Bruce Winter

The hydrogen bubble has burst. Nearly 60 major low-carbon H₂ projects have been cancelled or paused — far more capacity than the world has actually built. The reason? Fundamentals still don’t add up: • Demand isn’t there • Costs remain high • Infrastructure is missing

Texas is in the midst of a massive buildout, and these charts make it clear. Solar and battery storage are growing faster in Texas than anywhere in the United States, and faster than most of the world. The numbers are astounding. In the first few months of 2026: ⚡ Solar will exceed 40,000 megawatts installed. ⚡ Battery storage will cross 20,000 megawatts During Winter Storm Uri, we had ~200 megawatts of storage. That's a 100x increase in five years. Texas builds. Every place needs these flexible, fast-acting and fast-to-build resources as load grows. But Texas is getting them and they're powering industrial expansion, oil and gas production, new data center demand, and hundreds of thousands of new homes and apartments. Solar gives us low-cost daytime energy. Batteries help us store it and use it exactly when the grid needs it most. Solar and storage aren't the whole answer, but nothing is. Solar and storage set a powerful foundation for economic growth, reliability, and affordability. Texas is showing what's possible.

The Alberta Energy Regulator forecasts that AB oil sands supply will peak by 2032, and there's less than 400k bbl/d of growth in removals from Alberta before that peak happens.

The energy transition is real: renewables now top fossil fuels for investment. 2025: $780B in renewables (projected) Past decade: +109% renewables +44% grids/storage +42% efficiency +131% electrification -34% oil -19% gas +13% coal

The US is building a record amount of electricity generation capacity in 2025 to meet rapidly growing demand. And its overwhelmingly clean energy, with a bit of gas. Meanwhile the Trump administration wants to stop permitting of new solar and wind projects.

But, if the federal government genuinely thinks "we might waive the tanker ban for the right project," then "do all the groundwork for your project and then we'll let know," mimics most of the problems that c-5 was meant to solve. Gov't needs to tell proponents the rules.

Support for a carbon tax is: - Higher for middle-income countries - Higher when revenues are used for green infrastructure or subsidizing low-CO2 tech. - Higher than ICEV bans, food policies, or green infra. programs for many countries