ResNet Review is the Energy Newsletter for the Shalennial Generation

Here’s our top Energy Headlines for June:

1. KING CHARLES, ENERGY EXPERT, LAUNCHES NATIONAL CLIMATE CLOCK 😵 

2. SHELL JOINS BP IN UNVEILING INNOVATIVE NEW BUSINESS STRATEGY 💸

3. ESPIONAGE HITS THE ENERGY SECTOR 🙈🙉

4. NET POWER AND RICE ACQUISITION CORP. II JOIN FORCES TO CREATE A ‘GAS-TACULR’ CLEAN ENERGY REVOLUTION! 💯

KING CHARLES, ENERGY EXPERT, LAUNCHES NATIONAL CLIMATE CLOCK

• King Charles and London Mayor Sadiq Khan have launched a National Climate Clock, which warns there is just six years left for the world to limit global warning.

  • King Charles was supposed to launch the clock at this same time last year, but unfortunately had to postpone because the ceremony fell on the same weekend he was scheduled to give the eulogy at Jeffrey Epstein’s memorial service.

• King Charles has always been a big environmental activist. At the age of 21, Charles delivered his first impassioned speech about his personal concern over oil pollution and single-use plastic.

  • When asked for a tangible example of one thing King Charles has ever done in his life to actually address his “concerns” about oil pollution, The King pointed to his new clock. As we know, clock launching has enormous impacts on reducing carbon emissions. All hail the King!

• The clock is the latest in a worldwide project which brings together art, science, technology and grassroots organization to count down to the critical time window in which the globe must reach zero emissions. Earlier this week, stars such as Olivia Coleman and Woody Harrelson were among well-known faces reciting the King's speeches.

  • I understand King Charles' life is easier if he goes along with the whole climate activist charade for the public eye, but the royal family is not exactly known for being all that progressive. I bet if we gave Charles a few cocktails it wouldn’t be long before he started telling the truth and saying what’s really on his heart…

SHELL JOINS BP IN UNVEILING INNOVATIVE NEW BUSINESS STRATEGY

• New Shell Chief Executive Wael Sawan went to New York to persuade Wall Street that Europe’s biggest energy company should increase spending on fossil-fuel production and break from Shell’s year-over-year cuts in oil output

  • How about the cajones on Sawan? 6 months into the job and he’s already boldly suggesting a company that’s been producing oil since 1907 should… produce more oil.

• While that message might please some shareholders, it would frustrate others who have called for Shell to funnel much more of its fossil-fuel profits into lower-carbon energy.

  • This sounds similar to struggles BP faced. It has to be hard convincing shareholders that the company should try to make them as much money as possible.

• Sawan pointed to Shell’s LNG business, noting, “​​If you’re making around 30%-plus returns in upstream LNG, how can you justify investing in businesses with substandard returns?”

  • “Because if you don’t we’re going to throw another cake at the Mona Lisa, that’s how!”

ESPIONAGE HITS THE ENERGY SECTOR

• Last week, we had the Energy Department getting hacked. This week,, a spying scandal inside Southern Co., one of America’ biggest power companies.

  • Stay tuned for next week where we learn how Jennifer Granholm got catfished.

• For the Energy Department hack, fortunately officials said none of the pilfered data had apparently been leaked online so far and that no extortion demands had been paid to the hackers. A Russian-speaking criminal group was likely responsible, officials said.

  • Classic “Gift of the Magi” situation here. Putin hacks the energy department only to find out Biden has already sold all our energy reserves. Sorry Putin, Biden’s playing chess, you’re playing checkers. This won’t backfire.

• As for Southern Co, nearly a year after the spying became public, the investigation is largely complete—and the company says it has no idea who ordered the operation or why.

  • How soon can we get a 10-episode netflix documentary on this story?

NET POWER AND RICE ACQUISITION CORP. II JOIN FORCES TO CREATE A ‘GAS-TACULR’ CLEAN ENERGY REVOLUTION!

• NET Power and Rice Acquisition Corp. II have completed their merger, forming NET Power Inc. (NYSE: NPWR), which has a combined enterprise value of approximately $2.5 billion.

  • NPWR power plants achieve the “energy trifecta” of clean, reliable, and zero emission power generation in which ~40mmcfpd of natural gas and pure oxygen are combusted, and CO2 is used as the primary working fluid for power generation

  • Unlike traditional coal and gas-fired power plants, CO2 in NPWR plants is of super-critical state, enabling for 100% carbon capture, which can be used for tertiary recovery in traditional O&G applications, or for permanent sequestration, tapping into the recent IRA 45Q credit opportunities

• Climate activists, which have their biodegradable knickers in knots about natural gas extraction, now making pushback against any carbon capture technology. Point noted, but let's try not to miss the zero-carbon-emission forest for the fracking trees, shall we?

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