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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?


To: Eric who wrote (1427570)12/6/2023 12:55:20 PM
From: Broken_Clock  Read Replies (1) | Respond to of 1575354
 
Oil on a terminal path to the "dustbin of history".


America's Energy Boom: US Crude Exports Soar To Record High

by Tyler Durden

Wednesday, Dec 06, 2023 - 07:20 AM

For those who are confused why the US has spent tens of billions to keep the Ukraine-Russia war going on and on (setting aside of course money-laundering by the Biden crime family) here is your answer: as FreightWaves' Greg Miller reports, the unstated mission of the US military-industrial complex in the lead up and following the Ukraine war, was to unseat and replace Russia as the largest source of European energy, both crude and nat gas, and in the process push US crude exports to record highs, driven by a surge in European exports.

Indeed, as diplomats convene at the United Nations’ COP 28 climate change summit, fossil fuel production and consumption are hitting new highs, and tanker owners are in prime position to profit from rising trade flows.

The Biden administration is a leading proponent of decarbonization, yet the U.S. is pumping out record volumes of hydrocarbons. America is on track to be the world’s largest producer and exporter of natural gas this year, as well as the leading exporter of refined products and liquefied petroleum gas.

There are also big wins — for energy producers and shipowners, not decarbonization advocates — on the crude oil front.

The U.S. produced 13.2 million barrels per day (b/d) of crude oil in September, according to data released Thursday by the Energy Information Administration. That is the country’s highest monthly production level ever.

And not only is America producing more crude, it is exporting a larger share of the crude it produces, further boosting volumes aboard tankers bound for Europe and Asia.

Seaborne crude exports up 19% vs. 2022Exports of U.S. crude were banned between 1975 and 2015. For 40 years, U.S. production could only be sold overseas if it was refined first, then exported as petroleum products.

The end of the ban dramatically increased market opportunities for U.S. production, thereby stimulating higher output — creating more business for oil companies and tanker owners.

That upward momentum continues. Seaborne crude exports are tracked by commodity intelligence provider Kpler. In January-November, its data shows that U.S. seaborne crude exports averaged 4 million b/d, an all-time high and up 19% year on year.

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Exports in November averaged 4.45 million b/d, the second-highest monthly average on record, just slightly below the peak of 4.46 million bpd in March.

Volumes rise sharply to both Europe and AsiaThe Panama Canal is wreaking havoc on many cargo supply chains, but it has virtually no effect on U.S. crude exports.

U.S. crude exports to Asia are loaded on very large crude carriers (VLCCs; tankers that carry 2 million barrels) via ship-to-ship transfers in the U.S. Gulf. VLCCs are too large to transit either the Panama or Suez canals; they use the Cape of Good Hope.

U.S. exports to Europe are shipped aboard Aframaxes (750,000-barrel capacity), Suezmaxes (1 million-barrel capacity) and VLCCs.

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Since the invasion of Ukraine, Europe has hiked its purchases of U.S. crude to help offset banned Russian supply. According to Kpler data, an average of 1.83 million b/d of U.S. crude flowed to Europe in January-November, up 26% from the 2022 full-year average.

Europe’s share of total U.S. crude exports has risen to 46% this year compared to 37% in 2021, the year prior to the invasion, while Asia’s share is 41%, down from 47% in 2021.

“In volumetric terms, the story has been all about Europe this year,” Reid I’Anson, senior commodity analyst at Kpler, told FreightWaves. “Europe continues to grow increasingly reliant on U.S. energy — not just LNG [liquefied natural gas] but across the board.”

Despite the pull of Europe, U.S. crude exports to Asia have also continued to escalate. According to Kpler data, exports to Asia are averaging a record-high 1.65 million b/d year to date, up 15% from last year and up 26% from 2021.

Rising volumes to Asia translate into profitable business for VLCC owners. Brokerage True North Chartering counted 40 spot VLCC cargoes loading in the U.S. Gulf in both October and November, matching the prior monthly high in April.



