Thursday, July 29, 2021

Energy 150, Funny California oil importation policy

This is a funny situation, showing the irrationality of double talk by climate alarmism, hahaha. See these reports:

(1) California oil regulators deny new fracking permits 
By ASSOCIATED PRESS | PUBLISHED: July 12, 2021 at 5:33 a.m. | UPDATED: July 12, 2021 at 5:36 a.m.

SACRAMENTO — California denied 21 oil drilling permits this week in the latest move toward ending fracking in a state that makes millions from the petroleum industry but is seeing widespread drought and more dangerous fire seasons linked to climate change.

State Oil and Gas Supervisor Uduak-Joe Ntuk sent letters Thursday to Aera Energy denying permits to drill using hydraulic fracturing in two Kern County oil fields to “protect “public health and safety and environmental quality, including (the) reduction and mitigation of greenhouse gas emissions.”

Aera Energy, a joint venture Shell and ExxonMobil, called the permit denials “disappointing though not surprising.”

“This is the latest decision attacking the oil and gas industry that is based solely on politics rather than sound data or science,” Aera spokeswoman Cindy Pollard said Friday, adding that the company was evaluating its legal options.

BY William Allison Jul. 14, 2021

Citing the need to reduce greenhouse gas emissions, California officials denied 21 fracking permits this week. What they didn’t mention was that the permit denials are more likely to benefit foreign oil producers than the environment.

State Oil and Gas Supervisor Uduak-Joe Ntuk cited climate change as the reason to deny the permits, as California aims to ban fracking altogether by 2024 and stop all oil development by 2045. But not issuing permits to develop domestic energy won’t prevent Californians from using gasoline and other petroleum productions – it’s just ensuring that more of the energy they use will be produced overseas and arrive by tanker.

In fact, for the past 25 years the amount of oil supplied to California’s refineries has essentially held steady at around 660 million barrels per year, but the source of the supply has changed drastically. In 1995, nearly all of that oil came from within California’s borders and Alaska. Today, the majority of the oil comes from foreign imports as data from the state’s Energy Commission shows: 

(3) California Importing More Foreign Oil… Because Climate Change! 
Guest “Too fracking funny!” by David Middleton  July 29, 2021

Well Joe… What is the “logic in increasing foreign production rather than focusing on American jobs and American energy security“?

Meanwhile, high US oil production under Trump has its own momentum, but potential increase is restricted by the Biden administration. See these reports:

(1) U.S. crude oil exports reached record levels in 2020 and remain high in 2021 
JULY 20, 2021  

Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020. So far this year (as of July 9, 2021), U.S. crude oil exports have averaged 3.00 million barrels per day (b/d). The most recent four-week rolling average of U.S. crude oil exports reached 3.51 million b/d, according to our Weekly Petroleum Status Report.

(2) The Insult of Favoring OPEC's Leaders Over America's Energy Workers 
By Scott A. Angelle July 26, 2021

As demand for oil continues to grow, gasoline prices are climbing across the country. Yet, the Biden Administration has asked OPEC – not domestic producers and USA energy workers – for help to supply the U.S. with more oil. Enticing countries with lower environmental standards is actually detrimental to the Administration’s stated policy goal of combating global climate change by reducing fossil fuel usage.

(3) Senators Accuse Interior Dept Of Deliberately Delaying Restart Of Oil Leasing 
By Charles Kennedy - Jul 28, 2021, 9:30 AM CDT

Republican Senators have accused Interior Secretary Deb Haaland of defying a ruling by a federal judge to restart oil leases, issued in response to a temporary suspension—a pause, as it was termed—of these leases by President Biden earlier this year.

(4) Russia Was World’s Second-Largest Oil Producer In H1 2021
By Irina Slav - Jul 28, 2021, 10:30 AM CDT

The country produced an average of 10.18 million barrels daily between January and May, TASS reported, citing Rosstat data. This compared with 11.18 million bpd for the United States. Saudi Arabia remained third, producing consistently below 9 million barrels daily over March, April, and May.

Russia was one of the big winners from the latest OPEC+ deal adjustments, which allowed it to increase its oil production quite substantially without returning to pre-deal levels, however. Those were over 11 million bpd, last produced in late 2018, but since then, Russian oil companies have been restricted by the OPEC+ deal.

This is US weekly crude oil production.

