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Emerging oil nations reject climate curbs on exploration, pursue rapid development

August 25, 2021
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By Paul Homewood

 

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HOUSTON, Aug 19 (Reuters) – The world’s newest oil-producing nations grabbed the spotlight at this week’s Offshore Technology Conference with ambitious plans to tap oil and gas discoveries in a race against a global energy transition to lower-carbon fuels.

At the conference highlighting renewable and cleaner-burning fuels and investors moving bets away from fossil fuels, Brazil, Ghana, Guyana, and Suriname laid out agendas to pump massive oil and gas discoveries that could reshape their economies – if they can get them to market before values erode.

The contrast between their goals and governments moving to impose net-zero carbon emissions rules by 2050 was clear in the first large U.S. oil technology conference and exhibit since the pandemic.

Historically a place for oil firms to boast of deepwater breakthroughs, this year’s Houston conference showcased cleaner fuels and the urgency of emissions reduction, accentuating low-carbon tech, offshore wind and clean-burning hydrogen.

OIL KEY TO FUTURE

"We have millions of people without electricity in Africa," said Ghana Energy Minister Matthew Opoku Prempeh in an address echoed by other emerging energy producers. "Energy transition does not mean we’ll see our resources unexploited."

With three-quarters of Guyana covered by forest, carbon emissions from massive oil and gas discoveries just beginning to be tapped can be absorbed, Bharrat Jagdeo, Guyana’s vice president, told the conference.

"We have been called to leave our oil in the ground. We believe that’s totally unfair," said Jagdeo. "Being a small country, we will not have the capacity and the framework for an optimum operation of the oil industry right now, but we will continue improving."

https://www.reuters.com/business/sustainable-business/emerging-oil-nations-reject-climate-curbs-exploration-pursue-rapid-development-2021-08-19/?mc_cid=4013cbbc49&mc_eid=4961da7cb1

 

What is certain is that if the oil is pumped, it will be consumed, somewhere by somebody.

Meanwhile the West, who are busy going down the dead end of hydrogen and wind power, will be left behind.

11 Comments
  1. Carbon500 permalink
    August 25, 2021 3:08 pm

    Meanwhile, the doom-mongering continues.
    Here’s a YouTube presentation telling us (again) about how humans now control the world’s climate, care of the latest IPCC tome:

    • Gerry, England permalink
      August 25, 2021 6:17 pm

      What a sad deluded muppet.

      I read earlier today that there are 2 submissions under the Error Reporting Protocol pointing out defects in the IPCC report and under their procedure – which I am sure they are likely to ignore – these need to be addressed by the end of next week. One is from a team working with Lord Monckton of Brenchley on Control Systems Theory and the other is from the author of a peer-reviewed paper on the models that prop up their scam.

      It is pretty damning saying that:-
      “In my journey of six years to publication, through nine journal submissions, 30 reviewers and their 35 reviews, I did not encounter a single climate modeler who understood physical error analysis, or propagation of error, or the meaning of model calibration or of uncertainty, or of the impact of physical error upon predictive reliability, or even of the absolutely central distinction between accuracy and precision.

      Climate modelers are evidently incapable of evaluating the reliability of their own models. This finding provides an explanation for the universal recourse to a useless precision metric to purport projection reliability in their published work, rather than accuracy.

      I mention these difficulties because, in evaluating the error that I have here drawn formally to your attention, you will need to consult competent experimental physicists, who do understand physical error analysis, rather than climatologists, who do not so understand.”

      Ouch!!!

      • dave permalink
        August 27, 2021 9:12 am

        All down to a complete lack of penetration into our education system of the insights of the science of Cybernetics. I was going to write ‘the modern science of Cybernetics’ but I first read about it in 1958!

        To me, people who approach a subject without first asking the question,
        ” What type of problems of internal control and communication arise here?” are like non-swimmers entering deep, dark waters, and ignoring the whistle of the lifeguard.

      • MikeHig permalink
        August 30, 2021 11:01 am

        That’s a very telling critique.

        The same problem arises with the use of statistics in climate “science” with the famous example of the demolition of the hockey stick.

        I have long noticed that there is frequent criticism of climate papers because of the inappropriate use of statistical techniques, massaging of data, etc.. I never understand what the problems are but I find it very illuminating that the authors never seem to consult professional statisticians.
        I suspect that, if climate papers had to pass an expert review of their analyses and use of techniques, very few would get published.

  2. It doesn't add up... permalink
    August 25, 2021 3:48 pm

    Guess who will be supplying the technology and reaping the rewards with supply to their own economy,, while enabling access to other resources and exerting political control?

    Western retreat from these roles will make the retreat from Afghanistan seem like a walk in the park.

  3. Broadlands permalink
    August 25, 2021 3:49 pm

    “What is certain is that if the oil is pumped, it will be consumed, somewhere by somebody.”

    That’s the fallacy of biofuels. Add some ethanol to fossil fuels and it is quickly consumed at the pump. And unless new sources of ethanol are quickly grown??? Back to square one! CO2 is returned to the atmosphere. How many balls can be kept in the air forever?

  4. Charles Moncur permalink
    August 25, 2021 4:12 pm

    John. Oil & Gas will be around for decades

    Sent from my iPhone

    >

  5. bobn permalink
    August 25, 2021 4:13 pm

    What is certain is that oil is needed, it will continue to be in demand, therefore it will be pumped. Same for coal.
    Im buying cheap oil and coal company shares – they pay fat dividends!

    • Matt Dalby permalink
      August 26, 2021 1:20 am

      Too right, trying to leave oil in the ground does nothing to change demand for it, except possibly increasing prices so less well off people use a bit less and see a massive drop in their standard of living. If only the eco-loons would realise this and see that it makes economic and environmental sense to produce it as close as possible to where it’s consumed rather than importing it they would drop their pointless opposition to the Cambo oilfield and Cumbrian coal mine. These schemes could provide well paying jobs and tax returns instead of importing what we need from politically unstable/hostile countries e.g. Russia, Iran etc.

  6. August 25, 2021 6:11 pm

    The cracks are beginning to show.

  7. Vernon E permalink
    August 26, 2021 12:16 pm

    The comments demonstrate that even followers of this blog have been seduced into equating climate change with carbon. There is no forensically demonstrated connection whatsoever. Instead of arguing about whether climate is changing or not (of course it changes, it always has and we still don’t know why) the concentration should be on the rejection of the influence
    of carbon.

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