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MORNING ENERGY NEWS  |  8.21.2019
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Another record smashed.


Energy Information Administration (8/19/19) reports: "Natural gas deliveries to U.S. facilities producing liquefied natural gas (LNG) for export set a monthly record in July 2019, averaging 6.0 billion cubic feet per day (Bcf/d)—7% of the total U.S. dry natural gas production—according to data from OPIS PointLogic Energy. In the first seven months of 2019, natural gas feedstock deliveries to LNG export facilities have been the fastest growing among all U.S. natural gas consumption sectors. Natural gas delivered by pipelines to Mexico and to U.S. LNG export facilities reached 10.9 Bcf/d in July and averaged 10.0 Bcf/d in the first seven months of this year, 30% more than in the same period of 2018. The United States has been exporting more natural gas than it imports on an annual basis since 2017, and EIA expects that U.S. natural gas exports will continue to increase as new LNG facilities come online."



"Abandoning fossil fuels as quickly as possible, as many environmental activists demand, would slow the growth that has lifted billions of people out of poverty."

 

– Bjørn Lomborg,
 Copenhagen Consensus Center

Brave teachers from Chicago on a fact-finding mission learning how to lead a modern classroom without electricity.


Chicago Tribune (8/19/19) reports: "The recent trip to Venezuela by a group calling itself a Chicago Teachers Union delegation has upset some union members and expats who question the point of the tour and take issue with the group’s praise of the country’s disputed government. The four travelers, who crowdfunded the July trip under the banner of the CTU, met with Venezuelan government officials and educators, visited a commune and were featured in local media. They wrote online about wanting to connect with Venezuelan teachers, students and unionists, criticized U.S. economic sanctions against the South American nation and wrote admiringly of its socialism, its communes and high literacy rates...CTU also retweeted another post by teacher Sarah Chambers, one of the travelers and a member of the CTU executive board, which read: 'While staying in #Venezuela, we didn’t see a single homeless person. USA is the richest country in the world; yet, there are homeless people everywhere. Over 17k CPS students are homeless.'"

Permission to come aboard? 

The calvary is coming.


New York Post (8/15/19) reports: "The United States is now the top oil and gas producer in the world. Our nation is more energy independent than ever before. At the same time, we continue to improve our air quality. But too many critically important pipelines are still being delayed for years or killed altogether. For President Trump, these delays and blockades are unacceptable. In April, the president issued an executive order directing his administration to take action to accelerate and promote the construction of pipelines and other important energy infrastructure...Cuomo’s blockade isn’t just harming New Yorkers. His unilateral action is threatening the energy independence for all of New England, which would have benefited from the pipeline...We should be bolstering American energy independence and American jobs — not making ourselves vulnerable by lining the pockets of foreign energy suppliers."

If the Germans can't figure it out, then what chance does Seattle have?


Real Clear Energy (8/16/19) reports: "On Monday, the Seattle City Council passed a resolution that adds the city to the list of municipalities that have committed to a local version of the Green New Deal. More than 100 cities have now declared their intent to obtain all of their electricity from renewables or 'clean' energy sources...While there’s no doubt that renewable energy is politically popular, there’s also no doubt that wind energy projects – both onshore and offshore – are facing increasing opposition and that, in turn, could cause the all-renewable goals to be missed...Perhaps the most remarkable example of the opposition to wind energy can be seen in Germany, a country that has long been touted by renewable-energy advocates as a model to be copied...But last month, the German newspaper Die Welt, reported that new wind installations in Germany during the first six months of 2019 “collapsed” falling to the lowest level since 2000, the year the country introduced the Renewable Energy Act. Just 231 megawatts of new capacity were installed during the first half of the year, which according to the German Wind Energy Association, 'corresponds to a decline of 82%' when compared to the same period in 2018." 

It really shouldn't be that hard of a concept to grasp...


The Hill (8/19/19) column: "Let’s give credit to where credit is due. The remarkable success of the world-class trans-Alaska pipeline system (TAPS) offers grounds for optimism about public acceptance of oil and natural gas pipelines in the United States...Those accomplishments could be limited, however, if the prospects for some pipeline projects are left to the whims of various opponents. Because oil and gas will continue to play a leading role in our nation’s energy future, it’s especially important to resolve disputes that have been blocking some pipeline construction. A good example is the Keystone XL pipeline that would bring Canadian oil from Alberta to the American Midwest and beyond. Although a U.S. appeals court recently ruled in its favor, the project still must clear several more legal hurdles before construction can begin. Further delays would be felt far beyond the oil patch.  In today’s world, there is simply no credible way to transport oil and natural gas without pipelines. To forfeit a major pipeline like the Keystone XL would be a serious mistake for North America."

Energy Markets

 
WTI Crude Oil: ↑ $56.71
Natural Gas: ↑ $2.23
Gasoline: ↓ $2.60
Diesel: ~ $2.94
Heating Oil: ↑ $186.70
Brent Crude Oil: ↑ $60.95
US Rig Count: ↓ 959

 
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