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MORNING ENERGY NEWS  |  8/17/2020
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Welcome to the Green New Deal.


Wall Street Journal (8/16/2020) editorial: "The California Independent System Operator (Caiso), which manages the state’s power grid, declared a high-level emergency Friday and Saturday evenings and ordered utilities to reduce power usage. California and most of the southwestern U.S. are experiencing a severe heat wave. But other states are managing to keep power flowing. Why can’t California? California last experienced rolling blackouts in 2001 amid energy market manipulation by speculators. This time the cause is energy market manipulation by anti-fossil fuel politicians. Democrats have mandated that renewables account for 60% of state electricity by 2030, which has forced power providers to invest in renewable energy sources now to meet the deadline. The result is something of a Rube Goldberg physics experiment."

And it's the future that Biden will deliver.


The Epoch Times (8/16/2020) reports: "Former Vice President Joe Biden has earned praise from union leaders for advancing a 'clean energy' plan laced with infrastructure, auto, transit, construction and energy projects designed to benefit organized labor. The proposed plan to 'build a modern, sustainable infrastructure and an equitable clean energy future' also includes appeals to 'environmental justice' that resonates with progressive policy advocates.  However, free market policy analysts have expressed concern about the impact Biden’s plan will have on energy and labor costs."




"The root cause of the California blackouts is systemic environmentalism."

 

– Alex Epstein, Center for Industrial Progress

Senator Stevens would be wearing his Hulk tie today. 


Wall Street Journal (8/17/2020) reports: "The Trump administration plans to approve an oil leasing program for the Arctic National Wildlife Refuge Monday, opening up the pristine 19-million-acre wilderness to drilling for the first time and making it difficult to unwind the decision should Democrats recapture the White House in November. Approving the program will clear the way to auction oil leases 'right around the end of the year,' Interior Secretary David Bernhardt said in an interview. The decision caps more than 30 years of efforts by oil companies and Alaskan leaders to drill in the refuge."

Big Green, Inc. invades Colorado.


The Colorado Sun (8/10/2020) reports: "The Democratic governor is accepting more than $1 million from donors, nonprofits and foundations to pay salaries and costs associated with six top policy positions, according to a review of financial records and other documents by The Colorado Sun in partnership with CBS4 Denver. The governor’s special adviser on climate change — tasked with moving Colorado to 100% renewable energy and hitting pollution reduction targets — is funded through the U.S. Climate Alliance with money from a foundation backed by the grandson of Walmart’s founder."

Climate change famines are canceled. 


Reason (8/13/2020) reports: "A team of biotechnologists at the University of Essex has been tweaking the process of photosynthesis—the system by which plants use sunlight to transform water and carbon dioxide into food. In a study for the journal Nature Plants, they describe how they've improved the energy efficiency of crop plants by inserting cellular machinery from algae. They've also boosted the production of an enzyme that makes it easier for carbon dioxide to be transformed into sugars. When combined, these two alterations have increased crop productivity by 52 percent in the greenhouse and by 27 percent in field trials."

Energy Markets

 
WTI Crude Oil: ↓ $41.90
Natural Gas: ↑ $2.36
Gasoline: ↑ $2.18
Diesel: ↓ $2.42
Heating Oil: ↓ $123.03
Brent Crude Oil: ↓ $44.61
US Rig Count: ↑ 280

 
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