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MORNING ENERGY NEWS  |  02/24/2020
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The  Dems' plans to criminalize energy production should concern all of us.


Western Energy Alliance (2/24/20) blog: "In an open letter to 2020 Democratic presidential candidates printed in today’s New York Times, 54 executives from the western oil and natural gas industry forcefully pushed back against months of claims that they are corrupt criminals who should be jailed. The full-page advertisement placed by Western Energy Alliance, an oil and natural gas trade association, responds to statements that have gone unchallenged by Sen. Bernie Sanders, Vice President Joe Biden and Sen. Elizabeth Warren by explaining the environmental and life-sustaining benefits of oil and natural gas...The ad comes ahead of Super Tuesday on March 3rd, when 14 states hold their primaries, including major producers California, Colorado, Oklahoma, Texas and Utah...The full-page ad features a young boy studying by lantern light, one of the billion people worldwide who lack access to affordable, reliable electricity. Exports of American natural gas could help him and others suffering from energy poverty raise their standard of living. According to a recent report by the International Energy Agency, the United States again leads the world in reducing greenhouse gas emissions, largely because of increased natural gas electricity generation."

"From banning fracking to eliminating leasing on federal lands, the agenda of these candidates would not only kill millions of jobs in the United States, but do nothing to reduce our reliance on reliable, life-sustaining energy."

 

– Kathleen Sgamma,
Western Energy Alliance

The states that are already concerned should be a major concern for the Dems if they want to win the White House. 


Associated Press (2/20/20) reports: "The notion of banning fracking is dividing the Democrats running for president and increasingly dividing Democrats in the presidential battleground state of Pennsylvania, where fracking has vaulted it to the No. 2 natural gas producer behind Texas. The divide was clear, again, on Wednesday night’s debate stage in Las Vegas during questioning about climate change. Asked what he tells workers who would lose their job to a fracking ban, Vermont Sen. Bernie Sanders, a longtime fracking opponent, said he tells them that scientists are predicting irreparable damage to the world without incredibly bold action within the next six or seven years...Banning fracking is an idea that is widening fault lines between Pennsylvania’s Democrats and their traditional allies in organized labor. Pennsylvania’s top Democrats, including Gov. Tom Wolf and U.S. Sen. Bob Casey, have tried to discourage talk of a fracking ban, while labor leaders point to thousands of building trades members working on gas drilling sites, laying billions of dollars in pipelines and building massive refineries."

Why do the Greens and their Politician Puppets oppose good news for Americans?


Wall Street Journal (2/23/20) reports: "Affordable energy prices are brightening Leonore Barfield’s winter. Gasoline has dropped about 50 cents a gallon from last year near her home in the 6,000-person town of Raton, N.M.—lowering the cost of trips to restaurants, movie theaters or the closest Walmart, in neighboring Colorado. And even though cold weather has blanketed the area since October, falling natural-gas prices have helped the 63-year old retiree keep her three-bedroom home comfortably warm. 'When I get my utility bill, I don’t fall off my sofa,' she said. Ms. Barfield’s satisfaction reflects a broader trend: Some of the lowest prices for crude oil and natural gas in years are saving many Americans money...Analyzing the economic impact of cheap fuel is challenging, as costs vary widely across the country because of a combination of pipeline limitations, state and local taxes and energy companies’ pricing. The average retail gasoline price in California, for example, is more than $1 higher than the cost nationally." 

Hopefully its just the Californians on the hook for a one-way ticket to nowhere.


Los Angeles Daily News (2/15/20) column: "The California High Speed Rail Authority just issued its draft 2020 business plan, a 164-page document accompanied by four supplemental reports and eight technical reports. A shorter version is on the agency’s website in a brightly colored graphic. 'Statewide economic benefits from investments through June 2019,” it reads, “job-years of employment: 44,700 — 50,500. Labor income: $3.17 billion — $3.62 billion. Economic output: $8.3 billion — $9.2 billion.'  Notice anything missing? Like a train? Transportation is not one of the benefits of the bullet train investment, and this is starting to endanger funding for the project. The public money had certain strings attached to it. For example, there’s supposed to be a train that goes from San Francisco to Los Angeles in under three hours without a tax increase or a public subsidy...The bullet train, which was not supposed to be built with a tax increase, is being built with a hidden tax that is raising the cost of living in California. The cap-and-trade program is a slush fund, and the high-speed rail project is a train robbery. Time to cancel them both."

They pave paradise and they put up a parkin' lot....to save the earth.


Bloomberg (2/20/20) reports: "Tesla Inc. has overcome a legal roadblock standing in the way of Elon Musk’s plan to build an electric-car factory in Germany. A Berlin-Brandenburg court on Thursday ruled that Tesla can resume cutting down trees at a forest site in the small town of Gruenheide to make way for its first assembly plant in Europe. That puts the U.S. carmaker on track to start construction before the start of a crucial breeding period for local wildlife in March. The court found that local authorities didn’t violate laws when they allowed work on the factory to start, throwing out a complaint by Gruene Liga Brandenburg, an environmental group that claimed Tesla and local authorities were sidestepping regulations to rush the project...Tesla will also have to scare off or relocate wolves, bats, snakes, ants and lizards until construction is over. Under German regulations, the project must consider the breeding period for local wildlife in spring."

Energy Markets

 
WTI Crude Oil: ↓ $51.25
Natural Gas: ↓ $1.85
Gasoline: ~ $2.47
Diesel: ~ $2.87
Heating Oil: ↓ $162.29
Brent Crude Oil: ↓ $56.03
US Rig Count: ↑ 810

 
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