Oil & Gas Group
This group brings together those who are interested in topics around oil and gas exploration, drilling, refining, and processing.
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There are 2 "E"s in Pipeline
Over the past decade Conventional and Renewable Energy staked positions across the aisle in business just as Republicans and Democrats have squared off in Washington DC. From subsidies to fracking and New Green Deal vs Energy Dominance, rarely could both energy sectors get on the same page. But in the past 12 months there has been a thaw (insert your own climate joke here) in the natural gas pipeline space.
Williams Companies and Energy Transfer have both announced initiatives integrating solar PV into their energy supply mix. Williams announced they will combine the electrification of their compressor fleet with solar energy installations within their field operations . Energy Transfer has also embraced solar through a 15 year power purchase agreement with solar developer Recurrent Energy.
While the majors pursue Big Ticket environmental projects like offshore wind and carbon sequestration to bolter the "E" and "S" in their Environmental-Social-Governance (ESG) scores these two midstream organizations have committed to lessening their climate footprint and growing local jobs via solar. I think the time has come for more collaboration like this to deliver a greener barrel and cubic foot. We possess the innovation and capabilities to make the "Energy Transition" good for platers in both conventional and renewable energy production.
PS: Solar PV provides great backup post storm, see Hurricane Sandy
Discussions
David, do we really know the "rest of the story" about wind?
Warren Buffett, as he did with so many other investments, saw the writing on the wall when he told a group of investors in 2014:
"I will do anything that is basically covered by the law to reduce Berkshire's tax rate," Buffet told an audience in Omaha, Nebraska recently. "For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit."
After $billions of dollars in investment wind now provides a whopping 7.3% of U.S. electricity, barely making a dent in U.S. CO2 emissions. And with the Investment Tax Credit ending in 2022, now might be a good time to get out of the market.
Looks like an investor would have been right to scoff in the 1990s - and even more so, now (wind, below, is shown by the brown line creeping along the x-axis).
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