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MORNING ENERGY NEWS  |  01/31/2020
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Carbon tax pushing mayor backs tax-hike Mike.


Fox 5 (1/30/20) reports: Muriel Bowser is endorsing former New York mayor Mike Bloomberg for president. Bowser made the endorsement in a tweet Thursday morning. 'We can resolve our most pressing problems if we have the right leader to turn innovative ideas into reality,' she wrote. 'Mike Bloomberg is a problem-solver with a proven track record of getting things done. He’s a mentor and friend and I’m proud to endorse him for president.' Bowser also included the hashtag #MikeWillGetItDone as well as a photo of herself with the text, 'Mike Bloomberg is the only candidate who will unify the country and defeat Donald Trump and has a blueprint to rebuild America and improve the quality of life for all Americans.' Bowser has several events on her calendar Thursday including a major announcement on her office’s push for D.C. statehood."



"Of all my father’s accomplishments, I believe the one he was proudest of was his role in ending military conscription. I do not think he would be happy to be conscripted, posthumously, for someone else’s cause [of a carbon tax]."

 

– David. D. Friedman,
son of Milton Friedman

Anyone who's been following Bob Murphy on this...


BBC (1/29/20) reports: "Referred to as "business as usual", the scenario assumes a 500% increase in the use of coal, which is now considered unlikely. Climate models suggest that this level of carbon could see warming of up to 6C by 2100, with severe impacts. Researchers say that on current trends, a rise in temperatures of around 3C is far more likely...Rather than being seen as something that only had a 3% chance of becoming reality, it became known as the 'business-as-usual' scenario, by climate scientists and has been used in more than 2,000 research papers since...Very few scientists realized that RCP8.5 was originally a 90th percentile outcome, not a most likely or business-as-usual outcome. They assumed too much, when they should perhaps have checked, say the authors of the review. 'At the end of the day, scientists have to take responsibility for what they choose as input data, and there should be a degree of due diligence,' said Glen Peters, from the CICERO Center for International Climate Research in Norway. 'How many of your average climate scientists know the nuances of RCP8.5? It would certainly be interesting to know.' The media, taking their steer from scientists, have tended to use the highest impacts when reporting on projections based on emissions scenarios."

The "champagne" of energy.


Reuters (1/29/20) column: "It’s been an extremely weak start to the new decade for liquefied natural gas (LNG) with spot prices in Asia falling to more than 10-year lows, but it’s not all doom and gloom for an industry that sees itself as part of the solution to climate change...There’s nothing LNG producers can do about the weather, other than hope for a warmer than usual summer to boost electricity demand for air-conditioning, followed by a colder, or at least normal, winter in 2020/21...LNG was once described by an executive at an Indian power utility as the 'champagne of fuels.' By this he meant that it was a great way to generate electricity insofar as it was cleaner than coal and just as reliable, but that it was also too expensive However, the economics are rapidly shifting, and while existing coal plants may still be able to operate more cost-effectively than existing natural gas generators, when it comes to new builds the dynamics are changing. While not applicable in every country across Asia, the economics of building and operating a natural gas plant using imported LNG are likely to prove competitive against doing the same with imported coal. That’s because while coal is still cheaper to use for generation, the other factors are all swinging in favor of LNG.."

The food shortages must have finally hit the presidential palace, but it's too little too late.


Reason (1/29/20) reports: "Venezuela sits atop the world's largest proved reserves of petroleum, even bigger than Saudi Arabia's. In 2007, Venezuela's Bolivarian socialist government under President Hugo Chavez seized without compensation the assets of several private American oil production and service companies then operating in that country...In the past year, production has fallen below 1 million barrels per day, the lowest rate of production in 75 years. As a result, per capita GDP has fallen by nearly half in the past six years. Now, the Chinese government is apparently becoming reluctant to throw good money after bad. As a consequence, Chavez's hapless successor, President Nicolas Maduro, is now reportedly proposing to sell a majority stake in, and give control of the country's state-owned oil company, Petroleos de Venezuela SA, to private international oil companies. This offer may be less than tempting to Big Oil since the Bolivarian Republic still owes billions to the oil companies whose property it seized 10 years ago." 

He was, of course, referring to changing America into a Third World country and families struggling without reliable energy.


The Hill (1/30/20) reports: "Sen. Bernie Sanders (I-Vt.) this week introduced a bill that aims to ban hydraulic fracking. The bill was introduced on Tuesday and is titled "a bill to ban the practice of hydraulic fracturing, and for other purposes," according to the Library of Congress, though the text of the legislation was not available on the site. Sanders has called for a ban on fracking while campaigning for the Democratic presidential nomination, as has Sen. Elizabeth Warren (D-Mass.). Sanders tweeted about the bill, which he said was also worked on by Sen. Jeff Merkley (D-Ore.) and Reps. Alexandria Ocasio-Cortez (D-N.Y.) and Darren Soto (D-Fla.) on Thursday. Merkley was listed as a co-sponsor. The tweet included a video of actor Mark Ruffalo talking about a potential federal ban fracking."

If you oppose a carbon tax, please contact us and take a stand.

Tom Pyle, American Energy Alliance
Myron Ebell, Competitive Enterprise Institute
Phil Kerpen, American Commitment
Andrew Quinlan, Center for Freedom and Prosperity
Tim Phillips, Americans for Prosperity
Grover Norquist, Americans for Tax Reform
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Richard Manning, Americans for Limited Government
Adam Brandon, FreedomWorks
Craig Richardson, E&E Legal
Benjamin Zycher, American Enterprise Institute
Amy Oliver Cooke, Independence Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Nathan Nascimento, Freedom Partners Chamber of Commerce
Isaac Orr, Center of the American Experiment
David T. Stevenson & Clint Laird, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Mandy Gunasekara, Energy 45
Jack Ekstrom, PolicyWorks America

Energy Markets

 
WTI Crude Oil: ↑ $52.56
Natural Gas: ↑ $1.83
Gasoline: ↓ $2.48
Diesel: ↑ $2.95
Heating Oil: ↑ $165.50
Brent Crude Oil: ↑ $58.78
US Rig Count: ↑ 819

 
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