More polarizing – Africa/Asia invests hundreds of billions in unnecessary hydrocarbon infrastructure, West arranges seats on deck of Titanic
I’m sure we’re all used to polarization by now, especially if you choose to soak in media brine. Buying avocados can be an act of war depending on who you choose to disclose that information to, and for reasons incomprehensible to me, a lot of us choose to announce such a purchase. via Instagram/TikTok/Twitter, amid endless wars over anything and everything. Hey, look what I’m eating and #$%^ you.
Energy is of course at the forefront of polarization, with one affluent/far-right group trying to destroy the world’s dominant fuel system and a larger group in danger of decay if it doesn’t expand. The former group refuses to admit – or fail to realize – that it is a subset of the latter, and so we get the front row seats for Western governments that are vehemently at odds with their own kin. day.
The energy polarization is fascinating because it’s all-encompassing and the stakes couldn’t be higher. On top of that, the West, not entirely colonizing, decided in the eleventh century in a row that it would determine how the world would develop.
Spoiler alert: regular readers know where this is headed, but disclosure is still necessary if for no other reason matters continue to get worse. Consider this a chronicle of historical records of the great leap we are witnessing live and in real time.
You should know how the world is shrinking in energy, and you should tell your friends.
It is important to note first that Canada’s energy industry is in fact moving mountains to comply with the wishes of our federal leaders. The marching orders were given, and the oil patch changed as well. Some people won’t believe it, because an industry death is a must (AOC, T Berman, D Suzuki, Greenpeace, Ecojustice, 350.org, etc.), but the truth is the oil patch is loading. burn energy transition work / reduce emissions. Progress is happening at an amazing rate.
Massive utilities – hundreds of billions of dollars plus are not known for their agility – are leading the way in carbon sequestration pipelines, storage hubs and related infrastructure. Eg, TC Energy and Pembina is seek to join forces with Cover and a consortium of oil sands producers to build a massive carbon capture system. Enbridge To be cooperate with a group of First Nations to develop carbon capture solutions. They are all building solar farms and installing wind turbines.
Oil and gas producers are also charging at full speed in that direction. Entropy Inc., a subsidiary of the natural gas producer in Calgary, has developed technology that enables carbon capture/absorption on a smaller scale, has raised hundreds of millions of dollars in capital and has clients. customers looking to deploy their technology. Ironically, a jumble of conflicting policies at the provincial and federal levels is holding back progress, because despite the speed at which governments claim to want to transition to energy, they clearly don’t know how. How to achieve it in such a quick timeframe. . To the surprise of absolutely no one.
At the smaller end of the scale, the base oil and gas sector has been almost completely dethroned by new energy technology companies developing new ways to produce hydrogen, reduce emissions, and regenerate it. old ways of doing business (repositioning old oilfields (Proton Technologies), recycling of waste materials (Rundle Ecosystem) etc. and write if you want that I’m ignoring your business and I beg error but there are literally hundreds of similar initiatives and my head only has room for a few at a time).
Yay, look at us, transforming energy! The world is saved.
Oh, about that. Does anyone really think that this incredibly large (and costly) oil/gas industry re-centralization is helping to reduce polarization?
Haha sorry. Haters still hate, and the bar is constantly increasing. I read transcript of the February 2022 meeting of the Federal Standing Committee on Natural Resources. Called to participate are a number of energy economists, TC Energy, and a number of obligatory climate activists. The panel mistook TC Energy for an oil producer, NDP/climate activists hurled insults at the oil and gas sector, and economists debated the effectiveness of current policies. government policy without mentioning the fact that those policies were nothing more than rearranging the deck of the Titanic Many Chairs.
The world is running out of fuel. Nor will the world reach net zero by 2050 (mineral shortages alone warrant it), but the West’s wealth of cheap energy allows us to pretend that all This will magically happen while igniting our energy suppliers to the ground (though let’s not exaggerate, encouraging capital outflows is all we need to know).
The West is comfortably wrapped up in our amazingly competent energy system – one that can afford to meet such ethically high emissions plans – that it pays less attention to the much larger problems being produced elsewhere.
Western governments have even created a new kind of polarization, because we don’t seem to have enough. European governments, pioneers in the imperative of a rapid energy transition, have now discovered that the fork in the road was indeed a mistake. Europe is in a blind panic to secure an adequate energy supply, and in an humiliation sure to go down in history is to continue buying energy products from a monster that currently destroy neighbors with shells because Europe has no choice but to trade with a madman. Western Europe has consciously and purposefully turned its back on hydrocarbons, and as a direct result, Ukraine is still being bombed indefinitely, inhumanly.