To: Eric who wrote (1427570)12/6/2023 12:57:57 PM
From: Broken_Clock  Read Replies (1) | Respond to of 1575354
 
Zero Public EV Chargers Built Since Congress Approved $7.5 Billion To Expand Network

by Tyler Durden

Wednesday, Dec 06, 2023 - 02:20 AM

Authored by Tom Ozimek via The Epoch Times (emphasis ours),

President Joe Biden's 2021 infrastructure bill boasts a $7.5 billion investment in electric vehicle (EV) chargers, and his administration insists the country is "on track" to install over a million public chargers by the end of the decade—but reports indicate that so far not a single one has actually been built.

[url=]Electrical vehicle chargers in Irvine, Calif., on July 12, 2023. (John Fredricks/The Epoch Times)[/url]A key part of the Biden administration's push to reach net-zero emissions by 2050 is to sharply expand the nation's charging infrastructure for plug-in EVs in order to align with President Biden's goal of having half of all new vehicles sold in the United States to be electric by 2030.

At the forefront of this effort is the federal government's commitment to pour in $7.5 billion as part of the Infrastructure Investment and Jobs Act (also known as the Bipartisan Infrastructure Law) to build 1.2 million public chargers to keep up with what the White House said over the summer was rapidly growing demand for EVs.

The $7.5 billion federal funding plan for EV chargers consists of the $5 billion National Electric Vehicle Infrastructure (NEVI) program and the $2.5 billion Charging and Fueling Infrastructure Discretionary Grant Program, both of which are being administered through agencies affiliated with the Department of Transportation (DOT).

However, despite more than $2 billion of the $7.5 billion in federal EV charger funding already authorized under the programs, not even half of states have started to take bids from contractors for construction—and not a single new public charger has been built.

“Already, seven states have issued conditional awards for new NEVI stations amounting to $101.5 million, two states have agreements in place, and 17 states are soliciting proposals for new stations,” the Joint Office of Energy and Transportation, which is leading the Biden administration's EV charger efforts, said in an update at the end of October.

An initial wave of 26 states are leading the effort to build out the public EV charger network, with Ohio being the first to break a public EV charger construction project funded by the NEVI program.

The Epoch Times has reached out to the Federal Highway Administration (FHWA), which is administering the $5 billion NEVI program, with a request for more up-to-date information about the status of the various federally-funded EV charger projects.

Many Republicans have been lukewarm on the idea of federal funding for EV infrastructure, with former President Donald Trump voicing staunch opposition to EV subsidies, arguing that the government should step aside and let market forces decide what vehicles people drive.

'On Track'?
While EV sales in the United Sates hit a record 313,086 in the third quarter of 2023, many carmakers are sounding the alarm, saying that demand isn't keeping up with expectations, forcing them to scale back some EV expansion plans.

Studies show that a key factor hampering widespread EV adoption is so-called "range anxiety," which is the fear among drivers that their EV will run out of power and grind to a halt on the side of the road with no charger in sight.

In order to alleviate drivers' range anxiety and support growing EV demand, a recent study from the National Renewable Energy Laboratory (NREL) estimated that the size of the national charging network needs to grow from roughly 3.1 million ports in 2022 to 28 million by 2030, with the vast majority being private chargers.

Currently, there are 182,892 public chargers in the country, according to the Energy Department, with the NREL study estimating that this figure needs to rise to a total of 1.2 million by 2030 to support roughly 33 million light-duty plug-in EVs.

Including the $7.5 billion in taxpayer dollars from the infrastructure bill, the total cumulative investment in publicly accessible charging infrastructure through 2030 is estimated to require an investment of between $31-$55 billion.

When including the private network, that cumulative national investment estimate increases to $53-$127 billion, with 52 percent of the cost being private chargers, 39 percent being public DC fast chargers, and 9 percent public L2 chargers, per the NREL study.

Over the summer, the White House said in a fact sheet that the Biden administration is "on track" to install a network of 1.2 million public chargers by 2030.

