Your Morning Energy News

View this email in your browser ([link removed])
MORNING ENERGY NEWS | 06/12/2020
Subscribe Now ([link removed])


** If they are essential in a pandemic, what makes then obsolete any other time?
------------------------------------------------------------
Inside Sources ([link removed]) (6/8/20) column: "Fallout from the COVID-19 pandemic has reached unthinkable proportions with many thousands dead and millions facing unemployment. In response, Congress and the Trump administration have ramped up government spending while the Federal Reserve has provided sufficient liquidity to keep the economy from collapsing. To the surprise of few, the administration’s actions have drawn the ire of some lawmakers and others hoping to exploit the pandemic as a springboard for a revived 'Green New Deal.'...This is not the time to be beating up on fossil fuels. Climate activists, whether in Congress or environmental organizations, should, if anything, be applauding the efforts of fossil fuel companies to battle the pandemic. In an editorial several weeks ago, The Wall Street Journal echoed this sentiment by pointing out the role many industry members are playing in personal
protective equipment production and community relief efforts...We should also remember that fossil fuels, particularly natural gas, are essential as backup power sources to intermittent wind and solar energy to ensure electric grid reliability. Attacks on the EPA and its rule making are nothing more than a stalking horse for pushing various climate agendas. In fact, the pandemic and pollution have nothing to do with each other."


**
"Despite its rosy claims, this legislation combines two bills that will only tighten the federal stranglehold on our lands and drive us deeper into debt, to the detriment of our economy, our environment, and the livelihoods and the freedom of the American people."
------------------------------------------------------------


– ([link removed]) M ([link removed]) ike Lee, Senator (R-Utah) ([link removed])

============================================================

If one good thing comes from COVID-19, it'll be revealing the costliness of Globo-Gov's climate agenda.

** Reuters ([link removed])
(6/12/20) reports: "Ship owners are postponing or cancelling the installation of 'scrubbers' that extract harmful sulphur emissions from their vessels as the coronavirus pandemic tightens finances. Regulations from United Nations agency the International Maritime Organization (IMO), which took effect in January, were viewed by the oil and shipping industries as one of the first worldwide efforts to enforce environmental change. The rules aimed to make ships use fuel with a sulphur content of 0.5%, compared with 3.5% previously. Operators had the alternative option to install devices - scrubbers - to strip out the pollutant, which causes lung problems among humans and contributes to acidification of oceans and acid rain, but has not been directly linked to climate change like carbon. In the run-up to IMO 2020, dozens of traders and ship owners, bet on installing scrubbers hoping to make a profit from buying cheaper high-sulphur fuel as the newly developed 0.5% alternative would be in tight
supply. But with an average cost of $2 million to install just one, the stakes were already high for fleet operators often facing investments of more than $100 million. Now the industry financial squeeze, caused by a decline in demand for freight services due to the COVID-19 crisis, may mean scrubbers become less of an option for ship owners to comply with regulations."

Wuhan Flu impacting Chinese solar panel imports.

** E&E News ([link removed])
(6/12/20) reports: "The U.S. solar industry grew to record size in the first quarter of this year, but the coronavirus pandemic is expected to plunge year-over-year installations of rooftop solar and other small-scale distributed systems by 32%, according to a report yesterday. Solar systems were close to 40% of the nation's new power capacity during the quarter, a time period that preceded most COVID-19 shutdowns in the United States, said analysts at Wood Mackenzie and the Solar Energy Industries Association (SEIA). That share was the 'largest annual share in the industry's history,' they said. The volume of solar power that came online was also the largest for a first quarter by more than a gigawatt. And demand for utility-scale projects stayed strong. But given the cascading state shutdowns that occurred after the first quarter, analysts say they expect a deeply rattled sector when the second quarter ends — especially for rooftop solar."

Another green dream leeching off of taxpayers.

** Bloomberg ([link removed])
(6/11/20) reports: "Carbon capture, the fossil-fuel industry’s favorite weapon against climate change, has never really caught on because of the cost. That may be about to change. The Internal Revenue Service recently issued crucial guidance to help developers take advantage of tax credits for the systems, and supporters say it could usher in a new era for the controversial technology. 'It’s the make-or-break financial element,' said Peter Mandelstam, chief operating officer for Enchant Energy Corp., which is preparing to install a carbon-capture system at a coal-fired power plant near Farmington, New Mexico. 'The Enchant project only works if the tax credit is in place.' Thirteen commercial systems are operating in the U.S., with 30 more in development, according to the Carbon Capture Coalition. Nine have been announced since October. The growing list boasts projects proposed by deep-pocketed developers including Occidental Petroleum Corp. and Starwood Energy Group Global. A similar tax
credit jump-started the U.S. wind-power industry more than a decade ago, and supporters say the new IRS guidance may prove to be the missing piece of the financial puzzle that will make capturing carbon economical."

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: ↑ $36.40
Natural Gas: ↓ $1.79
Gasoline: ↑ $2.09

Diesel: ↑ $2.41
Heating Oil: ↑ $110.71
Brent Crude Oil: ↑ $38.74
** US Rig Count ([link removed])
: ↓ 303



** Friend on Facebook ([link removed])
** Friend on Facebook ([link removed])
** Follow on Twitter ([link removed])
** Follow on Twitter ([link removed])
** Forward to a Friend ([link removed])
** Forward to a Friend ([link removed])
Our mailing address is:
** 1155 15th Street NW ([link removed])

** Suite 900 ([link removed])

** Washington, DC xxxxxx ([link removed])
Want to change how you receive these emails?
** update your preferences ([link removed])

** unsubscribe from this list ([link removed])