by theluckycountry » Fri 04 Jul 2025, 19:19:12
As the world continues to install new airconditioners and ever bigger flat screen TV sets, the vaunted Wind power solution is going the way of the EV. Though it's demise will be a lot deeper since it doesn't have millions of hypnotized consumers still lining up to buy into it.
Norway's Equinor scales back climate ambitions as wind changes
If anyone can afford these Norway can, but they are rejecting them, because they are not cost effective.
$this->bbcode_second_pass_quote('', '.')..The oil and gas producer in 2022 laid out short- and medium-term steps intended to achieve net zero emissions, including those from the use of its products, by 2050.
But in February, it scrapped a pledge to devote more than 50% of its gross capital expenditure to renewables and low-carbon solutions by 2030. "The energy transition has started, but the opportunity set for high-value growth is more limited than we had anticipated," Equinor CEO Anders Opedal said on Thursday.
He cited increased costs, supply chain challenges, and delays by authorities in setting the necessary framework conditions, as well as a shift in governments' priorities. "Due to the geopolitical tension, public spending on defence will increase, leaving less funding available for the energy transition,"
https://www.reuters.com/business/energy ... 025-03-20/Ahhh, defense spending, good cover story eh? But I thought renewables were supposed to be cheaper? If so they would have left in more money for defense spending in their wake. Isn't renewable energy supposed to be much cheaper? Seems not. When you reach the level of Lies pushed on the public today you can't hope to make them all tidy. There are huge gaps in the narrative that one can look through to see the truth. Just look at the Lies told about EV charger buildouts, blatant, but now it's over, who looks back to challenge the Lies? People don't want to discuss it, certainly not in this echo chamber.
Shell shifts focus from offshore wind to higher-return activities Same story here.
$this->bbcode_second_pass_quote('', 'T')he shift comes as the offshore wind sector faces rising costs and supply chain issues. A Shell spokesperson stated: “While we will not lead new offshore wind developments, we remain interested in offtakes where commercial terms are acceptable and are cautiously open to equity positions if there is a compelling investment case.”
Shell’s decision aligns with similar strategies by BP and Equinor, who have also slowed renewable investments due to investor pressure for higher returns. The energy shock from Russia’s invasion of Ukraine and declining profitability in renewables have influenced these decisions.
Energy shock from Putin? But that's higher Gas prices, Gas being what the Europeans have been relying on to generate electricity. So even with higher Gas prices Wind is unprofitable. Now look at nuclear power across Europe, Japan and America. In the last 30 years only a handful of plants have been built. Why? Because they are uneconomic of course, they were built with massive government subsidies and could never pay for themselves without hiking power prices to a level the average consumer couldn't afford. That's what's happening in Germany today with their Brain Dead renewable build out. Industry has fled Germany enmass because industry uses a lot of electricity and the can't afford the Renewable price of it. Households are cutting back too because they just can't afford it. Prices are double the rest of the continent.
$this->bbcode_second_pass_quote('', 'T')op brass from Germany's conservatives continued to call on the government to reduce the electricity tax for all businesses as well as private consumers, despite a decision in Berlin to only implement a cut for industry.