Gabe Klein, executive director of the Joint Office of Energy and Transportation, told Politico in a recent interview that it may be slow going for now—but that will change.

“You have to go slow to go fast,” Mr. Klein told the outlet. “These are things that take a little bit of time, but boy, when you’re done, it’s going to completely change the game.”

“I’m probably more excited now … than I’ve been anytime since I took this job because everybody’s paddling in the right direction—purple state, blue state, red state,” Mr. Klein added.

Everybody’s seeing the impact of the investments,” he insisted.

Meanwhile, Secretary of Transportation Pete Buttigieg, who has been a key figure helping President Biden push EVs onto a reluctant public, recently acknowledged that there weren't enough chargers to satisfy demand—and that some existing ones don't work.

His admission came as the federal agency he helms announced $100 million in funding for repairing and replacing exsting EV charging stations.



To: Eric who wrote (1427570)12/6/2023 12:58:54 PM
From: Broken_Clock  Respond to of 1575354
 
Global Emissions Are Set for Another Record This Year By Charles Kennedy - Dec 05, 2023, 1:30 AM CST

Global emissions from the combustion of hydrocarbons such as oil and gas are set for another record this year, the Global Carbon Budget report has warned.

“Fossil CO2 emissions are falling in some regions, including Europe and the USA, but rising overall – and the scientists say global action to cut fossil fuels is not happening fast enough to prevent dangerous climate change,” the report’s authors said.

Released during the COP28 conference, the report said that global emissions will reach 36.8 billion tons this year, which would be a 1.1% increase in 2022, the report’s authors said. The report is produced by a group of scientific institutions led by the University of Exeter.


These are the emissions generated directly from the combustion of hydrocarbons. When emissions from land use are added, the total rises to 40.9 billion tons of carbon dioxide. This total has plateaued, the authors of the report said, due to a decline in land use emissions from activities including deforestation.

Emissions from oil, gas, and coal, however, are on the rise, driven by the leading economies of the developing world. China’s emissions were on the rise after it reopened its economy following pandemic lockdowns, the report said. India, on the other hand, saw its emissions rise because demand for energy was rising faster than India was adding low-carbon energy sources to its grid, the authors also said.

"It now looks inevitable we will overshoot the 1.5C target of the Paris Agreement," Pierre Friedlingstein, lead author of the report and Chair of Mathematical Modelling of the Climate System at the University of Exeter, said.

"Leaders meeting at COP28 will have to agree rapid cuts in fossil fuel emissions even to keep the 2C target alive," Friedlingstein added in comments included in the press release detailing the findings of the report.

COP28 has a special focus on hydrocarbons but few believe this would lead to any meaningful agreement for phasing these out.





By Charles Kennedy for Oilprice.com



To: Eric who wrote (1427570)12/6/2023 1:05:38 PM
From: Broken_Clock  Read Replies (1) | Respond to of 1575354
 
Same problem in the US. Soviet style left wing incompetence.

Europe’s EV Boom Faces Grid Challenges By Tsvetana Paraskova - Dec 05, 2023, 5:00 PM CST
  • Last week, the European Commission proposed an action plan to make sure “electricity grids will operate more efficiently and will be rolled out further and faster.”
  • Range anxiety has been one of the hurdles to a faster adoption of electric vehicles.
  • Toyota Europe’s chief operating officer Matt Harrison has recently said that Europe still needs work to do in charging infrastructure to reach the tipping point for significantly boosting the share of EVs.
Burdensome permitting processes and the need for extra grid connections and power capacity are slowing down the installation of EV charging stations across Europe, threatening the EU’s ambition to rely on transport electrification as a pillar of its net-zero target.

The EU adopted early this year legislation to make all new cars and vans registered in Europe zero-emission from 2035. The European Commission has also just proposed an action plan for grid investments across the bloc, aiming to upgrade grids, strengthen energy infrastructure, and allow faster access for renewables to the grids.

