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MORNING ENERGY NEWS  |  08/31/2020
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Not that there is ever an ideal time to bureaucratically impose a tax on all aspects of life.


Pennsylvania Business Report (8/28/20) reports: "Representatives from several industries gathered at a rally Wednesday at the Cheswick Power Plant in Springdale in voice opposition to Pennsylvania joining the Regional Greenhouse Gas Initiative (RGGI). Speakers at the event included state Sen. Gene Yaw (R-Lycoming), Senate Environmental Resources & Energy Committee chairman; state Sena. Joe Pittman (R-Indiana/Armstrong/Westmoreland); state Rep. Jim Struzzi (R-Indiana); state Rep. Pam Snyder (D-Greene/Fayette); Kevin Panzino, Cheswick Generating Station plant manager; Kenn Bradley, IBEW Local 29 business manager; and Shawn Steffee, Boilermakers Local 154 business agent. Inclusion in RGGI could lead to the closure of several power plants, critics say, because it would create a carbon tax on air emissions from fossil-fueled power plants...The Power PA Jobs Alliance, a coalition of labor, management, and consumer stakeholders that oppose carbon tax proposals, disputes the DEP’s claim that cutting carbon dioxide pollution from power plants would save billions of dollars and hundreds of lives."

"When the sun goes down, which I understand happens every evening, solar cells are worthless. So California has to buy energy on the spot market—sometimes for 10 times normal prices when it’s hot. So we get rolling blackouts. This craziness could be yours too in the near future. Get used to higher bills and resetting your clocks."

 

– Andy Kessler, Wall Street Journal

2020 vision on the path forward.


E&E News (8/28/20) reports: "On the 2016 campaign trail, then-presidential hopeful Donald Trump embraced coal, oil and gas and pledged an era of U.S. energy dominance with fossil fuels taking center stage. That pitch has been muted by the rise in renewables, an oil crash and a pandemic barring the president from the campaign events that hallmarked his first run. So what's Trump's second-term energy agenda? Fossil fuels remain a big deal for the president, who lambasted Democratic nominee Joe Biden at the Republican National Convention on Monday night for his plan to ban hydraulic fracturing on federal land. But the White House has offered few details on the president's overall energy game plans...'They're going to continue to move the ball forward,' said Tom Pyle, president of the American Energy Alliance, who led Trump's DOE transition team. 'Trump believes strongly that energy production at home is a good thing, that it makes us secure, it gives us soft power around the world.' Pyle said the contrast between Trump and Biden is so stark on energy that 'just by getting reelected, you're not going to spin the whole ship back in the opposite direction.'"

The only thing NY's 'people mover' would move is money out of taxpayers' pockets. 


Cato Institute (8/26/20) blog: "A proposed new 2‐​mile transit line connecting LaGuardia Airport with the New York subway system will cost $2 billion, make traffic congestion worse, dump 87,000 metric tons of greenhouse gases into the atmosphere, and probably isn’t necessary due to the pandemic. The first three conclusions come from a draft environmental impact statement (DEIS) released last week by the Federal Aviation Administration, while the fourth is based on the huge changes in transportation habits that have already taken place as a result of the pandemic...How well does getting 3.9 percent of people out of their cars and onto transit relieve congestion? According to the traffic analysis conducted for the DEIS, it doesn’t. The analysis modeled traffic at a variety of intersections and highways around the airport and found that building the people mover would result in more intersections and roads whose traffic would be rated E (which is really crowded) or F (which is near‐​gridlock) than if the line isn’t built. So it fundamentally fails to meet its primary purpose, which is to relieve congestion."

Someone should tell California about this!


OilPrice.com (8/26/20) reports: "Increased electricity demand amid higher summer temperatures and lower natural gas prices sent natural gas-fired power generation in the Lower 48 states to a record 36 gigawatts (GW) on July 27, the Energy Information Administration (EIA) said on Wednesday. The so-called natural gas power burn­—the natural gas consumed by power plants—hit a daily record of 47.2 billion cubic feet (Bcf) on the same day, the EIA has calculated, based on S&P Global Platts estimates. Before July 27 this year, the previous daily record for natural gas power burn in the United States was set on August 6, 2019, when power plants consumed a total of 45.4 Bcf of natural gas. This year, natural gas power burn exceeded 45.4 Bcf per day on seven days in July 2020 and one day in August, the EIA said, attributing the records to the heat wave, lower gas prices compared to the summer of 2019, and growing natural gas-fired capacity across the United States...Abundant and relatively low-priced natural gas – with natural gas power capacity flexible to meet peak demand unlike some renewable and nuclear capacities – has been displacing or replacing coal-fired power generation in the U.S. in recent years." 

Energy Markets

 
WTI Crude Oil: ↑ $43.26
Natural Gas: ↓ $2.53
Gasoline: ↑ $2.23
Diesel: ↓ $2.42
Heating Oil: ↑ $121.93
Brent Crude Oil: ↑ $46.10
US Rig Count: ↓ 273

 
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