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MORNING ENERGY NEWS | 7.1.2019
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** It's funny how these things reverberate in the most predictable fashion—unless you live in the Empire State.
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National Review ([link removed]) (6/28/19) column: "In response to the ongoing blockade of the pipelines, two of New York’s biggest gas utilities, Consolidated Edison and National Grid, have said they will quit providing new gas connections to customers in their service areas in and around New York City. As I show in a new report for the Manhattan Institute, about 800,000 New Yorkers are now living in communities subject to gas-hookup moratoriums. About 300,000 New Englanders are facing the same predicament...The shortage of natural gas means higher energy costs. In January, about two weeks after Con Ed announced a moratorium on new gas connections in southern Westchester County, the utility announced it would be seeking an 11 percent hike in residential natural-gas rates and a nearly 6 percent
increase in residential electricity rates. Those increases will be added to the state’s already high energy prices. In 2018, residential electricity customers in New York were paying about 18.5 cents per kilowatt-hour, while average U.S. residential customers were paying about 12.9 cents. Thus, New Yorkers are paying about 44 percent more for electricity than the national average."


** "Congress should move quickly to impose a so-called 'carbon tax.' It’s an effective strategy for speeding up efforts to reduce greenhouse gas emissions."
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– D ([link removed]) on Gale, Salt Lake Tribune ([link removed])

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Energy privation for thee, but not for me.

** T ([link removed])
** oronto Sun ([link removed])
(6/29/19) reports: "The majority of Canadians support battling climate change but don’t want to cough up more than $200 a year in carbon tax. Think-tank SecondStreet.org hired polling company Nanos Research to conduct the poll that found 47.5% of Canadians are willing to pay $100 or less a year in carbon tax. Another 7.7% would pay $101-$200 annually. If the 13.1% of respondents who answered 'unsure' are excluded from the results 54.7% of Canadians are not willing to pay over $100 for the tax. One thousand Canadians 18 or older participated in the survey. Most past polls on the carbon tax have studied whether or not Canadians supported a carbon tax, but not how much money they’re willing to put where their mouths are."

Mmm, gotta love those corporate divi—I mean carbon dividends. This is all about carbon!

** E&E News ([link removed])
(6/28/19) reports: "Americans for Carbon Dividends has brought on a new senior official to beef up its push for a carbon tax. Steve Rice started this month as a managing director at the group, which is the advocacy arm of the Climate Leadership Council, a business- and Republican-backed project backing a tax on carbon dioxide emissions that would be refunded to taxpayers that was authored by former Republican Cabinet officials James Baker and George Shultz. Rice worked most recently as director of political mobilization at Boeing Co. and previously at public affairs firms DDC and Mercury Public Affairs...The 'carbon dividend' plan has support from many corporations, including Exxon Mobil Corp., Royal Dutch Shell PLC, Unilever, BP PLC and Ford Motor Co."

Yessiree, it's all about carbon...

** E&E News ([link removed])
(6/25/19) reports: "Alex Flint, the [Alliance for Market Solutions] executive director, painted a mixed picture of the current landscape. He said it's positive that Republicans have started to talk more about climate change but warned it's going to take time for them to coalesce around responses. 'Republicans who now acknowledge climate change are at the beginning of working to identify solutions,' he said. 'There's not a simple answer that's been hiding. There are difficult solutions that require political consensus.' Flint added that it's his belief that a carbon tax ultimately will be the winner because of its ability to address both climate change and the federal government's long-term fiscal health. 'While climate change is an immense issue, there is another issue that will also drive climate change policy in the coming decade: the fact that our country is facing $1 trillion/year deficits on $3.5 trillion in annual tax revenue,' Flint wrote in an email. 'It's why we've taken on this
heavy lift of convincing Republicans to address climate change with a revenue-neutral carbon tax.'"

Do you hear that? It's the sound of California's middle-class mass exodus.

** B ([link removed])
** loomberg Government (https:[link removed])
(6/28/19) reports: "California's nation-leading gas prices are set to climb even higher Monday, when the state gas tax increases another 5.6 cents a gallon. It's the latest increase from a 2017 law designed to raise about $5 billion a year for road and mass transit programs. A 12 cent-per-gallon boost came that November, and voters last year rejected a Republican-led effort to repeal the law. But Southern California voters did recall one Democratic lawmaker who helped pass the measure. California motorists were paying an average $3.75 per gallon as of late June, far above the national average of $2.71 calculated by AAA . The gas tax will increase to 47.3 cents a gallon July 1, according to the state Board of Equalization, and continue to increase indefinitely starting next year to keep up with the California Consumer Price Index."

Dems allocate 7 minutes to "the greatest challenge of our time..."

** T ([link removed])
** hink Progress ([link removed])
(6/28/19) column: "The first two Democratic debates featured more mentions of climate change than the 2016 presidential election, but advocates say that isn’t enough. Following Thursday night’s debate, many are renewing calls for a dedicated climate debate that would prioritize the issue, something they argue did not happen this week. Seven minutes were devoted to climate change during Wednesday’s debate — the first of two in the first round of Democratic primary debates. That alone was more than the entirety of the 2016 debates, but still significantly less than other issues, like health care or immigration."

Energy Markets


WTI Crude Oil: ↑ $59.94
Natural Gas: ↑ $2.31
Gasoline: $2.72

Diesel: $3.00
Heating Oil: ↑ $197.74
Brent Crude Oil: ↑ $66.29
** US Rig Count ([link removed])
: ↑ 1005



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