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MORNING ENERGY NEWS  |  11/16/2020
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Energy Independence Insurance 


Bloomberg (11/16/20) reports: "The Trump administration is rushing to issue permits, finalize major environmental regulations and even sell the rights to drill for oil in Alaskan wilderness before Inauguration Day in a push that could complicate Joe Biden’s climate and conservation agenda. The 11th-hour regulatory race underscores the extent to which federal agencies are anticipating Biden’s swearing-in as U.S. president on Jan. 20 even as President Donald Trump refuses to concede the election. It also reveals a widespread effort by Trump officials to leave their imprint on federal policy and -- at least temporarily -- tie the hands of their successors....Oil companies also can expect a few more chances to buy up drilling rights in other parts of the U.S., including during a Trump administration sale of coveted New Mexico territory Jan. 14. The last-minute push is essential, said Tom Pyle, the president of the American Energy Alliance, a free-market advocacy group that has cheered much of Trump’s deregulatory agenda. 'Even as President Trump and his legal team continue to explore their options, it is critical that his agencies to put a full-court press on getting the remainder of his agenda across the finish line as an insurance policy,' Pyle said. 'Joe Biden did not receive a mandate from voters to upend all the gains that President Trump made with respect to our energy independence.'"



“The climate crisis is just one symptom of a much larger crisis, [including] the loss of biodiversity, the loss of fertile soil but also including inequality and threats to democracy.”

 

– Greta Thunberg, Serial Truant

What, you didn't think the government would find a way to tax you?  That's cute.


Houston Chronicle (11/11/20) reports: "Power bills likely would rise next year for Texas consumers who get their electricity from wind, solar, coal and nuclear generation if the Legislature approves a bill filed this week. The bill from state Rep. Ken King would add 1 cent to every kilowatt hour of energy generated. The tax likely would be passed on to consumers, adding about $12 a month to bills for households that use 1,200 kilowatt hours of renewable power sources each month. Power generated from natural gas would be exempt from the tax. Wind produced about 20 percent of electricity last year in Texas, which is the nation's leader in wind power generation, and 47 percent came from natural gas, according to the state's grid manager, the Electric Reliability Council of Texas...Generators who fail to pay the tax could face a fine of up to $500. The tax would go to the state’s school fund, according to the proposed bill, which would take effect Sept. 1 if passed."

Lockdowns for thee but not for me, says HRM Nancy. 👑

More for me.


San Francisco Chronicle (11/12/20) reports: "When Residential Builders Association President Sean Keighran first heard about San Francisco Supervisor Rafael Mandelman’s proposal to ban natural gas in new construction, he was against it. The idea of a new building with all-electric heating and cooking appliances seemed far-fetched and costly. Plus it was far from clear that food-centric Bay Area consumers would be willing to give up the fiery satisfaction of a gas range for the cool efficiency of an electric induction stovetop. Natural gas accounts for roughly 40% of San Francisco’s overall emissions of greenhouse gases and 80% of building emissions. Requiring cleaner, all-electric buildings in new construction will increase building safety, reduce emissions citywide and improve indoor air quality, Mandelman said. A 2018 executive order from then-Gov. Jerry Brown mandates that the state reach carbon neutrality by 2045 and maintain net negative emissions after that. The measure will extend to buildings that apply for a building permit after June 1. Planned buildings with retail spaces are exempt from the all-electric transition until Jan. 1, 2022, and after that may apply for a waiver to construct a mixed-fuel building to allow flexibility for restaurants. Existing restaurants will not be required to turn off their gas burners. In a statement, the Golden Gate Restaurant Association said: 'We completely understand the need for a focus on the reduction of greenhouse emissions. However, we have real concerns that a gas ban in new buildings would put additional restrictions on the spaces available for restaurants.'" 

Won't come back from DeadBolt curve... 


E&E News (11/16/20) reports: "General Motors Co. announced a voluntary recall last week of more than 68,000 electric vehicles worldwide due to five reports of potential battery fires. The move adds to a string of fire incidents involving batteries used in electric vehicles and with energy storage. In August, a utility in Arizona released a report finding a defective battery cell sparked an explosion in an energy storage facility last year. BMW and Hyundai also issued EV recalls this year because of battery fire concerns. The GM recall applies to the Chevrolet Bolt — the only electric car from GM currently available in the U.S.— with 2017-2019 model years, the company said. Of the 68,667 affected cars, 50,925 were sold in the U.S., according to GM. The National Highway Traffic Safety Administration is investigating the incidents, and GM hopes to fully remedy the problem by early next year, the Detroit-based automaker said in a statement. 'The safety of our products is the highest priority for the entire GM and Chevrolet team,' GM said. 'We are working around the clock on our continued investigation.' The news comes as GM aims to transition to an all-electric car company that it says will rival Tesla Inc. The company announced earlier this year that it plans to roll out 12 new EV models by 2023" 

Energy Markets

 
WTI Crude Oil: ↑ $41.90
Natural Gas: ↓ $2.86
Gasoline: ↑ $2.12
Diesel: ↓ $2.38
Heating Oil: ↑ $125.00
Brent Crude Oil: ↑ $44.43
US Rig Count: ↑ 365

 
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