Somehow good news...

 US LNG Exports Hit New Record High! 

Guest “And the year is only half over!” by David Middleton  July 27, 2021 

Covid 47, Dra. Marivic Villa on IVM and Dr Salvana

Dr. Marivic Villa, a Filipina physician based in Florida is a pulmonary and critical care doctor in the largest senior citizen community in Florida, if not the US. Last week, around July 24, she posted a comment at  Dr. Edsel Salvana's fb wall when the latter attacked again Ivermectin as early treatment vs Covid. Dr Salvana is known for intolerance to people and ideas who don't agree with his narratives, also his sponsored products like Remdesivir and vaccines. Either he deletes contrary substantial comments, or he outrightly blocks the commenter. Last week, he blocked Doc Marivic. 

This is Dr. Salvana's fb post as shared by a friend,

I cannot access that post because he also blocked me last October, weird because we don't personally know each other, never exchanged or debated before even once, and I did not criticize or attack him, I just posted an article that questioned Remdesivir, in his fb post where he was pushing the drug. See my story here,

Below is Doc Marivic's post that earned the ire of Dr Salvana:

This study is a piece of ”C...” My experience here in the US is very much contrary.  I've treated so many patients in a very high-risk community, all retirees 65 y/o and above, with comorbidities. No hospitalization, No deaths since September 2020. These people who did the study, I suspect, have been paid and maneuvered to make the study go a certain way.

Dr. Edsel, you are NOT helping the Filipino people at all.

If you think the vaccine is going to save you... It's delusional!!!

Here in the US, we are already talking about the booster, the 3rd shot to cover mutations!!! And the Philippines is what??? Only 4.4% were fully vaccinated, and 9.6% one dose. Are you kidding or what? And You are encouraging these Filipinos not to use IVM, which at this point, is the only viable option for them.

This is crazy!!! Insanity!!!

You don't have any resources to keep up with vaccines. These big pharmas are ”sucking you dry...BONE DRY!!!. Can you afford booster every 6 months? You know very well how MUTABLE this virus is. That's why up to now, there's no effective vaccine developed for coronaviruses. There's even a possibility that these vaccines are driving the mutation faster.

And these vaccines are debilitating and killing people, too; I treat complications every day. From long hauler type presentation, pulmonary and neurologic conditions, TIA Blood clots, low platelet count, cardiac issues, and recently I encountered blood hemolysis.

And the tragedy is you people are BLIND!!! (intentionally)

The Philippine economy is in a ROT

And you are a massive factor in this.

Perpetuating the ”DO NOTHING GUIDELINES,” continue to use drugs like Remdesivir (that's not only practically useless but very toxic!) Addiction to LOCKDOWNS doesn't do anything but make Filipinos poorer and sicker (all depressed and fearful).

With these vaccines, You are also encouraging some unscrupulous politicians and healthcare authorities to be more corrupt and, in the end, hideous!!! I hope 🙏 you are not one of them because you will be remembered!!! for that.

For the Filipinos reading this comment, I urge you to read the meta-analysis done by #DrPaulMarik, #DrPierreKory, #DrJosephVaron of #FLCCCAlliance, #DrTesLawrie #BIRD published in the American Journal of Therapeutics, and #DrAndrewHill et Al (Oxford Academic Journal and consultants to WHO).
#DrMcCullough #APPS

Compare the qualifications of these people to the ones who did this study- no comparisons at all.

You people have to listen to the doctors worldwide who have the most and the best experiences using IVERMECTIN. They are the real doctors, the real people who truly care and genuinely want to save humanity from this ugly disease.

Lastly, just to let you know, even from a distance, I have helped and saved the lives of so many Filipinos because of IVERMECTIN.

Doc Marivic is somehow a regular guest in some virtual fora here in the Philippines, people love her frankness and medical experiences dealing with Covid patients.

She was a guest for instance in Doc Vince Vicente's show last July 17,

The other guest there was Doc Octaviano.

Wednesday, July 28, 2021

BWorld 497, More vaccination, more cases, why?

* My column in BusinessWorld last July 20.

Among the perplexing trends recently in the fight against COVID-19 is that as countries’ vaccination rates (at least one dose given) increase, the number of COVID-19 cases also increase.

