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ERCOT Urging For Energy Conservation

Vic Mackey

By Vic Mackey
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38 minutes ago, TwiceHorn said:

The point is, though, that natural gas producers don't directly participate in the power utility market.  They serve lots of other markets too.  And whatever subsidies they receive are a separate issue from utilities.

And, as stated above, if a producer or pipeline company profited from the weather, it pretty much means that they weren't frozen up.  They were delivering gas.

Last paragraph - people like Captain need to reread this and understand it. First paragraph is important too - they sell gas to a plant that processes it. They don’t withhold gas to drive up prices in times of really high demand. If they produce they sell. Gas isn’t storable like oil. There’s a fundamental misunderstanding of the dynamics/logistics of the way gas markets work. 

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He sure sang a different tune when that oak tree shed a load on his hypocritical ass. Fuck you Greg.

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Murfdogg21

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8 hours ago, Captainant said:

They aren't subsidizing burning NG, they're subsidizing the production of NG. Page 33 - appendix 2, table 2A - fuel production tax expenditures.

And since you didn't know, the Texas Railroad Commission regulates pipelines in Texas.

Is there any way carpet bagger George P Bush can be blamed for both this and moving the Alamo epitaph?

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Captainant

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ERCOT says staffing shortages have them struggling to meet grid reliability deadlines

 

Quote

 

AUSTIN, Texas — Texas' electric grid operators say they need more staff.

Without the manpower, leaders with the Electric Reliability Council of Texas (ERCOT) said they will not meet the grid reliability deadlines.

 

After the deadly February 2021 storm, Winter Storm Uri, the Public Utility Commission (PUC) created a plan to make the electric grid more reliable.

ERCOT manages the state’s grid. It's ERCOT's job to carry out the commission’s plan.

 

Thursday, ERCOT leaders said they don’t have enough manpower and the projects face delays. ERCOT warned the state would not have all of the energy reserves the commission wants by next winter.

 

 

Ah well, nevertheless

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On 1/14/2022 at 12:27 AM, Murfdogg21 said:

Is there any way carpet bagger George P Bush can be blamed for both this and moving the Alamo epitaph?

He was born in Houston.  Which, as I've found out from people in Texas, means that he's a Native Texan and should mention it at every possible opportunity.  

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Johnny Sack

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On 1/13/2022 at 8:26 PM, Porterhouse said:

You’re gonna have to point out in the narrative to me where it says the E&P industry is directly subsidized. It’s simply not. Not like renewables and other industries. Are there tax incentives to drill and complete oil and gas wells?  Yes, and rightfully so. This is no different than a lot of tax breaks to businesses and consumers alike. 

To state that Texas taxpayers are subsidizing E&P companies is insanely moronic. 

 

On 1/13/2022 at 9:22 PM, Porterhouse said:

I agree with most everything you are saying. You have a reasonable approach. You get it. Unlike Captain, who’s shouting populist spittle without an understanding of the way the world works. Forcing pipelines to winterize at their own cost is a slippery slope though. Making independent producers do it would kill the industry and is unnecessary.

Saying Texans are subsidizing producers is just flat out wrong. It’s akin to saying Texas homeowners (most of whom pay a shitload of federal income tax every year) are subsidized by other taxable entities just because they take a property tax deduction. It’s taking two unconnected concepts and melding them together for a sound bite. 

It also ignores the billions in severance taxes producers pay to the state of Texas every year.  Subsidized my ass.  They are targeted with special taxes other industries do not pay.

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1 hour ago, Johnny Sack said:

 

It also ignores the billions in severance taxes producers pay to the state of Texas every year.  Subsidized my ass.  They are targeted with special taxes other industries do not pay.

I was lying in wait to discuss severance taxes everyone pays, including us non-production company royalty owners. These are paid to the states where production is severed from the real estate. Nobody can avoid them - they are deducts in first purchaser revenue statements. 

Lying in wait, but got really bored with the primitive, angry discourse about Jerry Jones. As if that guy won’t find other ways to embarrass himself regularly. 

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Willfully Horn

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Posted
Posted (edited)

I don’t claim to be an expert, but the IMF probably does claim to be, and they have a different narrative.

Coal, oil, and natural gas received $5.9 trillion in subsidies in 2020 — or roughly $11 million every minute — according to a new analysis from the International Monetary Fund. Explicit subsidies accounted for only 8 percent of the total.Oct 6, 2021

Nothing, or six TRILLION. Seems fishy.

