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MORNING ENERGY NEWS  |  8.29.2019
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As if CNN isn't suffering enough from lousy ratings.


Washington Examiner (8/28/19) reports: "CNN's town hall about climate change will feature 10 Democratic presidential candidates and last seven hours. The network revealed the format for its Sept. 4 town hall on Tuesday. The event, which is scheduled to last from 5 p.m. to after 11 p.m., will consist of CNN hosts moderating a town hall discussion with each individual candidate for 40 minutes at a time. CNN chief climate correspondent Bill Weir will question the candidates throughout the evening, as well."

"Mayors who support such litigation also ignore how their own municipalities rely on fossil fuels...If a handful of energy producers are supposedly responsible for an entire planet’s worth of climate change, aren’t the cities that pump thousands of tons of carbon into the atmosphere also responsible?"

 

– Craig Richardson, Energy & Environment Legal Institute 

Bon Voyage, Bonvoy. I'm switching back to Hyatt.


USA Today (8/28/19) reports: "Marriott International, the world’s largest hotel chain, said Wednesday it will eliminate small plastic bottles of shampoo, conditioner and bath gel from its hotel rooms worldwide by December 2020. They’ll be replaced with larger bottles or wall-mounted dispensers, depending on the hotel...The larger bottles will still be plastic, and Marriott still plans to replace them – not just refill them – when they run low...Soon, hotels may not have a choice. Lawmakers in California are considering banning hotels from using small shampoo bottles in 2023, while the European Union is banning a wide range of single-use plastic items, like cutlery and plates, by 2021. Sorenson said he expects some complaints, like Marriott heard last year when it banned plastic straws and stirrers. Many people like collecting hotel shampoo bottles, he said. His own mother used to have a drawer full of soap she took from hotels."

Natural gas saves the day.


Washington Examiner (8/28/19) column "Earlier this month, as temperatures topped 100 degrees and homeowners and businesses cranked up their air conditioning, Texas’ grid struggled to cope with the record demand for electricity. The heat wave was compounded by a loss of power from thousands of wind turbines that couldn’t function on days when not so much as a breeze was blowing. Predictably, energy costs skyrocketed in the Lone Star State...Increasing reliance on renewables may sound good environmentally, but neither the sun nor the wind can provide reliable 'baseload' capacity that can be dispatched, as needed, when it is abnormally hot or cold. Gas plants, on the other hand are uniquely capable of ramping up quickly and hit maximum output in a matter of minutes, keeping the lights on and air conditioners humming. Looking ahead, we’ll need more natural gas, not less. Fortunately, more than 15,000 megawatts of new combined-cycle natural gas generating capacity—enough to power as many as 4.5 million homes 24/7 — is scheduled to begin operating nationally by 2020. Stopping or delaying those additions to the grid are recipes for brownouts or blackouts."

New footage of a meeting with Tom Steyer's campaign advisors.


NBC (8/28/19) reports: "Billionaire financier Tom Steyer, who has been under fire for trying to buy his way onto the Democratic presidential debate stage, appears to have failed to make it. Two polls released Wednesday morning, hours before the midnight deadline to qualify, didn't give Steyer or any other struggling candidate what they needed to qualify...Steyer has spent nearly $12 million on TV and digital advertising since entering the race last month, according to Advertising Analytics data provided to NBC News, more than six times his closest Democratic competitor." 

The latest alarmist claims that the Amazon is "the earth's lungs" is, you guessed it, complete bunk. But it's a nice narrative leading into the upcoming UN "Climate Action Summit" in NY. 


The Atlantic (8/27/19) reports: "As tongues of flame lapped the planet’s largest tract of rain forest over the past few weeks, it has rightfully inspired the world’s horror...The Amazon is a vast, ineffable, vital, living wonder. It does not, however, supply the planet with 20 percent of its oxygen. As the biochemist Nick Lane wrote in his 2003 book Oxygen, 'Even the most foolhardy destruction of world forests could hardly dint our oxygen supply, though in other respects such short-sighted idiocy is an unspeakable tragedy.' The Amazon produces about 6 percent of the oxygen currently being made by photosynthetic organisms alive on the planet today. But surprisingly, this is not where most of our oxygen comes from. In fact, from a broader Earth-system perspective, in which the biosphere not only creates but also consumes free oxygen, the Amazon’s contribution to our planet’s unusual abundance of the stuff is more or less zero."

I wonder if she knows that Gore-Tex is composed of stretched polytetrafluoroethylene?

Energy Markets

 
WTI Crude Oil: ↑ $56.12
Natural Gas: ↑ $2.24
Gasoline: ↓ $2.57
Diesel: ~ $2.93
Heating Oil: ↑ $186.04
Brent Crude Oil: ↓ $60.42
US Rig Count: ↑ 956

 
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