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Biden gives Chevron permit to restart Venezuelan oil saleshttps://www.politico.com/news/2022/11/26/biden-chevron-permit-venezuelan-oil-sales-00070836

Chevron can resume key role in Venezuela's oil output, exportshttps://www.reuters.com/business/energy/us-issues-expanded-license-allow-chevron-import-venezuelan-petroleum-2022-11-26/- this might add barrels to the market, but if might not because it might just shift oil from the black market to the legal market and not actually add barrels- Chevron isn't likely to restart production in a significant way because the license only goes for 6 months and significant investment and infrastructure repair is needed.- Might help Chevron recoup some lossesRussian Oil Is Already Trading Far Below Europe’s Proposed Cap https://finance.yahoo.com/news/price-russian-oil-now-try-113456772.html- Urals trading at $51.76/barrel on Monday Mov 28

- Is there any way to do a price cap and keep Russian oil on the market?

- Poland wants $30/barrel but Greece, Malta, Cypress want a higher cap because they make a lot of money shipping Russian oil or want compensation

- What's more important to Europeans - shipping jobs or hurting Putin?

Oil prices erase 2022 gains as China's protests spark demand worries https://www.reuters.com/markets/commodities/oil-drops-more-than-1-chinas-covid-protests-fuel-demand-worries-2022-11-28/

- Protests in China: unlike Tiananmen Sq, where Chinese people don't know what happened, now there is WeChat and people can see before the gov quashes it.

- Technology does change things but is it enough to get ahead of the government? The government can just cut the internet.

-  Will the protests mean more oil demand or less oil demand? China could come out with a jobs program which would be good for demand. Could also beat the war drums about Taiwan to crush dissent. 

Column: U.S. diesel shortage starts to ease

https://www.reuters.com/business/energy/us-diesel-shortage-starts-ease-kemp-2022-11-24/

- "The increase was small but runs against the normal trend for a drawdown at this time of year and indicates high prices and a slowing economy are starting to rebuild inventories"

- Runs against what Dr. Foreman said last week about the US economy and that distillate indicators show the economy is strong

- If oil prices keep going down, will distillate follow?

Energy Companies Expect More Friends in Washington as Republicans Take Over Househttps://www.wsj.com/articles/energy-companies-expect-more-friends-in-washington-as-republicans-take-over-house-11669517278- is there anything they can do for oil? ensure no windfall tax- the issue is the regulatory state not legal issues

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Frackers Say Oil Production Slowing in the Shale Patch

https://www.wsj.com/articles/frackers-say-oil-production-slowing-in-the-shale-patch-11667743226

- problem is that frackers are drilling in gassier areas

- will likely get more production in 2023 because of rejiggering where they drill, etc.

- WSJ very different interpretation of info from what Ryan sees in Permian based on research - article will be out from Hart Energy soon

- Lots of evidence that there's plenty of profitable drilling - lots of wells break even at $40/barrel.

Beijing's biggest district urges residents to stay home as COVID cases rise

https://www.reuters.com/world/china/china-covid-cases-steady-many-beijing-businesses-schools-shut-2022-11-20/

- Is China moving away from zero-Covid or not?

- Why is Xi pushing forward? Likelihood of mass death is low, so what's going on?

- Is zero-Covid an employment scam? How do you transition people who work these jobs to elsewhere?

- Impact on the oil market about news about Covid from China. Could have moved the market.

- China has probably signaled to Aramco what it’s going to do, so they already know and aren't trading on headlines. Aramco probably knows about China's zero-covid policy more than others.

Saudi Arabia Eyes OPEC+ Output Increase Ahead of Restrictions on Russian Oil

https://www.wsj.com/articles/saudi-arabia-eyes-opec-production-increase-ahead-of-embargo-price-cap-on-russian-oil-11669040336

- WSJ reported that Saudi wants an increase of 500,000 bpd at Dec 4 meeting

- Saudi denies this

- Best indication of China's zero covid policy is what OPEC is doing

Monthly Statistical Review - Interview with chief economist from API, Dr. Dean Foreman

API | MSR: U.S. Petroleum Markets Buoyant in October, But Have Entered a Winter of Uncertainties

- stories of different parts of the economy and uneven recovery. Interest rates hurt some businesses but not others. 

- U.S. is plowing itself towards recession with rate increases.

- Consumer economy is hurting with rate increases

- Projections from EIA, fuel switching, and other data shows no recession because close to record oil demand.

