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MORNING ENERGY NEWS | 10/08/2020
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** The corporate press is the enemy of the people. CNN and the others can lie all they want, we have the tapes.
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CNN ([link removed]) (10/8/20) reports: "Pence claimed that the Biden campaign wants to 'ban fracking.' Facts First: This is misleading. Biden is not running on a proposal to completely ban fracking (hydraulic fracturing, a drilling method used to extract natural gas or oil). However, there is at least some basis for Pence's claim: During the Democratic primary, Biden sometimes suggested he was proposing to get rid of all fracking. He's also pledged to 'establish an enforcement mechanism to achieve net-zero emissions no later than 2050,' which would almost certainly require a significant reduction in fracking. Biden's written plan never included a full ban on fracking; rather, it proposes 'banning new oil and gas permitting on public lands and waters,' not ending all new fracking anywhere or ending all existing fracking on public lands and waters. Biden has explicitly said he does not support a nationwide
fracking ban (though in part because he doesn't believe such a ban would pass). Biden created confusion about his stance with some of his comments during the Democratic primary. For example, he had this exchange with CNN's Dana Bash during a July 2019 debate: Bash: 'Thank you, Mr. Vice President. Just to clarify, would there be any place for fossil fuels, including coal and fracking, in a Biden administration?' Biden: 'No, we would -- we would work it out. We would make sure it's eliminated and no more subsidies for either one of those, either -- any fossil fuel.'"

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** "What’s remarkable is the United States has reduced CO2 more than the countries that are still in the Paris Climate Accord, but we’ve done it through innovation. And we’ve done it through natural gas and fracking, which Senator, the American people can go look at the record."
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– Vice President Mike Pence ([link removed])

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When Joe says he 'won't ban fracking' what he means is his climate czar will be the one to issue the actual order.

** Bloomberg ([link removed])
(10/7/20) reports: "Democrat Joe Biden is considering creating a special White House office led by a climate 'czar' to coordinate efforts to fight global warming if he is elected president, according to people familiar with the deliberations. Among the candidates being discussed to head the operation are former Secretary of State John Kerry, who helped broker the landmark Paris climate accord, and Jay Inslee, the governor of Washington who ran for the Democratic nomination on climate issues, according to the people, who asked for anonymity to discuss non-public deliberations. John Podesta, President Bill Clinton’s White House chief of staff, has also been mentioned...A new high-level climate office would signal to Biden’s supporters that he’s making the issue a top priority. And a climate czar could help promote a coordinated, whole-of-government approach to confronting the challenge...A representative of the Biden campaign declined to comment. Biden has already signaled he’s receptive to
the approach, having floated the idea in April of a creating a new cabinet-level position on climate that 'goes far beyond the EPA.'"

Do they actually expect anyone to believe them when they claim California's problems were unforeseeable?

** E&E News ([link removed])
(10/8/20) reports: "Rotating power blackouts in August exposed California officials' failure to align clean energy and grid reliability goals with the escalating threats from climate change, a report by state regulators has found. The outages cut off power to a total of 812,600 customers on Aug. 14 and 16, as a siege of temperatures across the West exceeding 100 degrees Fahrenheit pushed California's grid to its limits...The consensus report echoed the complaint by California ISO, operator of most of the state's power system, that CPUC, the grid rate-setter and regulator, had not secured enough power generation or other resources to manage a critical time of day: sunset, when demand is still strong but solar power is dropping rapidly. 'In transitioning to a reliable, clean and affordable resource mix, resource planning targets have not kept pace to lead to sufficient resources that can be relied upon to meet demand in the early evening hours,' the report stated. California ISO has been
working with the other two commissions since 2016 to investigate the impacts of significant renewable penetration on the grid, the report said. It did not discuss why planning failed to consider the challenges of increasing renewable energy."

Clearly, union leadership doesn't care about the future of its membership. Or, maybe they're just hoping to avoid the jail time that Joe has promised for industry workers.

** Washington Examiner ([link removed])
(10/6/20) reports: "Joe Biden has persuaded some leaders of fossil fuel-heavy building trade unions in Pennsylvania that his climate policies won’t harm them, a key development in a swing state expected to be decided by small margins. 'When Biden clarified his position on fracking, it was a pretty easy choice to endorse him for president,' said Jim Kunz, business manager of the International Union of Operating Engineers for Local 66, covering Pittsburgh. 'After a personal conversation with the man, I feel confident our work will continue in the fossil fuel industry. He understands how important that is to western Pennsylvania.' Biden has visited western Pennsylvania in recent weeks and made frequent statements assuring he won’t ban fracking and distanced himself from the liberal Green New Deal...Recent polling of natural gas-producing counties of western Pennsylvania and eastern Ohio shows Biden has not been entirely successful clarifying his position. A poll by ALG Research of 500 likely
voters in Ohio and Pennsylvania showed voters in those counties don’t know where Biden stands on energy, with 22% saying he is pro-natural gas, 42% saying he is anti-natural gas, and 36% not sure. Unsurprisingly, a larger percentage, 65%, are sure Trump is pro-natural gas."
** ([link removed])

Energy Markets


WTI Crude Oil: ↑ $40.80
Natural Gas: ↓ $2.54
Gasoline: ~ $2.18

Diesel: ~ $2.38
Heating Oil: ↑ $118.58
Brent Crude Oil: ↑ $42.91
** US Rig Count ([link removed])
: ↓ 311



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