Oceanographic and Atmospheric Administration (NOAA) has noted that the recorded deaths represent only those known to the public because the carcasses washed ashore. Any whale dying offshore where the carcass sinks to the ocean floor remains unknown. We have no accurate whale death toll.

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  • Energy Musings, August 12, 2023

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    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

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    August 12, 2023

    The Unlevel Offshore Regulatory Playing Field

    Offshore wind has been adopted as the high-value way for America to cut its carbon emissions and stop climate change. The Biden-Harris administration has established a goal of installing 30 GW of offshore wind generating capacity by 2030. This goal has motivated offshore energy regulators to move aggressively to approve new wind projects. They have gone from impartial regulators to offshore wind cheerleaders. As they administer the regulatory process, they often ignore the laws and rules that should be governing the offshore wind program. Those laws and rules govern offshore oil and gas. Why are oil and gas treated differently than offshore wind?

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    The Unlevel Offshore Regulatory Playing Field

    “As part of the Biden-Harris administration’s goal of deploying 30 gigawatts of offshore wind energy capacity by 2030, the Bureau of Ocean Energy Management (BOEM) today announced it will initiate the environmental review of a proposed 2,430-megawatt wind energy project offshore Massachusetts.” That was the opening line of BOEM’s June 29th press release announcing the publication of its Notice of Intent (NOI) to prepare an Environmental Impact Statement (EIS) for the Construction and Operations Plan (COP) submitted by the wind project’s developer, Beacon Wind, LLC. One more offshore wind (OSW) project is moving forward.

    The announcement signaled the opening of the review process for Beacon Wind, whose highlights were described in the press release:

    “Construction and operation of two wind energy facilities (Beacon Wind 1 and Beacon Wind 2) offshore Massachusetts with a total capacity of at least 2,430 megawatts of clean, renewable wind energy, which could power over 850,000 homes each year.

    “Installation of up to 155 turbines, up to two offshore substation platforms, and up to two offshore export cables, which are planned to make landfall in Astoria, New York, and Waterford, Connecticut.”

    Those 155 wind turbines represent roughly 5% of the total expected to be approved by BOEM in support of the Biden-Harris administration’s OSW program. The program calls for building 30 gigawatts (GW) of offshore wind generating capacity by 2030. This will require 3,000 offshore wind turbines pounded into the seabed between Massachusetts and Virginia over the next seven years. Their approvals are being “streamlined” by BOEM, and that sea of turbines will be bolstered by another 5,000 turbines thereafter. Critics have described Biden’s OSW program as the “industrialization” of the Atlantic Ocean, suggesting it will dramatically change our offshore waters with the possibility of creating multiple environmental issues and potentially putting a meaningful portion of our fishing industry out of business.

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  • Energy Musings, July 14, 2023

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    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

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    July 14, 2023

    SouthCoast Wind Paused But Not By Lies

    Rhode Island Energy Facility Siting Board pauses SouthCoast Wind cable approval process until late 2024 over financial uncertainty and not potential management lies to the board. READ MORE

    Renewables Make New England Electricity Expensive

    New England electricity prices have climbed rapidly despite power consumption falling. The cost of meeting renewable energy mandates is driving those rapid price increases. READ MORE

    Tale Of Whale Deaths Not Pleasant Reading

    From December 1 to July 12, whale deaths off the East Coast totaled 56, or about eight a month, yet government regulators continue ignoring the possibility of a link to offshore wind construction. READ MORE

    SouthCoast Wind Paused But Not By Lies

    Recently, it came to light that a staff member of Rhode Island’s Coastal Resources Management Council (CRMC) sent an email to the administrator for the Rhode Island Energy Facility Siting Board (EFSB) claiming that the testimony of representatives of SouthCoast Wind at its June 12 show-cause hearing included several lies. The nature of the claims and how they arrived required the EFSB to notify all parties involved and make the email public. At the end of the day, it wasn’t this controversy but rather the uncertain future for the project that sank its transmission cable permit application.

    On Thursday, the EFSB voted unanimously to pause the cable application process until October 1, 2024, to give SouthCoast Wind time to secure new power purchase agreements (PPA) to finance the $5 billion, 804-megawatt (MW), 147 wind turbine project assuming it is selected in Massachusetts’ next offshore wind auction. It was this uncertain status that convinced the three EFSB members that it was inappropriate to use the agency’s limited resources to process the application only to have the project fail to secure new PPAs and be built.