- Employment picture has been strong in nation. Despite stress points and unevenness, its not a bad picture.

- Growth in industrial side of the economy.

- Is the Permian in trouble? 

- G7 price cap could be a disruption in the making. Could take 1 million bpd of crude off the market and 500,000 bpd of products off market.

- East coast is more exposed and dependent on trade with Europe because of lack of refining capacity and depends on trade with other regions and the transportation of it.

- Market logistics are more of the same of what we saw in March and April as things get rerouted. Russian crude has to go by water because it's not going to Europe. Additional market penetration to India, China, etc. Is there any market left there? With refined products - also logistical. Typically products are shipped out of refineries in Baltic and spend 3 days going to Rotterdam. But now they have to spend more time going to Asia. Shipping and insurance issues are also a logistical issue. Short term disruption during change without any political hardball being played by Putin.

- "Total U.S. exports of crude oil and refined products eclipsed a record 10.0 mb/d for a second straight month, and U.S. petroleum net exports rose to 2.1 mb/d, which was the highest for any month on record since 1947." Do you foresee this changing when the SPR releases stop? --> some of the SPR has been exported but not a lot of it. A lot of it is still getting placed domestically through pipelines and barges.

- Two months ago 10.4 million bpd of total gross exports was a record. Double digit million bpd export numbers are stunning.

- As imports have gone down, we have net exports going up.

- Hunkering down and building business to continue to supply oil domestically.

- EIA projects a backslide in exports but by year end next year it comes back.

- The US has become a stronger domestic provider of its own oil within our own value chain.

- But need more infrastructure in oil in order to have low prices at home and lots of exports

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Fossil fuel producers flex their muscle at UN climate summit

https://www.ft.com/content/a29c1204-70cf-46c1-b266-780788bfa048

- Fossil fuel companies invited to COP27 for the first time

- Are they hijacking the conference with their money?

- Definitely seem to be hijacking the headlines

- Does it mean that the climate camp is admitting that fossil fuels are still necessary and they are just trying to get them to pollute less? 

EPA to strengthen proposed rule on methane emissions from oil, gashttps://www.ogj.com/general-interest/government/article/14285643/epa-to-strengthen-proposed-rule-on-methane-emissions-from-oil-gas- the rules are written for big oil (Exxon) not little oil. Then big oil absorbs little oil- zero emissions on pneumatic pumps, more stringent regulations on flaring but won't say what those regulations are- use remote sensing to detect methane leaks

Saudi Arabia says US ties are solid as it defends oil policyhttps://www.straitstimes.com/world/middle-east/saudi-arabia-says-us-ties-are-solid-as-it-defends-oil-policy- “We have had a disagreement with regard to the oil market,” Mr Adel Al-Jubeir

- “Saudi Arabia and China have a huge interest at stake,” he said. “China is our largest trading partner. We have large investments in China and Chinese companies have large investments in Saudi Arabia.” - Saudis are making clear that US-Saudi relations might be "solid" but China is Saudis biggest trading partner.

Opec cuts oil demand growth forecast againhttps://www.argusmedia.com/en/news/2390758-opec-cuts-oil-demand-growth-forecast-again- OPEC wants to defend $80/barrel oil- But with inflation is that really more like $65/barrelChina refiners slow down Russian oil purchases as sanctions nearhttps://www.reuters.com/business/energy/china-refiners-slow-down-russian-oil-purchases-sanctions-near-trade-2022-11-14/- "There are, of course, many concerns and much confusion regarding to the upcoming price cap, but people think the December-arriving cargoes should be safe (to buy)," a China-based trader said.- Is the slowdown really related to the sanctions or not needing as much oil?- China can't afford $120 barrel oilhttps://www.enverus.com/newsroom/enverus-unearths-full-north-america-inventory-in-basin-by-basin-deep-dive/

Link to Dallas Fed Energy Conference: https://www.dallasfed.org/research/events/2022/22energy

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China’s Xi Jinping to Visit Saudi Arabia Amid Global Reshufflinghttps://www.wsj.com/articles/chinas-xi-jinping-to-visit-saudi-arabia-amid-global-reshuffling-11667818979Chinese-Saudi relationship is developing beyond oil. Not sure exactly where that will come. Perhaps tourism? It's not an attempt to push out the US from its position with Saudi Arabia. but China definitely won't criticize Saudi Arabia. Energy Sticker Shock Grabs Spotlight Before Midterms

https://www.wsj.com/articles/energy-sticker-shock-grabs-spotlight-before-midterms-11667817002

More than 50% of Americans said their number 1 concern is the price of gas and consumer foods. 25% said the cost of housing and rent is their biggest concern. Shows that Americans are REALLY concerned about the cost of the living. Will this translate into a win for Republicans in midterms? Or will Biden try to push the windfall tax on oil companies?

