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Dec 19 • 4 tweets • 2 min read
Most Australians support developing more of its natural gas reserves
🇦🇺👍 #DrillBabyDrill

👀 Australia’s energy industry is threatening to freeze investment after the government passed a price cap on domestic gas

(Australians also support the price cap)

afr.com/politics/feder…
Details on the fight between Australia's government and energy industry 👇🥊

Consumers are generally pretty eager to reduce the burden of higher gas prices, so it makes sense Australians are a fan of boosting output or capping rates

While still a fraction of overseas rates, gas prices in Australia have surged this year
Australia's east coast gas producers fear they could soon be ordered to break long-term LNG export deals amid warnings that fossil fuel price caps will stunt new supply projects

(To be sure, the government has consistently said exports wont be affected)

smh.com.au/business/compa…

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More from @SStapczynski

Stephen Stapczynski Profile picture
Dec 18
The energy crisis has cost Europe roughly $1 trillion so far, according to Bloomberg calculations 💰🚨

💸 Thats only the start, with high gas prices poised to last years
⚠️ Its becoming unaffordable for governments to continue providing aid for consumers

bloomberg.com/news/articles/…
💰 Governments were able to help companies and consumers absorb much of the blow with more than $700 billion in aid

⚠️ With interest rates rising and economies likely already in recession, the support that cushioned the blow for millions is looking increasingly unaffordable
Government fiscal capacity is already stretched

🇪🇺 About half of European Union member states have debt exceeding the bloc’s limit of 60% of gross domestic product
Read 4 tweets
Stephen Stapczynski Profile picture
Dec 17
Not since the 1970s oil shock have governments urged consumers to use less energy ⚠️

🇬🇧 UK asks households to turn down boilers
🇩🇪 Germany limits office temperatures, prohibits monuments from being illuminated
🇯🇵 Japan tells workers to wear turtlenecks

bloomberg.com/news/articles/…
🇫🇷 France limit heating in most public buildings and corporate offices to 19C
🇰🇷 South Korea says temperatures in government offices, public schools and sports centers, will be kept below 17C

bloomberg.com/news/articles/…
🇪🇸 Spanish Premier Pedro Sanchez told officer workers and ministers to ditch ties to help save energy (over the summer)

bloomberg.com/news/articles/…
Read 6 tweets
Stephen Stapczynski Profile picture
Dec 17
Global energy producers may freeze investments as governments implement fuel price caps and windfall taxes 💸🛢⚠️

🇦🇺 👇 That’s what the industry in Australia is threatening after policymakers approved a price cap on domestic natural gas prices

bloomberg.com/news/articles/…
📝 Australia’s gas price cap is designed to protect consumers from soaring global prices as the world looks for alternatives to Russian imports

💰 Despite being the second-largest exporter of LNG, Australian retail gas prices were expected to rise 40% by June 2024.
🥊 While the industry STRONGLY opposes to the price cap, Canberra believes this is a battle they can win

👍 Polls published on Dec. 5 found almost 80% of Australians backed a cap

🗣 Industry Minister Husic said “lippy” executives wanting to “hold on to every single dollar”
Read 7 tweets
Stephen Stapczynski Profile picture
Dec 16
Global coal consumption will hit an all-time high this year, says the @IEA 🌎 ❤️ 🪨

💰 “High natural gas prices led to significant fuel switching to coal in electricity generation in Europe”
🏭 Coal demand expected to remain at similar level for years

iea.org/news/the-world…
tl:dr
🪨 Coal use will rise 1.2% in 2022, surpassing 8 billion tons for the first time

🇨🇳 The world’s top coal producers (China, India, Indonesia) will all hit production records in 2022

❓ The IEA says coal will be the first fossil fuel to hit peak demand, but we arent there yet
Read 5 tweets
Stephen Stapczynski Profile picture
Dec 14
North Asia will be hit by below-freezing temperatures over the next few weeks, which threatens to boost global gas prices 🥶⚠️

📈 The world's top LNG importers (China, Japan, S Korea) brace for higher demand
💸 Asian LNG prices are near a seasonal record

bloomberg.com/news/articles/…
🇪🇺 The chill in Asia is coming just as Europe gets lashed by an Arctic blast that’s bringing heavy snowfall to Germany and the UK

bloomberg.com/news/articles/…
🇯🇵 Parts of Northern Japan brace for blizzard as the first big blast of cold air hits the nation
🚢 Japan's utilities have furiously purchased LNG supplies this year, refilling inventories. Japan is set to be the world's top LNG importer this year

Read 4 tweets
Stephen Stapczynski Profile picture
Dec 12
Fusion energy breakthrough? ☢️🚨

🇺🇸 A US nuclear fusion experiment produced more power than consumed for the first time (milestone called net energy gain)
💭 While fusion power plants are still decades away, many dream of the huge clean energy potential

ft.com/content/4b6f0f…
Lasers bombard hydrogen isotopes held in a superheated plasma state in order to fuse them into helium, releasing a neutron and carbon-free clean energy in the process

Scientists have been experimenting for decades, but net energy has been elusive

bloomberg.com/news/articles/…
Nuclear fusion is the holy grail

But nuclear fission technology, which splits atoms and creates radioactive waste, has been commercial for decades and still produces only 10% of the world’s power, far less than coal and gas
Read 4 tweets

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