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Energy

Energy Effect: Trump’s big win fuels talk of policy actions

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From The Center Square

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“Our long national nightmare with the Green New Deal is finally over because energy was on the ballot in 2024, and energy won”

Former President Donald Trump is on track to potentially receive 300 electoral votes or more. He won the national popular vote by about 5 million with votes still being counted. As a result, some analysts and Republicans say Trump and the GOP have a “mandate” to aggressively push forward with their agenda.

“America has given us an unprecedented and powerful mandate,” Trump said in his speech early Wednesday morning, creating a refrain echoed by his supporters.

As of midday Wednesday, Trump secured 292 electoral votes after Michigan and its 15 votes were called – 270 were needed to win the race. He also leads Vice President Kamala Harris in Alaska, Arizona and Nevada.

If Trump holds in those states, he will have 312 electoral votes, propelled in large part due to a level of support from Black voters and Hispanic voters unusual for a Republican.

“The American people have sent a clear message through President Trump’s resounding victory,” U.S. Sen. Thom Thillis, R-N.C., wrote on X. “The mandate is clear: fix the economy, secure the border, keep America safe, and confirm more judges who follow the Constitution.”

At the same time Wednesday, House Republicans had won 198 House racers and Democrats had won 177 with the rest uncalled; 218 are needed to win a majority. In the Senate, Republicans won 52 seats and Democrats won 42 with six still to be called, flipping the upper chamber to GOP control.

“This is a mandate,” Scott Jennings, an alum of the George W. Bush administration and CNN analyst said on the air as results came in early Wednesday morning.

“He won the national popular vote for the first time for a Republican since 2004,” Jennings said. “This is a big deal. This isn’t backing into the office. This is a mandate to do what you said you were going to do. Get the economy working again for regular, working class Americans. Fix immigration. Try to get crime under control. Try to reduce the chaos in the world. This is a mandate from the American people to do that.”

On economic policy, Trump is expected to double down on domestic oil drilling to increase revenue for the U.S. and lower energy costs for Americans. Trump made inflation a focus of his campaign, pledging to use domestic oil to get costs down for Americans and even pay off debt with the tax revenue.

“Our long national nightmare with the Green New Deal is finally over because energy was on the ballot in 2024, and energy won,” said Daniel Turner, founder and executive director of energy worker advocacy group Power The Future. “On day one, Joe Biden and Kamala Harris fired thousands of Keystone XL workers and thankfully starting in January it’s this administration that will be unemployed.”

Republicans have also vowed tax reform, something they prioritized after Trump came into office last time around. Experts said the market reacted favorably to Trump’s win.

“Trump’s election victory sparked a rally in the greenback last night as growth and inflation expectations rerated higher,” Adam Turnquist, chief technical strategist for LPL Financial in Charlotte, North Carolina, said in a statement. “Fed funds futures dialed back rate cut expectations from five to four 0.25% cuts by the end of next year. Yields surged higher, a move further exacerbated by deficit spending concerns, especially if Republicans secure the House.”

Trump also pledged to quickly negotiate an end the wars in Ukraine and Gaza, something that earned him bipartisan support from many Americans, including Arab and Muslim Americans frustrated by the Biden-Harris handling of the Israel-Hamas war.

Pop culture figure and Barstool Sports founder Dave Portnoy told his 3.3 million followers the win was a “ringing endorsement of Republicans” and “an indictment against the Democrats,” using a familiar message analysts across platforms online and on television.

That perception will be key for Republicans who likely have two years to push through a legislative agenda as reports indicate they will have a majority in the Senate and possibly the House.

Polls showed only 28% of Americans felt the country was headed in the right direction, something incumbent Harris could not overcome.

“I wanted Trump to win, but more than that, I wanted a decisive victory,” Newsweek Opinion Editor Batya Ungar-Sargon wrote on X. “If it’s true he’s won the popular vote, that is a mandate to lead. Calling Trump Hitler is now proven to be what it always was: an unforgivable smear of the majority of Americans. It’s time to embrace unity.”

