If only the United States economy were as strong as ExxonMobil. If only energy realism and free-market consumer service were guiding lights in Austin, Texas; Washington, D.C.; and other seats of political power.
The good news from Exxon Mobil’s annual stockholders meeting in Dallas earlier this week is that the company is focused on its core competencies amid the energy politicization around it. No Enron political machinations here!
In fact, Exxon Mobil is the anti-Enron of corporate America, a rebuff to Ken Lay, who once worked at Exxon, and Jeff Skilling, who declared in 2000: “You will see the collapse and demise of the integrated energy companies around the world. They are going to break up into thousands and thousands of pieces.” (1)
The key messages of Exxon Mobil CEO Rex Tillerson were:
When asked for conjectures about the Smart Grid, economists’ imaginations become almost indecently fertile. Writing in her blog, market-friendly Lynne Kiesling sees astounding dividends from real-time pricing and smart grid technology, preferably with competitive retail service.
Say, for example, you are on the train to work, and you get a SMS [ text message] notification that due to unexpected weather, there will be a higher-than-normal electricity price in the 9:00-10:00 hour. You may have already programmed your devices to respond to price signals, but what if the price is high enough that you want to change your settings? You can log in to your HAN [Home Area Network] from your mobile device, or from your computer at work, and change the device settings in the home through the web portal. … [i]f the home has e.g.
Considering that climate models are predicting global temperatures to be rising at a rate far greater than they actually are, you would think that the model developers would be taking a long, hard look at their models to try to figure out why they are on the verge of failing.
In fact, I would expect to soon start to see papers in the scientific literature from various modeling groups attempting to explain why their models have gone awry and to provide an accompanying downward revision of their projections of 21st century temperature change. After all, how long a period of no warming can be tolerated before the forecasts of the total warming by century’s end have to be lowered? We’re already into our ninth year of the 100 year forecast period and we have no global warming to speak of (Figure 1).…