Thank you for these comments as well! And yes, I do know Chris Wright and as you will have gathered am quite excited about his expected role in the next administration. He needs some good people that can help him navigate a sprawling US government!!!
Liberty Energy has investment in micronuclear, geothermal, and energy storage companies. They are a great example of a fairly large balance sheet energy company investing in new technologies.
Since September, you are probably familiar with Chris Wright, Liberty Energy, and their Bettering Human Lives foundation. All three fit your worldview. In fact, so much Southampton iPhone that you are in line for a senior position in the new DOE. He could use you! I don't think that there are many people as aligned with his vision as you are.
Arjun, I don't understand how obtaining the "Net Zero" dream, even if possible, would change anything. It can be shown that the lower CO2 levels seen in the first half of the 20th century did not moderate extreme climate events, quite the contrary. Andy May has a very convincing presentation on his blog that shows that in the past, higher high-latitude temperatures have been correlated to reduced weather driven events. This is in accordance with theory. During COVID, even the shutdown of economies did not significantly moderate CO2. The war on fossil fuels in nonsensical, and energy independence through accelerated production of fossil fuels is the goal we should achieve.
Critical Thinker, net zero dreams could indeed well be very, very, very far into the future. I'd still say that it will be geopolitical security and reliability that will motivate the ongoing evaluation of new energy technologies. Just don't know when they will be commercialized.
Dear Arjun, on the recommendation of Nick Murray, I watched the documentary “Juice: How Electricity Explains The World”. Substitute the word “energy” for “electricity”. Either way, I think that you will find the 80 minutes valuable.
I made bogey from the front bunker there. Late one evening, caddie allowed to play 18 from champ tees (only ones on course). Wanted to see if we could beat Vandevelde. Wicked wind behind us…35, gusts to 45. Hit Driver/9 iron intentionally in to that bunker. Anything that hit green would have been off the back 90ft from pin in trouble.
I’m with you on Scotland. The planet’s coolest style, nothing like parkland golf.
Arjun, most shale development occurs on private or state land. In some states, like New Mexico, federal Bureau of Land Management (BLM) land is important.
DOE certainly spent money on the “shale revolution” but mostly with the biggest companies who were late to the dance. The rest of us simply succeeded by trial and error… more error than success early on, but eventually we cracked the code.
Lab research is really only effective when you have adequate input parameters for your modeling. When it came to shale, that simply didn’t exist because it had never been exploited before. It took rolling up the sleeves and spending/destroying a lot of capital to figure it out.
Fortunately, much can be learned from those lessons and apply it globally. Vaca Muerta we’re looking at you!
Re: the climate narrative turning. After the lockdowns lifted here in the Great White North, I went to the first post-COVID in-person annual meeting of a venture firm. It was good to see people in person again after two years, most people had put on a few pounds and everyone was in an upbeat mood now that we were on the other side of COVID. I was in a small group talking and one of the senior people in the firm came up and we all quieted down to listen: the person announced that the firm was making a major investment in a particular carbon capture technology because if climate change was not addressed by 2050 "the world will end". The person was quite serious about this, "the world will end". This person seemed knowledgeable, reasonable and experienced, not someone who would say things lightly. Other people in the group started agreeing. I was thinking to myself: "This has to be peak insanity, people are now seriously discussing the end of the world". That narrative was so pervasive at the time that on the drive home afterwards in the dark night even I started to second-guess myself: 'Maybe I'm wrong? Maybe the world really is going to end in 2050? After all we just had a global pandemic and nobody saw that coming. What should I do?' It was a very surreal drive home.
I would suggest a small improvement in precision, Arjun. Private land ownership is relevant to the rise of shale oil, among other extracted resources. But what really matters is private ownership of mineral rights.
Arg, sorry for the typos from my phone's spell check.
I meant,
"In fact, so much so that I hope that you are in line"
Thank you for these comments as well! And yes, I do know Chris Wright and as you will have gathered am quite excited about his expected role in the next administration. He needs some good people that can help him navigate a sprawling US government!!!
