@bradplumer Okay, here goes. We will solve this because:
1) customers demand it 2) employees demand it 3) investors demand it 4) many (but not all) policymakers at municipal, state/regional, and national levels are pushing for it. And those recalcitrant ones in opposition are losing hold.
@bradplumer The world has faced difficult global challenges before: WWII, the Cold War, the Ozone Hole. And we solved those challenges EVEN though there were significant stakeholders in opposition to change. Eventually those holdouts lost. The world came together and solved it.
@bradplumer People forget how hard the Cold War was. It seemed like a great unsolvable problem--it took multinational coalitions and 3-5 decades. But we did it. Climate Change is a multinational multidecade problem and we can solve this one, too.
I am waiting to board a plane to Iceland, and frankly I’m a little disappointed that no one‘s dressed as a Viking in the waiting area.
Update: we landed in Iceland before breakfast and the first thing we did after we got off the plane was take a hike up a mountain to check out this volcano that’s newly active after 800 years. Incredible.
Also, check out the tires on this cool Mercedes in Iceland: I would love to see it drive on @EvilMopacATX
This is the heart of the problem: Wind, solar, nukes, coal & gas power providers have a strong $$$ incentive to winterize & improve reliability b/c their lack of production was costly.
Gas suppliers made a handy profit from the flimsiness of their system. So why winterize?
BTW, I need to be clear here to differentiate local gas distribution companies (your gas utility) who delivered gas consistently to our homes (saving lives) and the gas industry that extracts and moves gas from wells/storage to the customers (including those gas utilities).
TX today is like 1980s CA in terms of population (~30M) & politics (Republican).
Other than stints in Paris & Lausanne, Switzerland I have lived in TX or CA my entire life so this tension between their two examples fascinates me.
NOTE: California is symbolized with a surfboard in both instances. Texas with a cowboy hat. And, Texas has a petroleum-fueled jetski for transportation while CA's mode is propelled by renewable wave energy.
I've lived in TX for 3+ decades and in CA for 1+ decade. Both are amazing states.
A key difference: Texans are obsessed w/ CA, but Californians don't think about TX at all.
TX politicians rant about CA all the time for example w/slogans like "Don't California My Texas"
BTW, buried in this story is that Chevron raised its dividend and Continental Resources reinstated its dividend. It's heartwarming to know that Texans freezing to death is good for business.
I'm reading through the filings for Continental Resources. They swung from a Q1 2020 loss of $200M to a Q1 2021 profit of $400M DESPITE producing 15% less energy. Keep in mind that Q1 2020 was barely touched by COVID. This shows how profitable the Texas Energy Crisis was.
The Texas Oil & Gas Association (TXOGA) paid ENVERUS to prepare a report.
The report says gas = good & wind/electricity = bad
Are you surprised that a consulting company gave its customer a report that makes them look good?
The report is highly flawed. Let’s dig in. [THREAD]
Main problem: It says that gas supply disruptions were because of power outages rather than the other way around.
But that doesn’t make sense from an engineering perspective: gas supplies started to fail Feb 10-12 & load shedding in ERCOT didn’t begin until 1:20 a.m. Feb 15.
The report makes a fundamental mistake, confusing OUTAGES for LOAD SHED. There are always outages, but rarely load shed.
This mistake undermines the entire logic of the report's conclusions. This sequence (gas failed first, power failed second) is critical, yet they missed it.