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DAILY ENERGY NEWS  |  05/11/2020
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We're getting the band back together.


Epoch Times (5/8/20) reports: "Automobile consumers stand to benefit from the Trump administration’s proposed reforms of federal fuel and emissions mandates, according to energy policy analysts and free market advocacy groups. Some of the free market groups that signed off on a coalition letter submitted to President Trump on April 6 in support of the regulatory change have argued that it does not go far enough, while environmental activists claim Trump’s proposal will jeopardize public health and safety. The American Energy Alliance, a nonprofit group based in Washington that led the free market coalition, credited the administration for finalizing a regulatory reform process that began last fall when it ended a waiver process that gave California a special role in setting standards for emissions...'The coalition members agree that the Trump administration’s proposed changes to the Obama-era expansion of the fuel economy mandate are both legally appropriate and economically necessary,' Tom Pyle, AEA’s president, told The Epoch Times."

"Inexpensive energy is necessary for economic advancement by the world’s poor and for recovery from the staggering economic effects of Covid-19. Ideological opposition to fossil fuels is an anti-human stance that views ordinary people not as problem-solving sources of ingenuity but as only mouths to feed, producing environmental damage. "

 

Benjamin Zycher,
American Enterprise Institute

Who is it?  Laaaandshark!


Houston Chronicle (5/8/20) reports: "Authorities and industry groups are warning oil companies warned about people falsely claiming to be inspectors with the Railroad Commission of Texas, the state agency that regulates the oil and natural gas industry. The Railroad Commission, the Texas Oil & Gas Association and the Texas Independent Producers & Royalty Owners Association have issued warnings to oil companies and landowers this week following a pair of incidents in West Texas involving people claiming to be inspectors. A motive was not clear but TIPRO reported in one case that a person claiming to be an inspector told an oil company operating in the Permian Basin to immediate shutdown operations until further notice. In the other case, a surveyor who did not have permission to be on a property told a landowner that he was an inspector. 'Nefarious activity in the oil patch is on the rise, including an increase in oil and equipment theft,' TIPRO President Ed Lonanecker said. 'All operators should be on alert of suspicious activity and stay in close communication with district offices to verify agency activity and for coordination with law enforcement.'"

Personal choice is always a big win.


Bloomberg (5/10/20) reports: "James Li, a public relations account director, would rather spend an hour sitting in Beijing traffic than risk 30 minutes exposed to crowds on a train. 'Traffic is as bad as it could be' but the subway is still too dicey, he said. In Frankfurt, real estate assistant Anna Pawliczek is driving to work for the first time in her career. 'I definitely have always preferred to chill out in the train, instead of being stuck at traffic lights,' she said. But days after Germany ended its lockdown, her company is asking returning employees to avoid public transportation at all costs. Gasoline demand is rebounding, suggesting that the car -- at least for now -- is making a comeback. As lockdowns ease and parts of the world reopen for business, driving has emerged as the socially distant transportation mode of choice and is offering some near-term relief to an oil market fresh off its worst crash in history and reeling from an unprecedented collapse in energy demand."

From my cold dead countertop.

Energy Markets

 
WTI Crude Oil: ↑ $24.88
Natural Gas: ↑ $1.87
Gasoline: ↑ $1.84
Diesel: ↓ $2.42
Heating Oil: ↑ $90.84
Brent Crude Oil: ↓ $30.83
US Rig Count: ↓ 376

 

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