Your Morning Energy News
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MORNING ENERGY NEWS | 04/13/2020
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** Sleeping on America's energy potential.
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The Hill ([link removed]) (4/10/20) column: "In the midst of an international pandemic, and on a debate stage eerily surrounded by empty seats, Joe Biden couldn’t resist revealing his true feelings about America’s energy future. For the second time during the Democratic debate series, Biden recently told the television audience that if he’s elected president he will move to ban fracking. With an economy staggered by the virus outbreak, most Americans are looking for ways to strengthen our economy, keep people in good-paying jobs, and bolster national security. In his zest to fit in with the elite cool kids and grab a headline, Biden apparently forgot fracking has delivered all those things for us. The natural gas and oil industry supports roughly 10 million American jobs, provides $714 billion in labor income and contributes more than a $1 trillion to our GDP. The industry has innovated
with disruptive technology at warp speed."
** Biden's insane plan to ban natural gas is still not good enough for today's 'woke' crowd.
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E&E News ([link removed]) (4/13/20) reports: "The Sunrise Movement is turning its organizing muscle to down-ballot primary races now that former Vice President Joe Biden is the presumptive Democratic presidential nominee. The youth-led climate organization has not committed to working on behalf of Biden, whose climate plan it scored as an F-minus. Sunrise is keeping the option open if Biden moves to the left on climate. But in the meantime, the group is reaching into its outsider's toolbox by organizing campaigns against centrist Democrats and waging protests, which first catapulted the Sunrise Movement onto the national stage. 'When we laid out our strategy earlier this year, we said that no matter who wins this fall, in 2021 it is essential that we ignite a series of mass action — and not cooperation — to enact a decade of the Green New Deal,' said Sunrise's co-founder and executive director, Varshini Prakash, last week on a conference
call. 'We knew this was never going to be one bill or one moment; it was going to be a period of prolonged struggle,' she said. 'That hasn't changed.'"
** "The goal should be to use America’s indigenous energy to the advantage of the production economies of the Midwest, the Great Plains, Texas and the mid-south that are critical to American competitiveness and security and to every American’s standard of living."
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– Joel Kotin, The Urban Reform Institute ([link removed])
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Congratulations, Travis!
** Politico ([link removed])
(4/10/20) reports: "Travis Fisher, an economic adviser to FERC Commissioner Bernard McNamee, will join the Electricity Consumers Resource Council as President and CEO, the industrial consumer advocacy group announced Thursday. Before his role at FERC, Fisher oversaw the DOE's high-profile grid resilience study, and before that worked at the Institute for Energy Research, a fossil fuel-backed research group."
Trudeau's novel plan of taxing Canada out of a pandemic fueled recession.
** Lake Superior News ([link removed])
(4/9/20) column: "Last week, in the middle of the COVID-based recession, Prime Minister Trudeau confirmed that his government will go ahead with its plan to raise the carbon tax by 50%. This is not an appropriate response to the current crisis. Canadian firms exposed to the carbon tax – particularly those in the energy sector – already face federal disincentives, and this tax hike just adds to it. Last week, Prime Minister Trudeau announced that his government will proceed with its planned 50 percent carbon tax increase, ignoring the fact that many Canadian industries are struggling mightily due to the COVID-based recession. During a recent press conference, he said the federal carbon-pricing system, which includes annual rebates to Canadians ranging from $300 to $600, has been designed to 'put more money in household pockets.' This justification reflects a worrying misunderstanding of the nature of this recession and the solutions needed to recover. Stabilizing income for families and
businesses is vital for the economy to recover, but transferring income (in this case, carbon tax rebates) to households to 'stimulate' spending is not an appropriate response given the source of the economic crisis."
Energy Markets
WTI Crude Oil: ↑ $23.08
Natural Gas: ↑↓ $2.73
Gasoline: ↓ $1.86
Diesel: ↓ $2.53
Heating Oil: ↓ $97.12
Brent Crude Oil: ↑ $31.59
** US Rig Count ([link removed])
: ↓ 581
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