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Dahobbs

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Posted
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18 hours ago, Willfully Horn said:

I don’t claim to be an expert, but the IMF probably does claim to be, and they have a different narrative.

Coal, oil, and natural gas received $5.9 trillion in subsidies in 2020 — or roughly $11 million every minute — according to a new analysis from the International Monetary Fund. Explicit subsidies accounted for only 8 percent of the total.Oct 6, 2021

Nothing, or six TRILLION. Seems fishy.

Might as well provide a link to the original source. Whole paper from IMF can be found here: https://www.imf.org/en/Publications/WP/Issues/2021/09/23/Still-Not-Getting-Energy-Prices-Right-A-Global-and-Country-Update-of-Fossil-Fuel-Subsidies-466004

Here is the language from the summary:

Quote

Globally, fossil fuel subsidies were $5.9 trillion in 2020 or about 6.8 percent of GDP and are expected to rise to 7.4 percent of GDP in 2025. Just 8 percent of the 2020 subsidy reflects undercharging for supply costs (explicit subsidies) and 92 percent for undercharging for environmental costs and foregone consumption taxes (implicit subsidies).

Notably, this appears to be largely about global warming and the negative externalities associated with it. 

28 minutes ago, Johnny Sack said:

Our entire budget is less than 7 trillion.

I would have thought that both the size of the number and the fact that it came from the International Monetary Fund might have clued you in that it was a global, not US only, figure. Although as an implicit subsidy, it wouldn't be constrained by the government's budget anyway.  It pegs the US only figure at $660 billion (page 26 of the paper).

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TwiceHorn

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On 1/17/2022 at 3:52 PM, Johnny Sack said:

 

It also ignores the billions in severance taxes producers pay to the state of Texas every year.  Subsidized my ass.  They are targeted with special taxes other industries do not pay.

Small correction.  Any business that removes natural resources, mining, timber, etc. generally pays severance taxes. It's not unique to oil & gas.

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atomheartbevo

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21 hours ago, bluto said:

No love for energy transfer holding a gun to energy providers heads for $20M they’re owed as cold fronts roll in? Slipping around here. 

5 hours ago, elfenix said:

so how's the gas supply holding up this afternoon?

Cooler heads prevailed?

https://www.texastribune.org/2022/01/20/texas-power-plants-gas-pipeline/

Quote

Texas pipeline company walks back threat to cut off gas to power plants

The new development ends the immediate threat that up to 400,000 customers could lose power, but the underlying financial dispute between two energy giants stemming from last February's winter storm remains unresolved.

Quote

After threatening to cut off fuel to roughly a third of the power plants owned by Texas’ biggest power generator, a major pipeline company said Thursday it will continue selling natural gas to the plants through the end of March. But the companies have still not resolved their underlying financial dispute stemming from last February’s deadly winter storm.

Energy Transfer LP subsidiaries walked back their threat after Luminant, a Vistra Corp. subsidiary, on Wednesday asked state regulators to prevent the pipeline company from cutting off fuel to five Vistra power plants, which produce enough electricity to power 400,000 Texas homes, businesses and critical infrastructure such as schools and hospitals.

Quote

The pipeline companies had told Vistra that gas would stop flowing to the power plants on Monday unless Vistra paid Energy Transfer $21.6 million that they claim Vistra owes them, according to Vistra’s complaint to the Railroad Commission of Texas, which regulates the state’s oil and gas industry.

For Vistra, paying spot prices means buying gas from Energy Transfer at between $15 and $25 per million British Thermal Units (BTUs), compared to the average national price of $3.91 per million BTUs in 2021, according to the Energy Information Administration.

Quote

Railroad Commission Chair Wayne Christian tweeted about it on Thursday: “I am paying close attention to this. @EnergyTransfer and @VistraCorp must come together to resolve this issue so that no Texans lose gas or electric service during cold weather. Do what’s right for Texans.”

 

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TwiceHorn

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Posted
Posted (edited)

Well, for whatever it's worth, Oncor is presently trimming trees in the alley,  It has been a looong time since they've done that.

And, they've been on our short block for a couple of days at least, because they have a LOT to trim.

Fuckers.

