Oil exploration teams (BP) taking a big hit.

[wemay]

BP's oil exploration team swept aside in climate revolution

Nothing escapes the winds of change now sweeping through BP, not even the exploration team that for more than a century powered its profits by discovering billions of barrels of oil.

www.reuters.com

 

[Snagglefoot]

This is good. Less competition for Exxon Mobil who are kicking butt in Guyana.
Exxon’s strategy is to get back in line with the price of oil, and try preserve the dividend. They firmly believe the flight from hydrocarbons will not work and reality will come back. If anyone wants to kick this posting forward 10 years from now, please do.

 

[wemay]

I believe everyone is doing some level of cuts. IIRC, ExxonMobil is cutting 14k jobs. Not certain what percentage (if any) is in Exploration.

 

[Zee09]

Just look at energy stocks

 

[SZR48207]

It's alright. They'll just have to learn to become computer programmers.

 

[Trav]

Ironically FC and Tesla may be the only US car companies left standing when gas hit $5-6 a gallon.

 

[Propflux01]

It'll go to $5.00 gal, not much more. Economy can't take it, especially now.

 

[Passport1]

Let's see, no more jet fuel for aviation. Maybe put solar panels on the wings? How will commercial shipping power huge cargo carriers? Maybe add a few sails and make them wind powered just like the real olden days?

Nobody is thinking this through.

 

[wemay]

Let's see, no more jet fuel for aviation. Maybe put solar panels on the wings? How will commercial shipping power huge cargo carriers? Maybe add a few sails and make them wind powered just like the real olden days?

Nobody is thinking this through.

Looks like they're trying...

Three Electric Aircraft Developers Make Program Milestones to End 2020 - Avionics International

While Uber Elevate’s acquisition by Joby Aviation and Joby’s subsequent military airworthiness approval dominated aviation industry and mainstream technology headlines last week, three other companies developing electric and hybrid-electric aircraft–Ampaire, […]

www.aviationtoday.com

 

[4WD]

Let's see, no more jet fuel for aviation. Maybe put solar panels on the wings? How will commercial shipping power huge cargo carriers? Maybe add a few sails and make them wind powered just like the real olden days?

Nobody is thinking this through.

Wait … can’t an airplane use solar to take off and then the wind turbines take over

 

[SeaJay]

Read an article recently discussing the future impact of moving away from fossil fuels to alternatives such as wind, solar including needed battery storage when supply of electricity varies. The economic impacts, as well as the sheer number of jobs lost is tremendous, and not well thought out by all parties pushing for these changes. Also noted was the amount of fossil fuels that are involved with some of the equipment (windmilll parts, batteries, etc.) needed to produce alternative fuels.

Even if these impacts were wildly overstated by that article, the true economic and unemployment impacts will be majorly significant.

 

[Snagglefoot]

Although I cheer for the UK and Europe for their alternate energy efforts, I keep looking at the graph of world energy supply. We have to, its not like we live in the no-peeing section of the world swimming pool. Hydrocarbons will not be displaced by a significant amount for great many years. China and India's inability to get off coal will slow everything down. Sure you can move the coal plants away upwind of Beijing but it still pretty futile.

 

[Imp4]

The number of buggy whip salesmen posting here is, unfortunately, not all that surprising.
And the well worn tropes about not being able to replace all petroleum consumption have followed on their coat tails.

It is important to keep in mind that the petroleum and coal based economy is quickly becoming obsolete. As it turns out, it's happening much faster than nearly anyone realized or even thought possible.

Now, that doesn't mean that 100% of coal/petroleum based energy production is going electric. That would be silly to think so. There will always be a carbon based segment of the economy, it will just keep getting smaller and smaller.

The irony of it all is that the change is cost based instead of pollution based. We're not doing this as a benevolent act for our kids amd grandkids. We're doing it because it is cheap.

For years and years the traditionalists have touted the advantages of cheap coal and oil based electricity. Now we have reached the tipping point where renewables are the best economic choice and they will continue to be a better economic value going forward.

