Your Morning Energy News

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MORNING ENERGY NEWS | 10/21/2020
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** America has all the energy we'll ever need. Biden wants to keep it in the ground.
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Daily Caller ([link removed]) (10/20/20) reports: "Dan Doyle, the president and owner of Reliance Wells Services, spoke with the Daily Caller’s Samantha Renck about Vice President Joe Biden’s past comments on fracking, President Trump’s chances in Erie, PA and more. 'U.S. energy production in 2019 was higher than U.S. energy consumption for the first time in 62 years,' according to the Institute for Energy Research, ([link removed]) raising questions over the country’s involvement in the Middle East and other areas abroad. 'We don’t have to run to the Middle East to meet our energy means anymore. I mean — we’re producing it here,' Doyle said. 'We don’t have to go begging. We don’t have to befriend dictators.' He continued, 'we don’t have to do that anymore. We have it right here.' 'I
think the stance what is said is one thing and what is done is another,' he said. 'I think that was the posture during the Obama Administration and I don’t expect much different.' Doyle discussed more about a possible Biden-Harris presidency’s on the energy industry, his message to the president and more."

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"American politics are more irrational now than they were during the Obama years. And it isn’t clear that Biden administration regulators would care about relevant realities."
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– Steve Milloy, Wall Street Journal ([link removed])

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Protect retirees! Vote for energy.

** National Review ([link removed])
(10/20/20) reports: "In an age characterized by the politicization of virtually everything, it is unsurprising to see political pressures exerted upon the managers of investment funds established for the financial benefit of current and future retirees. These funds are large repositories of financial resources, and for many the temptation is strong to find ways to divert those dollars toward a furtherance of their preferred political goals. 'Environmental, social, and governance' (ESG) objectives are prominent among them: efforts to substitute political investment criteria in place of the narrow fiduciary interests of the current and future retirees. Examples are divestment and/or avoidance of fossil-fuel investments as part of a political 'climate' agenda, investments in producers of firearms, military goods and services, tobacco and alcohol products, firms failing some numerical test of 'diversity' or a specified ratio of executive to workforce compensation, or a subjective test of
management/union relations, and on and on...The fiduciary interests of current and future retirees are defined narrowly and clearly in the 1974 Employee Retirement Income Security Act (ERISA). In a nutshell, the law makes it clear that the proponents of ESG objectives and other such political and policy goals must do so with their own dollars; playing political games with retirees’ financial wellbeing is inconsistent with the law."
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The moment when E&E nuked the shark.

** E&E News ([link removed])
(10/20/20) reports: "If President Trump wants to shake up the final weeks of his reelection campaign by lobbing a nuclear weapon into a storm, nothing can stop him. Trump has reportedly said on multiple occasions that bombing hurricanes may be an effective way to disrupt storms, Axios has reported. And while there have been no recent indications to suggest that Trump would embrace the far-fetched scenario, the president has built his career on ostentatious displays of the unexpected. There are essentially no guardrails on Trump if he decides to flout scientific expertise and bomb a hurricane, said Tom Nichols, a professor at the U.S. Naval War College and a nuclear policy expert, speaking in his personal capacity. In fact, the system is designed to enable Trump to use nuclear weapons, not prevent him."

Ahh... I love fall, when the days get cooler and the blades drop from the wind turbines.

** Des Moines Register ([link removed])
(10/20/20) reports: "MidAmerican Energy says it has idled nearly four-dozen electricity-generating wind turbines while workers check them for safety after blades broke off of two similar turbines over the past two months. Those blade failures follow a break earlier this year and one in 2019. MidAmerican, a Des Moines-based subsidiary of Warren Buffett-owned Berkshire Hathaway, said Tuesday it has paused the use of 46 turbines it has identified as having blades like the ones that broke. The blades, upwards of 175 feet long, broke somewhere along their length and not at the base, the company said. On Thursday, MidAmerican said, a technician discovered that a turbine blade had fallen into a harvested field southeast of Paton in Greene County. The technician went to the Beaver Creek wind farm after its monitoring system detected a problem with the turbine, the company said in a statement. MidAmerican said a blade also broke off a turbine and fell into a cornfield in September at its Arbor Hills
wind farm in Adair County. MidAmerican experienced earlier problems with blades that broke from turbines in April of this year and October 2019, both at the company's Orient wind farm, also in Adair County."

Energy Markets


WTI Crude Oil: ↓ $40.98
Natural Gas: ↑ $3.03
Gasoline: ~ $2.16

Diesel: ~ $2.27
Heating Oil: ↓ $115.82
Brent Crude Oil: ↓ $42.48
** US Rig Count ([link removed])
: ↑ 329



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