Liberty Energy has investment in micronuclear, geothermal, and energy storage companies. They are a great example of a fairly large balance sheet energy company investing in new technologies.
Hi Arjun,
Since September, you are probably familiar with Chris Wright, Liberty Energy, and their Bettering Human Lives foundation. All three fit your worldview. In fact, so much Southampton iPhone that you are in line for a senior position in the new DOE. He could use you! I don't think that there are many people as aligned with his vision as you are.
Arjun, I don't understand how obtaining the "Net Zero" dream, even if possible, would change anything. It can be shown that the lower CO2 levels seen in the first half of the 20th century did not moderate extreme climate events, quite the contrary. Andy May has a very convincing presentation on his blog that shows that in the past, higher high-latitude temperatures have been correlated to reduced weather driven events. This is in accordance with theory. During COVID, even the shutdown of economies did not significantly moderate CO2. The war on fossil fuels in nonsensical, and energy independence through accelerated production of fossil fuels is the goal we should achieve.
Critical Thinker, net zero dreams could indeed well be very, very, very far into the future. I'd still say that it will be geopolitical security and reliability that will motivate the ongoing evaluation of new energy technologies. Just don't know when they will be commercialized.
Dear Arjun, on the recommendation of Nick Murray, I watched the documentary “Juice: How Electricity Explains The World”. Substitute the word “energy” for “electricity”. Either way, I think that you will find the 80 minutes valuable.
Thank you Martin. Yes I am a big Robert Bryce fan. it's a great documentary.
I made bogey from the front bunker there. Late one evening, caddie allowed to play 18 from champ tees (only ones on course). Wanted to see if we could beat Vandevelde. Wicked wind behind us…35, gusts to 45. Hit Driver/9 iron intentionally in to that bunker. Anything that hit green would have been off the back 90ft from pin in trouble.
I’m with you on Scotland. The planet’s coolest style, nothing like parkland golf.
that is great...playing Champs tees on 18. Love links golf.
Shale oil development occurred outside the purview of the Federal Government and the Feds deserve virtually no credit for it.
Arjun, most shale development occurs on private or state land. In some states, like New Mexico, federal Bureau of Land Management (BLM) land is important.
appreciate your sharing your views.
As always, a well articulated and thoughtful piece. Thank you Arjun!
Thank you!
DOE certainly spent money on the “shale revolution” but mostly with the biggest companies who were late to the dance. The rest of us simply succeeded by trial and error… more error than success early on, but eventually we cracked the code.
Lab research is really only effective when you have adequate input parameters for your modeling. When it came to shale, that simply didn’t exist because it had never been exploited before. It took rolling up the sleeves and spending/destroying a lot of capital to figure it out.
Fortunately, much can be learned from those lessons and apply it globally. Vaca Muerta we’re looking at you!
Thank you NTX for the comment
Re: the climate narrative turning. After the lockdowns lifted here in the Great White North, I went to the first post-COVID in-person annual meeting of a venture firm. It was good to see people in person again after two years, most people had put on a few pounds and everyone was in an upbeat mood now that we were on the other side of COVID. I was in a small group talking and one of the senior people in the firm came up and we all quieted down to listen: the person announced that the firm was making a major investment in a particular carbon capture technology because if climate change was not addressed by 2050 "the world will end". The person was quite serious about this, "the world will end". This person seemed knowledgeable, reasonable and experienced, not someone who would say things lightly. Other people in the group started agreeing. I was thinking to myself: "This has to be peak insanity, people are now seriously discussing the end of the world". That narrative was so pervasive at the time that on the drive home afterwards in the dark night even I started to second-guess myself: 'Maybe I'm wrong? Maybe the world really is going to end in 2050? After all we just had a global pandemic and nobody saw that coming. What should I do?' It was a very surreal drive home.
Appreciate your sharing Investor
I would suggest a small improvement in precision, Arjun. Private land ownership is relevant to the rise of shale oil, among other extracted resources. But what really matters is private ownership of mineral rights.
100% Paul!