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MORNING ENERGY NEWS | 04/01/2020
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** You caught us. Our subject line was 100 percent false and defamatory.
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Politico ([link removed]) (2/26/20) reports: "President Donald Trump’s reelection campaign filed a libel lawsuit against The New York Times on Tuesday, claiming an op-ed that appeared in the paper last year defamed the president by falsely suggesting there had been a conspiracy between his 2016 operation and Russian agents...The suit argues that the op-ed contradicts reporting published by the Times’ news division on the investigation into whether the Trump campaign conspired with Russian agents to interfere in the election...In a statement, the campaign’s senior legal adviser, Jenna Ellis, asserted that Frankel’s assertions 'were and are 100 percent false and defamatory,' and that the Times published his piece knowing their inaccuracy 'for the intentional purpose of hurting the campaign, while misleading its own readers in the process.'"
** "Too many reporters fail to mention one very important point: the Obama era CAFÉ standards were not attainable by the auto industry. The truth is, the SAFE rule sets realistic standards, will reduce pollution, and save lives!"
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–Andrew Wheeler, EPA Administrator ([link removed])
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Here's an idea that can stay in the trash.
** Reuters ([link removed])
(3/31/20) reports: "Top U.S. officials have for now put aside a proposal for an alliance with Saudi Arabia to manage the global oil market, according to three sources with knowledge of the matter, an idea one of them said came from White House national security advisers. That the concept was even considered at high levels reflects both the depth of the crisis facing the global oil industry as well as its growing importance to the U.S. economy. A few weeks ago, proposals for Washington to work together with oil producers to curb supply to the global market would have been dismissed for violating U.S. antitrust laws...Trump has taken a dim view of OPEC in the past, calling it a monopoly that pushes oil prices 'artificially high' by cutting production, and often urged it to raise output."
All the epidemiologists agree, raising the gas tax would be instrumental in battling COVID-19.
** Bloomberg ([link removed])
(3/31/20) reports: "Industries that missed out on the largest stimulus bill in U.S. history are already lobbying to ensure they get a piece of the next one. Restaurant owners are asking Congress for a new insurance program to cover pandemic-related losses. Hotel operators are pleading for larger loans. Renewable power developers want money to keep solar installers on the job. And the U.S. Chamber of Commerce is pitching its initiative to rebuild roads and bridges. It’s a lobbying frenzy stoked by the $2 trillion spending bill signed by President Donald Trump on Friday to blunt economic damage from the coronavirus pandemic. Lawmakers have made it clear further help is likely. The next stimulus bill should be heavy on infrastructure spending with the construction season approaching, and it should include raising the federal gas tax to pay for it, said Ray LaHood, a Republican and former transportation secretary under President Barack Obama who promotes infrastructure funding through the
Building America’s Future coalition. 'It’s got to be big, it’s got to be bold,' LaHood said."
You don't need to be a nuclear scientist to see that industry pitching in will help more than a federal tax increase.
** NEI ([link removed])
(3/31/20) blog: "Patrick O’Brien and members of his team at Holtec Pilgrim Nuclear Power Station in Plymouth, Massachusetts, were digging through the plant’s warehouse in search of any stockpiled materials that might aid those impacted by the coronavirus pandemic. After some time, the team struck gold when they uncovered more than 2,000 face masks and 14,000 nitrite examination gloves. 'A large number of our team members have friends and family in the medical industry, including my mom who is a nurse,' O’Brien explained. 'With the plant beginning decommissioning, the needs for what we have stored on-site have changed and we wanted to make available what we could.' After ensuring that Pilgrim already had adequate supplies to protect their employees, Holtec and Comprehensive Decommissioning International—where O’Brien is communications and government affairs manager—made the donation of masks and examination gloves to the community’s local hospital, Beth Israel Deaconess Medical Center."
The Green New Deal wasn't conceived in February of 2019, it just got a new tagline.
** E&E News ([link removed])
(4/1/20) reports: "President Trump started comparing President Obama's clean car standards to the Green New Deal — a rhetorical shift that reflects the Republican Party's broader criticisms of progressive climate plans. Trump made the comparison yesterday afternoon after his administration finalized its rollback of the clean car standards established by Obama in 2012. 'My Administration is helping U.S. auto workers by replacing the failed Obama Emissions Rule. Impossible to satisfy its Green New Deal Standard; Lots of unnecessary and expensive penalties to car buyers!' the president said on Twitter...Those statements came as Republicans have increasingly singled out the Green New Deal to describe Democrats and climate advocates as radical environmentalists. Several Republican lawmakers accused their Democratic colleagues of seeking to inject elements of the Green New Deal into the third coronavirus relief package."
Energy Markets
WTI Crude Oil: ↑ $20.59
Natural Gas: ↑ $1.65
Gasoline: ↓ $1.98
Diesel: ↓ $2.59
Heating Oil: ↓ $97.44
Brent Crude Oil: ↓ $25.48
** US Rig Count ([link removed])
: ↓ 706
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