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MORNING ENERGY NEWS  |  9.16.2019
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...meanwhile, in the Middle East


Wall Street Journal (9/15/19) reports: "Crude prices surged Sunday evening following an attack on Saudi Arabia’s oil infrastructure and an announcement from President Trump that he has authorized the release of oil from the Strategic Petroleum Reserve...A sustained spike in fuel prices could mark the latest threat to a world economy already under significant pressure from the U.S.-China trade war. It could also impact stocks in the U.S., where resilient consumer spending has helped lift major indexes near records. Higher energy prices can raise gas and heating bills, cutting into available income...The outsize moves also illustrated the fragility of the oil market, which has increasingly been controlled by passive funds and trend followers as commodity funds focused on supply and demand have closed in recent years. Analysts said funds closing bets that oil prices would fall to limit losses could exacerbate market swings if the surge continues."



"We unleashed American energy.  And next year, the United States will be a net export of energy for the first time in 70 years."

 

– Mike Pence, Vice President 

Alexa, how do you spread the Yellow Vest movement to every country in the European Union?


Reuters (9/13/19) reports: "The European Union is considering new energy taxes, including on the aviation sector, to meet its climate targets, top officials said on Friday, with Germany calling for “drastic steps” to reduce carbon emissions. Over the last decade, EU countries have led a global shift towards renewable energy and set up the world’s largest emissions trading system to price carbon and reduce reliance on more polluting fuels. However, the bloc’s rules on energy taxation have not changed for more than 15 years...The bloc’s top economic commissioner, Valdis Dombrovskis, told reporters that options also included a carbon tax and an overhaul of energy taxation. Among possible measures listed in a document prepared by the Finnish presidency of the EU are higher minimum tax rates on energy, fossil fuel levies and the end of waivers for the air and sea transport sectors."

What school kid in America wouldn't be a "climate activist" if they got to ditch school without consequences? 

With Miami on the verge of being submerged, property values must be plummeting.


Washington Examiner (9/13/19) reports: "Rep. Alexandria Ocasio-Cortez predicted that Miami will no longer exist in just a couple of years if the Green New Deal is not passed. 'When it comes to climate change, what is not realistic is not responding with a solution on the scale of the crisis — because what's not realistic is Miami not existing in a few years,' the New York Democrat said Wednesday at an NAACP forum. 'So we need to be realistic about the problem.' Ocasio-Cortez, 29, touted the Green New Deal as the solution to that problem. The freshman lawmaker rolled out the proposal in February, which was widely criticized for an FAQ section that advocated for ending air travel and meat production. Ocasio-Cortez said the section was not meant to be published and blamed a staffer who 'had a really bad day at work.'"

Yeah, about that.


Norada (6/28/19) blog: "According to a report published by Zillow in Dec 2017, Miami was the country’s fourth most valuable housing market. Trailing only Los Angeles (total value of $2.7 trillion), New York (2.6 trillion), and Washington (996.7 trillion), the total value of Miami’s housing market is an estimated $864.2 billion, which represents a solid 4.7 percent increase year over year...The Miami housing market forecast for the 3 years ending with the 3rd Quarter of 2021 is also positive. The accuracy of the Miami housing market trend prediction is 77%. Accordingly, LittleBigHomes.com estimates that the probability for rising home prices in Miami, FL is 77% during this period. If this Housing Market Forecast is correct, home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018. Miami Beach real estate market trends indicate an increase of $17,500 (5%) in median home sales and a 0% rise in median rent per month over the past year." 

Energy Markets

 
WTI Crude Oil: ↑ $59.49
Natural Gas: ↑ $2.66
Gasoline: ↓ $2.56
Diesel: ↓ $2.92
Heating Oil: ↑ $200.35
Brent Crude Oil: ↑ $65.50
US Rig Count: ↓ 920

 
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