I checked the data from Worldometers, here are some countries with rising COVID cases until around July 17:

1.) Slight uptick — the US, Austria, France, Italy, Turkey, Israel, Lebanon;

2.) Medium uptick — Iran, Mexico, Colombia, Japan, Pakistan, South Africa, Portugal, Greece, Morocco, Saudi Arabia, Panama, Kuwait;

3.) High uptick — South Africa, Afghanistan, Kyrgyzstan, Mongolia.

But these countries in Figure 1 really have steep increases in cases — the UK, Spain, Netherlands, Cyprus — and they have high vaccination rates of at least 56% of their total population. Also six ASEAN countries.

Vaccination rates, as of July 17: Netherlands 67.7%, Cambodia 34.5%, South Korea 31.5%, Malaysia 29.6%, Kazakhstan 25.8%, Russia 21.8%, Thailand 15.4%, Indonesia 15.1%, and Vietnam 4.1%.

As of July 15: the UK 68.0%, Spain 62.1%, Cyprus 55.8%, the Philippines 9.2%; Bangladesh 3.5% (July 13), Myanmar 3.4% (June 5). Source:


There are many possibilities and for me the main reason is that the people’s natural immunity (especially the young and healthy) against mutating viruses and bacteria has been compromised by first, indefinite lockdown and stay home orders, and, second, by supposedly vaccine immunity.

Indefinite stay at home and mobility restrictions disallow people from getting more sunlight, more outdoor exercise. And all those vaccines, invented only in 2020 or in just few months with no long-term studies, no studies over many years if not decades on real safety and efficacy, may be spiking the virus to further mutate while the people’s innate immunity is being compromised.

In the US for instance, Vaccine Adverse Event Reporting System (VAERS) data from the Centers for Disease Control and Prevention (CDC) showed a total of 463,457 reports of adverse events from all age groups following COVID-19 vaccines, including 10,991 deaths and 48,385 serious injuries between Dec. 14, 2020 and July 9, 2021 (

Viruses and bacteria naturally mutate, humans also naturally mutate to the changing environment, from microscopic organisms to natural climate change, warming-cooling cycle for centuries and millennia.

Humanity — Asians and Filipinos in particular — has experienced many virulent viruses in recent past, like the Asian flu (1957-58), Hong Kong flu (1968-69), AIDS (1980s to present), SARS 1 (2003-2004), H1N1 (2009-2010), MERS (2013-2014). Yet the human population keeps expanding and life expectancy keeps increasing.

Data from the Philippine Statistics Authority (PSA) population census 2020 (released on July 7) show that the country’s population continues to expand by 16-17 million people per decade, or about 1.65 million per year, net of death and migration. Death statistics 2020 (released on June 18) show less deaths, from an average of 1,700 deaths per day in 2019 to 1,680 per day in 2020 (see Figure 2).

Three points to derive from the above data and numbers.

One, since many countries experience further spikes in COVID-19 cases as their vaccination rates keep rising, expanding vaccination to the young and healthy, especially those below 20 years old, should be reconsidered if not temporarily halted pending results of medium- to long-term studies on safety and efficacy. And plans by many governments to have mandatory vaccination, explicit (via legislation) and implicit (via discrimination) should be dropped.

Two, the Philippines has a big and young population with a huge productive capacity but which is restrained by the indefinite lockdown and mobility restrictions. The lockdown should end and allow the people more economic freedom to be productive.

Three, the decrease in deaths in the Philippines in 2020 was mainly due to reduced fatalities in road accidents and crimes. But this is not justification for continued lockdown because the economic damage has been severe. Economic freedom, people having regular jobs and stable incomes, is still the best way to improve their health, natural immunity, and economic wellbeing.

See also:
BWorld 494, The economic and energy legacy of PNoy Aquino, June 30, 2021 
BWorld 495, High growth under PNoy Aquino and tax cuts under Duterte, July 12, 2021 
BWorld 496, Energy and economic development, July 25, 2021.

Macroecon 11, PH budget 2022 initial numbers

The Department of Budget and Management (DBM) released the Budget priorities framework for 2022. No National Expenditure Program (NEP) yet submitted to Congress. 

The appropriations are: P4.1T in 2020, P4.5T in 2021, and proposed P5.0T in 2022. Disbursements/spending are actually understated bec they don't include spending by LGUs from local revenues on top of their IRA share.

