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MORNING ENERGY NEWS  |  8.19.2019
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Can’t we all just get along?


The Hill (8/16/19) reports: "It was a decision directly from President Trump that ended the Environmental Protection Agency’s (EPA) review of the nation’s biofuel program, according to a Friday report from Reuters, a move that had the president siding with refineries over corn growers. Last Friday, the EPA granted 31 exemptions to small refineries across the country, giving them a pass on blending ethanol into gasoline. But sources told Reuters the decision signals a bigger shift within the Trump administration to favor the oil and gas sector over farmers, a group that has already been hit hard by Trump’s tariff war with China."

"Arbitrarily imposing higher costs on traditional energy sources and the products produced or transported with them will adversely impact nearly every aspect of life in America."

 

– Pat Whittinghill,
Americans for Tax Reform

Pay no attention to the billionaire behind the green curtain.  


Energy In Depth (8/16/19) reports: "The Minnesota Attorney General’s office is more than a thousand miles away from New York City, yet Michael Bloomberg’s money and influence are felt even there. A new lawsuit is challenging whether Minnesota AG Keith Ellison is able to accept a 'Special Assistant Attorney General' from NYU School of Law’s State Energy and Environmental Impact Center (SEEIC), a program created by former New York City mayor and billionaire Michael Bloomberg. Doug Seaton, president of the non-profit Upper Midwest Law Center, announced the lawsuit against the Minnesota AG for hiring Pete Surdo, a fellow with the SEEIC. According to Seaton, state law requires that all salaries for lawyers working for the AG’s office be paid by the state. Surdo’s salary and benefits are paid by the SEEIC, funded by a $6 million grant from Bloomberg. As with other AG offices with Special Assistant Attorneys General from the SEEIC, their participation in the program raises concerns as to how Bloomberg’s influence could seep into the AG’s office. As Seaton noted:"

A man of the people.


CBC (8/17/19) reports: "'Everywhere in Canada that a carbon tax has been imposed it has not achieved its targets' While election season is yet to officially begin, Andrew Scheer, leader of the Conservative Party of Canada is off to the races with climate change and federal carbon tax on his mind. He discussed his plans around climate change, including his intention to repeal the Liberal's carbon tax, to a supportive audience. 'Emissions are continuing to go up and life is getting more expensive, and because of it people are falling further behind,' Scheer told CBC." 

Don't call it a comeback.


Reuters (8/16/19) reports: "U.S. energy firms this week increased the number of oil rigs operating for the first time in seven weeks despite plans by most producers to cut spending on new drilling this year. Companies added six oil rigs in the week to Aug. 16, the biggest increase since April, bringing the total count to 770, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday...Production has continued to rise despite the decline in the rig count because productivity has increased in most basins this year, meaning drillers are getting more oil and gas out of each new well even though they are operating fewer rigs." 

Fake news fueling fake news.


CNS (8/19/19) reports: "Citing a new study arguing that the media give too much prominence to climate skeptics in their coverage of climate issues, a group advocating for governments to declare a climate 'emergency' says those responsible for such editorial decisions are 'sacrificing the future of our planet for the sake of appearing objective.' TCM is a group dedicated to what it calls a 'World War II-scale mobilization to restore a safe climate.' It played an 'advisory role' in a resolution announced last month by Sen. Bernie Sanders (I-Vt.) and Democratic Reps. Alexandria Ocasio-Cortez (N.Y.) and Earl Blumenauer (Ore.) calling on the U.S. House and Senate to symbolically declare a 'climate emergency.'"

A rare reasonable take from the British isles. 

Energy Markets

 
WTI Crude Oil: ↑ $55.12
Natural Gas: ↓ $2.16
Gasoline: ↓ $2.61
Diesel: ↓ $2.94
Heating Oil: ↓ $181.27
Brent Crude Oil: ↑ $58.79
US Rig Count: ↓ 973

 
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