Electric cars will wipe out oil demand equal to Iran’s output by 2025, Barclays says
Due to the growing demand for electric vehicles (sales rose 40% last year), oil consumption could drastically decrease over the next 20 years. Various markets have proposed banning or curbing vehicles that burn fossil fuels and more are considering the same. Barclays analysts project that by 2025, 3.5 million barrels a day of oil demand could be wiped out. To compare, Iran is the 3rd largest OPEC producer and pumps a total 3.8 million barrels a day. The projections only increase as time goes on. However, there are still hesitations to electric vehicles especially with consistently low gasoline prices encouraging larger vehicle purchases.
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Another Nebraska family installs solar panels in path of Keystone XL pipeline
The Keystone XL oil pipeline path would be from Canada through several states, threatening the health and businesses of many Americans. Landowners have been fighting the proposal, some by installing solar panels in the path of the pipeline. This resistance to the expansion of fossil fuel usage shows the need to focus on creating more renewable energy systems. They continue to urge the commissioners to deny this project a permit.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Indiana, Michigan, and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
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States Are Using Social Cost of Carbon in Energy Decisions, Despite Trump’s Views
What would you pay to have a beach to go to, fish on the shore, or not have to move your manufacturing plant inland due to flooding?
Such questions are being asked today by corporations and States in considering the price of Carbon and other greenhouse gases. Yes, these social factors can be quantified into $/kWh, some as high as $43/ton of carbon. Put simply, the social cost of carbon is a dollar estimate of the future damages from droughts, sea level rise, heat waves and other climate impacts wrought by each ton of carbon dioxide released into the atmosphere.
Consider how one utility regulator explained the cost imposed on his utility due to social costs;
“We know that climate change makes our [power] generation fleet less efficient. We know that it causes wildfires and other natural disasters that affect our transmission and distribution system. We know that there are actual costs to utility customers that come from not acting to prevent catastrophic climate change.”
The federal Government recently relaxed the social cost provisions due to the “impact to the economy and jobs”. Such federal shortsightedness is not new but, passing the pollution onto future generations in the hopes of retaining current jobs seems like a false promise for such a huge impact on future generations.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Indiana, Michigan, and Ohio. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
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Senate appropriators advance $38.4 billion energy spending bill
The Energy and Water Development Appropriations Act was approved to support investments with infrastructure, research, and security. The $38.4 billion budget for the bill is above the President’s request and delegates the bulk of spending towards the Energy Department. Some disagreement on details include amendments to boost spending on solar and wind energy. Programs that encourage the U.S.’s energy independence are prioritized within an amendment that supports nuclear. Sen. Graham believes without supporting nuclear, the U.S. will not become the low carbon, green economy we want to be. When the bill comes up for a final vote on the floor, we expect to see a push to boost renewable energy.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
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Exxon Mobil Lends Its Support to a Carbon Tax Proposal
Fossil fuels contain carbon that is released into the atmosphere as carbon dioxide (C02) (and carbon monoxide (CO) if combustion is not complete). Exxon Mobil sells fossil fuels. C02 is a major contributor to global climate change as a greenhouse gas.
SO WHY WOULD EXXON MOBIL SUPPORT A CARBON TAX PROPOSAL?
Two possible answers:
- They realize global warming is happening and that fossil fuels contribute.
- By supporting the idea or proposal, NOT an actual bill or tax, they can win the publicity battle.
Exxon Mobil is defending themselves in multiple courts regarding liability for past emissions. This statement undoubtedly helps their case.
IF a carbon tax is ever enacted, the law would undoubtedly protect companies from lawsuits for prior emissions.
Realgy Energy Services is a registered Retail Energy Marketer in the states of Illinois, Michigan and Indiana. We offer Service Plans that will provide electric and natural gas at wholesale pricing direct to customers without any utility markup. Our Service Plans work with the local utility to provide seamless service and annual energy savings. Service Plans include Guaranteed SavingsTM, ManagedPriceTM, ManagedGreenTM Index, Fixed and PriceAssuranceTM.
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https://www.nytimes.com/2017/06/20/science/exxon-carbon-tax.html?partner=rss&emc=rss&_r=0