Cancel Culture: Transition Moves from Announced to Cancelled Projects!

C-MACC Weekly Sustainability and Energy Transition Report

Cancel Culture: Transition Moves from Announced to Cancelled Projects!

• 1^st Topic of the Week: What started last year as companies walking back energy transition targets has now progressed to project cancellations and, in some cases, substantial write-downs. Those just walking back targets spoke too soon, and those cancelling spent too soon. Some of the write-downs suggest very hopeful pricing.
• 2^nd Topic of the Week: The burden of clean production proof sits firmly with project developers, especially in Louisiana. The state has so much history of pollution issues and chemical and oil facilities being co-located with communities that it is right to expect skepticism with any new investment idea – even if it is “clean”.   
• Otherwise: We question who is to blame for the move to cap plastic production, we talk about many different carbon initiatives, the further decline in solar module cost without lower power project costs, chasing China, and why lithium investments continue despite the pricing signals.

Exhibit 1: A lot of projects get canceled (US power in the chart), but not many once capital has been deployed.

Source: EIA