While Harris delayed in recognizing Trump as the winner, still not conceding as of early Wednesday afternoon, his other fiercest opponents, like former U.S. Rep. Liz Cheney, recognized him on X but offered a warning.

“Our nation’s democratic system functioned last night and we have a new President-elect,” said Cheney, a Republican who campaigned with Democrat Harris on the trail. “All Americans are bound, whether we like the outcome or not, to accept the results of our elections. We now have a special responsibility, as citizens of the greatest nation on earth, to do everything we can to support and defend our Constitution, preserve the rule of law, and ensure that our institutions hold over these coming four years.”

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Daily Caller

‘Landman’ Airs A Rare And Stirring Defense Of The U.S. Oil-And-Gas Industry

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Actor Billy Bob Thornton portraying the character Tommy Norris in an official trailer for the Paramount Plus series “Landman.” (Screen Capture/Landman, Official Trailer, Paramount+)

 

From the Daily Caller News Foundation

By David Blackmon

Oil companies have always presented easy targets for demonization by the news and entertainment industries. Their operations are highly visible — the flares from a shale well can be seen from many miles distant — the prices they charge for their products can strain family budgets, and they have generally done a lousy job of engaging with the media and defending themselves.

Thus, they typically present the proverbial low-hanging fruit to be exploited by lazy script writers in Hollywood. Those who were in the industry in the early years of the Obama presidency will well remember that pretty much every TV drama series aired at least one episode centered on some highly improbable, often impossible, scenario in which people were killed by a hydraulic fracturing — or “fracking” — accident. Such stuff never happened in real life, but it sure made for compelling entertainment for audiences who did not know that to be the case.

Given this history, it came as no small surprise when the lead character in the new Paramount series “Landman”, the newest offering from “Yellowstone” creator Taylor Sheridan, delivered a stirring 2-minute monologue in defense of America’s oil and gas producers in Episode 3 of the show’s first season. Set in the aftermath of a tragic, fatal Permian Basin oilfield accident that actually could happen in real life, the scene features lead character Tommy Norris, played to near perfection by Billy Bob Thornton, schooling a young, environmentally conscious lawyer who is looking for someone to blame for the accident on the reasons why oil and gas are highly unlikely to be replaced by wind energy in her lifetime.

“You have any idea how much diesel they have to burn to mix that much concrete or make that steel and hold this **** out here and put it together with a 450-foot crane,” Norris says, pointing to a nearby group of 400 ft. wind turbines. “You want to guess how much oil it takes to lubricate that ****ing thing or winterize it? In its 20-year lifespan it won’t offset the carbon footprint of making it. And don’t get me started on solar panels and the lithium in your Tesla battery.”

The monologue goes on for another minute and a half, with Norris detailing all the myriad products made with oil and natural gas, and the fact that, “if Exxon thought them ****ing things right there were the future, they’d be putting them all over the ***damn place.” He isn’t wrong about that last part, by the way. ExxonMobil and its fellow major oil companies like Shell and BP have proven themselves to be pretty much agnostic about the nature of the energy-related projects they’re willing to pursue in recent years.

Those companies and many other traditional oil companies are willing to invest in most any project they believe to be profitable, sustainable and able to deliver strong rates of return to investors. Where wind energy is concerned, both Shell and BP spent years investing heavily in such projects but have been backing away from such investments over the last year as they have failed to produce adequate returns. ExxonMobil, meanwhile, is investing heavily in carbon capture, hydrogen, and even lithium production as part of a growing portfolio of projects in its Low Carbon Solutions business unit.

Back to the Tommy Norris monologue: When I re-posted the clip on LinkedIn and at my Substack newsletter, it went viral, indicating a high level of interest in what Thornton’s character had to say. That may be indicative of a rising recognition of the reality that the US government and global community have in recent years thrown away trillions of dollars in failing attempts to subsidize non-viable, unsustainable, and unprofitable alternatives to oil and natural gas to scale.

