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• IEA Tells Oil Industry to Cough Up $75B

• Green Energy “Entrepreneur” Gets Jail Time

• Upcoming Oil & Gas Events

• Tweet of the Day

IEA Tells Oil Industry to Cough Up $75B

The oil and gas industry needs to spend only $75 billion on reducing its methane emissions by 2030 and it should do it, the IEA has said.

Per the agency, the sum is just 2% of oil and gas companies’ profits for 2022.

What’s $75 billion between friends?

The oil and gas industry has been in the sights of the IEA for a few years now.

It all began when the IEA turned from an energy agency into a devout member of the Church of the Transition.

And now this cult member wants oil and gas producers to spend $75 billion to reduce their methane emissions.

Methane, in case you don’t know, is a much more powerful greenhouse gas than CO2.

It doesn’t matter that it dissipates quite quickly in the atmosphere.

If it’s got “greenhouse” in its name, it’s evil and must be killed.

And since oil and gas companies made so much money last year, why not use a bit of it to do just that?

Facts don’t matter anymore where oil and gas are concerned

The IEA and other transition outlets can’t stop talking about last year’s profits of the oil and gas industry.

They really resent the good year that oil and gas had.

And they’re totally ignoring the two years before that.

Those two years weren’t all that good.

They weren’t good at all.

They were terrible.

But who cares when 2022 was a year of record profits.

What are companies going to do with those, take them to the grave?

Maybe spend them on things like ensuring the long-term survival of the industry?

Apparently, this is a bad idea.

But spending $75 billion on methane emission cuts is a good idea.

Maybe it is.

But maybe it’s the companies that should make that particular call.

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Green Energy “Entrepreneur” Gets Jail Time

It has become easier than ever to dupe people into thinking they’ll make money and do good for the planet.

Just ask Ray Brewer, who just got a six-year jail sentence for swindling a number of people with a promise to turn cow dung into biofuel.

Anything goes if it’s got “clean energy” in it

Ray Brewer, per a DoJ release, told his victims he’ll build anaerobic digesters at several dairy farms to convert manure into biofuels.

Gullible investor hopefuls gave the man $8.75 million for those digesters that were never built.

Instead, Brewer transferred the money into its own bank accounts and those of his family.

Neat, right?

Brewer did a good job walking his “investors” around the farms and later sending them pictures of the digesters under construction.

Apparently, that and some forged documents were proof enough for the targets that the project was legit.

These are dangerous times

Anaerobic digesters that turn biomass of various origins into methane fuel are indeed a legitimate…interesting technology.

This tech is being deployed on farms as a win-win solution to reducing methane emissions and producing renewable biofuels.

And because everyone is so hyped about the whole transition affair, it’s opened a whole new business area for swindlers like Mr. Brewer from Porterville, California.

Like that guy who made a billion dollars scamming people with his solar generators.

Even Warren Buffett bit that bait and invested millions in Jeff Carpoff’s DC Solar.

Makes you think, right? Can you trust anyone these days?

Upcoming Oil & Gas Events

• June 28-29: Kentucky Oil and Gas Association 86th Annual Meeting

• July 19-20: 2023 Independent Petroleum Association of New Mexico Annual Meeting

Around the Global Patch

🇳🇴 Norway's $18.5B boost: offshore energy expansion.
🇨🇳 China unleashes imported oil, boosting supply.
🌏 Asia's LNG buyers seek long-term stability.

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