GAS PRICE DECLINE HALTS AS GREAT LAKES SOARS

Price of gasoline finally starting to decline, though diesel supplies remain tight in the North and Northeast.

China Weighs Zero-Covid Exit But Proceeds With Caution and Without Timeline https://www.wsj.com/articles/china-weighs-zero-covid-exit-but-proceeds-with-caution-and-without-timeline-11667826209 Is this a result of poor economic results?

What would this do to China's oil consumption?--> also read: "I spent 10 days in a secret Chinese Covid detention centre" https://www.ft.com/content/77622627-9433-445a-a763-a547b77b58ed

UAE will remain oil and gas supplier as long as there is need https://www.reuters.com/world/middle-east/uae-will-remain-oil-gas-supplier-long-there-is-need-president-2022-11-07/Never Too Early to Prepare for Next Winterhttps://www.iea.org/reports/never-too-early-to-prepare-for-next-winterIEA recommends "more rapid deployment of energy efficiency measures, renewables and heat pumps is needed to reduce the risk of a worsening energy and gas crisis." These are not policies that will help. Could suggest building more LNG regasification terminals.Ryan's Latest:

The Permian Basin Has a People Problem: https://www.yahoo.com/video/permian-basin-people-problem-043000319.html

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US backs Opec calls for more oil, gas investment https://www.argusmedia.com/en/news/2385879-us-backs-opec-calls-for-more-oil-gas-investment- The US' top energy envoy Amos Hochstein today supported calls for investment in oil and gas to increase globally alongside spending on the transition to a lower-carbon energy system.

- Say one thing in one environment (Adipec is a safe space to call for more oil and gas investment) and then another when they are speaking ot voters

- Hochstein says we need more investment in oil and gas AND clean energy because they are on "different timelines"Oil is all that Putin has left, U.S. presidential advisor Amos Hochstein sayshttps://www.cnbc.com/2022/10/31/oil-is-all-that-putin-has-left-presidential-advisor-amos-hochstein-says.html

- “Oil is the only thing they have left in that economy … Putin has destroyed the rest of the economy,” - Why don't they do everything they can to lower the price of oil because that would actually hurt Russia's economy.Natural-Gas Prices Have Plunged Into Autumn

https://www.wsj.com/articles/natural-gas-prices-have-plunged-into-autumn-11667084564

- Analysts warn that unusually cold weather could send prices soaring anew this winter, especially in the Northeast where maxed out pipelines have effectively capped output from Appalachia’s prolific producers.- Europe having an unseasonably warm autumn but that doesn't mean it won't be cold later.

Biden admin has discussed slow-rolling military aid to Saudis, including Patriot missiles, as payback for oil production cuthttps://www.nbcnews.com/politics/joe-biden/biden-admin-discussed-slow-rolling-saudi-military-aid-payback-oil-prod-rcna54505

- this is a can the politicians say they did everything they could to bring down oil prices? or is this something that would actually happen.

Special Guest John Belizaire from Soluna Computinghttps://www.solunacomputing.com/video/soluna-partners-with-texas-wind-farm-to-build-flagship-data-center-in-the-state/- want to make renewable energy a global superpower- up to 30-40% of the power generated by renewable power plants is never used because the grid can't handle it. - Solana uses that energy for computing. Find power plants that have wasted power and build specialized data centers on site to use for computing power.- Focus on computing that is resilient to loss of energy but needs a lot of energy. Focusing on blockchain and crypto-mining. Monetize quickly. They use it.- Data centers are NOT 24-7 - they want to run computing models that aren't time dependent.  - do bitcoin mining for 3 years and then convert to other uses. crypto great "bootstrapping industry"- Need distributed computing network - lift and shifting jobs to other facilities if lacking energy.- facility isn't fixed source of energy consumption. can be bigger or smaller depending on needs of grid. like lego blocks.- "green electrons power their computing" looks good on ESG reports.

