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MORNING ENERGY NEWS  |  08/19/2020
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After much deliberation, we have made our decision.


DonaldJTrump.com (8/18/20) blog: "As Joe Biden and the radical left brag about their plans to rob Americans of energy independence and sacrifice hundreds of thousands of blue-collar jobs in pursuit of their unaffordable energy agenda, President Trump is leading the nation towards robust energy dominance. In just his first term, President Trump has made significant strides in undoing the damage inflicted on the energy industry by the previous administration, allowing the U.S. to become the world’s preeminent energy superpower. The American Energy Alliance's endorsement of President Trump's re-election is a testament to the Trump Administration's historic actions to secure more prosperity for American families and businesses through pro-energy policy reforms."

"Solar and wind are the cheapest forms of new energy. California’s blackout is due to poor management. It’s not due to a supply problem."

 

– Dan Kammen,
UC Berkeley

Methane madness unpacked.


National Review (8/18/20) reports: "Let the hysteria begin. The Trump administration has finalized a reform of the federal rules on emissions of methane, the major component of natural gas, from oil and gas production. The existing rules were implemented by the Obama administration in 2016, justified largely as a means of addressing anthropogenic climate change. That justification is deeply dubious, but any relaxation of such regulations is unacceptable to an environmental Left ideologically opposed to fossil fuels. And so an inexorable avalanche of criticism and litigation from the usual suspects is upon us, all of which will ignore several central truths.First: Neither the Obama rule nor the proposed reform would have any detectable effect on temperatures or climate phenomena over the remainder of this century...Second: The Obama rule and the Trump reform apply only to U.S. oil and gas production and transport systems, which account for about 28 percent of U.S. methane emissions and about 2.6 percent of U.S. greenhouse-gas emissions...Third: The Obama rule largely overlapped with the existing regulation of volatile organic compounds (VOCs) emitted as a result of fossil-fuel companies’ operations. "

Pitiful.

Lockdowns are simply a preview of life under the GND, but with electricity available...in most states.


Wall Street Journal (8/18/20) column: "The climate-change movement is taking advantage of the Covid-19 pandemic, equating it with the 'existential crisis' of man-made global warming. While praising the current display of unilateral government action as a model for addressing climate change, many environmentalists and liberal politicians have also called for a surge in government spending on renewable energy projects. The 2020 Democratic Party platform champions 'decarbonization' as the best way to 'build back better' from the coronavirus. Green activists and their Democratic standard-bearers should be more focused on the potential that the coronavirus crisis could undermine support for their cause. Here are the climate lessons from the pandemic: This is what a world without fossil fuels looks like. The lockdown of the U.S. economy beginning in mid-March temporarily choked off demand for crude oil and refined products, driving oil prices negative for the first time ever in April. In recent weeks, production declines have slowed as consumption patterns have started to return to normal with the lifting of quarantines." 

Energy Markets

 
WTI Crude Oil: ↓ $42.52
Natural Gas: ↓ $2.40
Gasoline: ~ $2.17
Diesel: ~ $2.42
Heating Oil: ↓ $124.16
Brent Crude Oil: ↓ $45.00
US Rig Count: ↓ 285

 
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