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MORNING ENERGY NEWS | 05/22/2020
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** "The idea of doing anything - which as you know, always leads to something - cuts into the nothing and then forces me to have to drop everything.”
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The Daily Signal ([link removed]) (5/21/20) column: "Sometimes the preferred policy solution is to do nothing at all. Take the oil industry, for instance, where many of the proposals from federal and state policymakers would have done far more harm than good by distorting markets and harming consumers. America’s oil producers are by no means out of the woods yet, but the improved outlook offers a lesson in policy patience. When COVID-19 caused a significant drop in travel and production of goods, oil prices plummeted...As the American Energy Alliance and Heritage Action for America noted in a statement of principles document, 'Broad government-mandated production cuts would hit indiscriminately, forcing cuts from both efficient and inefficient wells or producers, thus propping up weaker players and disrupting the
functioning of the oil industry at precisely the moment when it needs to be at its competitive best.' Beyond the immediate adverse effects, more intervention would have long-lasting negative effects on the energy markets by giving the government more control over how resources are allocated. Decisions that should be left to the private sector and determined by price signals would instead be decided by the federal government. In fact, we already see those problems in one form or another with government ownership of natural resources on federal lands and waters."


**
"Americans, by overwhelming majorities, were not willing to sacrifice their livelihoods for the climate before they were put through the ordeal of COVID-19 lockdowns, and they certainly aren’t now."
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– Bonner Cohen, Ph. D., CFACT ([link removed])

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Notice it's the left hand.

** The Economist ([link removed])
(5/21/20) reports: "Following the pandemic is like watching the climate crisis with your finger jammed on the fast-forward button. Neither the virus nor greenhouse gases care much for borders, making both scourges global. Both put the poor and vulnerable at greater risk than wealthy elites and demand government action on a scale hardly ever seen in peacetime. And with China’s leadership focused only on its own advantage and America’s as scornful of the World Health Organisation as it is of the Paris climate agreement, neither calamity is getting the co-ordinated international response it deserves."

How about eliminating the PTC instead of all this?

** E&E News ([link removed])
(5/22/20) reports: "Ohio yesterday unanimously approved the Icebreaker wind farm, North America's first offshore freshwater project, planned for just off the Cleveland shore in Lake Erie. The ruling by Ohio's Power Siting Board came a decade after plans for the project began to take shape and is contingent on a series of nearly three dozen conditions to be satisfied before, during and after construction. The order also is a milestone for Lake Erie Energy Development Corp. (LEEDCo), a Cleveland-based public-private partnership that's developing the project with partner and investor Fred. Olsen Renewables of Norway...It is partially funded through Department of Energy grants and involves six turbines rising almost 500 feet above the lake that would generate about 75,000 megawatt-hours of energy per year to be sold into the grid operated by PJM Interconnection LLC. As originally proposed, Icebreaker was to be operational by the fall of 2017. The latest deadline cited is 2022. To reach that
target, hurdles must be overcome such as ensuring turbines can withstand the force of ice floes during winter."

It's an SUV's world and EVs are just living in it.

** Carithargater ([link removed])
(5/21/20) reports: "Trends come and go. Affordable big-screen TVs and craft beer are welcome to remain. Small-plate eating places and leisure fits? We’ll reside once they’re gone. Last 12 months within the United States, S.U.V.s outsold sedans two to at least one, a development years within the making that consultants count on will solely develop. For almost 20 years, the Toyota Camry was the best-selling passenger car within the United States. (Pickup vans are a unique class and gross sales stratosphere, with the highest three slots going to Ford’s F-Series, Fiat Chrysler’s Ram and Chevrolet’s Silverado.) In 2019, Toyota’s RAV4 sport utility took the passenger crown with almost 450,000 bought, placing it in fourth place over all behind the pickups, in accordance with Car Sales Base. Next have been the Honda CR-V at over 384,000 gross sales; Nissan’s Rogue and Rogue Sport, combining for 350,500; and the Chevy Equinox at 346,000. The first sedan on the gross sales listing, the Camry,
confirmed up at No. 8, simply shy of 337,000. 'S.U.V.s made up 47.4 percent of U.S. sales in 2019 with sedans at 22.1 percent,' mentioned Tom Libby, automotive analyst at IHS Markit. 'By 2025, we see the light-truck segment that includes S.U.V.s, vans and pickups to make up 78 percent of sales compared to 72 percent now.'"

If you oppose a carbon tax, please ** contact us and take a stand (mailto:[email protected]?subject=Carbon%20Tax%20list)
.

Tom Pyle, American Energy Alliance
Myron Ebell, Competitive Enterprise Institute
Phil Kerpen, American Commitment
Andrew Quinlan, Center for Freedom and Prosperity
Tim Phillips, Americans for Prosperity
Grover Norquist, Americans for Tax Reform
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Richard Manning, Americans for Limited Government
Adam Brandon, FreedomWorks
Craig Richardson, E&E Legal
Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Nathan Nascimento, Freedom Partners Chamber of Commerce
Isaac Orr, Center of the American Experiment
David T. Stevenson & Clint Laird, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America

Energy Markets


WTI Crude Oil: ↓ $32.90
Natural Gas: ↓ $1.69
Gasoline: ↑ $1.94

Diesel: ~ $2.41
Heating Oil: ↓ $97.89
Brent Crude Oil: ↓ $34.93
** US Rig Count ([link removed])
: ↑↓ 339



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