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MORNING ENERGY NEWS  |  02/28/2020
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Trump was right yet again.


Fortune (2/27/20) reports: "The British government’s plan to build a third runway at Heathrow Airport have been ruled illegal by a U.K. court of appeal on the grounds that the plans do not take into account the country’s climate change commitments under the Paris Agreement. The government can appeal the decision, but has so far declined to do so according to the judge. The future of the project is now uncertain. U.K. Prime Minister Boris Johnson, who took office last summer, has differed from his Conservative predecessors and vocally opposed the runway. In 2015 Johnson said he would  'lie down in front of those bulldozers and stop the construction.' He may use the ruling as justification for abandoning the project...Specifically, the plans were deemed to not have shown compatibility with the U.K.’s Climate Change Act, which transposes the Paris Agreement commitments into law and promises to reduce emissions to net zero by 2050."

"Obama cannot take credit for the economic boom we are seeing under the Trump administration. It happened in spite of him, not because of him. The oil and gas boom powered the economic recovery from the Great Recession, not Obama’s attempts to stop it."

 

–Adam Brandon, FreedomWorks

You'd think the home of the 'Windy City' would have a bit more perspective on this issue.


Illinois Policy Institute (2/25/20) blog: "A new bill introduced in the Illinois General Assembly would ban the sale of gas-powered leaf blowers in Illinois retail stores and slap residents caught using them with a $500 fine. Senate Bill 3313, filed Feb. 14, would put a statewide prohibition on gas-powered leaf blowers that contain either a two- or four-stroke engine. It appears Illinois would be the first state in the nation with a blanket ban on the devices, which would take effect Jan. 1, 2022. The bill language cites leaf blowers’ effects on public health and the environment, including the risk of emissions to contribute to smog and acid rain, as well as the potential for hearing loss due to loud noise. While environmental preservation and public health protections are important concerns, the bill does not consider unintended consequences on small businesses that use efficient, gas-powered gardening tools, such as landscaping companies. For Kevin Kittoe of Oswego, Illinois, the ban could cost him his budding lawncare business. 'This is how [people] pay their bills and feed their families. This is it. This is all they have,' Kittoe said."

Go on, take the money and run.


NBC News (2/26/20) reports: "It appears Tesla has quietly moved a large number of crates and loaded pallets out of its Buffalo factory to a warehouse in Wheatfield. But neither the company nor its state government landlord has explained why. The factory, called Gigafatory 2 by Tesla, is a partnership with the state of New York. Empire State Development (ESD), which is is essentially Tesla’s Buffalo landlord. ESD bought the land and built the factory for $660.1 million. The legal agreement also calls for ESD to purchase equipment for the factory. According to state documents, the equipment cost an additional $298.5 million. The rationale for the state equipping the factory was that if the venture with Tesla failed, the state would have a turn-key operation to bring in another tenant. 2 On Your Side has learned that in recent weeks stacks of crates and loaded pallets have been moved to the Wheatfield Business Park, once the home to Bell Aerospace. Management of the business park said its policy is not to publicly discuss its customers."

I see you, CPAC.


Master Resource (2/27/20) blog: "Unlimited money can buy a lot of things, including panels at the Conservative Political Action Conference (CPAC) annual meeting, hosted by the American Conservative Union, being held this week in Washington, DC. Two of the worst panels concern a disguised plea to implement a federal carbon tax on the pretense that such a policy will 'win' the climate fight with the Left (wrong!), and rebating the carbon-tax revenue is somehow neutralizing and achievable (no and no). I was unpleasantly surprised to see not one but two sessions at CPAC where the Left-funded climate alarmists/forced energy transformationists were pushing the policy snake-oil of a carbon tax and 'dividend' program. Both panels are sponsored by a Left-funded front group, Young Conservatives for Carbon Dividends. Draped by the American flag...This case for climate activism is a tissue of fallacies, as if a US-side CO2 tax can do anything other than damage energy affordability for American and trigger a global CO2 tariff war against 'leakers.' It is exactly what the anti-energy, anti-Industrial Left wants as a beachhead for the Paris Accord and the rest of it–and what President Trump is saying 'no' to." 

With any luck, Tax-Hike Mike might just become Prison Mike.


Fox News (2/27/20) reports: "A watchdog group lodged a complaint with the IRS Wednesday arguing that billionaire presidential candidate Mike Bloomberg has used his charitable organization as a tool to build support for his presidential run, in violation of federal rules for such groups. The conservative watchdog Government Accountability & Oversight – not to be confused with the U.S. Government Accountability Office – sent a letter to IRS Commissioner Charles Rettig saying that Bloomberg and his tax-exempt charity 'may be operating in violation of the Internal Revenue Code.' 'Recent and numerous media reports lend credence to the idea that Michael Bloomberg’s charitable contributions have been and continue to be used to support his political campaign for president,' the letter, signed by the group's executive director, Matthew D. Hardin, reads...Bloomberg has been a generous donor to progressive causes for years, especially since he left his post as mayor...He boosted one NYU program that pays the salaries of experienced environmental litigators that it then farms out to state attorney general offices to pursue 'progressive' environmental issues — a move West Virginia Attorney General Patrick Morrisey said raises 'a fundamental question of ethics and who's running our government.'"

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
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: ↓ $45.78
Natural Gas: ↓ $1.69
Gasoline: ↓ $2.45
Diesel: ↓ $2.86
Heating Oil: ↓ $147.15
Brent Crude Oil: ↓ $51.12
US Rig Count: ↑↓ 1137

 
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