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DAILY ENERGY NEWS  |  11/04/2020
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Let's keep on lookin' for the light.


E&E News (11/4/20) reports: "There was no declared winner in a bitterly divided presidential contest early today, as vote tallies were still out for a number of pivotal states, including Pennsylvania — where energy played a critical role in the closing days of the campaign. President Trump declared victory for himself early this morning over rival Joe Biden, but millions of votes had yet to be counted in a number of key swing states that could decide the contest...Analysts said the race between the two presents the starkest divisions on energy issues in recent memory, with Trump discounting climate change and pledging continued efforts to promote U.S. oil and gas development. Biden, by contrast, has called global warming an "existential threat" and is pushing to move away from emission-producing fossil fuels into green energy...Trump seized on Biden's remarks at the final presidential debate that he would 'transition from the oil industry' to repeatedly hammer him. Two Democrats who had sought to distance themselves from Biden's remarks, Rep. Xochitl Torres Small (D-N.M.), and Rep. Kendra Horn (D-Okla.), lost their tight races in oil-producing states, giving House Republicans valuable pickups."

"Draconian climate policies disadvantage minority communities."

 

– Rupert Darwall, Real Clear Energy

Buffett's railroad, tanker car business and tanker leasing companies stick the shiv into the competition, using Bolshevik Greens to do the dirty work.


Daily Caller (11/2/20) reports: "Roughly 700 activists were arrested in 2016 for protesting the construction of the Dakota Access Pipeline, an underground oil pipeline connecting the Bakken shale oil fields in northwest North Dakota with a storage facility in Illinois. Hundreds of those arrested were freed from jail by one man – an obscure 26-year-old from a small town in Oregon – who admits to paying more than $100,000 in cash bond payments. The mysterious payments, obtained by the Daily Caller, appear to be linked to radical environmental groups funded, in part, by Warren Buffett, who had a personal financial stake in preventing the construction of the pipeline...Haythorn was involved in an intricate network of nonprofits funded by a wide array of donors – including some of the richest individuals and foundations in the world...The Buffett family’s interest in the fight to stop the Dakota Access Pipeline appears to go beyond environmental concerns or the desire to preserve tribal lands. Buffett, who donated almost the entire $182 million in funding the NoVo Foundation received in 2018, is the chairman and largest shareholder of Berkshire Hathaway. The holding company owns BNSF (formerly the Burlington Northern and Santa Fe Railway), a railroad with existing infrastructure capable of delivering oil and natural gas from North Dakota to oil terminals in the Midwest."

Au revoir, Paris!


Bloomberg (11/4/20) reports: "The U.S. has officially become the first nation to quit the Paris climate agreement, even as the outcome of the country’s presidential race remains undetermined. President Donald Trump, who’s fighting for re-election, moved to withdraw from the landmark environmental accord exactly one year ago, abandoning a global effort to curb carbon emissions and slow global warming. The U.S. exit formally took effect Wednesday, the day after the vote...The U.S. is exiting the Paris Agreement as soon as it can. Trump announced in 2017 his intention to pull out, but couldn’t start the process until a year ago. Under the terms of the deal signed in 2015 by Obama, nations weren’t allowed to make exit plans until three years after the pact entered into force, on Nov. 4, 2016. It’s designed to be harder to leave than it is to join. Re-entry would take effect 30 days after Biden notifies the United Nations of his intent in writing. That means the earliest Biden would be able to officially rejoin the deal would be Feb. 19, a month after he takes office." 

Adding more intermittent wind turbine's to the British coast ought to do the trick... 🙄


Reuters (11/4/20) reports: "Britain’s National Grid has send out an electricity margin notice (EMN) for Wednesday evening as it seeks to increase spare capacity amid a tight power system. National Grid is responsible for ensuring supply and demand are balanced in Britain’s energy systems. 'While we have enough generation to meet demand, we’ve issued an electricity margin notice (EMN) for tomorrow evening.' 'the company said on Twitter late on Tuesday. For the period from 1630 to 1830 GMT the system margin was expected to show a shortfall of 740 megawatts, excluding any available balancing reserves, a system warning message specified. Earlier on Tuesday, it had issued another tweet to warn of tight margins on the electricity system on Wednesday due to low renewable power output and concerns over sufficient availability of generators for periods of high demand."

Energy Markets

 
WTI Crude Oil: ↑ $38.61
Natural Gas: ↓ $3.02
Gasoline: ↓ $2.11
Diesel: ~ $2.36
Heating Oil: ↑ $115.67
Brent Crude Oil: ↑ $40.72
US Rig Count: ↑ 351

 
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