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MORNING ENERGY NEWS  |  05/06/2020
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Looking at the state of America's air, there is no doubt they'll be taking this all the way back.


Washington Times (5/4/20) reports: "Harvard researchers publicly walked back Monday a key finding in a highly touted but hotly contested paper linking air pollution exposure to deaths from the novel coronavirus, slashing the estimated mortality rate in half. The preliminary study by researchers at the Harvard T.H. Chan School of Public Health made a splash when the results were announced April 7 in The New York Times, prompting alarm on the left as Democrats sought to connect COVID-19 deaths to the Trump administration’s regulatory pushback. A few weeks later, however, its researchers quietly backtracked from their finding that people who live for decades in areas with slightly more particulate matter in the air are 15% more likely to die from the coronavirus, lowering the figure to 8%. The press release was revised Monday."

"Big wind does not have a COVID problem. It has a mismanagement problem."

 

– Lisa Linowes,
The Wind Action Group 

The Greek Isles are open for drilling. 


E&E News (5/6/20) reports: "Greek lawmakers approved a controversial environmental bill yesterday that the opposition and environmental groups slammed for opening the door to exploratory oil and gas drilling in protected areas. Lawmakers voted 158-56 for the bill, with 214 of parliament's 300 members voting. Most cast their ballots by mail due to social distancing measures that limit the number of people in the plenary hall. The center-right government has argued the legislation, which covers a wide array of subjects in its 130 articles, will help to protect the environment while also ensuring sustainable development and to end the country's dependence on coal.
The new environmental regulations finally set clear rules for [environmental] protection, but at the same time they are the drivers behind a quick and, above all, sustainable development,' Prime Minister Kyriakos Mitsotakis said in his speech, adding that much of the criticism directed at the government was unjustified."

The E.U. doesn't seem to be enjoying their extended trial of full-on climate communism.


Reuters (5/6/20) reports: "Euro zone business activity almost ground to a halt last month as government-imposed lockdowns to stop the spread of the coronavirus forced factories to shut, shops and restaurants to close and recreational pursuits to cease, a survey showed....'The extent of the euro area economic downturn was laid bare by record downturns in every country surveyed in April, with output falling at unprecedented rates across the region’s manufacturing and services sectors,' said Chris Williamson, chief business economist at IHS Markit. 'With a large part of the region’s economy shut down while COVID-19 infections spiked higher, the economic data for April were inevitably going to be bad, but the scale of the decline is still shocking.' Demand all but dried up as consumers concerned about their health and job prospects stayed home and stopped spending despite firms cutting prices at one of the steepest rates in the survey’s history."

As good of a time as any.


Williston Herald (5/5/20) reports: "A bipartisan coalition of oil state senators led by North Dakota Republican Sen. John Hoeven and Alabama Democratic Sen. Doug Jones has introduced an emergency measure in the Senate that would provide $3 billion in funding to purchase American crude oil for the Strategic Petroleum Reserve. Hoeven’s coalition includes Sen. Kevin Cramer, R-N.D., as well as Republican Sens. John Cornyn and Ted Cruz of Texas, Lisa Murkowski and Dan Sullivan of Alaska, Jim Inhofe of Oklahoma, John Barrasso of Wyoming, and Roger Wicker of Mississippi. Hoeven said the benefits of the measure are two-fold. 'Oil and gas producers in North Dakota and across the nation provide essential support for our economy and are vital to our national security,” he said. “I’m leading this bipartisan, bicameral legislation because it will not only support our energy industry but benefit American taxpayers with greater economic and national security. We need to pass this legislation to fund the purchase of U.S. crude for the SPR, which will help relieve supply pressures and support a vital U.S. industry and its workers.'" 

Energy Markets

 
WTI Crude Oil: ↓ $23.56
Natural Gas: ↓ $2.01
Gasoline: ↑ $1.79
Diesel: ~ 2.42
Heating Oil: ↓ $87.13
Brent Crude Oil: ↓ $30.13
US Rig Count: ↓ 390

 
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