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Congress eyes cutting off foreign markets from US strategic reserve oil
https://www.washingtonexaminer.com/restoring-america/courage-strength-optimism/congress-eyes-cut-off-foreign-markets-us-strategic-reserve
- this could be problematic because US refineries can't handle all the light, sweet oil in the SPR so there would be a lot of oil unpurchased if it couldn't be exported and Biden keeps releasing huge amounts of SPR.

China Oil Demand in Limbo as Virus Saps Travel Before Party Congress
https://www.bnnbloomberg.ca/china-oil-demand-in-limbo-as-virus-saps-travel-before-party-congress-1.1832275
- Will China's demand rebound or will it remain depressed to June 2023? This could impact global demand forecasts
- China not actually getting more capitalistic, business is happening through the Party
- China sees North Korea as ideal country
- Chinese economic collapse?

Biden Pitches Plan to Refill Oil Reserves, but Producers Are Skeptical
https://www.wsj.com/articles/biden-aims-to-spur-drilling-with-plan-to-refill-oil-reserves-but-producers-are-skeptical-11666467900
- Is the Biden admin betting on global recession dropping oil prices to $50 so then $67 looks good and oil producers will have hedged?
- $12 price cut is basically break even
- Producers seem to think high prices will continue, so who is going to take that deal?

Russian Military Boosts Jet Fuel Offtake for Ukraine War
https://www.energyintel.com/00000183-f6ac-dae6-a5b7-ffbe4fbb0000
- boosting Russian refineries

Dr. Dean Foreman from API
https://www.api.org/news-policy-and-issues/blog/2022/10/21/msr-petroleum-demand-reflects-economic-growth-in-september
- US is hitting records despite global chaos
- 20 million bpd of oil demand despite doom and gloom talk - good from economic and industry perspective
- remarkable recovery on natural gas side
- injection rate has caught up for storage
- extraction of NGLs has been record breaking for September
- 10.4 million bpd of gross exports of crude and refined products. Never higher for a month going back to 1947
- domestic prices aren't exorbitant
- don't have the kind of response on the oil drilling side the same way we had on the gas side
- Oil and gas production are affected equally by supply chain and labor concerns. Gas supplies are looking good but oil production is down except in Texas
- Why are prices still soft relative to where they probably should be, with inflation? Market is confused. Interest rate increases scaring off liquidity. Downdraft for oil prices along with ongoing SPR releases.
- International natural picture is still very short, even though US picture is solid. SPR releases have covered up structural shortage. IEA, OPEC, Saudi Arabia all saying investment and drilling activity not enough to meet demand next year. OPEC cut forces hand of OECD SPR releases - will they continue SPR releases? Maybe SPR releases a little greedy in advance of midterms
- Basically at price of right before Russia invasion of Ukraine. OPEC says it will defend this price.
- Roughly balanced market with SPR releases and OPEC cuts. What will happen with Dec 5.
- Distillate: the one area where the gov might ban exports to make sure we have enough. Stocks are really low on east coast - normally it imports some and gets from PADDS 2, 3 but it isn't. Symbiotic trade with Europe is disrupted. Historically low diesel reserves. Can substitute some fuels (residual heating oil, low sulfur fuel oil).
- Distillate is a hot product internationally now
- Trucking markets were really hot at the beginning of the year. Q1 was well above historical ranges. But now that prices are up, economy slowing, seeing a lot of slack capacity in trucking. DAT trend lines that track spot loads vs. trucks available. Seeing more trucks, fewer loads. Freight rates should be coming down.
- Jet travel picking up does impact this because clawing back of market share from trucking
- Soft distillate demand isn't all doom and gloom because there is some fuel switching BUT there are reasons to be concerned.
- DEI indicates that economic growth is slower and steadier not dropping off. Economy probably isn't tanking but it is moving sideways
- But when will Fed stop and take stock of how the rate increases are impacting the economy?
- Demand side looks pretty good now.
- Could a crash in the housing market have an impact on any fuel demand?
- inventories are so low that if we get an Abqaiq like event, markets will see that we don't have the cushion to deal with it and futures markets will react in a more extreme way.
- Banning exports is not the answer. We need targeted solutions to address regional problems. Targeted Jones Act waiver. Wild corner solutions aren't helpful.

