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DAILY ENERGY NEWS | 04/08/2020
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** The dismantling of Agenda 21 should be the top priority for Agenda Trump II.
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E&E News ([link removed]) (4/8/20) reports: "Several major international institutions, including the United Nations, have called on world leaders to use the novel coronavirus pandemic as an opportunity to rebuild the global economy with climate change in mind. But observers said there are few signs so far that these leaders are listening. And they blame a broad breakdown in multilateral cooperation. The U.N., World Bank, International Monetary Fund and International Energy Agency all have advocated for economic recovery efforts that would help bend the curve toward permanently lower levels of greenhouse gas emissions. IEA Director Fatih Birol, for example, said clean energy should be 'at the heart of stimulus plans to counter the coronavirus crisis.' That suggestion was echoed by U.N. Secretary-General António Guterres, who pledged to advocate for economic recovery packages designed to leave the world 'more resilient in the face of pandemic,
climate change and the many other global challenges we face.'"


**
"The radical green-energy agenda is dangerous and will serve only to hurt the very communities Democrats purport to defend. "
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– Ken Blackwell, American Thinker ([link removed])

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America doesn't need to be part of the authoritarian oil gang to understand how supply and demand works.

** Reuters ([link removed])
(4/7/20) reports: "Saudi Arabia, Russia and allied oil producers will agree to deep cuts to their crude output at talks this week only if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis. However, the U.S. Department of Energy noted in a statement on Tuesday that U.S. output is already falling without government action, in line with the White House’s insistence that it would not intervene in the private markets. That decline, however, would take place slowly, over the course of the next two years...'With regards to media reports that OPEC+ will require the United States to make cuts in order to come to an agreement: The EIA report today demonstrates that there are already projected cuts of 2 (million bpd), without any intervention from the federal government,' the U.S. Energy Department said."

The swamp strikes back.

** Bloomberg ([link removed])
(4/7/20) reports: "The EPA overcorrected when it scrapped an entire Obama-era climate regulation in response to a court order focused on just part of the rule, the D.C. Circuit said. The Tuesday ruling is a win for the Natural Resources Defense Council and a coalition of states that challenged the Environmental Protection Agency’s decision to eliminate Obama-era restrictions on hydrofluorocarbons. One state called it “an important victory in the fight against climate change.” The U.S. Court of Appeals for the District of Columbia Circuit agreed with the challengers that the EPA shouldn’t have fully tossed the 2015 restrictions on HFCs, powerful greenhouse gases that are used in air conditioning, refrigeration, and other products. The agency made the move in 2018, without involving the public, after the D.C. Circuit struck down a portion of the restrictions."

America building for the future.

** E&E News ([link removed])
(4/7/20) reports: "A Canadian company said yesterday that it has started construction on the long-stalled Keystone XL oil sands pipeline across the U.S.-Canada border despite calls from tribal leaders and environmentalists to delay the $8 billion project amid the coronavirus pandemic. A spokesman for TC Energy Corp. said work began over the weekend at the border crossing in northern Montana, a remote area with sprawling cattle ranches and wheat fields. About 100 workers are involved initially, but that number is expected to swell into the thousands in coming months as work proceeds, according to the company. The 1,200-mile pipeline was proposed in 2008 and would carry up to 830,000 barrels of crude daily for transfer to refineries and export terminals on the Gulf of Mexico. It's been tied up for years in legal battles, and several court challenges are still pending, including one that's due before a judge next week. TC Energy's surprise announcement last week that it intended to start
construction came after the provincial government in Alberta invested $1.1 billion to jump-start work."

Energy Markets


WTI Crude Oil: ↑ $24.45
Natural Gas: ↑ $1.88
Gasoline: ↓ $1.90

Diesel: ↓ $2.55
Heating Oil: ↑ $102.98
Brent Crude Oil: ↑ $32.00
** US Rig Count ([link removed])
: ↓ 622



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