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DAILY ENERGY NEWS  |  06/10/2020
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Where else but in the greatest country on Earth...


Gizmodo (3/16/20) reports: "As if we needed any more evidence that the world is a psychedelic hellscape, RuPaul—yeah, that RuPaul— and his husband are making money off the fracking industry. Yes, yes, this sounds like a wild conspiracy theory. But we’ve got the receipts. RuPaul’s a big fan of getting that coin. In 30 years, they went from struggling artist to a household name. Now, as the host of the wildly popular TV drag competition RuPaul’s Drag Race, he’s a household name and has amassed a net worth of $60 million. Fans know that RuPaul and his partner Georges LeBar have a massive ranch in Wyoming. And in an interview with Terry Gross on NPR’s Fresh Air, they let us know a little more about what goes on at that ranch...Solomon found Ru’s ranch was a fracking hot spot, according to the nonprofit group FracTracker. Earther dug further, checking public records of the couple’s ranch. We found that Ru’s partner, Australian rancher Georges LeBar, owns seven parcels of land in Wyoming totaling some 66,000 acres. LeBar’s company, Le Bar Ranch, leases that land to at least three oil companies: Anadarko E&P Onshore, Chesapeake Operating, and Anschutz Oil Company. Using FracTracker, we looked at just 10,000 of those acres and found more than 35 active oil and gas wells."

"During times of crisis, the temptation for politicians to 'just do something' is understandable. But proration is not the right something."

 

– Josiah Neeley,
R Street Institute

Time to ditch the flowers.


Sacramento Bee (6/9/20) reports: "PG&E Corp. said Monday it’s moving its headquarters from San Francisco to Oakland, severing ties with the city it’s called home since the Gold Rush. The utility said the relocation will help reduce costs and is part of its effort to start fresh after a string of deadly wildfires ruined the company’s reputation and landed it in bankruptcy. PG&E hopes to gain final approval for its bankruptcy plan within days and said the real estate savings will be passed on to customers, along with the profits from the sale of its three-building headquarters complex near the Embarcadero. 'Our new Oakland headquarters will be significantly more cost-effective, is better suited to the needs of our business, and is a critical part of fulfilling our commitment to operate in a fiscally responsible way that will enable us to achieve our operational and safety goals,' said Bill Smith, who is taking over June 30 as interim chief executive."

China pours on the coal to make solar and wind devices for the U.S.


E&E News (6/9/20) reports: "In 2010, Beijing's attempts to revive the Chinese economy sent coal consumption and carbon dioxide emissions soaring. It could be happening again. China permitted more new coal-fired power plants in March than it did in all of 2019. The new permits come on the heels of an uptick in coal plant construction last year — reversing a two-year slowdown in China's coal expansion. The build-out has immense stakes for the planet. China consumes more than half the world's coal. Today, it has almost as much new coal generation in planning or construction (206 gigawatts) as the United States has in operation (235 GW at the end of 2019). All those new plants would emit 35.8 billion metric tons of carbon dioxide if they ran for 40 years, said Christine Shearer, who runs the coal program at Global Energy Monitor, a research group that tracks fossil fuel infrastructure. By comparison, the global economy emitted 36.8 billion metric tons last year."

PA state reps are taking a stand against the Wolfe in sheep's clothing trying to push a backdoor tax on energy.


The Center Square (6/9/20) reports: "A Pennsylvania House panel approved a measure Tuesday that would limit the governor’s ability to enter the state into the Regional Greenhouse Gas Initiative. House Bill 2025 advanced along party lines in the Environmental Resources and Energy Committee after Republican prime sponsor Rep. Jim Struzzi said the legislation 'gives a voice' back to the coal plant workers in his Indiana County district who will lose their jobs if the state joins RGGI in 2022 as scheduled. 'I think everyone understands that we, as elected representatives of the people, should have a say in entering any type of multistate faction, particularly one that could have a devastating effect on our economy,' he said before the vote Tuesday. In October, Gov. Tom Wolf directed the Department of Environmental Protection to draft a plan for joining RGGI, a 10-state coalition that charges power producers for the pollution they emit in an effort to reduce greenhouse gas emissions and the impacts of climate change. 'Governors do not have the authority to enter us into these types of agreements,' said Committee Majority Chairman Daryl Metcalfe, R-Butler. 'There is no tax unless we authorize it. We are not going to sit idly by and kill these jobs.'" 

Energy Markets

 
WTI Crude Oil: ↓ $38.36
Natural Gas: ↑ $1.77
Gasoline: ↑ $2.07
Diesel: ↑ $2.41
Heating Oil: ↓ $115.04
Brent Crude Oil: ↓ $40.69
US Rig Count: ↓ 308

 
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