Ellen's New York Times Opinion Piece: https://www.nytimes.com/2022/10/24/opinion/international-world/saudi-arabia-opec-oil-cut.html

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OPEC+ to Weigh Production Cut to Bolster Oil Prices
https://www.wsj.com/articles/opec-to-weigh-production-cut-to-bolster-oil-prices-11664734482
- oil prices are inflated due to inflation so $80/barrel oil is perhaps more like $70/barrerl oil or even $60/barrel oil.
- could this cut put prices back up to $90 or $100/barrel
- How much more can prices go up after the jump in prices as news of these talks jhave gotten out?
- What about the demand forecasts that show increased demand in 2023? Is this just a short term cut for the rest of 2022
- What if prices get too high for China?

This 100% solar community endured Hurricane Ian with no loss of power and minimal damage
https://www.cnn.com/2022/10/02/us/solar-babcock-ranch-florida-hurricane-ian-climate/index.html
- This community's survival isn't about its eco-consious solar powered design but that all of its transmission lines are underground, well built homes & an inland location

Energy crisis: Europeans 'must lower thermostats to prepare for Russia turning off gas supplies'
https://www.euronews.com/my-europe/2022/10/03/energy-crisis-europeans-must-lower-thermostats-to-prepare-for-russia-turning-off-gas-suppl
- leaks were also found on the Nord Stream 2 pipeline, which was due to come on stream this year but never did after Germany refused to certify it.

Special Guest Kunal Patel from Dallas Fed Energy Survey
https://www.dallasfed.org/research/surveys/des/2022/2203.aspx#tab-report
- 200 Oil and Gas Firms in 11th District (Texas, Louisiana, New Mexico)
- 173 responded (mostly E&P firms, also oil services firms)
- Overall goal to better understand opportunities and challenges upstream is facing
- 3rd Quarter Survey shows strong expansion in upstream. Strong pace for business activity but supply chain is worsening and costs remain very high.
- Outlooks improve, but uncertainty jumped!
- Real price of gasoline compared to 2011/2014 - price is still lower
- Age of cheap natgas in US coming to an end? 69% think that it will come to an end by 2025. That is very soon and a very high percentage of respondants. Though 16% said that prices will return back to lower. Shows what kind trend we are in.
- It's hard to predict the price of oil and natural gas
- Naming specific agencies as sources of difficulty and uncertainty.
- Very few comments on OPEC, much more on finding labor, finding equipment especially tubular steel and government regulatory uncertainty/interference.

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Private Oil Drillers Are Hitting Their Limits
https://www.wsj.com/articles/private-drillers-are-hitting-their-limits-11663579982
- "they tapped many of their best drilling spots, and will have to ease their rapid pace of drilling as their inventory shrinks"
- US oil production could decrease by "hundreds of thousands of barrels per day" - that's not very specific. Is going from 11.8 million bpd to 11.7 million bpd
- Private producers hold around one-fifth of the Permian’s most valuable acreage
- OPEC toys with the market when they don't hit their quota

EPA reverses course, rejects permit for massive oil exporting project offshore from Corpus Christi
https://www.texastribune.org/2022/09/02/texas-oil-epa-export-terminal-corpus-christi/amp/
- Supposed to rival LOOP in size
- Permit to emit more VOCs than allowable was given by Trump admin but revoked by Biden admin
- Mixed message sending is the biggest problem

IEA Lowers 2022 Oil Demand Forecast Amid China Lockdowns, Economic Growth Fears
https://finance.yahoo.com/news/iea-lowers-2022-oil-demand-050501715.html

Oil Traders Should Consider Global Demand Forecasts From IEA And OPEC
https://www.investing.com/analysis/oil-traders-should-consider-global-demand-forecasts-from-iea-and-opec-200629867

- IEA forecast is based on Chinese demand falling and then increasing
- Is this realistic?
- Real estate investors can't get their money out of China, China wants to keep Chinese money in China
- Xi to be elected President for life
- Will China attack Taiwan after this? No real indication that China is going to attack Taiwan. Is this "American propaganda?" (Noam Chomsky's argument)
- If China doesn't attack Taiwan what does that mean for oil demand?

