Power Surge 13.5

Volume 13 Issue 5
March 21, 2022 – March 27, 2022
Riti Bhandarkar ‘23 | Zihan Lin ‘23 | Sunay Joshi ‘24 | Andrew Ji ‘25 | Wilder Crosier ‘25 | Freddy Hernandez ‘25 | Michael Tsai ‘25

Ukraine War Could Severely Hurt Global Growth and Oil Demand, OPEC Says

March 15, 2022 | The Wall Street Journal | Will Horner

In its monthly report, OPEC held off on making predictions on the oil market. It listed price increases, inflation, and supply chain challenges as reasons to avoid making a prediction. It also indicated a possible reduction in demand if the war continues. Russia is the third largest oil producer in the world. It exports half of its 10 million barrel crude oil production every day. Sanctions from Western governments on oil, as well as other commodities like nickel, will also disrupt markets.- SJ

Exxon Mobil loses appeal to stop climate change probes

March 15, 2022 | Reuters | Jonathan Stempel & Nate Raymond

A federal appeals court rejected Exxon Mobil’s attempt to block New York and Massachusetts from probing into whether or not the company lied about what they knew about its impacts on climate change to the public and investors on Tuesday. The ruling reasoned that Exxon could not sue Massachusetts AG Maura Healey because it was carrying out the same case in Massachusetts state courts. This is the latest development in a string of cases pursued by Exxon Mobil. It first sued New York and Massachusetts in 2016 after receiving subpoenas for documents concerning the company’s knowledge of climate change, which was dismissed in 2018. -AJ

Irish organizations back EU’s 2030 biomethane target

Mar 15, 2022 | Bioenergy Insight

The Renewable Gas Forum Ireland sponsors the EU commission to increase the contribution of biomethane to 20% of gas imports by 2030. The commission says it is part of an effort to inspire member states to transition to a new generation of renewable energy. Two organizations have been centerpieces to this initiative: Teagasc Grange, a biomethane production and regenerative agriculture research center, and Ibec, “the largest lobby and business representative group” on reducing energy costs and promoting energy security. While the goal may seem small, policy makers believe a seamless transition will be boon to promoting energy security in the long run. - MT

The Largest remaining tall-grass prairie in Texas is getting solar panels. Environmentalists can’t stop it.

March 8th, 2022 | The Washington Post | Mary Beth Gahan  

Dallas-Fort Worth, an expanding metroplex, is in need of clean energy. With the chance that a solar panel facility can provide such service, environmentalists have an urge to protect Texas’ large, open space: The Simley-Woodfin Native Prairie Grassland. Author of “Prairie Time,” Matt White is against historic, natural land used for profit, labeling it as a “tone deaf” attitude. This discussion begs the question of renewable energy usage vs the protection of natural resources & habitats. Experts say that although both methods mean well, balance is absent between the two. Ostred, the energy company in charge of developing solar panels for the Texas prairie, said in a statement that they value biodiversity and nature, promising that they’ll seek advice from environmentalists to prevent major harm to the habitat. Although environmentalists and renewable energy companies both cannot find an agreement, various guides are available for the ideals of the parties to be met. -FH

Sun Cable’s giant Northern Territory solar project gets $210m funding boost

March 13, 2022 | Guardian Energy | Peter Hannam

Derived from Guardian Energy. Photo Credit: Roslan Rahman/AFP/Getty Images

A project aiming at producing 24/7 dispatchable electricity from solar power recently received a $250 million investment. Sun Cable, the company behind the project, has been successfully growing the pool of investments for the $30 billion project. The proposed 17-GW solar plant is set to power Darwin, Indonesia, and Singapore. Australia has been exporting fossil fuels for decades. Cannon-Brookes, one of the investors, believes that the project will contribute to Australia’s ability to export renewables in the future. For Australia, transitioning into a sustainable and less carbon-intensive economy will require critical assessments of risks to attract investors. - ZL

Power Surge 13.4

Volume 13 Issue 4
February 28, 2022 – March 6, 2022
Zihan Lin ‘23 | Andrew Ji ‘25 | Wilder Crosier ‘25 | Sunay Joshi ‘24 | Riti Bhandarkar ‘23

Australia spending billions on new gas pipelines that may end up worthless stranded assets

February 22, 2022 | Royce Kurmelovs | Guardian Energy

Decarbonizing by 2050 has become a popular target in combating climate change amongst many countries. In Australia, however, the goal has become blurry as the government invests $18.6 billion (USD) on gas pipelines. The completion of this large scale project is expected to take decades, going in direct contradiction to the global push for fossil fuel divestment. When the technologically matured renewable energy network replaces scarce fossil fuels in the future, the pipelines will be rendered worthless if they are to transport natural gas.  -ZL

U.S. Offshore Wind Power Auction Nets Record $4.37 Billion

February 25, 2022 | Jennifer Hiller | The Wall Street Journal

A recent auction for offshore wind parcels in the Atlantic ended with bids totalling a record $4.37 billion. A number of companies purchased land in the auction, including a partnership between Shell and EDF Renewables. The bidding lasted 64 rounds. The White House is touting the deals as evidence of progress towards a carbon-free future. The Biden administration is aiming for offshore wind to generate 30 gigawatts of energy by 2030, even though prior to the deal, only two offshore wind farms were operating in the US. -SJ

California’s Green-Energy Subsidies Spur a Gold Rush in Cow Manure

February 19, 2022 | Phred Dvorak | The Wall Street Journal

In California, energy companies like BP, Clean Energy, and Chevron have started to invest heavily in cow poop. Thanks to the Golden State’s incentives around renewable energy production, companies are greatly boosting their profits by producing biofuel from cow manure. Due to this “manure gold rush,” as it has been dubbed, California farmers are seeing a very large interest in their cows’ manure, and heated fights between energy corporations. While part of the allure of dairy renewable energy comes from California’s lack of tax on methane emissions from livestock, the changes are nonetheless good for the environment. These shifts in the energy sector demonstrate the power that legislature around tax-benefits and subsidies can have to change the harmful impacts corporations have on the planet. -WC

EU to urgently link electricity grid with Ukraine's

February 28, 2022 | Kate Abnett | Reuters

As the invasion of Ukraine by Russia unfolds, concerns around the EU’s power supply are rising. Russia has historically been the top provider of natural gas to EU member nations. After Ukraine disconnected its own power grid from Russia’s last week, it has asked for immediate emergency connections to the European system, a move that EU officials say will take weeks. According to the EU energy commissioner Kadri Simson said after Monday’s meeting that “There was a broad agreement around the table. Based on this, we will move forward… to connect Ukraine’s electricity system as soon as possible.” Beyond providing electricity to Ukraine, the Commission also proposes to require governments to fill gas supplies to last through winters, as well as measures to expand renewable energy sources faster, in accordance with EU goals to reduce gas consumption by 25% by 2030. -AJ