Lemme see...
Reduced demand leads to lower prices. I think. No?
In a free market
And, as you stated, nothing to do with green energy at all.
The light wind was a weather event. The heavy reliance on wind/solar requires JIC back up energy sources because people like their electricity. These back up energy sources are typically less green, because they are the old plants that were displaced by wind/solar.
A lot to do with oil price
oil prices seem to be rebounding after weakness caused by Covid shutdowns and reduced transportation demand, wanes.
and an effort to keep nuclear reactors open and even build new ones.
I wish... IMO nuclear energy is still underutilized. This should be top of the list for decarbonizing energy supply.
How much of this is about the pipeline across Europe that brings Russian natural gas to the rest of Europe.
Good luck, this NG pipeline gives Putin more influence over western Europe and harms Ukraine economy.
Big oil must be getting pretty desperate, with prices halved and ever more new oil fields outside of OPEC control. What else is found in Saudi Arabia?
oil history chart This is an interesting oil history chart. It shows the price jump after the oil embargo in the 70s broke government attempts at price controls to keep oil low. Now the Opec+ cartel regulates supply to keep prices high. The US was briefly a net exporter under the last administration, but that has shifted again due to a combination of more restrictive drilling policy and desire for public companies to appear more green, to make their stocks more attractive. Oil companies seem less optimistic about future oil prices so are making less investments in drilling new wells
Yeah, right. SA is preparing to start mining uranium. With few buyers, that could be a problem.
SA? South America, South Africa, Southern Australia? Uranium is thinly traded with most utilities using long term purchase contracts. The short term price swings appear to be possible market manipulation by traders.
I wish they were building more nuclear plants. Me and my fellow utility customers will be paying higher electricity bills for a white elephant "clean coal" power plant that has been burning NG for years. Of course not as high rates as Germany.
Of course, we blame politicians. And sometimes they are in the pockets of Big Oil. Let's give a chance to the few who haven't been bought, shall we?
HLMenken said:
H. L. Mencken - The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.
Climate change is just one of several hobgoblins used by modern politicians to scare and manipulate the voters. The climate is changing, as it always has, the existential threat is IMO political hyperbole.
JR