API Monthly Statistical Report and Quarterly Outlook
- Rig activity in US is still down more than 1/5 - combo of energy policy, supply issues, labor issues
- Private equity companies are leading oil production this year
- Without completion crew we are seeing DUCs accrue in various regions
- Are we running low on acreage? NOW there are plenty of sweet spot good rocks to drill. Problem is labor and supply chain constraints. Fiscal constraints are mitigated. Capital access is an issue still.
- Lack of support for leasing on federal lands, steel tariffs cause problems, no real backing of oil and gas production from administration.
- We are sitting with the lowest SPR since 1985 but consumption is 3 or 4 times higher than in 1985.
- Problems getting high voltage lines in communities to build charging stations is a huge challenge so charging stations are putting in diesel generators in California.
- Sheer enormity of oil and gas consumption is being ignored. Can't put all the resources into something that is only 10% of global energy (renewables). Neglecting what shoulders the bulk of global energy systems is ... going to have consequences.
- Only reason we have oil prices that are lower is because we are papering over the shortage in supply by releasing SPR.
- Dichotomy between news about "fears of recession" and the economic indicators.
- All in holistic view of oil inventories - they are down. US has basically pushed intelf into a recession with the interest rate increases. Europe is now following
- China has potentially got large economic growth.
- Dollar is at all time high, making imports for American consumers less expensive. US exports are less price competitive abroad. In the past this creates a wider trade deficit. Erodes investment. Petrochemical margins have now turned negative. Not worth it to build another ethane cracker on the gulf coast, for example. Not just about the sheer productively of the rocks. Its about the entire chain. Global economy is close to 3% growth, which means need 1.5 million bpd more oil each year.
- Huge uncertainty now, especially with Russia sanctions coming online soon.
- Ultimately supply and demand will determine prices, not the speculative momentum.Rate increases and pricing in recession is causing the opposite to happen with the speculators.
- The fact that the economy is expected to actually be "historically strong"
- Savings rate is not at recessionary levels and delinquencies in American households is not historically high, only edged up a little. Rebound in consumer sentiment.
- IEA, Kingdom of Saudi Arabia and OPEC have all said that they don't see investment patterns enough to meet oil demand. EIA forecast is 101 million bpd of global oil demand in 2023. Not enough investment to meet this.
- Threat to US and global energy security

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit energyweek.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit energyweek.substack.com

In a US first, California will pilot solar-panel canopies over canals
https://electrek.co/2022/08/26/in-a-us-first-california-will-pilot-solar-panel-canopies-over-canals/
- is this idea well thought through? WHat would the impact to the water be? chemical runoff? Algae growing? Earthquakes!!?
- If all 4,000 miles of California’s canals were covered with solar panels, that could produce 13 gigawatts of renewable power. A gigawatt is enough to power 750,000 homes, so that would be enough power for 9.75 million households.
- This is in theory, not practice. Won't actually produce that much power.

California Faces Long Road to End ICE Car Sales
https://www.energyintel.com/00000182-db20-d868-a99b-dfb2ff8d0000
- The plan was approved by the California Air Resources Board on Thursday and follows an executive order issued by Gov. Gavin Newsom in 2020.
- who in the state even KNOWS who is on the California Air Resources Board?
- Will this come up for referendum in California?
- Big jump in EV purchases happened between 2020 and 2021
- How will they power all of these? generators?

Activate Nord Stream 2 ASAP, says German parliament vice president
https://www.politico.eu/article/vice-president-of-the-german-parliament-calls-for-activation-of-nord-stream-2/
- Activate Nord Stream 2 ASAP, says German parliament vice president
- response from Ukraine: "addiction to Russian gas kills"
- no sound reason not to open Nord Stream 2," because Germany is already getting gas through the older Russia-to-Germany Nord Stream pipeline. Getting "gas from Nord Stream 2 is no more immoral than from Nord Stream 1. It's just a different pipe," he said.

Europe’s carbon price hits new record as natural gas becomes scarce
https://www.worldoil.com/news/2022/8/19/europe-s-carbon-price-hits-new-record-as-natural-gas-becomes-scarce/
- Why doesn't Europe suspend the rule that forces power providers to buy carbon offsets?

Canada says hydrogen better than LNG for German needs
https://www.reuters.com/business/energy/canada-says-hydrogen-better-than-lng-german-needs-2022-08-19/
- is hydrogen a viable fuel here?
- Canada wants to build LNG terminals to send natural gas from Alberta to Germany but the natural resources minister of Canada says hydrogen would be a better bet in the long run.

Elon Musk Says World Needs More Oil and Gas
https://www.wsj.com/articles/elon-musk-says-world-needs-more-oil-and-gas-11661772916
- "we should really keep going with nuclear plants."
- Tesla needs base load capacity
- Tesla as a business makes a lot of money selling carbon offsets.

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