Greetings from the Great White North. I thoroughly enjoyed listening to your latest videdpodcast. I share your enthusiasm that the tide maybe turning in the net-zero/ESG debate (at least in the corridors of power in the US). Unfortunately, up here, the current Canadian Government seems determined to double down on net-zero with their recent proposal for a regulated cap on Canadian oil & gas emissions (and by extension poduction) which would be an absolute disaster for the Canadian economy with no meaningful benefit to the global environment. Many of us are patiently waiting for the political tide to shift so that Canada can play an even greater role in supplying the world with affordable, reliable and abundant energy.
A repurpose of the IRA to support ALL energy development would actually be an inflation reducing legislation. I’ve not seen a Congress willing to put in such sensible collaborative work in close to two decades.
I'd say one important example of sensible bipartisan energy legislation was the 2014 (ish) compromise to allow US oil exports in exchange for extending solar ITC. Massively deflationary for the world via the surge in US shale oil supply.
I feel the biggest question is around IRA. I suspect it may not be a good time to be developing offshore wind projects in NY, but battery plants in Republican territory can probably breathe easy.
Russia did not cut off oil/gas to the EU. The US blew up Nord Stream 2. Nord stream 1 still functions but Germany has it closed. This may now be opened due to the political changes coming in Germany. Russia still ships Natty through Ukraine, only one line.
You are the best Arjun!
Ray! so great to hear from you. Hope all is well. and thank you
Arjun,
Greetings from the Great White North. I thoroughly enjoyed listening to your latest videdpodcast. I share your enthusiasm that the tide maybe turning in the net-zero/ESG debate (at least in the corridors of power in the US). Unfortunately, up here, the current Canadian Government seems determined to double down on net-zero with their recent proposal for a regulated cap on Canadian oil & gas emissions (and by extension poduction) which would be an absolute disaster for the Canadian economy with no meaningful benefit to the global environment. Many of us are patiently waiting for the political tide to shift so that Canada can play an even greater role in supplying the world with affordable, reliable and abundant energy.
Regards
One of the privileged billion.
Thank you Andrew, and I for one am hopeful that the political tide will turn north of the border as well!
A repurpose of the IRA to support ALL energy development would actually be an inflation reducing legislation. I’ve not seen a Congress willing to put in such sensible collaborative work in close to two decades.
I'd say one important example of sensible bipartisan energy legislation was the 2014 (ish) compromise to allow US oil exports in exchange for extending solar ITC. Massively deflationary for the world via the surge in US shale oil supply.
Good example, but it’s a different Congress these days. I hope they’ll find a way to work together.
I feel the biggest question is around IRA. I suspect it may not be a good time to be developing offshore wind projects in NY, but battery plants in Republican territory can probably breathe easy.
100% Ed. I'd be pretty surprised if IRA gets repealed. and agree there is nuance on what goes forward and what doesn't.
Great analysis as usual and I appreciate you staying mostly politically neutral. Let’s go LNG and $ABXXF!
thank you! I was trying my hardest to either stay neutral or it at least explain when I wasn't.
I was with you until you mentioned the Yankees. Unsubscribed! 😜 Just kidding.
I figured talking about a crushing Yankees loss was the way to go! :)
Russia did not cut off oil/gas to the EU. The US blew up Nord Stream 2. Nord stream 1 still functions but Germany has it closed. This may now be opened due to the political changes coming in Germany. Russia still ships Natty through Ukraine, only one line.