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  • Energy Musings, June 29, 2023

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    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

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    June 29, 2023

    Body Blows To Wind Energy And Net Zero

    Turmoil has engulfed the offshore wind industry and its extent has become evident in the past several weeks. More dead whales washed ashore only days after foundations to support offshore wind turbines began being hammered into the ocean floor off Martha’s Vineyard. The leading offshore wind developer told financial analysts its U.S. offshore wind portfolio was not profitable, which was forcing the company to redesign, shrink, and terminate contracts. Ørsted has cut its 2030 offshore wind installed capacity target by 7%, and its actions impact its developments in Europe, too. Most telling was the CEO announcing a new U.S. project would go forward after the state agreed to give the company its 80% share of federal government tax credits.

    Compounding the industry’s problems was the announcement by Siemens Gamsea, the leading wind turbine manufacturer, that it would wipe out 40% of its profits due to the cost of correcting component failures and failure to meet productivity goals. The full extent of its problems remains unknown. Lastly, the U.S. Government Accountability Office announced it would commence an extensive investigation of offshore wind and its impact on the military, air transportation, marine ecology, the commercial fishing industry, and the resiliency of the wind turbines. This investigation comes after other government agencies have rebuffed the need for deeper inquiries into these issues. READ MORE

    Body Blows To Wind Energy And Net Zero

    Recent weeks have not been kind to the offshore wind industry. The stretch of bad news was capped by the following Financial Times headline: “Siemens Energy shares plunge after wind turbine problems deepen.” Siemens Gamsea announced late last Thursday it was withdrawing its financial profit guidance for 2023. The move was in response to its need to reserve $1.1 billion for warranty claims and expenses arising from technical problems with many of its onshore wind turbines. The next day, Siemens Energy, owner of Siemens Gamsea, saw its share price drop 37%. The stock price slide continued Monday with the share price down 3%, bringing to $8 billion the market value wiped out. Analysts worry that all the bad news is not out.

    Earlier, Ørsted, the Danish wind energy giant, told analysts at its annual capital day that it was scaling back its installed offshore wind goal for 2030 by redesigning, shrinking, and abandoning projects because they are uneconomic. Ørsted is terminating offshore wind project power purchase agreements in multiple U.S. states and pushing for higher subsidies in European wind markets. It presented a chart showing its U.S. offshore wind portfolio of projects will barely earn its weighted average cost of capital, an unacceptable financial return.

    Economics is not the only challenge offshore wind faces. Two dead humpback whales washed ashore on Martha’s Vineyard only days after the first Vineyard Wind turbine foundation was hammered into the ocean floor. Are the two connected?

    Because the whale carcasses remained in the surf, the National Oceanic and Atmospheric Administration (NOAA) announced it was abandoning plans to examine them in search of the cause of death. NOAA said such an investigation would be too difficult, despite NOAA being charged with protecting endangered marine mammals.

    Three other dead whales washed ashore on Long Island bringing the total of known dead whales since last December to 46. Senior NOAA and Bureau of Ocean Energy Management (BOEM) officials have stated there is no connection between offshore wind construction activity and dead whales. Yet, their researchers acknowledge they do not have a full understanding of how underwater noise may impact the behavior of marine mammals, especially whales. They want to undertake more studies. Is that the science we are supposed to follow?

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  • Energy Musings, June 10, 2023

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    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

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    June 10, 2023

    Our Next Open Border Courtesy Of Offshore Wind? 

    While the focus of national security has been on the illegal crossings of our southern border by terrorists and others, the East Coast may become vulnerable because of radar interference from offshore wind turbines. The issue of radar interference from onshore wind turbines has been known for years, but offshore turbines are more challenging. They are larger and there are no solutions for radar interference caused by them even after two decades of searching. Regardless, the Biden administration is racing ahead with building offshore wind farms, even over the objections of the Department of Defense because of their concern about radar interference. READ MORE

    Our Next Open Border Courtesy Of Offshore Wind?