Source: DBM, FY 2022 Budget Priorities Framework

The macroeconomic assumptions in making the budget proposal, the first 3 of these 6 assumptions look unrealistic and too optimistic, for 2021:

1. GDP, 6-7%; but we still have contraction in Q1, -4.2%.

2. Inflation, 2-4%; but we already have 4.4% Jan-June.

3. Dubai oil, $50-70/barrel; but Jan-July about $65 already.

When growth is lower, inflation and oil prices are higher, than the macroecon assumptions, very likely the revenue targets will not be met and the deficit, borrowings will be higher.

Sunday, July 25, 2021

BWorld 496, Energy and economic development

* My article in BusinessWorld last July 13.

After the yellow-red alerts and blackout in the Luzon grid in late May to early June caused by many big but old and ageing power plants going on extended maintenance shutdowns and derating, this month the issue has shifted back to amending the Electric Power Industry Reform Act (EPIRA) of 2001 and kill-coal narratives. See these two reports in BusinessWorld: “House bill seeks to allow gov’t to own power plants, halt hydro privatization” (July 5); and, “Climate advocate calls for ban of coal-fired plants to extend to pending projects” (July 11).

The first report is about amending the EPIRA law which mandated the government to get out of the power generation business, including the big hydro plants in Mindanao, and encourage more private power generation competition. That House Bill will amend the EPIRA for the worse, not for the better.

The second report is about the endless lobby by environmental groups to kill coal power in the Philippines, not just for new projects but even for existing ones, and push more renewables especially wind and solar.

To understand the impracticality of this lobby, see the global power generation picture from the BP Statistical Review of World Energy (SRWE) 2021 that was released last week. I chose the big power and electricity generation countries in the world plus the ASEAN-5, then I computed the percentage share of coal power and wind plus solar. 

The numbers above show the following.

1. Electricity generation. Four of the five countries with more than 1,000 TWH generation are in the world’s top six largest economies or gross domestic product (GDP) size — the USA, China, India, and Japan. Further proof that energy is development, big electricity output is big GDP output.

2. Coal generation. Many Asian countries have coal output at at least 36% of total electricity generation in 2020. These are also the countries with high average GDP growth from 2010-2019: China 7.7%, India 7.0%, Vietnam 6.5%, the Philippines 6.4%, Indonesia 5.4%, Malaysia 5.3%, Taiwan 3.6%, and South Korea 3.3%.

The Philippines’ 58.2 TWH coal generation in 2020 is actually small, only half of Vietnam and Taiwan’s, a third of Indonesia’s, nearly a fourth of South Korea and Japan’s, 1/14 of the US’, and 1/85 of China’s coal generated power. And yet many environmentalists bully the Philippines while they cannot do the same to China, India, and Russia.

3. Wind plus solar generation. European countries are leading in “decarbonization” and have high solar plus wind share to total electricity generation of at least 10%. They are also the countries with slow GDP growth. Average growth 2010-2019: Germany 1.9%, the UK 1.8%, France 1.4%, Spain 1.1%, and Italy 0.3%.

For the first half of 2021, the power generation mix in the Luzon-Visayas grids reflect a similar mix as 2020. During a media briefing last week by the Independent Electricity and Market Operator of the Philippines (IEMOP), the reported average generation mix from April-June 2021 were as follows: coal 55.7%, natural gas 23.6%, geothermal 10.5%, hydro (big and run of river) 4.1%, oil-based 2.5%, solar 1.8%, biomass 1%, wind 0.9%.

Solar, wind, biomass, and run of river hydro are given subsidies via feed-in tariff (FiT), fixed and guaranteed price for 20 years under the Renewable Energy (RE) law of 2008 (RA 9513). So, after 13 years, solar, wind, biomass can produce only 3.7% of total electricity generation.

IEMOP also reported high demand forecast accuracy of the Enhanced WESM Design and Operations (EWDO) with five-minutes interval, day before forecast for peak demand is high 99.2% in Luzon grid and 99.0% in Visayas grid.

The Philippine Electricity Market Corp. (PEMC), the governing board of the Wholesale Electricity Spot Market (WESM), is monitoring compliance by market participants to EWDO.

