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MORNING ENERGY NEWS | 05/07/2020
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** If it's the last thing we ever do.
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The Hill ([link removed]) (5/6/20) reports: "Health experts say people are significantly less likely to get the coronavirus while outside, a fact that could add momentum to calls to reopen beaches and parks closed during the COVID-19 pandemic. Being outside shouldn’t be seen as completely safe, health experts say. People should continue to avoid crowds and maintain six feet of distance from others to keep away from the virus. But experts are increasingly confident in evidence showing that the coronavirus spreads much more readily indoors than outdoors, a finding that could help guide policymakers seeking to figure out ways to end lockdowns that have shuttered much of the nation’s economy. 'Parks, beaches — as long as they're not cheek to jowl, cycling, walking, this is good,' said Tom Frieden, the former director of the Centers for Disease Control and Prevention. 'Enjoy nature. It’s good for us,
and it has very low risk of spreading the virus.'"
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** "Houston reinventing itself as a different type of energy capital isn’t inevitable. We must take care of the innovators. That means managing our natural resources in a fair way and strengthening our social safety net. Call it socialism if you want but it’s necessary to sustain our beloved free market."
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– Houston Chronicle Editorial Board ([link removed])
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Pyle enters the gauntlet and emerges victorious!
** WOSU ([link removed])
(5/6/20) interview: "The Trump administration has continued to weaken air pollution regulations despite warnings that long-term exposure to dirty air relates to higher COVID-19 death rates. Harvard researchers made the first statistical link between the two last month, just before the administration loosened some clean air regulations and failed to tighten others. Coming up on All Sides with Ann Fisher, how the recent weakening of clean air regulations affects health during COVID-19 and the future regulatory rollbacks."
Yes, but this time it's different...
** E&E News ([link removed])
(5/7/20) reports: "The world once debated whether oil wells would run dry. Now, with crude flooding the market, the debate has turned to whether oil companies can sell enough of it. If peak oil is a relic, the question now is if we've hit peak oil demand. The debate, like nearly everything these days, is stoked by the novel coronavirus. Demand has plummeted with much of the world on lockdown. Roughly a third of global oil consumption evaporated in April. The International Energy Agency estimates the world will use 9.3 million fewer barrels a day in 2020 than it did in 2017. That would bring consumption back to 2012 levels. Ben van Beurden, CEO of Royal Dutch Shell PLC, told financial analysts last week that the recent demand destruction has been so great that 'we don't even know [if] that will come back.' Oil demand will play a large role in the world's emissions trajectory. Oil consumption accounts for about a third of global carbon dioxide emissions associated with energy production, a
figure exceeded only by coal."
We gonna roll this truckin' convoy 'cross the USA!
** Bloomberg ([link removed])
(5/4/20) reports: "In all the years Chevy has sold Silverados and Ford trafficked in F-150s, few in Detroit ever dreamed the day would come that pickups would outsell passenger cars. But the highly lucrative truck segment dominated by Ford Motor Co., General Motors Co. and Fiat Chrysler Automobiles NV did just that last month. Pickups beat cars by more than 17,000 units in April, according to market researcher Autodata Corp. It’s a remarkable turn of events for an industry that’s long been reliant on trucks as cash cows, but never to this degree. Just five years ago, cars outsold pickups by more than half a million units in a single month. Detroit began ditching sedans the following year and hasn’t looked back. Full-size truck models alone were more than 40% of GM, Ford and Fiat Chrysler’s sales in April, according to Evercore ISI."
** ([link removed])
Energy Markets
WTI Crude Oil: ↑ $26.39
Natural Gas: ↓ $1.93
Gasoline: ↑ $1.81
Diesel: ~ $2.42
Heating Oil: ↑ $86.85
Brent Crude Oil: ↑ $31.61
** US Rig Count ([link removed])
: ↓ 390
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