Most of the U.S. (and I suspect a good number outside the U.S.) paused yesterday at some point to gaze at the spectacle that is the inauguration of an American president. To many, it held a great deal of promise. Just as important,as based on great promises. In this, Obama is not unlike any other American president. The penchant to over promise appears to be a prerequisite to run for political office in the U.S. While President Obama's promises on energy are notable, they are wholly unrealistic. Whilst he may begin the programs that will eventually wean the nation from dependence on fossil fuels, he will be of advanced age, and long out of office, before any such programs come to full fruition. Unfortunately, both he and his fellow politicians - Democratic and Republican - have left the American populace with the belief that a solution to the nation's dependence of fossil fuel will be swift and sure. In this respect, at least, there are going to be great numbers of disappointed citizens. But, then again, it is the citizenry at large that choses to divorce itself from reality and embrace the illogical.
Recommended Reading
Mexico Pacific Signs Long-term SPA with Korea’s POSCO International
2024-08-29 - Mexico Pacific and Korea’s POSCO International Corp. signed a 20-year sales and purchase agreement for the Asian company to acquire 0.7 mtpa of LNG from the proposed the Saguaro Energía LNG facility on Mexico’s Pacific Coast.
Texas is Sued Over Anti-ESG Law
2024-08-29 - A nonprofit organization is suing Texas over a 2021 law it says violates members’ free speech rights by banning Texas from investing in or contracting with businesses that, in the state's view, "boycott" the oil and gas industry.
Belcher: How a Trump Win Could Alter Energy Transition Incentives
2024-08-29 - Some producers are starting to wonder if some of the tax incentives, grants and loans offered under the Inflation Reduction Act and Infrastructure Investment and Jobs Act, would be rolled back under a Trump administration.
Equinor May Reconsider Investing in UK Oil Sector if Taxes Rise
2024-08-28 - Equinor's head of international operations said it may not be as attractive to invest in the British oil and gas sector if taxation of oil companies changes.
CFTC Fines TotalEnergies Trading $48MM for Attempted Market Manipulation
2024-08-28 - The Commodity Futures Trading Commission found that the company in March 2018 flooded the market for physical EBOB benchmark gasoline at cut-rate prices while maintaining a large short-position betting that EBOB futures would fall in value.