Despite the EU ambitions and the EU-wide legislation, local-level regulations and requirements to have a charging point hooked up to the grid sometimes takes years, and the delays have become longer in recent years, energy companies and industry associations tell Reuters.

“Although the work of installing a fast and ultra-fast charging point requires only two to three weeks of work, due to different administrative requirements in Spain, the complete process ... can last from one to two years,” Spanish energy firm Repsol told Reuters.




The red tape in Germany, Europe’s largest car market, is similarly burdensome, industry sources say.

EU Plan to Upgrade Electricity Grids

Last week, the European Commission proposed an Action Plan to make sure “electricity grids will operate more efficiently and will be rolled out further and faster.”

A total of 40% of EU distribution grids are more than 40 years old. Cross-border transmission capacity is set to double by 2030, and this will need $633 billion (584 billion euros) in investments, the Commission said. Related: European Commission To Delay EV Tariffs By Years

“Networks will have to accommodate a more digitalised, decentralised and flexible system with millions of rooftop solar panels, heat pumps and local energy communities sharing their resources, more offshore renewables coming online, more electric vehicles to charge, and growing hydrogen production needs,” the EC added.

Kadri Simson, the European Commissioner for Energy, said “Grids need to be an enabler, not a bottleneck in the clean energy transition. That way we can integrate the vast amounts of renewables, electric vehicles, heat pumps and electrolysers that are needed to decarbonise our economy.”

In response to the plan, renewable industry associations called for urgent actions.

“Serious action is needed asap to tackle the huge and growing queues of renewables that are waiting for a grid connection. The system operators in Europe need help here. Some of them have connection queues of hundreds of GW of wind and solar projects,” the WindEurope association said.

Rules for More Charging Stations

This summer, the European Parliament successfully negotiated that electric charging pools for cars with a minimum 400 kW output will have to be deployed at least every 60 kilometers (37 miles) along core TEN-T network routes by 2026, with the network’s power output increasing to 600 kW by 2028. For trucks and buses, charging stations have to be provided every 120 km (75 miles). These stations should be installed on half of main EU roads by 2028 and with a 1400kW to 2800 kW power output depending on the road. EU countries will also have to ensure that hydrogen refueling stations along the core TEN-T network will be deployed at least every 200 km (124 miles) by 2031.

Range anxiety has been one of the hurdles to a faster adoption of electric vehicles.

The EU now has the plans, but it’s up to individual member states to accelerate permitting, including for construction and access of charging stations to the grid.

“The time needed for connecting the EV recharging points to the grid can indeed be seen as a barrier to accelerate the uptake of EVs and needs to be tackled,” a spokesperson for the European Commission told Reuters in an email.

Municipalities are slow with permitting, while grid operators and power distributors don’t have uniform requirements for charging stations, which could delay the rollout, industry managers say.

“There is a clear need for more standardization,” Stefan van Dobschuetz, vice president of BP Pulse Europe, told Reuters.

BP Pulse, the EV charging business of BP, has an ambition to have more than 100,000 chargers installed worldwide by 2030 focused on ultra-fast charging.

ChargeUP, the industry association, has been calling for standardization and fast deployment of charging infrastructure across Europe.





The largest bottleneck charge point operators (CPOs) face across Europe today “is the amount of time it takes to establish a grid connection point, the complexity of the process to get one, and access to sufficient grid capacity,” the association says.

More than 20 CPOs across Europe have signed an open letter to propose five criteria benchmarking permitting processes that would harmonize and standardize the process of getting a grid connection in Europe.

Toyota Europe’s chief operating officer Matt Harrison has recently said that Europe still needs work to do in charging infrastructure to reach the tipping point for significantly boosting the share of EVs.

“The enablers are not really fully there yet, so I’m not surprised we’re having a bit of a wobble,” Harrison told Bloomberg in an interview this week.

“There are a lot of fundamentals that still need to be fixed before we start to move.”

By Tsvetana Paraskova for Oilprice.com