    “The border is not open,” declares Homeland Security Secretary Alejandro Mayorkas as the media shows video of thousands of illegal migrants crossing our southern border with Mexico. Do not worry, nothing bad is going to happen. But many unsavory people, including some on the terrorist watch list, have crossed, let alone the drugs and sex trafficking.

    Is it possible the Biden administration will open another border? I am not talking about our Canadian border. I am focused on the East Coast where offshore wind turbines can interfere with our long-range radar (LRR) and short-term radar (SRR) which are key to our national defense. Only recently has the Department of Defense expressed serious concern about offshore wind impacting its ability to execute its mission, but they have been worried for years. Radar interference from offshore wind turbine generators (WTG) is a serious issue with no apparent solution.

    Exhibit 1. Schematic For Cape Wind Farm Off Massachusetts Coast

    Source: Getty Image

    We first delved into the radar interference issue when writing about the Cape Wind offshore wind farm in the early 2000s and its struggles for approval. The 468 megawatts (MW) wind farm would have been the first U.S. offshore wind farm. The power was to come from 130 3.6 MW WTGs installed in a 25-square mile section of Horseshoe Shoal in the federal waters of Nantucket Sound bounded by Cape Cod, Nantucket Island, and Martha’s Vineyard. Fierce political opposition from Massachusetts Senator Edward Kennedy (D), former Massachusetts governor Mitt Romney (R), conservative industrialist William Koch, and philanthropist Rachel “Bunny” Mellon helped kill the project.

    One issue that emerged during Cape Wind’s approval process was concern about radar interference by WTGs expressed by the Coast Guard and U.S. Navy. They were concerned about the impact on their operations and training. During the approval process, two radar interference studies were “submitted that attempt to assess the impact of the proposed wind turbines on typical marine radars used in the Nantucket Sound area.” Because “(n)either of the two documents fully evaluated the impact of the actual wind turbines proposed for the Cape Wind project,” the Coast Guard commissioned a third study, the results of which were reported in January 2009. A key conclusion of the study conducted by Technology Service Corporation (TSC) was:

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  • Energy Musings, June 2, 2023

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    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

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    June 2, 2023

    Oil Prices Are Crashing As Headwinds Grow Stronger

    Rapidan’s Robert McNally laid out the thesis for higher oil prices once we get beyond the next 3-6 months of macro-economic headwinds. Russia is feared as a quota-buster, but it will become a non-factor as global oil demand rises. The biggest threat to the oil industry is higher taxes, not climate change. READ MORE

    Energy Suffers In May As Oil Prices Fall After Rally

    During May, WTI oil prices fell by 11% which contributed to the Energy sector being the worst performer in the month. It is also the worst performer for the first five months of 2023. What will it take for better performance? READ MORE

    Latest Developments In The U.S. Offshore Wind Market

    New offshore wind farms along the New England coast are starting construction. However, political, economic, and now a proposed environmental protection area for whales could disrupt the timing of projects. We are following the multitude of developments. READ MORE

    Oil Prices Are Crashing As Headwinds Grow Stronger

    When the oil market opened following the Memorial Day holiday, oil prices dropped by more than 4%. From around $73 a barrel, oil prices fell to the $69 level before falling again on Wednesday. There are numerous reasons for oil price weakness including disappointing economic data from China, continued strength in the U.S. dollar’s value, concerns over the U.S. debt ceiling saga, persistent inflation, and the risk of further central bank interest rate hikes, capped off by uncertainty about the upcoming OPEC+ meeting. The prospect of an in-person gathering of OPEC+ officials has some oil watchers speculating that this meeting could lead to a further cut in production quotas or another period of market-share battles between Russia and Saudi Arabia. The banning of several media outlets from covering the gathering has further added to the mystery of what may happen this weekend in Vienna.

    Given the uncertainty about these macro issues, the commodity futures market remains susceptible to increased volatile moves reflecting trader sentiment shifts. For the past several years – essentially since the start of the pandemic in 2020 – oil trading has experienced a shrinking market as traders have retreated from participation or have reduced the amount of their commitment. In fact, according to the commitment of traders’ data, the net bullish positions are the lowest they have been since 2011.

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  • Energy Musings, May 19, 2023

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    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

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    May 19, 2023

    Who Will Save The Whales This Time?

