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MORNING ENERGY NEWS  |  02/18/2020
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He could have flushed away all 130 billion and it still wouldn't have been enough for the Greens.


NPR (2/17/20) reports: "Amazon CEO Jeff Bezos announced Monday he is committing $10 billion to fight climate change, which he calls 'the biggest threat to our planet.' Bezos says the funds will go toward the creation of the Bezos Earth Fund. 'This global initiative will fund scientists, activists, NGOs — any effort that offers a real possibility to help preserve and protect the natural world,' he writes in an Instagram post. 'I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet.' But some Amazon workers, deeply critical of their employer's own environmental record, say it is Amazon itself that has been complicit in the climate crisis and must change its ways. 'We applaud Jeff Bezos' philanthropy, but one hand cannot give what the other is taking away,' Amazon Employees For Climate Justice said in a statement in response to the pledge. 'When is Amazon going to stop helping oil & gas companies ravage Earth with still more oil and gas wells? When is Amazon going to stop funding climate-denying think tanks like the Competitive Enterprise Institute and climate-delaying policy?'"

"For 500 heart-pounding miles these fierce competitors will chase the checkered flag ... and make their play for pure American glory, and that’s what it is, pure American glory."

 

–Donald J. Trump,
Grand Marshall of the Daytona 500

The next step in unleashing American energy.


The Epoch Times (2/17/20) reports: "President Donald Trump’s efforts to streamline, accelerate and modernize the environmental review process could curtail abusive litigation practices that undermine economic development and jeopardize national security, according to congressional figures and energy policy analysts. The 50-year-old National Environmental Policy Act, which has not been revised since 1986, has been weaponized by anti-development groups to delay vital federal infrastructure projects and exploited to serve as a tool for excessive litigation to the detriment of America’s military readiness, they argue...While NEPA was initiated with good intentions, the time for reform is 'long overdue,' since it puts the United States at a competitive disadvantage, David Kreutzer, a senior economist with the Institute for Energy Research based in Washington, explained in an email. 'Anti-development groups weaponized NEPA long ago to unconscionably delay important infrastructure projects,' he said. 'While countries like Canada, Germany, and Australia approve most projects within two years, NEPA approval in the U.S. averages more than six years for certain projects and in some cases, the NEPA approval takes well over a decade. It’s time to end regulatory abuse that squanders taxpayer dollars and delays needed projects, while adding little to environmental quality.'"

This is what Big Green, Inc. looks like in action. An orchestrated effort to take away affordable energy from American families. 


Bloomberg (2/18/20) reports: "California cities are leading a charge for all-electric buildings as promoters push for increased adoption of gas-free heating and cooking to combat climate change. Some 27 California cities, from Carlsbad in San Diego County to Santa Rosa in Sonoma County, have adopted natural gas bans or electrification building codes, according to the Sierra Club. The idea also has started to catch on in Massachusetts and elsewhere, with cities saying they are trying to meet climate goals by reducing reliance on a fossil fuel. The Sierra Club has received funding from Bloomberg Philanthropies, the charitable organization founded by Michael Bloomberg...The natural gas industry says consumers would pay more if they relied solely on electricity. The American Gas Association estimates mandated residential electrification would increase the average residential household energy-related costs—including amortized appliance and electric system upgrade costs and utility bill payments—between $750 and $910 per year. Public Service Electric and Gas Co. and Southern California Gas Co. are among AGA’s members."

Energy Markets

 
WTI Crude Oil: ↓ $51.05
Natural Gas: ↑ $1.94
Gasoline: ↑ $2.44
Diesel: ↓ $2.87
Heating Oil: ↓ $166.18
Brent Crude Oil: ↓ $56.43
US Rig Count: ↓ 807

 
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