Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: longz who wrote (1503730)	11/22/2024 1:13:51 PM
From: Wharf Rat	2 Recommendations Recommended By rdkflorida2 Tenchusatsu Read Replies (1) \| Respond to of 1574483

Drill Baby Drill, Meet Reality – This is Not Cool (thinc.blog) Don’t assume that any change in government can boost hydrocarbon production beyond what technology and economics allow. Yahoo Finance: President-elect Donald Trump routinely led supporters in chants of ‘drill, baby, drill’ on the campaign trail, promising to free U.S. energy from political and regulatory shackles holding back the industry. But wildcatting legend Harold Hamm, executive chairman of Continental Resources and a major Trump donor, says the U.S. faces legitimate challenges to expanding production growth, even under a second Trump presidency. “People think that we’re going to raise [production] 3 [MMbbl/d] to 4 [MMbbl/d],” Hamm said in an interview with Hart Energy. “But in my opinion, from a geologist’s perspective, you’re not going to see that.” A more realistic trajectory would be raising U.S. output between 1 MMbbl/d to 2 MMbbl/d over the next five to six years, driven almost entirely by gains from the Permian Basin, Hamm said. Hamm does argue that D.C. regulation stymies the day-to-day business of the oil and gas industry. He wants to see a laundry list of changes when Republicans retake the White House and Congress in January. But even a fully unleashed U.S. energy sector would struggle to overcome output declines from maturing shale fields, he said. Continental is active across the Lower 48 today, with holdings in the Permian, Bakken, Anadarko and Powder River basins. “You look at the Bakken, it looks pretty flat,” Hamm said. “Maybe flat to down.” Washington Post: The United States’ track record on reducing greenhouse gas emissions was unexpectedly encouraging during Mr. Trump’s first term, through no particular effort on his part. Despite his promises to promote fossil fuels, emissions barely budged during Mr. Trump’s first three years in office, before they tanked during the coronavirus pandemic. Renewable power on the electricity grid grew 49 percent during his administration. The share of fossil fuels in electricity generation fell from 65 percent in 2016 to 60 percent in 2020. Mr. Trump’s calls to “drill, baby, drill” might sound unseemly, given the urgency to end the use of fossil fuels. But this is not where the battle for the climate will be won or lost. Oil production surged during the Biden administration. Still, U.S. greenhouse-gas emissions declined over the past two years — fueled by a surge in production of renewable energy. And that will probably continue. The subsidies for renewables in the Inflation Reduction Act and the bipartisan infrastructure law, which encouraged vast new investment in clean power production, remain in place, and there is a plausible case they will persist. Much of the money has gone to Republican-controlled states where wind and solar resources are abundant and building infrastructure faces fewer regulatory hurdles. Their governors and members of Congress will undoubtedly push to keep the federal assistance flowing. Heatmap: Lobbyist Scott Segal, who represents a number of energy companies and other firms affected by the Inflation Reduction Act in his capacity as a leader of the government relations team at Bracewell, told me in an email that “the value proposition for a balanced energy portfolio contains many elements already of great concern to Republican leaders.” “Significant capital has already been deployed based on clean energy incentives,” he said. “To change these incentives in midstream would create business uncertainty — in effect, it would increase taxes on these projects. Outcomes like this run counter to long-standing Republican principles.” The industry is already starting to get the hang of the lingo. Advanced Energy United, a clean energy trade group, was early congratulating Donald Trump on his election victory. “When we talk to Republican lawmakers,” the group’s managing director, Harrison Godfrey, told me, the message is, “let’s not fundamentally change course. Investment decisions take years. We build industries with certainty.” As several lobbyists and strategists I spoke to pointed out, the Inflation Reduction Act did not invent clean energy tax credits, and this won’t be the first battle to preserve them. Tax incentives for non-carbon-emitting “alternative” energy have been a part of the policy landscape since the late 1970s. Wind energy and biofuels have won especially ardent support from some very powerful Republicans, namely those in the Corn Belt, and particularly Iowa Senator Chuck Grassley, who has for decades fought for extending the production tax credit for wind.