Month: August 2017

A Free Market Mission Statement (draft principles)

“History shows that private property rights, market exchange, and the rule of law have resulted in affordable energy, improved living standards, and a healthier environment.”

“Government policies should be transparent, predictable, simple, and impartial toward all citizens and businesses. Such an approach will spur capital formation in the energy industry and promote optimal technological innovation.”

Some of us have been working on updating the existing mission statement of the Institute for Energy Research (IER).

Here is the latest draft. Thoughts and comments are welcome!

The Institute for Energy Research (IER) is a not-for-profit organization that studies and evaluates the function, operation, and government regulation of energy markets. IER maintains that freely functioning energy markets provide the most efficient and effective solutions to today’s energy and environmental challenges and, as such, are critical to the well-being of individuals and society.

Founded in 1989 out of a predecessor organization, IER is a tax-exempt public charity under Section 501(c)(3) of the Internal Revenue Code. Its funding comes entirely from the tax-deductible contributions of individuals, foundations, and corporations. No financial support is sought or even accepted from government sources.

Our Principles

IER has earned a solid reputation for its scholarly approach to energy analysis and free-market energy and environmental policy. The institute’s perspective reflects the following tenets:

Free markets: History shows that private property rights, market exchange, and the rule of law have resulted in affordable energy, improved living standards, and a healthier environment.

Objective science: Public policy, particularly in the environmental arena, should be based on objective science, not on emotion and improbable scenarios that invite wealth-reducing government activism and impair society’s resilience in the face of inevitable change.

Public-policy realism: Policies seeking to correct “market failure” in energy markets must be tempered by the likelihood of “government failure.” It is misleading to compare idealized government proposals with real-world market outcomes. Government policies are implemented by politicians and bureaucracies, not by unbiased and informed theoreticians.

Equitable treatment: The welfare of energy consumers, energy producers, and taxpayers should be weighed without favoritism.

Constrained Government: Government policies should be transparent, predictable, simple, and impartial toward all citizens and businesses. Such an approach will spur capital formation in the energy industry and promote optimal technological innovation.

 

The post A Free Market Mission Statement (draft principles) appeared first on Master Resource.

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August 1, 2017 at 01:32AM

ROADS POLLUTION HEALTH ISSUE IS JUST A COVER FOR THE CO2 REDUCTION NONSENSE

Look at this chart showing which vehicles produce the most nitrogen oxides and you can see clearly that petrol vehicles (8%) produce far less than diesels (37%), and yet the government want to phase out both at the same time. They know the public are much more concerned by possible health issues and so they hope they will think that petrol and diesel are both equally bad.

Air pollution
The announcement to ban the sale of new petrol and diesel engine cars in 2040 is going to hang over future governments with increasing fear as the date draws nearer. What if electric car sales fail to take off, what next? Will they increases tax on petrol and diesel to give people a nudge? And what if there is an early big uptake of electric vehicles? Then we will find the electricity grid under increasing strain as more and more home charging goes on. We might well find the lights start going out and power cuts become the norm. Then we may find that our batteries are not charged for work – in fact they may even remove charge from them to "balance out" the grid. Motorists will not be very happy, to put it mildly. But this government need not worry. They will be long gone before all this could happen. 

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August 1, 2017 at 01:30AM

US Nuclear Comeback Stalls as Two Reactors Are Abandoned

South Carolina utilities said on Monday they are abandoning two unfinished reactors that were once hailed as the start of a U.S. nuclear power renaissance before they were dogged by billions of dollars in cost overruns.

The reactors were proposed a decade ago when U.S. policymakers expected more than a dozen new nuclear power plants to provide carbon-free electricity. In the years since, however, a shale revolution unleashed a glut of cheaper natural gas, the Fukushima accident in Japan raised fresh safety concerns and the Trump administration is now unwinding steps aimed at countering climate change.

A unit of SCANA Corp and state-owned Santee Cooper said on Monday they would abandon the twin-reactor project known as V.C. Summer. It is less than 40 percent complete, and more than $9 billion had been spent on construction.

“We arrived at this very difficult but necessary decision following months of evaluating the project from all perspectives to determine the most prudent path forward,” said SCANA Chief Executive Officer Kevin Marsh in a statement.

The project was expected to begin producing power last year but has been plagued by construction problems, disputes with regulators and poor quality work.

The utilities blamed the bankruptcy of project’s contractor, Toshiba Corp’s Westinghouse Electric Co, which said in March it could not afford to finish the fixed-price contract for V.C. Summer or a similar project in Georgia known as Vogtle.

A presentation to the Santee Cooper board showed that in the wake of Westinghouse’s bankruptcy the project would likely not be completed before 2023 and would go 75 percent over the initial budget, to as much as $24 billion.

Halting V.C. Summer increases the likelihood Southern Co will abandon the Vogtle project, adding to a long list of nuclear power plants canceled after construction began.

Full story

via The Global Warming Policy Forum (GWPF)

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August 1, 2017 at 12:56AM

Green Activists Face Jail If They Obstruct Shale Development

Ineos has won a High Court injunction against unlawful protests at its UK shale gas sites in an escalation of the industry’s battle with anti-fracking activists.

The ruling will put protesters in contempt of court if they cause any obstruction to Ineos’s shale operations — increasing the powers of police and the judicial system to clamp down on lawbreaking by demonstrators.

Ineos said it was the most wide-ranging injunction of its kind secured by the shale industry and the first issued pre-emptively before a company had planning permission to start drilling.

“We have a duty to do all we can to ensure the safety of everyone on and around our sites, including the protesters,” said Tom Pickering, operations director of Ineos Shale. “Our people and suppliers have the right to come to work free from harassment and intimidation.”

Mr Pickering added that the injunction would “protect our sites, our people, our suppliers and the public from the militant activists who try to game the system and cause maximum disruption”.

The injunction follows weeks of intensifying protests at a site near Blackpool, Lancashire, where Cuadrilla, another fracking company, is preparing to start what it hopes will be Britain’s first commercial shale gas operation.

Disruption such as criminal damage to equipment and sit-down protests to stop traffic at the Cuadrilla site, and another operated by Third Energy in North Yorkshire, have highlighted the difficulties facing Britain’s nascent shale industry as they attempt to bring US-style fracking to the UK.

Ineos, the UK petrochemicals group privately controlled by its founder and chairman Jim Ratcliffe, is the biggest owner of shale licences in Britain, covering more than 1.2m acres of land across the north-west of England, Yorkshire and the Midlands.

Full story

via The Global Warming Policy Forum (GWPF)

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August 1, 2017 at 12:25AM