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Brisketexan

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Just now, Lobo said:

Imagine how fast Huff's lipstick dog penis sprang out from his loins after he read that tweet?  

"When I'm governor of Texas, we'll have power because I'll burn illegal immigrants as fuel!  Greg Abbott wouldn't do that, because he's soft on immigration!  And I'm hard on it.  Really hard."

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4 hours ago, Lobo said:

Imagine how fast Huff's lipstick dog penis sprang out from his loins after he read that tweet?  

"Florida's kicking our butts. They are winning Super Bowls and it never freezes there. When I'm Governor of Texas, it will never freeze again and the Dallas Cowboys will win a championship."

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TwiceHorn

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2 hours ago, Porterhouse said:

So this is cool here?  Wow. 

Well, in the context that politically and judicially, Greg Abbott took many actions to remove the ability to sue for and collect damages for incidents just like his in one of the most craven examples of pulling up the ladder behind you, then, yeah, it's cool.

More information, here. https://www.texastribune.org/2013/08/04/candidate-faces-questions-turnabout-and-fair-play/

Abbott often contends, disingenuously, that you would recover the same type of damages for such a case today, implying that he received economic damages, which have not been limited.  Obviously, given his pretty functional legal and political career, any big award for economic damages would have been a mistake, because his ability to work in his chosen profession is not curtailed.

In that article, his own lawyer opines that the damages given in settlement were mostly non-economic in nature, pain, suffering, mental anguish (i.e. feeling like a gimp),  And those are exactly the type of damages that are curtailed today because, in no small part, of Greg Abbott.  Those limitations make it far easier for insurance companies to settle cases like his for far less than he got.

Example.  The first year of the settlement, he got $60k, which was a biglaw starting salary in those days, roughly equivalent to 140-180k today.  While he was working full time at Butler & Binion and collecting another cool 60 or 70k.

And, a tree-falling case is not exactly a slam dunk on liability.

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Guest Lobo

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Just a heads up to ERCOT.  Wind will be about 20mph on Thursday.  So not gale force winds, but not nothing.  So it'll be hard to blame wind power.  

However, good news.  Big precip-causing storm that day.  Which usually means----CLOUDS!  So start on your anti-solar messaging now and we got ourselves a winner!

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Johnny Sack

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14 hours ago, TwiceHorn said:

Well, in the context that politically and judicially, Greg Abbott took many actions to remove the ability to sue for and collect damages for incidents just like his in one of the most craven examples of pulling up the ladder behind you, then, yeah, it's cool.

More information, here. https://www.texastribune.org/2013/08/04/candidate-faces-questions-turnabout-and-fair-play/

Abbott often contends, disingenuously, that you would recover the same type of damages for such a case today, implying that he received economic damages, which have not been limited.  Obviously, given his pretty functional legal and political career, any big award for economic damages would have been a mistake, because his ability to work in his chosen profession is not curtailed.

In that article, his own lawyer opines that the damages given in settlement were mostly non-economic in nature, pain, suffering, mental anguish (i.e. feeling like a gimp),  And those are exactly the type of damages that are curtailed today because, in no small part, of Greg Abbott.  Those limitations make it far easier for insurance companies to settle cases like his for far less than he got.

Example.  The first year of the settlement, he got $60k, which was a biglaw starting salary in those days, roughly equivalent to 140-180k today.  While he was working full time at Butler & Binion and collecting another cool 60 or 70k.

And, a tree-falling case is not exactly a slam dunk on liability.

95% of damages in a paralysis case are from future medicals -- namely lifetime nursing care.

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Homercles

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2 minutes ago, Porterhouse said:

To the dismay of many, this is going to be a non-event, and last year will be proven to be an anomaly. 

Who wanted this to be another national embarrassment?  Pretty sure you’ll say ‘the media’ but I get the impression 99.9% out there are relieved to not be fighting over snow for their toilets and the grid isn’t being threatened by 0F wind chills.  

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2 minutes ago, Homercles said:

Who wanted this to be another national embarrassment?  Pretty sure you’ll say ‘the media’ but I get the impression 99.9% out there are relieved to not be fighting over snow for their toilets and the grid isn’t being threatened by 0F wind chills.  

Most won’t. Some here would’ve loved to not personally battle the elements of a power shut down, but would’ve loved the drama and bitch. You know I’m right, and they know who they are. 

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