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MORNING ENERGY NEWS | 9.4.2019
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** They simply don't care what it costs the average family.
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Washington Examiner ([link removed]) (8/29/19) reports: "What happens next with America’s natural gas revolution depends in part on the regulatory ambitions of a multi-state government commission and its relationship with environmental activists. In May 2010, the Delaware River Basin Commission, headquartered in West Trenton, New Jersey, imposed what is best described as a de-facto ban on the process of hydraulic fracturing in parts of Pennsylvania and New York. The commission lists three main concerns it has with natural gas drilling exercises that relate to water quality. Since the ban went into effect, the commission has released draft regulations to govern hydraulic fracturing in the Delaware River Basin. Environmental activists and their allies in government have predictably said the regulations do not go far enough. There have been thousands of public comments submitted to
the commission, but the process appears very weighted toward green groups working to block any future natural gas development in Pennsylvania."


** "Prices aren't arbitrary impositions based on how mean, greedy, or generous a businessperson feels upon waking up in the morning. They transmit crucial knowledge about what is wanted where and how urgently. Price gouging laws are effectively knowledge embargoes that keep people positioned to help from getting the message."
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– ([link removed]) A ([link removed]) rt Carden, American Institute for Economic Research ([link removed])

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Elon swaps cowhide for polyurethane to cut costs, but you’ll still buy it because you are saving the planet.

** The Mercury News ([link removed])
(9/3/19) reports: "Tesla has already made the Model 3 the most important car with regards to the company’s future. Now, Tesla wants you to think that the Model 3 is the best car for feeling good about yourself when you buy the electric vehicle. Over the Labor Day weekend, Tesla said its Model 3 sedan is now '100% leather-free.' The move comes after CEO Elon Musk said at the company shareholders’ meeting in June that a leather-free version of the car was in the works...Tesla said its Model 3 cars will now come with interiors that have synthetic leather on seats, trim panels, the dashboard and other area. All of Teslas car seats are also manufactured in-house by the company. Tesla has also said its Model Y crossover vehicle will come with a leather-free interior when it makes its debut next year."

No one's interested in EVs...unless someone else is footing to bill.

** Bloomberg ([link removed])
(9/3/19) reports: "Global electric-car sales fell for the first time in modern history in July after China scaled back purchase subsidies, highlighting the role government assistance is having on the burgeoning market. Monthly sales worldwide fell 14% to about 128,000 plug-in passenger electric vehicles, Sanford C. Bernstein said in a report Tuesday. Sales declined in China and North America, while rising in Europe...Growth in China, the biggest producer and market for electric vehicles, is slowing down as a reduction in EV subsidies and a cooling economy weigh on consumers’ buying decisions. China’s government scaled back funding for individual purchases of new-energy vehicles starting June 26 to encourage carmakers to focus on product innovation...'Unsurprisingly the growth momentum halted in July amid subsidy cuts,' Bernstein analysts said in the report."

You've heard of snow days, now get ready for dead battery days.

** E&E News ([link removed])
(9/3/19) reports: "Virginia's largest utility, Dominion Energy Inc., said last week that it plans to underwrite the country's largest transition to electric school buses in exchange for the right to use the buses' batteries as a grid resource. Under the last phase of Dominion's plan, Virginia's school districts would stop buying diesel buses entirely by 2030. It would also include one of the largest utility demonstrations of the 'vehicle-to-grid' concept, in which electricity is stored in the batteries of idle buses and routed back into the grid during times of peak use."

Private jet trips for me, staycations for thee.

** The Hill ([link removed])
(9/3/19) reports: "Prince Harry is partnering with travel companies in a sustainability initiative unveiled Tuesday. The initiative, called Travalyst, focuses on the travel industry's impact on climate change, as well as improving wildlife conservation and finding ways to better protect the environment in popular tourist spots, The Associated Press reports. The announcement follows criticism Harry and his wife Meghan, who are the Duke and Duchess of Sussex, respectively, received after the royal couple, who are outspoken figures on environmental issues, used private jets for trips to the south of France and Ibiza, Spain, just days apart. The prince traveled to Amsterdam on a commercial flight to unveil the new initiative, CNN reports. He also addressed his private jet use in a question and answer session. He reportedly said he spends '99 percent' of his life traveling commercial, but 'occasionally there needs to be an opportunity based on a unique circumstance to ensure that my family are
safe.'"

Not even Californians can play pretend about 'green jobs' in good conscience anymore.

** Politico ([link removed])
(9/3/19) reports: "California's mixed record of using public investments and environmental mandates to create 'green jobs' raises serious questions about the promises of some Democratic presidential candidates to use economy-transforming investments in environmentally friendly technologies to put millions of people to work. Many of the initiatives touted by the candidates in their environmental plans are already in place in California, and some of them having been promoted as important engines of job creation. But California stopped counting green jobs in 2013, struggling to separate truly new jobs from existing employment growth...As California's experience shows, reality doesn't always live up to projections. And while some of the most conservative estimates, like Warren's and Steyer's, appear reasonable based on California's record, the state's experience also reveals just how modest — and unimpressive — those goals would be for a 10-year period...'"Green jobs" is a strange and somewhat
elusive category' said University of California, Davis economist Dave Rapson."

Energy Markets


WTI Crude Oil: ↑ $54.47
Natural Gas: ↓ $2.35
Gasoline: ~ $2.57

Diesel: ↓ $2.92
Heating Oil: ↑ $181.79
Brent Crude Oil: ↑ $58.62
** US Rig Count ([link removed])
: ↓ 938



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