Category Archives: Energy

Energy

The Spanish Power Outage. A Catastrophe Created By Political Design and a Warning To The World

On April 23rd, I participated in a conference at the European Parliament on the future of nuclear energy with experts from all over Europe, where I warned that, with the current energy policies, blackouts will be the norm, not a coincidence.

The shortsighted and sectarian policy of the activists who populate the government has led us to the worst blackout in the history of Spain. We have been without communication or electricity for nearly eleven hours.

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Europe’s Energy Crisis Was Created by Political Interventionism

An energy policy that bans investment in some technologies based on ideological views and ignores security of supply is doomed to a strepitous failure.

Europe’s Energy Crisis Was Created by Political Interventionism

The energy crisis in the European Union was not created by market failures or lack of alternatives. It was created by political nudging and imposition.

Renewable energies are a positive force within a balanced energy mix, not on their own, due to the volatile and intermittent nature of the technology. Politicians have imposed an unstable energy mix banning base technologies that work almost 100% of the time and this has made prices soar for consumers and threatened security of supply.

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Oil Weakness and Stagnation Risks

The oil market has changed substantially over the past ten years.

The most important factor that explains the lower volatility and price impact in the face of geopolitical risks is that the United States no longer depends on OPEC. At the end of 2019, the United States reached a record in oil production, more than 12 million barrels a day, above Russia, 10.8 million barrels a day, and Saydu Arabia, 10.3 million barrels a day. The United States’ dependence on foreign oil purchases is the lowest ever, and if we consider North America (Canada. US and Mexico), the region is almost self-sufficient.

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