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MORNING ENERGY NEWS | 8.14.2019
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E&E News ([link removed]) (8/14/19) reports: "It's not every day that a clean energy company complains about climate change laws. And yet, that's exactly what fuel cell maker Bloom Energy Corp. is doing as its shares plummet to all-time lows. Bloom executives, during a second-quarter earnings call late Monday, forecast flat revenue in 2020 and cast at least part of the blame on clean energy laws in California and New York, two of the company's stronger markets. The laws — committing the states to 100% carbon-free electricity by 2045 and 2040, respectively — have confused Bloom customers and caused them to delay orders, said Chief Executive Officer K.R. Sridhar...The laws can be a problem for Bloom because its cells typically run on natural gas, although they can be configured to run on hydrogen or bio gas. When using natural gas, Bloom's fuel cells do produce global warming emissions, but the emissions are lower than those from gas-burning
turbines in standard power plants, according to the company."
** "And then all of a sudden [the wind] stops. The wind and the televisions go off. And your wives and husbands say ‘Darling, I want to watch Donald Trump on television tonight. But the wind stopped blowing and I can’t watch. There’s no electricity in the house, darling.'"
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– President Donald J. Trump ([link removed])
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In case you needed a reminder on the amazing benefits of commercial flight.
** BBC ([link removed])
(8/13/19) reports: "Climate change activist Greta Thunberg will spend two weeks traveling across the North Atlantic on a boat with no toilets, kitchens or privacy. Greta, 16, has stopped flying due to environmental reasons, but is due to attend a crucial climate change conference in New York. She told the BBC that traveling by boat sends a signal that 'the climate change crisis is a real thing.'"
Think there will be any takers?
** ([link removed])
Your daily reminder communism and energy abundance are mutually exclusive.
** Real Clear Politics ([link removed])
(8/14/19) column: "The world is a complicated place. Most people don’t associate the devastation of Venezuela by communist leader Nicolas Maduro with China, yet Venezuelan oil lies at the heart of China’s interests and as a result, they have been propping up the murderous South American leader. Shockingly, Venezuela has the largest known reserves of oil in the world, and in 1950 had the fourth largest Gross Domestic Product in the world and second highest GDP per capita. Venezuela’s economy was six times the size of China, and as late as 1982, they were still the largest GDP in South America. However, by 2017 Venezuela’s per capita GDP had shrunk back to levels last seen at the turn of the century, and they continue to shrink in spite of its impressive oil reserves."
T.V. really did a number on this generation's expectations of the legal system.
** The Hill ([link removed])
(8/13/19) column: "Cute kids and climate change make for compelling headlines. But the case of Juliana v. United States is a little too cute for the Constitution and a whole lot too complex for the courts. After a hearing before a three-judge panel in June, the U.S. Court of Appeals for the Ninth Circuit is presently considering whether to allow a novel case to proceed to trial where a group of children are ambitiously asserting that the federal government is violating their rights by not enacting better policies to deal with climate change. Quite simply, these plaintiffs in the Juliana case are asking the judicial branch to tell the elected branches what policies to adopt. Such relief would pervert the courts and deform the Constitution"
Energy Markets
WTI Crude Oil: ↓ $56.10
Natural Gas: ↑ $2.18
Gasoline: ↓ $2.64
Diesel: ↓ $2.95
Heating Oil: ↓ $186.20
Brent Crude Oil: ↓ $60.45
** US Rig Count ([link removed])
: ↓ 962
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