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MORNING ENERGY NEWS  |  09/28/2020
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The mental gymnastics it takes to endorse a Green New Dealer as 'pro-business' is staggering. 


Grist (9/22/20) reports: "Historically, the U.S. Chamber of Commerce has not been a friend to climate activists. The world’s largest pro-business lobbying group has pushed against clean air and water regulations, criticized the Kyoto Protocol as 'bad for the American economy, American workers, and American families,' and roundly rejected the science of human-caused climate change...So many business leaders were surprised when, after contributing millions of dollars to Republican climate deniers over the years, the Chamber of Commerce announced last month that it was endorsing nearly two dozen first-term Democratic candidates for Congress, including two in highly competitive toss-up races...Still, the U.S. Chamber’s Democratic endorsements have not sat well with many of the lobby’s more conservative members. Chad Warmington, Oklahoma State Chamber of Commerce CEO and president, wrote a scathing letter based on Horn’s energy platform. 'I question how the U.S. Chamber could endorse a candidate who consistently voted against the largest industry in Oklahoma,' he wrote in August. 'That is hardly a pro-business record.' One member of the U.S. Chamber, Allen Wright, resigned in protest over Horn’s endorsement, and her constituents have accused her of voting '96 percent of the time with the Pelosi agenda.'"

"While development of wind farms may be politically fashionable and appeal to many in the general public as a harmonization of nature with electricity production, the science and economics indicate powering modern civilization with intermittent generation resources like wind and solar power comes at a high financial and environmental cost."

 

– Benton Public Utility District

Governor Newsom's new transport plan...ride a donkey to the poorhouse! 


Wall Street Journal (9/25/20) column: "You may have heard that California has been struggling to keep the lights on as its anti-carbon mandates reduce the supply of base electric power. Gov. Gavin Newsom now wants to bring that same genius to transportation with an executive order banning the sale of gas-powered cars in the state by 2035. Mr. Newsom acknowledged last month that his state’s mandate requiring that 60% of electricity come from renewables by 2030 and 100% by 2045 had resulted in a power shortage and left millions of Californians in the dark amid a grueling heat wave. Yet a government that can’t guarantee reliable power now wants to require its citizens to buy electric cars on a technological flyer. If Californians want to buy EVs, fine with us. But even the Golden State’s Democratic Legislature killed a gasoline-car ban two years ago lest it hurt them among low-income voters who can’t afford expensive electric cars even with $12,000 in federal and state subsidies. Many gas stations are owned by minorities, and Mr. Newsom’s order would eventually put them out of business."

China's 'road map' to carbon neutrality might as well be a map to Atlantis.


Bloomberg (9/27/20) reports: "The most ambitious climate goal the world’s ever seen now has a road map for how to arrive at it. One of China’s top climate research institutes on Sunday laid out a plan of increasing renewable and nuclear energy and completely phasing out coal power. It’s the first blueprint from a government-affiliated group showing how the country might become carbon neutral by 2060, a goal laid out by President Xi Jinping last week in a speech to the United Nations. The plan, from Tsinghua University’s Institute of Energy, Environment and Economy, entails a more gradual transition over the next decade and a half, with a rapid acceleration after 2035. The institute works closely with the Ministry of Ecology and Environment on projecting long term goals. It also works with a separate climate research institute at Tsinghua run by Xie Zhenhua, who led China’s climate policies and represented the country in international climate negotiations for more than 10 years."

This pick is ruffling all the right feathers. 


E&E News (9/26/20) reports: "President Trump today selected Amy Coney Barrett to fill the seat of the late Justice Ruth Bader Ginsburg on the nation's highest bench. If confirmed, Barrett, 48, will become the Supreme Court's sixth Republican-appointed justice, replacing one of the court's most liberal members and deepening a conservative majority on the bench that could affect the outcome of environmental litigation for decades. 'The courts in general and the Supreme Court in particular are not going to be much help on confronting the major environmental challenges we face,' Vermont Law School professor Pat Parenteau wrote in an email. Barrett accepted the nomination at the White House this afternoon, highlighting Ginsburg's achievements on the high court. 'She not only broke glass ceilings,' Barrett said of Ginsburg. 'She smashed them.' Barrett's record on environmental and energy issues is largely undeveloped, but several environmental groups voiced concern about Barrett's narrow view of public interest groups' power to sue in opinions she wrote as a judge for the 7th U.S. Circuit Court of Appeals, where she has served since 2017." 

Energy Markets

 
WTI Crude Oil: ↑ $40.75
Natural Gas: ↑ $2.07
Gasoline: ~ $2.18
Diesel: ~ $2.39
Heating Oil: ↑ $113.97
Brent Crude Oil: ↑ $42.34
US Rig Count: ↑ 303

 
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