Russelville Powerplant by Edibobb
By Jo Nova
Remember all the people who said coal was a stranded asset?
The two largest economies on Earth are throwing money at it.
The AI boom is pushing the USA to invest in fossil fuel power in a big way(especially gas).
America Bets $50 Billion On Coal And Gas Power, More Than China, As Electricity Demand Soars
Irena Slav, OilPrice
U.S. companies are set to spend some $50 billion on power generation from coal and natural gas this year, the International Energy Agency has said, as quoted by the Financial Times.
This would be the first time in decades that U.S. spending on coal and gas generation would be higher than what China is investing in the two fuels, with the difference at $3 billion.
That is some transformation — wow.
Financial Times/ Zerohedge.
Waiting times have blown out for gas turbines:
The report cited a Rystad Energy analyst as saying prices for gas turbines have gone up from $800 per kWh to over $2,500. In addition to data centers, whose owners have bet on baseload power supply from gas power plants—and coal, too—the expansion of wind and solar has also prompted stronger demand for baseload generation to keep the grid balanced when the weather is unfavorable for either wind or solar generation, or both.
While demand for electricity soars, gas turbine production has been flat over the past few years, resulting in a deficit. Siemens Energy, one of the world’s top three gas turbine makers, reported in February that its gas services business had seen a record quarter in orders, with a total of 102 new turbines in the backlog. As much as 40% of these new orders came from the United States, and another 35% came from Europe.
As a commenter at Zero Hedge opined:
China spends $50B on coal plants and builds 50 new coal plants.
US spends $50B on coal plants and that pays for the permits, environmental studies and 10 years of litigation in the courts for one new coal plant.
We hope Trump has got rid of some of that red tape.
Still, it’s hard to sell the end of coal when the biggest economies are spending gangbusters on fossil fuels.
Good to see King Coal and Gas on the scene. Nuclear is next.
Australia needs to wake up and soon.
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Al Pinocchio & his fellow liars haven’t heard the expression “ you snooze, you lose “!!
It would appear that the LNP opposition are still basically comatose in spite of recent stirring! 😴😴😴😴
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Even if Australia gets a rational government like One Nation, there is little chance of Australia building a proper coal, gas or nuclear power station any time soon.
We would be too far down the waiting list behind the advanced economies like USA and China.
That’s on top of the already existing huge regulatory burdens, sacred site claims, lawfare, feral unions, enquiries and general BS, BS, BS which even if power station parts were available would already mean 10+ years delays in the “can’t do” country.
And as time goes on, Australia continues to blow up its power stations, just like the National Socialists’ Nerobefehl (Nero Decree) although even war criminal Albert Speer was smart enough not to implement that, unlike our own International Socialists.
Australians just have to accept their rapid decline into a second rate, energy starved country. (Not saying that’s going to happen, we’re already there.)
This is what Australians voted for.
What did Australia use before candles? Electricity.
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I guess this has always been how it goes.
They keep us blabbering on about ‘following science’ while they’re following the money.
As in our money.
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