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MORNING ENERGY NEWS  |  06/29/2020
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They won't be happy until cars are exclusively gravity powered.


Bloomberg (6/28/20) reports: "House Democrats on Tuesday will issue an ambitious plan to combat climate change, a move intended to reassure their base of supporters but that’s sure to inflame opponents on the right. The proposal will be released at an event at the U.S. Capitol with Speaker Nancy Pelosi and several other Democratic lawmakers. In a statement announcing Tuesday’s unveiling, the committee offered no details on the plan but called it 'a comprehensive congressional action plan to solve the climate crisis.' A spokesman for committee Democrats didn’t respond to a request for comment on specifics. The more than 500-page plan, from the Select Committee on the Climate Crisis convened by Pelosi and chaired by Representative Kathy Castor of Florida, seeks to achieve net-zero emissions by 2050 and calls for achieving 100% clean vehicles by 2035, according to people familiar with the details...Republicans will almost certainly use it in an election year to paint Democrats as 'environmaniacs' out of touch with working people and the economy. 'It would be a gift,' said Tom Pyle, president of the American Energy Alliance, a free-market advocacy group that opposes many of the policies likely to be contained in the plan."

"Innovation and a thriving private sector turned the United States from foreign energy dependent to the world leader in energy production."

 

– Dan Brouillette,
Secretray of Energy

Public transit breeds disease.


Zero Hedge (6/28/20) reports: "The fact is unavoidable: Black and Hispanic Americans have been dying of the coronavirus at rates 3.5x those of white Americans. For weeks now, politicians and activists have cited these data as evidence that 'white supremacy' does, in fact, exist, since minorities - they argued - were more likely to work low-paid 'essential' jobs at grocery stores, pharmacies, etc. As it turns out, these theories, reported as if they were undeniable truths by the mainstream press (including the New York Times & Washington Post), didn't tell the whole story. While it's true minorities are dying at higher rates than white people from COVID-19, several recently published studies have determined that these higher mortality rates are likely connected to their higher use of public transit to commute to work - either via subway or bus. Furthermore, the study finds, elevated infection and mortality rates impact all people who take public transit, regardless of racial or economic status."

Green New Deal debuts on Paris runway.


E&E News (6/29/20) reports: "Twenty-nine environmental activists were arrested Friday after breaking onto a runway of Paris' Orly Airport to protest plane emissions — just hours after the airport reopened for the first time since the virus pandemic grounded most air travel three months ago. The activists from Extinction Rebellion (XR) demanded that France's domestic flights be immediately stopped because of the high carbon emissions they produce. The protesters broke into the airfield at 10 a.m. after warning security guards of their presence, according to Franck, an XR activist on the scene who declined to give his full name for fear of retribution from authorities. The activists set off flares of red smoke as they walked toward the runway to signal their presence to the surrounding planes. Several pairs of protesters locked themselves together by the neck to complicate their eventual arrest, Franck said. About 30 minutes later, gendarmes arrived, and most of the activists were arrested or left, he told The Associated Press. Police said 29 people were detained. Franck said a journalist was among them."

Nailed it.


Week Day Times (6/9/20) reports: "Harold Hamm, the billionaire shale pioneer, stated Joe Biden’s clear energy plan was “not based in reality” and warned Saudi Arabia by no means to repeat its value battle on the US oil sector, as he hit out at these he sees as opponents of American oil. Mr Hamm, govt chairman of Continental Resources, a pacesetter of the shale revolution that made the US the world’s greatest oil producer, praised President Donald Trump for serving to elevate crude costs in current weeks, and dismissed his Democratic challenger’s energy proposals. 'It’s not sound economics,' stated Mr Hamm in an interview, referring to the inexperienced energy deal guiding Mr Biden’s energy policy. 'It’s not reasonable. It’s not based in reality. People should be concerned when they hear things like that.' Mr Biden’s marketing campaign group did not reply to requests for remark.Mr Hamm has suggested the White House on energy and nonetheless talks often with Mr Trump. He attended the president’s rally in Tulsa, Oklahoma, on June 20." 

Energy Markets

 
WTI Crude Oil: ↑ $36.61
Natural Gas: ↑ $1.69
Gasoline: ↑ $2.17
Diesel: ↓ $2.43
Heating Oil: ↑ $114.98
Brent Crude Oil: ↑ $41.03
US Rig Count: ↓ 290

 
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