October 24, 2023 – Climate support in sustainable energy has miscalculated its potential success. Over the span of this year’s blog series, Rob Gourley and I have realized some severe flaws in the lobbyists’ pronouncement that the end of fossil fuels is near. The first is the resistance to incorporate new technologies into alternative energy processes including clean hydrogen. The second is unachievable requirements imposed by the U.S. Government to subsidize green energy such as an off-grid power source to run energy-consumptive electrolyzers. The third is the expense of startup infrastructure for alternative energy without a strong market to reimburse expensive infrastructure investments. Clean hydrogen produced from electrolysis using renewable power is at least twice as expensive as “dirty hydrogen” made from fossil fuel. The fourth reason is the resistance of major oil and gas companies to go with alternative energy. Recent major acquisitions in the oil and gas sector involving billions of dollars including Chevron’s acquisition of Hess are proof. A recent editorial in the Wall Street Journal (dated October 23, 2023) states about the fossil fuel industry knows the World will need oil and gas for the foreseeable future no matter how much politicians subsidize green energy. The same editorial states … “ If Chevron believed that demand for hydrocarbons would soon peak and decline—as the International Energy Agency (IEA) claimed last month—it instead could have boosted investment in heavily subsidized green-energy ventures such as hydrogen or increased shareholder buybacks. But oil and gas are yielding a higher return on capital than renewables, even with government’s enormous green subsidies.”
The story gets bleaker for alternative energy with major oil and gas companies scaling back their investment in wind and solar and major automotive companies dialing back on production of electric vehicles amid slowing customer demand.
A Bright Light
Innovation could drive down cost for alternative energy or more efficient use of oil and gas reserves. Over the span of this year, we have explored the use of DiTetra Gas in making restructured fuel, improving solar power efficiency and making economical clean hydrogen. We think DiTetra Gas could help overcome some of the corporate resistance towards alternative energy.
All of the 2023 “Ahh! Climate” Series can be found here.
For 2024, we will start in January a new Series entitled “Detoxify”.
Sharing AHA! Discoveries
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