The International Energy Agency assessment is below. Is Maine's Legislature Mentally Deficient as it relates to Energy Supply and Renewable Emphasis?
IMHO, Yes Indeed
US shale's full impact still hasn't hit oil markets, IEA director says
- The International Energy Agency's executive director says the effect of U.S. shale on the world's energy industry will be felt for years to come.
- "While the other two giants voluntarily cut output, the U.S. — already the biggest liquids supplier — will reinforce its leadership as the world's number one crude producer," the IEA said in its monthly report.
Shale oil's impact will have "huge implications" for global energy markets for many years, Fatih Birol, executive director at the International Energy Agency, told CNBC on Tuesday.
Oil prices have been trading sharply lower amid growing concerns that an economic slowdown in China could temper demand. And even as some producers cut their output, prices have been put under further pressure by a growing supply from the United States.
"(If) anybody thinks we have seen the full impact of the shale revolution in the United States, then he or she is making a big mistake," Birol told CNBC's Steve Sedgwick at the World Economic Forum in Davos , Switzerland.
"We will see huge implications of shale, both for oil and gas, for many years to come."
OPEC and its production allies have officially implemented a fresh round of supply cuts, which will see 1.2 million barrels per day removed from the market from the start of January.
Birol said that despite those cuts, prices in 2019 should face renewed pressure with Permian Basin output in western Texas and southeastern New Mexico set to ramp up.
"A huge amount of pipeline capacity is coming in the Permian, 66 percent growth compared to previous years, so the U.S. oil industry's ability to react to the market is much faster and bolder now," he said.
Birol said unless there was a large geopolitical event, it would be very difficult to see prices nearing $90 per barrel — as the Brent crude benchmark did in October.
The Paris-based IEA said last week that the United States is on track to reaffirm its position as the world's biggest producer of crude by volume during 2019.
"While the other two giants voluntarily cut output, the U.S. — already the biggest liquids supplier — will reinforce its leadership as the world's number one crude producer," the IEA said in its monthly report Friday.
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Comment
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Comment by Willem Post on January 23, 2019 at 7:46am
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And it is
Domestic
Low cost, c/kWh
Clean burning, no particulates
With 60% efficient, combined cycle gas turbine plants, at least hree times less CO2/ kWh compared to coal and wood burning
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
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Hannah Pingree on the Maine expedited wind law
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
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