The stability in Gulf of Mexico oil production rates, as noted when the data for June were released, continued into July. Oil production once again remained remarkably consistent at 1.8 million bopd.
Average daily production was within 1.4% of 1.8 million bopd for each month from February to July. As previously observed, this is as stable as production has been for any 6 month period in the past 10 years.I’m not sure this observation is terribly significant, but it’s interesting nonetheless. 😀
If the streak didn’t end in August, it most certainly did in September given the shut-ins for Hurricanes Francine and Helene.
floating turbine being positioned in Kincardine wind farm
The 50 MW Kincardine Offshore Windfarm, which is billed as the “world’s largest floating wind farm,” experienced a £30 million loss in 2023 following a £18 million loss in 2022. The turbines are located 15 km off the coast of Aberdeenshire, in water depths ranging from 60 m to 80 m.
The graphic below summarizes the 2023 financial results, which were even worse than those for the prior years of operation. For those who want more detail, I have attached the 2023 audited financial statement for the wind farm. You can also view audited statements for prior years.
Although BOEM was forced to “postpone” the Oregon wind sale given the absence of bidders, opposition from tribes and county governments, and a last minute letter from the Governor (political cover?), California still seems to be all in on the development of the 5 deepwater wind leases in Federal waters.
It cost them 46 million quid to make 13 million quid's worth of electricity!
This text message from a close friend of my wife gives you a sense of the enormous challenges being experienced by so many in the wake of the flooding. As background, she lives in the Asheville area. Her home and car were completely destroyed. She was rescued by her brother (subject of the update below), who lived an hour away.
“Thank you. I am at ER. My brother began getting chest pains. Emt came and carted him out on a stretcher. Changed from emergency vehicle to ambulance a few miles down the road. He hasn’t even got here yet. I’ll be called when he is checked in. Fireman drove me here in his truck. Ushered me through the hospital p-lot maze then the long winding path to ER. Thanx for letting the others know. The hospital has a good signal. Even a few blinking traffic lights. The area where I live is devastated. We evacuated to the upper hills where the folks living there took us in. We were completely stranded 2 days until the younger, stronger people devised a path and bushwhacked a way out for cars already on the hill the first car got out this morning. More later…love and thanks to all.♥♥♥“
The Nantucket non-profit ACK for Whales (ACK is the FAA abbreviation for Nantucket Airport) has petitioned the Supreme Court to review the 1st Circuit’s ruling on the Vineyard Wind project. Per the Supreme Court filing (full document attached):
Despite the agencies’ explicit statutory duty to consider all “best information available,” regarding the impacts its actions might have on an endangered or threatened species and those habitats, the National Marine Fisheries Service (NMFS) and the Bureau of Ocean Energy Management (BOEM), did not consider the cumulative impacts of other planned projects when they authorized and issued permits to construct the Vineyard Wind 1 Project.
Will the Supreme Court accept the case?
“Hail Mary:” Per the Nantucket Current, the odds that the Supreme Court justices will accept the case are exceedingly slim. Of the 7,000 cases that the Supreme Court is asked to review each year, only 100 to 150 of them – about 2 percent – are accepted.
“Really good chance:” Per Val Oliver, ACK for Whales founding director, “In light of the recent Chevron decision, we think we have a really good chance. That was about government overreach and that is what this (Vineyard Wind) has felt like since the beginning: go, go, go, and we’ll figure it out as we go. That’s just not responsible.“
Regardless of the outcome of this case, there is a profound inconsistency in the administration of the Endangered Species Act as evidenced by our comparison of the operating restrictions for the Right whale (Atlantic wind) and Rice’s whale (Gulf of Mexico oil and gas). Note that the more onerous Rice’s whale restrictions were removed by court order.
Bud's Offshore Energy (BOE) 