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MORNING ENERGY NEWS | 05/26/2020
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** 'Let's get it built.'
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BBC ([link removed]) (5/26/20) reports: "A top Canadian official has said this is a "great time" to build a pipeline because coronavirus-related restrictions ban large public protests. Alberta's Energy Minister Sonya Savage said people needed jobs and 'ideological protests' would not be 'tolerated' by ordinary Canadians. She was referring to the Trans Mountain oil pipeline, opposed by indigenous groups and environmentalists. It runs from Edmonton in Alberta to Burnaby, British Columbia. Construction started in December and the project, an expansion of a 67-year-old pipeline, is expected to triple the current capacity from 300,000 barrels per day to 890,000 per day. 'Now is a great time to be building a pipeline because you can't have protests of more than 15 people,' Ms Savage said on a podcast of the Canadian Association of Oilwell Drilling Contractors, when asked about the project. 'Let's get it built.' 'People are not going to have tolerance and
patience for protests that get in the way of people working,' she said. 'People need jobs, and those types of ideological protests that get in the way are not going to be tolerated by ordinary Canadians.'"


** Now let's get this one on the road too!
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Bloomberg ([link removed]) (5/22/20) reports: "The plan for a large proposed gold and copper mine in Alaska’s Bristol Bay has changed to include a two-lane, 82-mile access road along the northern shore of Lake Iliamna, alarming environmental opponents who say they weren’t informed of the change until late in the permitting process. David Hobbie, chief of the regulatory division for the Army Corps of Engineers’ Alaska district, told reporters on Friday that all alternatives have already been evaluated and put out for public comment. Thus, the new plan, which also includes a natural gas pipeline, won’t go out for more public comment, Hobbie said. The owners of the planned Pebble Mine had included the road as a possible alternative in earlier filings with the government. Tom Collier, chief executive officer of the Pebble Partnership, said he didn’t consider it to be a new plan. But some of the
opponents of the Pebble Mine say they were never told about the changed plans, and therefore never got a chance to comment on them. They said the move could prompt litigation...The plan hasn’t been approved yet. The Corps has said it will issue an environmental impact statement by the middle of the year, with a final decision to follow shortly thereafter. The Army Corps of Engineers is the lead federal agency involved in permitting for the mine."


** "Climate change poses an existential threat to our future — and time is running out to address it. We have to get Donald Trump out of the White House and tackle the challenge head-on."
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– ([link removed]) J ([link removed]) oe Biden, former inner-city lifeguard ([link removed])

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Feeding the crocodile, hoping he eats you last.

** Wall Street Journal ([link removed])
(5/22/20) editorial: "Try as he might, Larry Fink can’t seem to get off the political left’s target list. The BlackRock CEO earlier this year promised to sell coal investments, threatened to punish corporate managers who don’t disclose their climate (and other political) risks, and proclaimed that public companies must serve all 'stakeholders,' not shareholders. If he thought that was enough to buy absolution for being rich, he’s learning the hard way. At BlackRock’s annual shareholder meeting Thursday, climate ultras staged 'socially-distanced' demonstrations in cities around the globe demanding that the world’s largest asset manager 'make substantial changes to its entire investment model in order to be the climate leader it claims to be.' Some activists inflated a 10-foot hot air balloon at BlackRock’s New York City headquarters with a banner 'BlackRock: Hot Air on Climate.'...Mr. Fink said at the shareholder meeting that BlackRock was 'trying to make sure that we are representing the
ideas, the needs of our clients' who live in different parts of the U.S. We suspect his foremost goal is to be Joe Biden’s Treasury Secretary. Perhaps he is figuring out that the left will never forgive him for having made money as a capitalist, even if he now refuses to defend capitalism."

Go Solar! Go Wind! Go... deep seabed mining?

** E&E News ([link removed])
(5/26/20) reports: "Manufacturers may soon face a shortage of the raw materials needed to make clean energy technologies such as electric vehicle batteries, according to a new World Bank report. The bank's warning has emboldened advocates of deep ocean mining — who see that approach as a potential solution. But critics contend that deep ocean mining brings its own environmental challenges, and that recycling and new technologies ultimately will make that kind of mining obsolete...Opponents of ocean mining argue the world can find all the metals it will ever need through aggressive and global EV battery and renewable energy component recycling. The World Bank disagrees. Massive new mineral deposits will still have to be exploited even if 100% clean tech recycling were ever achieved, said Christopher Sheldon, a World Bank practice manager focused on energy and extractive industries."

Energy Markets


WTI Crude Oil: ↑ $34.38
Natural Gas: ↑ $1.79
Gasoline: ~ $1.96

Diesel: ~ $241
Heating Oil: ↑ $101.42
Brent Crude Oil: ↑ $36.28
** US Rig Count ([link removed])
: ↓ 332



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