The good thing in the Philippines electricity market is that there is bigger role for private sector competition in power generation and retail distribution. Market operations are now in the hands of the private sector too. The only thorns are a private monopoly in transmission (granted a Congressional franchise) and the endless lobby to amend EPIRA and some power plants to remain in government hands and hence, non-competitive.

The Philippines should prioritize higher growth and more job creation for its people via cheap and stable energy, not the environmental lobby to kill fossil fuels and thus court frequent blackouts by relying on unstable, unreliable, non-dispatchable wind and solar.

Bienvenido S. Oplas, Jr. is the Director for Communication and Corporate Affairs, Alas Oplas & Co. CPAs

See also: 
BWorld 493, 10 trends in lockdowns, COVID deaths, and vaccinations, June 26, 2021 
BWorld 494, The economic and energy legacy of PNoy Aquino, June 30, 2021 
BWorld 495, High growth under PNoy Aquino and tax cuts under Duterte, July 12, 2021.

Covid 46, Dr. Romy Quijano on vaccine and IVM (part 2)

Retired faculty member of UP College of Medicine Dr Romeo "Romy" Quijano wrote a 3-parts papers about the vaccine. Reposting portions of them here.  

(1) Herd Immunity and Vaccines (FAQ Part 1) 
Romeo F. Quijano MD  June 21, 2021 

… The goal of achieving “herd immunity” through vaccination is practically unattainable mainly because it relies on numerous flawed assumptions such as: homogenous, well-mixing population that is behaving basically in a similar manner, random vaccination with almost perfect efficacy, and uniformity in the population. In reality, many different factors shape patterns of risk and susceptibility to disease, including, among others, age and sex, ethnicity and life circumstances, including stress, lifestyle and naturally resilient immune system. Other problems that make “herd immunity” an unachievable goal through vaccination include: secondary vaccine failure (waning vaccine induced immunity), virus mutation (likely triggered by the vaccine), viral shedding, importation of illness and unexplained recurrent outbreaks.(2)

The human body develops immunity and defends most efficiently against a particular infectious agent as a result of natural graded exposure and re-exposure to the potential pathogen together with natural support factors such as proper nutrition, equitable and just socio-economic condition, adequate and sound health care delivery system, healthy environment, a healthy lifestyle and other health promoting factors. Most microbes, including presumed pathogens, in fact, exist in a beneficial relationship with humans such that they actually strengthen the immune system of their host. Most healthy people carry circulating potential pathogens as commensals. Most of the time, these potential pathogens are being circulated in complete harmony with humans, and nothing problematic happens, other than the body takes note of them and defends against them utilizing innate and natural adaptive immunity. The host usually has no idea that all these human-microbes interactions are happening. When an outbreak of infectious disease do occur, the most rational thing to do is to identify and characterize the pathogen accurately as soon as possible, correctly identify the infected and susceptible individuals or population groups most affected, and institute immediate, rational and comprehensive control measures using a people oriented and human rights based wholistic approach. A narrow, technology and “expert” driven top-down, authoritarian approach focused on a mass vaccination campaign to achieve “herd immunity” imposes unnecessary sufferings and exposes the people, especially the vulnerable population groups (e.g. the elderly and the very young) to significant risks of vaccine-induced adverse effects and makes them more vulnerable to several diseases that were not a threat to them previously.

(2) Lower safety standards and the truth about COVID-19 vaccine ‘efficacy’ (FAQ Part 2)
Romeo F. Quijano MD  July 10, 2021

New drugs, including vaccines (vaccines are also drugs) are normally required to undergo several standard preclinical and clinical studies before being allowed for public use. Preclinical studies are done “in vitro” (ouside the living animal, e.g. in a petri dish) or “in vivo” (in a whole, living animal, e.g. a rat). Clinical studies are those done on actual human subjects. USFDA regulations for preclinical toxicology studies of vaccines require the components (e.g., antigens and adjuvants) to be tested for any adverse effects. These studies should follow good laboratory practice (GLP) guidelines as described in the Code of Federal Regulation. In general, there are five types of toxicology study: 1.Single and/or repeat dose,  2.Reproductive and developmental, 3.Mutagenicity, 4. Carcinogenicity, and 5.Safety pharmacology.(1) However, unlike drugs, vaccines have been allowed to be marketed by regulatory authorities even when most of the vaccine safety studies (e.g., reproductive and developmental, mutagenicity and carcinogenicity), have not been done. Safety pharmacology studies are also inadequate for most vaccines and there are no long-term safety studies done on vaccines. The vaccine studies themselves have often deviated from accepted scientific methods of enquiry, especially regarding use of placebos. Instead of using true placebos (ex. saline solutions or sugar water) or substances that have no significant biological effects,  the researchers usually use another vaccine  or  the vaccine carrier fluid as the control “placebo,” which obscures the results of the study. Additionally, there are hardly any independent study done on vaccines and most of the studies on vaccine safety that get published are designed and funded by the pharmaceutical industry.(2)