North American leaders have been protected from global energy turmoil due to the fact that current leaders have not been able to strangle the industry as quickly as they would like. Sure, they’re trying; Biden immediately began pressuring industry in the US by canceling new oil/gas leases on federal lands (a move recently reversed when the European panic became apparent), and Trudeau has been and is committed to shrinking the industry.
In another week’s climate plan, the federal government speak: “Sending a clear regulatory signal now will discourage further investment in potentially trapped assets.” That statement is a direct reference to “fossil fuel” investment, a stunning statement of uncanny stupidity – if the energy transition happens as the government hopes, will the property Is oil/gas the only asset stuck? How about the airport? How can they even know what will be ‘stuck’? How do they discourage investing in things that may or may not be necessary?
Now, from a global perspective, that’s what we should be worried about in the interconnected energy world, over a few billion people might not care at all if Canada chooses to set itself on fire. But no, we can’t leave them alone, can we? The West knows best, and while we may be sober about racism and anything else, the underlying urge to dictate to developing countries what is allowed or will be disallowed remains a mainstay of elite Western thought.
“Heed the UN’s dire warning and stop the pipeline in East Africa now,” bleed a headline in a British newspaper by a New England climate activist (Bill McKibben) who founded the anti-oil organization 350.org and proudly handcuffed while fighting the Keystone XL.
Let’s take a quick tour of another form of polarization that has evolved from energy dialogues. In North America and Western Europe, we continue to raise fuel prices and harass consumers into reducing consumption with crude, ethical grounds – governments simply disregard the fuel system. ours. They want hydrocarbon producers to gradually reduce and eventually phase out, and as soon as possible.
This is the view from the other side of the world that, in a few titles, reflects the polar opposite of our Western story – a desperation for survival. “India at risk of widespread blackout this summer”, because of low coal reserves and no availability of natural gas. “Electricity shortage is up to 6000MW”; Pakistan is can’t generate enough electricity because it can’t compete with Western Europe in the natural gas bidding wars. “Despite its oil and gas reserves, Africa remains under pressure from rising energy costs”; Africa is heavily dependent on imported petroleum products and fear that a shortage of natural gas will affect fertilizer supply.
India, Pakistan and Africa have populations of 2.8 billion and they are running out of fuel. Running out of fuel means running out of air conditioning, food and vehicles. It’s serious business. And with a few billion more in that camp, I simply stopped collecting headlines after a few minutes.
Fortunately, the “advice” of Western activists is being ignored. Africa is currently Dangote oil refinery construction in Nigeria, owned by an African, would supply more than 12% of Africa’s product needs, increase fertilizer production at a linked facility and reduce the continent’s dependence on imported fuels.
Asian governments are currently under construction New natural gas infrastructure worth $350 billion. That’s in addition to replenishing renewables as quickly as possible.
The problem is that these investments won’t come soon enough. The world is currently short of hydrocarbons and the world’s leading experts in oil/gas production are largely leaving the industry or focusing on the “energy transition”. Fuel shortages are expected in many parts of the world this year.
Against the backdrop of that potential humanitarian disaster, the guidance of our Western leaders should make anyone’s stomach ache. And it’s not like our hydrocarbon sector is even going against the federalists – they are uncompromisingly focused on reducing emissions and meeting government mandates, no matter what. However, the Standing Committee on Natural Resources has been quietly listening to the strategies put forward by activists to engage oil and gas people. exit industry, don’t drag people into it. No words.
We’re all sitting here watching a train with billions of people on it heading for a bridge that’s gone. Our leaders are grinning in snaps with trillions of dollars’ worth of beneficiaries that they’re plowing into misguided and hasty plans toward a mining industry target. basically considered impossible.
Nassim Taleb has a great analogy of long-term complacency, where everything is great until one day it’s gone. A turkey has a comfortable (if restricted) life for every day of its life until the last day, when things really go horribly wrong. Consider these endless energy observatories exactly the same. Tragically we were warned that the ax was coming.
Slava Ukraine! Find out how the world fell into such a disastrous energy state, and how to get out – catch the “Fossil Fuel Madness” at Amazon.ca, Indigo.caor Amazon.com. Thanks for the support.
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Read more insightful analysis from Terry Etam this, or email Terry this. PS: Dear email reporters, the email process is welcome, but I’m having tracking issues. Apologies if comments/questions go unanswered; they are not ignored.
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