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MORNING ENERGY NEWS  |  02/04/2020
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Code for, we can't let the rest of the country realize how many of our people voted for the socialist.


The Hill (2/3/20) reports: "A bill introduced last week by Sen. Bernie Sanders (I-Vt.) that Rep. Alexandria Ocasio-Cortez (D-N.Y.) helped craft would ban fracking nationwide by 2025, according to its newly unveiled text. The legislation would immediately prevent federal agencies from issuing federal permits for expanded fracking, new fracking, new pipelines, new natural gas or oil export terminals and other gas and oil infrastructure. A House version of the legislation is being spearheaded by Reps. Ocasio-Cortez and Darren Soto (D-Fla.).  By Feb. 1, 2021, permits would be revoked for wells where fracking takes place and that are within 2,500 feet of a home, school or other 'inhabited structure.' The wells would be required to stop operations. Fracking for oil and natural gas would become illegal 'on all onshore and offshore land in the United States' by Jan. 1, 2025...In a statement, Ocasio-Cortez said fracking is a contributor to 'our climate emergency.' 'The science is clear: fracking is a leading contributor to our climate emergency. It is destroying our land. It is destroying our water and it is wreaking havoc on our communities' health,' Ocasio-Cortez said in the statement." 

"Fracking is a danger to our water supply. It’s a danger to the air we breathe, it has resulted in more earthquakes, and it’s highly explosive. To top it all off, it’s contributing to climate change. If we are serious about clean air and drinking water, if we are serious about combating climate change, the only safe and sane way to move forward is to ban fracking nationwide."

                             – Bernard Sanders
 

But once America bans affordable energy the rest of the world will fall in line...
 

New York Times (1/3/20) reports: "Just beyond the windows of Satsuki Kanno’s apartment overlooking Tokyo Bay, a behemoth from a bygone era will soon rise: a coal-burning power plant, part of a buildup of coal power that is unheard-of for an advanced economy. It is one unintended consequence of the Fukushima nuclear disaster almost a decade ago, which forced Japan to all but close its nuclear power program. Japan now plans to build as many as 22 new coal-burning power plants — one of the dirtiest sources of electricity — at 17 different sites in the next five years, just at a time when the world needs to slash carbon dioxide emissions to fight global warming...Together the 22 power plants would emit almost as much carbon dioxide annually as all the passenger cars sold each year in the United States...Japan’s policy sets it apart from other developed economies. Britain, the birthplace of the industrial revolution, is set to phase out coal power by 2025, and France has said it will shut down its coal power plants even earlier, by 2022. In the United States, utilities are rapidly retiring coal power and no new plants are actively under development."

How is the assault by Big Green, Inc. impacting producers in the Marcellus? Listen first hand from the people on the front lines:

Even with mandatory participation, the trash economy just hasn't taken off yet.


The Baltimore Sun (1/1/20) reports: "Baltimore County officials revealed this week that the county has not recycled glass materials for about seven years, though they are strongly urging residents to continue placing the items in their recycling bins. The revelation was first circulated Friday on the Facebook page The Towson Flyer, shocking some residents who demanded answers about why the county has continued to collect glass for recycling. Glass bottles and jars of all colors were listed as acceptable materials on the county website’s recycling collection page Saturday morning...Steve Lafferty, county sustainability officer, said it’s true the county has not recycled the material since 2013, the year it also opened a $23 million single-stream recycling facility in Cockeysville. Lafferty was hired to the newly created sustainability position in September 2019. This problem of recyclable glass being thrown out was “inherited” from a previous administration, according to Sean Naron, spokesman for County Executive Johnny Olszewski...The county is in preliminary discussions with an independent vendor about recycling glass materials, Naron said. In the meantime, county officials have been reluctant to tell residents not to recycle their glass for fear of derailing a good habit. 'It’s unfortunate that we can’t tell people we have a better solution right now,' Lafferty said. 'We know it’s an important issue.'"

🎵[Fracking] came along and everything started'in to hum 🎵


Energy In Depth (1/30/20) reports: "Successful oil and natural gas development in shale and tight formations across the country has put the United States on track to remain a net energy exporter through 2050, according to new data from the Energy Information Administration. In its latest Annual Energy Outlook, EIA projects the United States will continue to produce oil and natural gas at prolific, 'historic' rates, leading to increased exports that will continue to reshape the global energy landscape. The EIA data show the rate of development will have U.S. oil and natural gas production – already the global leader – continuing its climb to successive record levels...The data show crude oil production will continue to be driven by the Southwest, dominated by the Permian Basin in west Texas and southeastern New Mexico. Both states are coming off banner years in production, which has led to a windfall of revenue generated by taxes collected on oil and natural gas activity."

Energy Markets

 
WTI Crude Oil: ↑ $50.9668.16
Natural Gas: ↑ $1.83
Gasoline: ↓ $2.46
Diesel: ↓ $2.93
Heating Oil: ↑ $160.38
Brent Crude Oil: ↑ $54.92
US Rig Count: ↑↓ 1137

 
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