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MORNING ENERGY NEWS  |  08/18/2020
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It's either reliable energy or green dreams.


Politico (8/18/20) reports: "The exact root of California’s rolling blackouts is still unclear as more power outages loom, and that's allowed everyone to point fingers. Energy experts Monday cited a litany of potential causes for the rotating outages that affected hundreds of thousands of California residents Friday and Saturday nights: ballooning demand, inadequate transmission, an overreliance on renewable energy and the incursion of new energy providers that don't have the same obligation to maintain reserves as traditional utilities do. While California braced for another round of rolling blackouts Monday night, the state's grid operator held off for a second straight night, citing cooler than expected weather and widespread conservation. It also came as Gov. Gavin Newsom questioned all of the state's electricity players about why the outages occurred and faced blowback from frustrated residents. 'Hot weather and a cloudy day should not be able to shut down the fifth-largest economy in the world,' Lance Hastings, president of the California Manufacturers and Technology Association, said in a statement. 'While we support California’s renewable energy goals, we absolutely need system redundancy that allows us to continue to operate and manufacture products for our residents and the world.'"

And the greens are looking to blame everyone but themselves for this tragedy.

"How tone-deaf can the political class be? We have been crushed by this virus in so many ways, and now they want to stomp big-government’s boot even harder upon our backs while we’re down? Government must live within its means, just like we all had to."

 

– Mike Stenhouse,
Rhode Island Center for Freedom & Prosperity

Recently back from their Twitter ban and hitting harder than ever.


Babylon Bee (10/29/19) reports: "U.S.—New billboards have been popping up in California with the slogan 'Move to Texas: We have electricity!' Many see this as a play to lure jobs away from California, as many jobs rely on electricity, especially in the modern economy. This could especially be attractive to jobs in the tech sector.  Roy Rivera, a tech analyst with decades of experience in cutting edge technology, explained that 'a lot of tech uses electricity.' He then pointed to a chart showing that tech businesses can be at least 300% more effective when they have power. California Governor Gavin Newsom was dismissive of Texas's claims, though. 'They’re making false claims of being able to deliver electricity 24/7,' Newsom said, 'but it just can’t be done.' Newsom was also dismissive of the Lone Star State's other claims, such as affordable housing, plenty of water, cheap gas, plastic straws, and not constantly being on fire. 'It sounds made up,' said Newsom. 'I don’t even think there is a Texas.' California plans to fight back. It’s now working on a wall to keep people and jobs from leaving California. The planned wall should extend along the entire California border, except for the southern part."

There can be no hiding their extremism now.


Forbes (8/15/20) column: "With the addition of California Senator Kamala Harris to the ticket with Joe Biden, the Democratic Party carved its anti-oil and gas credentials into stone for 2020 heading into its virtual national convention this week. Harris, a co-sponsor last year of Alexandria Ocasio-Cortez’s “Green New Deal,” has repeatedly bragged about her intention to ban hydraulic fracturing and enforce an array of draconian restrictions on the oil and gas industry should she and her running mate win the election in November.nWith a large majority of voters now doubting that the 77 year-old Biden would be able to serve out a full term in office, the positions of the Democrat vice presidential candidate become more important than is normally the case in a presidential election. And it should be noted that, despite his ongoing efforts to walk some of it back, Biden himself promised during the party’s primary debate season to not just ban fracking, but also to halt new leasing on federal lands and waters and to eventually somehow eliminate the use of oil and gas entirely in the U.S. As documented by the Institute for Energy Research (IER) in June, the official Biden/Harris campaign platform still lists a ban on 'new oil and gas permitting on public lands and waters' as one of Biden’s major goals upon taking office. A recent study commissioned by the National Ocean Industries Association (NOIA) finds that such a ban would 'cost almost 200,000 jobs, deny the U.S. government billions of revenue dollars, and push offshore production to other countries.'"

Trump's Energy Dominance...US ships Oil to Saudi Arabia


World Energy News (8/6/20) reports: "The United States sent a shipment of crude to Saudi Arabia in June, data from the U.S. Census Bureau showed on Wednesday, in what appears to be the first such delivery since the U.S. ban on crude exports ended in 2015. The United States shipped about 550,000 barrels, or 18,300 barrels per day (bpd), of crude to Saudi Arabia in June, U.S. Census data shows. The U.S. Energy Information Administration has no recorded instances of a U.S. crude shipment to Saudi Arabia. U.S. Census data shows a miniscule 1,000-barrel shipment to Saudi Arabia in 2002. That was during the four-decade ban on exports." 

Energy Markets

 
WTI Crude Oil: ↓ $42.23
Natural Gas: ↑ $2.46
Gasoline: ↓ $2.17
Diesel: ~ $2.42
Heating Oil: ↑ $124.02
Brent Crude Oil: ↓ $44.93
US Rig Count: ↑ 287

 
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