    BOEM has proposed changes to its offshore wind farm approval process to speed it up. We do not know what changes will be adopted, but likely whales will remain threatened. Moreover, the changes are designed to help improve the economics of projects by reducing the regulatory burden and cost for developers. Still, BOEM and NOAA officials refuse to acknowledge that underwater noise from offshore wind development likely contributes to whale deaths. A new NOAA report highlights how much is not known about underwater noise and marine mammals. READ MORE

    Who Will Save The Whales This Time?

    If the Biden administration has anything to say about it, offshore wind farms need to be built faster even at the risk of killing more endangered whales. The johnny-one-note policy of fighting climate change at all costs with renewable energy puts marine mammals at risk. Some 23 whales have died along the East Coast in the past five months as offshore wind activity has picked up. Slowing the activity or pausing it until we better understand how underwater noise from construction activity may disorient marine mammals would be a smart move.

    Efforts are underway to revise the government’s rules for approving offshore wind farms making it easier for them to advance while ignoring the underwater noise and marine mammal issues. Equally questionable is accelerating approvals without requiring as much environmental data as early in the process as is now required.

    After a one-month extension of the public comment period, the Bureau of Ocean Energy Management (BOEM) is considering the feedback it received about its Renewable Energy Modernization Rule proposal. BOEM wants to modify the approval process for new offshore wind developments “to reduce administrative burdens for both developers and the Department’s staff, reduce developer costs and uncertainty, and introduce greater regulatory flexibility in a rapidly changing industry to foster the supply of OCS renewable energy to meet increasing demand, while maintaining environmental safeguards.”

    BOEM goes on to say that this is a “major modernization of the regulations,” which is based on lessons learned from the last 13 years. Modifying the process is estimated to save “the renewable energy industry $1 billion over 20 years,” certainly meaningful for an industry struggling to improve profitability while dealing with explosive inflationary pressures. Surprisingly, there is no mention of increased “safety or protection of commercial fisheries and species” when considering the potential conflict between fishermen and wind farm developers.

    When you read the 85 pages of proposed modernization actions in the January 30, 2023, edition of the Federal Register, you find numerous changes proposed that would allow the approval process to proceed at a faster pace than under the existing process. BOEM’s proposal lists eight major components for revision. They include:

    Eliminating unnecessary requirements for the deployment of meteorological (met) buoys.

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  • Energy Musings, April 18, 2023

    Written by

    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

    Download the PDF

    April 18, 2023

    Offshore Wind Is Hot; Rhode Island Only Got One Bid

    Is a single bid a sign of monopoly power or concern about economics of offshore wind projects? READ MORE

    Renewables Can Violate International Safety Standards

    Governments, except the Coast Guard, are waiving safety rules when shipping wind turbines. READ MORE

    Early 2023 Hurricane Outlook Is Positive

    Assuming El Niño develops, there will be slightly fewer storms, hurricanes, and days of storms. READ MORE

    EPA Takes America Back To Early 1900s

    Proposed emissions standards can only be met with transition to EVs, despite Americans’ dislike. READ MORE

    Offshore Wind Is Hot; Rhode Island Only Got One Bid

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  • Energy Musings, March 21, 2023

    Written by

    Allen Brooks

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    Energy Musings contains articles and analyses dealing with important issues and developments within the energy industry, including historical perspective, with potentially significant implications for executives planning their companies’ future.

    Download the pdf

    March 21, 2023

    Silicon Valley Bank Bankruptcy And Its Impact On Energy

    SVB was a major lender and deposit holder for tech and cleantech startup companies. Its bankruptcy removes a key financier in this space that will disrupt the energy transition. READ MORE

    Offshore Wind’s Economics Questioned By A Big Player

    New offshore projects continue to be proposed while the head of the U.S.’s leading renewable energy utility company warns his CERAWeek audience that “offshore wind is a bad bet.” READ MORE

    The Cost Of Getting To Net Zero By 2050

    States are mandating utilities reduce their carbon emissions to reach net zero by 2050. An analysis of Wisconsin’s plan shows its consumers will paying $248 billion (2022$) more. READ MORE

    SVB And The ESG And Woke Attacks

    Critics blame SVB’s ESG and DEI focus for its failure. They point to the directors’ backgrounds and associations. Their skills instead raise questions about the lack of management oversight. READ MORE

    Silicon Valley Bank Bankruptcy And Its Impact On Energy

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