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MORNING ENERGY NEWS  |  07/07/2020
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Of course, Dems want to go after sanitary single-use plastic in the middle of a global pandemic.


E&E News (7/7/20) reports: "House lawmakers today will study the health impacts of plastics pollution during the COVID-19 pandemic and how low-income and minority communities are excessively affected by both crises. The Oversight and Reform Subcommittee on Environment will also explore emerging scientific research on the long-term impacts of the consumption of microplastics, including through single-use plastic water bottles. 'We know that every stage of the plastic lifecycle poses significant risks to human health. Americans who have disproportionately suffered through decades of plastic pollution — those in majority low-income communities and communities of color — face compounding attacks on their lives and livelihoods during the coronavirus,' said Rep. Harley Rouda (D-Calif.) chairman of the subcommittee, in an email to E&E News. The country must continue to further scientific understanding and overhaul how plastic is produced, used and disposed of to protect public health, he said."

"Despite the recent regulatory challenges, this administration remains committed to promoting energy infrastructure projects throughout the country, which are critical to America's energy future."

 

– Dan Brouillette,
 Energy Secretary

Mucho dinero: the two words Sec. Salazar will use the most when translating Biden's climate costs for the Latin community.


Colorado Politics (7/6/20) reports: "Joe Biden's presidential campaign has named former Interior Secretary Ken Salazar as a co-chair of the presumptive Democratic nominee's Latino Leadership Committee. Salazar, a former U.S. senator and Colorado attorney general, was an early endorser of the former vice president's White House bid. He joins fellow Obama cabinet alum former Labor Secretary Hilda Solis heading the campaign group, the Biden campaign said. Three other Coloradans will also sit on the 45-member committee, which the Biden campaign said will mobilize the Latino vote by communicating how Biden will fight for Latino families."

The goal post is always on the move.


Axios (7/6/20) column: "The big picture: The coronavirus has left no part of our world untouched, energy and climate change included. Let’s check in on my 2020 predictions at the halfway mark of this tumultuous year. Climate change was reaching a new high-water mark for its role in the presidential contest among Democratic candidates. That focus has lessened significantly, along with an overall lack of attention to the election itself. Expect climate change to play a supporting role in the debate about other topics — the pandemic and racism — grabbing society’s attention. I predicted global oil prices would remain low throughout this year, but boy I didn’t think they would go so low they would (briefly) go negative. Whether 2019 turns out to be the peak in the world’s oil demand, thanks largely to the coronavirus, or whether we’ll see an even stronger rebound in the coming years if the world doubles down on its pre-pandemic travel habits...The persistently long-shot campaign of a carbon tax on Capitol Hill has gone awfully quiet in the last few months as the pandemic grips the world. A climate proposal House Democrats released last week includes a price on carbon, with an emphasis on ensuring protection for poorer Americans. I’ll be watching to see to what degree Biden embraces that — or whether he waits to see if he wins in November."

Timing is everything...


LNG Global (7/5/20) reports: "Berkshire Hathaway Energy announced today it has executed an agreement to acquire Dominion Energy’s natural gas transmission and storage business. Berkshire Hathaway Energy will acquire 100% of Dominion Energy Transmission, Questar Pipeline and Carolina Gas Transmission; and 50% of Iroquois Gas Transmission System.  As part of the deal Berkshire Hathaway Energy will acquire 25% of Cove Point LNG. Cove Point LNG is an export, import and storage facility located on the Chesapeake Bay in Lusby, Maryland. Dominion Energy will continue to own 50% of Cove Point, with Brookfield Asset Management continuing to own the remaining 25% share. Berkshire Hathaway Energy will operate the Cove Point facility once the transaction closes. The Cove Point facility has a nameplate capacity of 5.25 mtpa of LNG. The assets to be acquired by Berkshire Hathaway Energy include over 7,700 miles of natural gas transmission lines, with approximately 20.8 billion cubic feet per day of transportation capacity and 900 billion cubic feet of operated natural gas storage with 364 billion cubic feet of working storage capacity. The transaction is valued at $9.7 billion, including the assumption of $5.7 billion of existing Dominion Energy debt. Warren Buffett, chairman of Berkshire Hathaway, said: 'We are very proud to be adding such a great portfolio of natural gas assets to our already strong energy business.'" 

Energy Markets

 
WTI Crude Oil: ↓ $40.38
Natural Gas: ↑ $1.89
Gasoline: ~ $2.18
Diesel: ~ $2.43
Heating Oil: ↓ $123.88
Brent Crude Oil: ↓ $42.92
US Rig Count: ↑ 270

 
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