… No, the purported benefits of a Covid-19 vaccine do not outweigh the risks in the immunocompromised. There is no evidence, scientific or empirical, to support the recommendation that the immunocompromised should be vaccinated. Even mainstream medicine admits that “current data on COVID19 vaccine efficacy and safety in the ICH (immunocompromised host) is sparse.” In fact, there is practically no data to support the recommendation that the immunocompromised should be vaccinated against Covid-19 since immunocompromised people were not included in the original clinical trials for the COVID-19 vaccines. Historically, vaccination is commonly regarded as much less effective, hazardous and often contraindicated for individuals who are immunocompromised, especially those under immunosuppressive drugs ( ex. transplant patients, cancer, etc), the elderly with co-morbidities, or any other condition that weakens the immune system significantly (even those with an active infection like ordinary cough and colds virus). The usual rational management of immunocompromised individuals is not vaccination but prevention from being exposed to potentially infected persons (e.g. isolation, if necessary), ensuring that their immunocompromised status is adequately treated and managed, and supportive management (appropriate nutrition, supplements, psychological support, etc) to strengthen whatever resilience is left of their innate and natural adaptive immunity is adequately in place. However, increasingly over the years, as more and more vaccines are peddled by Big Pharma, mainstream medicine included many immunocompromised patient categories in their recommendations for vaccination on the dubious assumption that the potential benefits still outweigh the potential risks even though evidence is lacking  to show efficacy and safety. They now even insist that the immunocompromised (especially the elderly) be vaccinated against Covid-19 despite admitting that there is lack of evidence to show safety and efficacy of vaccines for the immunocompromised.

(3) Why social movements should oppose mandatory vaccination (FAQ Part 3)
Romeo F. Quijano MD  July 10, 2021 

“Most of the evil in this world is done by people with good intentions.” – T.S. Eliot

“Well-meaning people are sometimes the most dangerous.” – Angela N. Blount

The control of Big Pharma and the global elite over science and medicine has become much stronger in contemporary times. Practically all scientific studies on vaccines and pharmaceuticals are  done by the manufacturers themselves and governments accept these almost without any question. Almost all medical associations and patient advocacy groups are heavily dependent on pharmaceutical company sponsorships or grants for their operations and programs. There is hardly any medical scientific publication that is not influenced or controlled by Big Pharma and most members of the medical and scientific community rely mainly on highly biased information produced by Big Pharma and are made to believe that it is science. Practically all mainstream media are owned or controlled by the global elite who also own or have close ties with pharmaceutical companies. Most medical “experts” tapped to advise governments in the formulation of policies on vaccines and pharmaceuticals have financial ties with Big Pharma. Even international institutions like the WHO has become beholden to global elite “philanthropic” organizations with vested interests in pharmaceutical companies, with the Bill and Melinda Gates Foundation as the WHO’s second biggest funder. Pharmaceutical product advertising has become almost like any consumer advertising that has gone out of control in misleading the people. Worse, historically, big pharmaceutical companies have engaged repeatedly in unethical and criminal behaviour, often times with the complicity of medical professionals, and almost always, they get away with it (6,7).

See also: 
Covid 30, Dr. Romeo Quijano on IVM and vaccine mania, April 11, 2021. 
Covid 43, Cebu Gov. GarciCoa, mandatory vax, and new variants, June 24, 2021  
Covid 44, Rising vax, rising cases, the Delta variant, June 27, 2021 
Covid 45, More stories on safety or non-safety of Covid vaccines, July 11, 2021.

Tuesday, July 20, 2021

Energy 149, Why coal prices are at all-time high

Coal prices have reached new all-time high of $150.8/ton today. Its previous high prices were:

Sept. 3, 2018, $114.4/ton
Oct. 3, 2016, $108.6/ton
Feb. 1, 2011, $131/ton.

