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MORNING ENERGY NEWS  |  8.27.2019
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The "Math" guy just came out in favor of banning the stuff that provides 80% of America's energy. 


Newsweek (8/26/19) reports: "Presidential candidate Andrew Yang unveiled a nearly $5 trillion climate change proposal Monday morning that advises taking several specific steps within the next few decades, with the ultimate goal of achieving net-zero emissions by 2049. Similar to the objectives of the Green New Deal, Yang's plan is the latest ambitious proposal from a 2020 hopeful to address climate change and court Democratic primary voters...The price tag for such a policy would top out at $4.87 trillion—which would be funded, in part, by eliminating oil company subsidies and instituting a carbon fee and dividend. Yang estimates those measures combined would raise hundreds of billions of dollars per year...The 44-year-old entrepreneur classified the Green New Deal, a similar climate change initiative introduced by freshman New York Democrat Alexandria Ocasio-Cortez and others, as something that 'has done a great job in starting the conversation.'"

And someone should tell the "relatable" guy that's the same natural gas he wants to ban.

"A Brazilian approach that boosts economic development while keeping a close eye on the natural environment sounds like a good one. But it horrifies Western greens who are allergic to any kind of meaningful economic development."

 

– Brendan O'Neill, Spiked

Breathe easy, the "lungs of the world" are fine.


Reason (8/23/19) reports: "A report from the Brazilian National Institute for Space Research that says the agency had detected 39,194 fires in the region, a 77 percent jump up from the same period in 2018, that picture has launched alarmed headlines around the world...'The majority of these fires were set by farmers preparing Amazon-adjacent farmland for next year's crops and pasture,' soberly explains The New York Times. "Much of the land that is burning was not old-growth rain forest, but land that had already been cleared of trees and set for agricultural use.'...What about deforestation trends? As development takes off, levels of pollution and land degradation rise, but they begin to improve once certain thresholds of per capita incomes are attained. A 2012 study found, after parsing data from 52 developing countries between 1972 and 2003, that deforestation increases until average income levels reach about $3,100 per capita. As it happens, Brazilian per capita incomes reached $3,600 per capita in 2004, which is when deforestation rates began trending decisively downward...A 2018 study in Nature reported that the global tree canopy cover had increased by 865,000 square miles from 1982 to 2016. As Brazilians become wealthier, the deforestation trend in the Amazon will likely turn around toward afforestation, as it already has done many other countries."

Thanks to King Cuomo and company, Long Island is short on energy. 


The Hill (8/17/19) column: "Last month, my Uncle Joe thought he’d found his dream home in the village of Oceanside on Long Island’s south shore. It had the white picket fence, a breezy porch, and — most essentially — a short ride to his grandchildren. The one drawback was that the house lacked a natural gas connection, and as an amateur gourmand and the patriarch of a hungry family, an electric stove just wasn’t going to cut it; nor was he keen on home heating oil. Before making his offer, he had the foresight to check on the costs and timeframe for a conversion to natural gas. To his shock, National Grid, the regional gas provider, had placed a moratorium on all new gas hookups for both residential and business customers. Grudgingly, he passed on the house...ational Grid is not the villain in this horror story. In fact, their work has only helped reduce emissions by switching over 8,000 customers from oil to cleaner natural gas over the past few years. However, they have been warning Gov. Andrew Cuomo and his Department of Environmental Conservation that a failure to approve a new pipeline will result in the company’s inability to provide an adequate supply of gas to the region."

Greens "investigating" made up crimes have been found to be committing actual crimes.


Energy In Depth (8/22/19) reports: "The organization behind Climate Liability News (CLN), a dark money anti-oil and gas activist website set up to promote climate lawsuits, may be violating Maryland state law, according to the Daily Caller. A complaint filed by attorney Cleta Mitchell alleges that CLN’s parent organization failed to register with its home state and asks state officials to investigate the organization and consider fining the group and its directors for violating state law. Climate Liability News is a project of Climate Communications and Law (CCL), a non-profit incorporated in Washington, D.C., on April 26, 2017. The complaint provides evidence that CCL’s corporate status was revoked by D.C. as of May 19, 2019, but says CCL filed to have its status reinstated earlier this month after the revocation was brought to its attention...The complaint against CCL is not the first evidence that has surfaced of climate litigation activists appearing to sidestep state laws. The Washington Free Beacon reported last year that a representative of Sher Edling, a law firm representing multiple plaintiffs in climate liability lawsuits against energy producers, asked Miami Beach officials to move their conversations offline, specifically to prevent their communications from being made public." 

Energy Markets

 
WTI Crude Oil: ↑ $54.31
Natural Gas: ↓ $2.22
Gasoline: ↓ $2.58
Diesel: ↓ $2.93
Heating Oil: ↑ $180.74
Brent Crude Oil: ↑ $59.29
US Rig Count: ↓ 954

 
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