Perhaps, then, it is no coincidence that Episode 3 of “Landman” aired on the same day when the media widely reported the COP29 climate conference in Azerbaijan had ended in failure. It also came amid continuing reports that the Trump transition team is developing detailed plans to refocus US energy policy back to Trump’s promised “drill, baby, drill” orientation.

The times are a-changing, and guys like Tommy Norris will look like prophets soon.

David Blackmon is an energy writer and consultant based in Texas. He spent 40 years in the oil and gas business, where he specialized in public policy and communications.

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Energy

Solar’s Dirty Secret: Expensive and Unfit for the Grid

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From the Frontier Centre for Public Policy

By Ian Madsen

To store twelve hours worth of the 1.6 TW total installed global solar power capacity would cost about 12.9 trillion Canadian dollars

Solar energy’s promise of a green, abundant future is captivating—but beneath the shiny panels lies a story of unreliability, hidden costs, and grid instability.

Green enthusiasts endorse solar energy to reduce carbon dioxide (CO2) emissions from traditional energy sources such as coal, oil, and natural gas. The source of solar power, the sun, is free, abundant, and always available somewhere. However, these claims are misleading. Solar energy is costly and unreliable in ways its proponents commonly disguise. If adopted extensively, solar energy will generally make energy and electric power grids more unreliable and expensive.

The solar industry has burgeoned remarkably, with an estimated average compound annual growth rate (CAGR) of about 39 percent from 2021 to 2024. Earlier this century, the growth rate was even faster. As a result, global installed solar capacity has reached 1.6 terawatts (TW), according to the U.S. Energy Department. This capacity is theoretically sufficient to power a billion homes at 1.5 kilowatts per home. However, the term “theoretically” poses a significant challenge. Solar power, without affordable energy storage solutions, is only available during daylight hours.

The minimum amount of storage required to make global solar power truly “dispatchable”—i.e., independent of other backup energy sources—would be twelve hours of storage. Options include batteries, pumped hydro, compressed air, or other technologies. Since batteries are today’s standard method, the following calculation estimates the cost of the minimum amount of battery storage to ensure reliable solar power.

Twelve hours per day multiplied by 1.6 terawatts and dividing the result by one kilowatt-hour (kWh), we arrive at a final requirement of 19.2 billion kWh of storage. According to a meta-study by the National Renewable Energy Lab, the utility-grade cost of battery storage is C$670.99 per kWh.

To store twelve hours worth of the 1.6 TW total installed global solar power capacity would cost about 12.9 trillion Canadian dollars; a safer twenty-four hours’ storage would be double that. Total storage available in 2023 was, the International Energy Agency notes, approximately two hundred and sixty gigawatts (GW) of power – a tiny fraction of power production of 3.2 million GW in 2022, using figures from Statista.

No firms or governments can have the necessary storage to make solar viable even if the entire globe was involved, as the total global GDP was about C$148 trillion in 2023, according to World Bank figures. That is not solar’s only problem. The most harmful effect is how it undermines power grids. The misleading, ‘levelized’ near-zero cost undercuts traditional, reliable on-demand energy sources such as coal, natural gas and nuclear power.

Importantly, high solar and wind power output can make prices turn negative, as an Institute for Energy Research article noted, but can swiftly revert to high prices when winds calm or the sun sets, as the fixed costs of traditional power plants are spread over lower production.  Baseload traditional energy sources are essential because the frequent unavailability of renewables can be dangerous. Consequently, overall costs for customers are higher when renewables are included in the energy mix. Solar mandates in California made its power supply wildly erratic.

Without affordable energy storage, solar is a seductive illusion; its unchecked adoption risks turning power grids into unreliable, costly experiments at the expense of energy stability.

Ian Madsen is the Senior Policy Analyst at the Frontier Centre for Public Policy.

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