View this email in your browser
MORNING ENERGY NEWS  |  08/26/2020
Subscribe Now

The whole point was always to make electricity more expensive.


Pipeline (8/18/20) blog: "Afamous definition of insanity is doing the same thing over and over expecting a different result. California energy policymakers have been monomaniacal about imposing the “climate” agenda. California is presently imposing rolling blackouts due to a shortage of supply, for the second time in less than a year. Energy crises there are not infrequent, and policymakers only press for more in the wake of the havoc this wreaks. The insult to their own self-inflicted injuries is the demand that the rest of the country suffer under it, as well. Call it the 'Green New Deal' though, like most flops, it has already been re-branded, as 'Net Zero.' The climate agenda is not an agenda that claims it will impact the climate, so let’s get that out of the way up front. 'Climate,' in policy terms, means imposing energy scarcity.  This is done through price rationing – recall a presidential candidate boasting to the San Francisco Chronicle editorial board that 'electricity rates would necessarily skyrocket… because I’m capping greenhouse gases'? The key word wasn’t 'skyrocket,' it was 'necessarily.' It’s a feature of climate policy, not a bug. Call it a way to force seniors and the poor, indeed anyone on a low or fixed income, to choose between heating and eating."

"The two blackouts in less than a year are strong evidence that the tens of billions that Californians have spent on renewables come with high human, economic, and environmental costs."

 

Michael Shellenberger, Forbes

No surprise Joe forgot how much of a flop his 'green jobs' program was.


Washington Times (8/25/20) column: "Harkening back to the Green Jobs programs of his vice-presidential tenure, presidential candidate Joe Biden again commandeers the plight of the disadvantaged to funnel big bucks to the undeserving in his new climate plan. The Biden plan is chock full of 'climate justice' and is denominated in trillions of dollars, but the truly needy are just as likely to be pawns again, left behind by his new plan as they were by his old one. Eleven years ago, Mr. Biden was vice president and the Democrats controlled both chambers of Congress as well as the White House. Just as today, they dressed up a trillion-dollar power grab as a plan to help the down-and-out. Today it is climate justice, then it was green jobs. And that sure worked out nicely for the Wall Street financiers that backed the Obama-Biden ticket, but not so well for green-job seekers...Here is the lesson: The down-trodden are always invoked, but rarely helped by plans to reorganize industries and the economy. The Obama-Biden Stimulus Package failed on its green-jobs promise but did not fail to deliver hundreds of billions to the well-connected. Do not expect social justice to fare any better with the Biden Climate Plan."

The engine that will power the country out of the pandemic is America's energy producers...


The Express (8/14/20) column: "After months of sheltering in place, Americans are finally returning to their favorite restaurants, stores, and barbershops. We may not know what life after the coronavirus looks like, but one thing is certain. As life returns to normal, millions of Americans will rely on natural gas to refuel their cars and reopen their businesses. Fortunately, America’s energy sector was well prepared to survive the coronavirus outbreak. Having weathered the storm, natural gas producers will help get the economy humming in a way that benefits American consumers and the environment alike. COVID-19 certainly caused problems for America’s energy sector.  But even despite these recent setbacks, natural gas has proven quite resilient. U.S. natural gas prices have remained relatively steady over the past few months. And the U.S. Energy Information Administration expects average natural gas consumption to fall by less than 4 percent this year. This shouldn’t come as a surprise. America’s shale energy boom helped make natural gas the leading source of electricity nationwide."

...and Joe wants to unplug it.


Wall Street Journal (8/24/20) column: "Joe Biden has a message for the fossil-fuel workers he admits he’ll be putting out of work: I have an even better job for you. So why is the nation’s premier building-trade federation warning its members not to believe it? In July Mr. Biden released a climate agenda that vows a '100% clean energy economy' by 2050. That means largely eliminating coal, oil or natural gas by that date, and Mr. Biden would start by banning all drilling and hydraulic fracturing on federal land. He’d also create a carbon 'enforcement mechanism'—a carbon tax of some kind—to raise the cost of private fossil-fuel development. The Democratic nominee understands this risks alienating blue-collar energy workers in states like Pennsylvania and Ohio. So Mr. Biden is pitching his plan as an opportunity to create '10 million good-paying, middle-class, union jobs.' He’d have taxpayers spend $1.7 trillion in part to 'train all of America’s workforce to tap into the growing clean-energy economy,' including energy workers who will install 'millions of new solar panels and tens of thousands of wind turbines.' Oil riggers, you will be pleased to know, will seamlessly transition to solar technicians." 

Senate Democrats have had numerous opportunities to saddle American families with national energy taxes and rationing schemes. They would rather talk about "clean energy" instead. Ask Jay Inslee what happens when you bring this stuff up for a vote.


E&E News (8/25/20) reports: "Senate Democrats today issued a 260-page climate report recommending trillions of dollars in investments and a wide-ranging federal effort to slash greenhouse gas emissions, a preview of the party's priorities if it's able to claw back control of government in November. To reach net-zero emissions by 2050, the report says, the country will need a plethora of new regulatory policies and federal spending on climate that amounts to at least 2% of gross domestic product annually — roughly $400 billion based on current GDP estimates. 'Those who deny the scientific evidence threaten all of us, and the report makes clear that immediate, focused action is critical to avoid the worst climate effects and achieve a clean energy future,' Senate Minority Leader Chuck Schumer (D-N.Y.) said on a call with reporters this morning. The report, a product of the entirely Democratic Special Committee on the Climate Crisis, offers a look into Schumer's thinking ahead of a crucially important election for climate advocates. Should Democrats take back the Senate in November, progressives expect the party to make a play at major climate legislation or, at the very least, incorporate the issue heavily into the next Congress' response to the COVID-19 pandemic."

Energy Markets

 
WTI Crude Oil: ↓ $43.23
Natural Gas: ↑ $2.52
Gasoline: ↑ $2.20
Diesel: ↑ $2.42
Heating Oil: ↓ $124.73
Brent Crude Oil: ↓ $45.73
US Rig Count: ↓ 275

 

Friend on Facebook Friend on Facebook
Follow on Twitter Follow on Twitter
Forward to a Friend Forward to a Friend
Our mailing address is:
1155 15th Street NW
Suite 900
Washington, DC xxxxxx
Want to change how you receive these emails?
update your preferences
unsubscribe from this list