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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
210 - Fossil Fuel Execs Show up to COP27