Birchcliff Energy Ltd T.BIR

UNCLE

[Oldnagger]

US nat gas producers say uncle and will now reduce drilling

https://boereport.com/2024/02/15/us-natgas-drillers-cut-spending-reduce-activity-amid-price-crash/

[kavern23]

These companies waited too long should have been cutbacks last July on ng drilling. This is a real mess ng is in and no easy solution. A lot of how ugly is unknown as it will depend on how much wind in blow this spring for renewable power production. This can deplace lots of ng power demanddependsspring is generally more wind and summer not so much. The amount of renewable energy installations is

[Oldnagger]

Compared to a year ago , Nat gas consumption is up by 3.0 % for US power burn and wind is down by 3.6 % https://docs.google.com/spreadsheets/d/e/2PACX-1vTbxUmwjGcfEjsMsGw-RWhnHokq9_vpTEO9oG_kuLGDwBF27Un8zEH9IoRT-z6gTehaHnBLTA1VIxFg/pubchart?oid=1905215466&format=image

[kavern23]

It is the forward looking numbers that are the problem: USA is adding 62.8 GW of electricity capacity for all of 2024 and only 2.5 GW is NG...simple cycle small NG plants to run maybe a hour a day. 50.7 GW of the 62.8 GW of new capacity is solar and batter storage. This is not a good trend for natural gas. If USA didnt have hottest summer like ever temp wise creating lots of AC demand in 2023

[Oldnagger]

  Perhaps the US government should take a deeper look at their  plans for battery storage Spontaneous combustion can be a serious hazard , particularly for large scake facilities , since the huge number of batteries will only increase the probability of conflagrations https://stockhouse.com/companies/bullboard/t.su/suncor-energy-inc?postid=35887012

[Oldnagger]

Another not insignificant problem with increasing renewable power is the disposal of Solar Panels once their useable life is over. Lead and Cadmium oh my !!  Where are the environmentalists when you really need them ?  https://oilprice.com/Alternative-Energy/Solar-Energy/Solar-Panel-Waste-is-Becoming-a-Big-Problem.html