Why? Supply-demand imbalance, of course. But where are the demand spikes and supply restrictions? 

Demand spike in many Asian countries especially China, building more coal power plants.
Supply restrictions in the US because of Biden's "save the planet" agenda. See the rise in prices started in late November 2020 at around $65/ton when it was becoming apparent that he would occupy the White House. The uptick in price is also very steep compared with previous price rise in previous years.

Coal Prices Rise To $150/Tonne, Highest Level In 10 Years 
On Jul 18, 2021

Coal futures surged to almost $150 a tonne in July, the highest level in a decade as a heat wave in Zhejiang, Jiangsu and Guangdong, China’s biggest industrial provinces has pushed the electricity consumption to unprecedented levels.

I also checked these news reports, related stories on climate money.

Asian coal plant drive threatens climate goals: report 
AFP  30/06/2021 - 05:04

"China, India, Indonesia, Japan and Vietnam are planning to build more than 600 coal plants, think-tank Carbon Tracker said.

The stations will be able to generate a total of 300 gigawatts of energy -- equivalent to around the entire electricity generating capacity of Japan."

Indonesia sets coal benchmark price at highest in a decade on Chinese demand 
July 5, 2021  6:28 PM PST

Coal Output in U.S. Seen Rising Most Since 1990 on Global Demand
By Will Wade  July 8, 2021, 1:15 PM EDT

Here Come the Climate Protectionists
By The Editorial Board  July 11, 2021 6:22 pm ET

"Western politicians have failed to persuade their own voters to commit economic suicide by banning fossil fuels, and forget about China, Russia or India. The climate lobby’s fallback, which is starting to emerge, is to punish the foreigners and their own consumers with climate tariffs."

India wants rich countries to pay more for green energy shift
Bloomberg  July 12, 2021

“We have our own developmental imperatives,” Gupta said. “If you want that I don’t emit carbon, then provide finance. It will be much more than $100 billion per year for developing nations."

Trade Review: No peak in sight for met coal prices as supply continues to tighten 
Jeffery Lu Jessie Li   14 Jul 2021 | 02:37 UTC

China’s Heat Wave Is Pushing Coal Prices Toward Record Level 
By Alfred Cang and Krystal Chia  July 16, 2021, 5:00 AM Updated on July 16, 2021, 2:10 PM GMT+8

Meanwhile, House Bill (HB) 1981 was filed in Congress by former Senator, now Congresswoman Loren Legarda, the PH Ecosystem and Natural Capital Accounting System (PENCAS bill).

Shrewd and bureaucracy-expanding bill. It will create a new Commission, create new units in existing Departments and Bureaus, complicate and emasculate the existing national accounting system (GDP computation). Very good in raising further public spending, expand the bureaucracy, while producing more difficult, more costly business permitting.

Very likely targets are the mining, oil gas coal exploration and development. And very likely, that bill won't consider forested land cleared for solar wind power be counted as damage to the natural environment. Her son, Mr. Leandro Leviste, owner of Solar Philippines, is in the business of clearing lands, even murdering thousands or millions of trees to put up wide solar PVs.

See this rape of a forest land in Calatagan, Batangas, Solar Philippines project.   

See also:
Energy 146, On energy storage, solar-wind subsidies, net zero, June 16, 2021 
Energy 147, Palawan oil plants, Cebu and Iloilo coal plants, June 18, 2021 
Energy 148, High oil, gas and coal prices, June 26, 2021.

Wednesday, July 14, 2021

Macroecon 10, Inflation rates June 2021 of the US, PH

US inflation rate in June 2021 is now "classmate" with Tunisia, Mozambique, Hungary, Sri Lanka. Its fellow industrial countries like UK, S. Korea, Germany, France, have inflation rates only 1/2 to 1/3 of the US. Bravo Biden.

Meanwhile, PH inflation has mellowed in June 2021 to 4.1%, but still high compared to 2020 and many previous years.

See also:
Macroecon 7, On US inflation rate 5%, Central Banks and climate, PH losing 3 years due to strict lockdowns, June 16, 2021 
Macroecon 8, Rising inflation rates, prices of industrial and agri commodities, June 18, 2021 
Macroecon 9, Why we should return to the office, June 30, 2021.