View this email in your browser
MORNING ENERGY NEWS  |  11/19/2020
Subscribe Now

The pandemic is just a bump in the road, and these guys know it. 


S&P Global (11/18/20) reports: "The twin challenges of low oil prices and uncertain demand recovery that has resulted from the coronavirus pandemic this year – which with more clarity might lift prices somewhat –did not appear to dampen operator enthusiasm for obtaining US Gulf of Mexico acreage during that region's offshore lease sale Nov. 18. The event, Sale 256, not only bested total high bids from the previous such event, taking in nearly $120.9 million in total high bids during the day's auction, compared to $93 million captured during Sale 254 in March 2020, but showed deepwater is still alive and kicking from numbers of million- and multimillion-dollar individual bids. The total sum of all bids – which included bids that apparently were not winning amounts – was $135.5 million, according to sale sponsor US Bureau of Ocean Energy Management records. About 94% of that amount was directed to tracts in waters 800 feet or greater. In all, 23 participating companies placed bids on 105 bids across 93 tracts in Sale 256, against 84 bids on 71 blocks in the March 2020 sale."

"This is not ‘building back better’, as Boris would have it; it is building back according to the wishes of green-blob lobbyists [and] billionaires’ pet ‘civil society’ organizations."

 

– Ben Pile, Spiked

Two months, 42,000 applications, 267 approvals, and £4 billion more.


Bloomberg (11/18/20) reports: "Amid the fanfare of Boris Johnson’s green industrial 10-point plan on Wednesday was a tacit admission that some climate friendly policies are harder to roll out than others. The government extended by a year its 3 billion pounds ($4 billion) Green Homes Grant as government officials struggle to work through tens of thousands of applications piling up. Two months after the program started, the government has only issued 267 vouchers, according to a spokesman for the prime minister’s office in London. Officials in the Department for Business, Energy and Industrial Strategy are working through the 42,000 applications that they’ve received. It’s the second time the government has struggled to make a success of a domestic home insulation program. In 2015 ministers abandoned the Green Deal, which attached the cost of loan repayments onto a property after low take up."

Fresh off a Big Tech blacklist Clear Energy Alliance is back with another great video. Check out the video Google doesn't want you to see!

"The war is not meant to be won, it is meant to be continuous."


Master Resource (11/19/20) blog: "The United Nations Conference of Parties (COP 26) concludes this week from Glasgow, UK. The general consensus is that no progress was made–and all will try again November 1–12, 2021, in the same location." 

Well, well, well...


E&E News (11/18/20) blog: "A new cast of Republican attorneys general are ready for their star turn if President-elect Joe Biden tries to make good on his ambitious environmental goals. They will follow what's become a legal paradigm: attorneys general on one side of the political aisle challenging the environmental policies of a White House held by the opposing party. The practice ramped up during the Obama administration, as red states challenged EPA's aggressive environmental and climate rules. The trend exploded during the Trump years, with blue states suing over a long list of EPA rollbacks. After this year's elections, Republicans hold 26 state attorney general offices. And they are preparing to wield their power in court.  'The attorneys general in 2021 are developing strategies to push back against' the Biden administration, said Kelly Laco, a spokeswoman for the Republican Attorneys General Association. The tactic has paid off for both sides, in part because both the Obama and Trump administrations were more active in issuing environmental rules — giving the attorneys general more targets. But it has been used particularly effectively by Democratic attorneys general during the Trump era." 

Energy Markets

 
WTI Crude Oil: ↓ $41.76
Natural Gas: ↑↓ $2.73
Gasoline: ↓ $2.11
Diesel: ~ $2.39
Heating Oil: ↑ $127.16
Brent Crude Oil: ↑ $44.36
US Rig Count: ↑ 381

 
Friend on Facebook Friend on Facebook
Follow on Twitter Follow on Twitter
Forward to a Friend Forward to a Friend
Our mailing address is:
1155 15th Street NW
Suite 900
Washington, DC xxxxxx
Want to change how you receive these emails?
update your preferences
unsubscribe from this list