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DAILY ENERGY NEWS | 04/16/2020
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** Obama Judge shuts down American jobs on Keystone XL.
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Associated Press ([link removed]) (4/16/20) reports: "A U.S. judge canceled a key permit Wednesday for the Keystone XL oil pipeline that’s expected to stretch from Canada to Nebraska, another setback for the disputed project that got underway less than two weeks ago following years of delays. Judge Brian Morris said the U.S. Army Corps of Engineers failed to adequately consider effects on endangered species such as pallid sturgeon, a massive, dinosaur-like fish that lives in rivers the pipeline would cross. The ruling, however, does not shut down work that has begun at the U.S.-Canada border crossing in Montana, according to attorneys in the case. Pipeline sponsor TC Energy will need the permit for future construction across hundreds of rivers and streams along Keystone’s 1,200-mile (1,930-kilometer) route...The Keystone authorization came under a so-called nationwide permit issued by the Corps in 2017, essentially giving blanket approval to pipeline or
similar utility projects with minimal effects on waterways. The cancellation could have broader implications because it appears to invalidate dredging work for any project authorized under the 2017 permit, said attorney Jared Margolis with the Center for Biological Diversity, another plaintiff in the case. It’s unclear what projects would be included."
** "Credit to Mr. Trump for using U.S. global influence to mitigate the mayhem. Russia and Saudi Arabia have agreed to take on the bulk of the cuts. "
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– Wall Street Journal Editorial Board ([link removed])
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No pot of gold at the end of this rainbow.
Bloomberg (4/15/20) reports: "Ireland’s new coalition government said Wednesday that it would increase carbon taxes, but vowed not to raise income taxes or social contributions. The new government, a 'grand alliance' between Fine Gael and Fianna Fail, made the pledge in a document outlining ten key policy promises including no cuts to welfare rates. The promises came despite the need for spending on coronavirus-related containment measures and an expected economic downturn. The International Monetary Fund said in a report published Tuesday that it expected the Irish economy to shrink by 6.8%, as the world faces the worst downturn since the Great Depression. Tax revenue in March fell by nearly 1billion euros ($1.1billion) from a year earlier, a decline of more than 20%, the government said."
Good news: only 1.5 pandemics per year to mean Paris goals!
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Models aren't so pretty without the makeup.
** E&E News ([link removed])
(4/15/20) reports: "A vocal set of conservative critics have increased their attacks recently on the data modeling behind the novel coronavirus response, and they claim — despite scientific evidence to the contrary — that the flaws also prove the limits of climate change forecasts. The group, which includes federal lawmakers, climate science deniers and conservative pundits with close White House connections, has even called for congressional hearings into the coronavirus modeling. That's in spite of assurances from public health officials that better-than-expected U.S. death estimates for COVID-19 are because millions of Americans responded to pleas for social distancing. The most-used model now forecasts 60,000 U.S. deaths rather than 100,000 or more. 'After #COVID-19 crisis passes, could we have a good faith discussion about the uses and abuses of 'modeling' to predict the future?' Sen. John Cornyn (R-Texas) tweeted. 'Everything from public health, to economic to climate predictions. It
isn't the scientific method, folks.'"
Energy Markets
WTI Crude Oil: ↑ $20.09
Natural Gas: ↑ $1.61
Gasoline: ↓ $1.83
Diesel: ↓ $2.48
Heating Oil: ↑ $95.08
Brent Crude Oil: ↓ $28.66
** US Rig Count ([link removed])
: ↓ 556
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