With that in mind, I am very much looking forward to all of those that stated that renewable weren't a good choice because of the economics to now tout the value of cheap renewable resources.

Cheers!!!

 

[4WD]

Although I cheer for the UK and Europe for their alternate energy efforts, I keep looking at the graph of world energy supply. We have to, its not like we live in the no-peeing section of the world swimming pool. Hydrocarbons will not be displaced by a significant amount for great many years. China and India's inability to get off coal will slow everything down. Sure you can move the coal plants away upwind of Beijing but it still pretty futile.

View attachment 42652

 

[kstanf150]

Let's see, no more jet fuel for aviation. Maybe put solar panels on the wings? How will commercial shipping power huge cargo carriers? Maybe add a few sails and make them wind powered just like the real olden days?

Nobody is thinking this through.

When I was teenager
They were saying we’d all be in space ship looking vehicles of some sort and gas and oil would be all gone by now
I don’t see much changing anytime soon
EV’s will become more of thing in large city’s, possibly
But rural America ? Don’t think so

 

[ripcord]

Over the last 30 years governments have pushed hard for the development of alternate energy. Thirty years ago fossil fuels accounted for 80% of energy consumption. Today, after billions spent, fossil fuels account for 80% of energy consumption.

 

[gfh77665]

It is important to keep in mind that the petroleum and coal based economy is quickly becoming obsolete. As it turns out, it's happening much faster than nearly anyone realized or even thought possible.

When will all plastics (like all the PPE the medical folks use) be made out of solar energy? Clothing? Auto parts? Electronics?
Heck, when will the solar panels themselves be made out of solar energy?

Cheers!!!

 

[SeaJay]

It is important to keep in mind that the petroleum and coal based economy is quickly becoming obsolete.

IIRC, the percentage of global energy not produced by fossil fuels a year or two ago was in the order of 2%.

What sort of year over year growth in the percentage of fuels other than fossil are you expecting, and what is the resulting time frame before we can say that fossil fuels are so low as to be described as obsolete?

 

[OVERKILL]

When will all plastics (like all the PPE the medical folks use) be made out of solar energy? Clothing? Auto parts? Electronics?
Heck, when will the solar panels themselves be made out of solar energy?

Cheers!!!

Better question is when will solar energy be made out of solar energy I've yet to see a solar powered blast furnace, mining truck, dozer, excavator...etc. Nor will the panels get shipped across from China on PV-powered freighters.

 

[ripcord]

The number of buggy whip salesmen posting here is, unfortunately, not all that surprising.
And the well worn tropes about not being able to replace all petroleum consumption have followed on their coat tails.

It is important to keep in mind that the petroleum and coal based economy is quickly becoming obsolete. As it turns out, it's happening much faster than nearly anyone realized or even thought possible.

Now, that doesn't mean that 100% of coal/petroleum based energy production is going electric. That would be silly to think so. There will always be a carbon based segment of the economy, it will just keep getting smaller and smaller.

The irony of it all is that the change is cost based instead of pollution based. We're not doing this as a benevolent act for our kids amd grandkids. We're doing it because it is cheap.

For years and years the traditionalists have touted the advantages of cheap coal and oil based electricity. Now we have reached the tipping point where renewables are the best economic choice and they will continue to be a better economic value going forward.

With that in mind, I am very much looking forward to all of those that stated that renewable weren't a good choice because of the economics to now tout the value of cheap renewable resources.

Cheers!!!

The idea that renewables are replacing or can replace fossil fuels is pure fantasy. The idea that renewables are cheaper is even more ludicrous. It is not. Growth in renewable production has been entirely the result of government subsidy and direct payment, not market driven forces. What's more, a whopping zero percent of fossil fuel consumption has been replaced by renewables because the rate in growth of energy consumption has outstripped all the newly developed renewable energy capacity.

The green energy movement is based on wishful thinking. We just can't get there with current technology without nuclear power.