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MORNING ENERGY NEWS  |  11/30/2020
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For their sake, New Englanders should hope for a mild winter. Even John Snow can't help them now.


Utility Dive (11/23/20) reports: "'Extreme weather' could result in natural gas shortages and challenges to grid reliability in New England and California this winter, the North American Electric Reliability Corporation (NERC) concluded in its 2020–2021 Winter Reliability Assessment issued Wednesday. The grid operator also found that while cold snaps can pose challenges in some specific areas, the ongoing COVID-19 pandemic is causing increased uncertainty in electricity demand projections and 'presents cyber security and operating risks' more broadly. ISO New England (ISO-NE) says it expects to have 'sufficient supplies' to meet electricity demand this winter and also has new procedures in place to mitigate potential fuel shortages. In California, gas storage facilities are being filled in preparation for colder months...NERC said that while ISO New England (ISO-NE) expects to meet its regional resource adequacy requirements this winter, 'a standing concern is whether there will be sufficient electrical energy available to satisfy electricity demand while satisfying operating reserves during an extended cold spell given the existing resource mix and seasonally-constrained, fuel delivery infrastructure.' But ISO-NE also said that the availability of fuel for power plants 'remains a concern during extended periods of extremely cold weather due to natural gas pipeline constraints in the region.'"


"A carbon tax is simply a tool to socially engineer society while raising tax receipts for more ineffective govt programs. It’s always going to be a failure because of it."

 

– Vance Ginn,
Texas Public Policy Foundation

If you love democracy, you’ll hate sue-and-settle — draconian laws without the annoyance of voting.  


GAO (11/29/20) reports: "As reported in the Wall Street Journal, a trail of emails between progressive state attorneys generals (AG) offices and former Obama-Biden and career Environmental Protection Agency (EPA) officials – obtained over nine months by Energy Policy Advocates’ dogged public record requests – reveal a plan to use the courts to impose the 'climate' agenda early in the next administration, skipping Congress. The chosen approach is even more aggressive than the disastrous and politically unattainable 'Green New Deal' (now rebranded as “Net Zero”) and was previously rejected by the Obama EPA and green activists as too extreme. The plan is for an otherwise Obama-like move: an end-run around the democratic process, avoiding political sign-off or accountability for what would be a massive, painful and ideological restructuring of the U.S. economy. Obfuscating by AG spokespeople notwithstanding, the hope appears to be to revive 'sue-and-settle', a practice by which green activists sue, e.g., the EPA to impose rules that the regulators wanted but couldn’t attain through regular means. 'Instead of fighting the lawsuit, the EPA would then almost immediately surrender, agreeing to settle… consenting to whatever outrageous demands were being made by the agency’s handpicked ‘adversary.’' 'When citizens or business complained, EPA would claim its hands were tied by the settlement.'"

"Dry Run"


New York Post (11/26/20) reports: "New Zealand Prime Minister Jacinda Ardern’s government is to declare a climate emergency in a symbolic step to increase pressure for action to combat global warming. The government will put forward a motion to declare the emergency next Wednesday, the government said as parliament reconvened after a general election won by Ardern’s party. 'We’ve always considered climate change to be a huge threat to our region, and it is something we must take immediate action on,' Ardern said, according to state broadcaster TVNZ. 'Unfortunately, we were unable to progress a motion around a climate emergency in parliament in the last term, but now we’re able to.' Ardern returned to power last month delivering the biggest election victory for her centre-left Labour Party in half a century as voters rewarded her for a decisive response to the novel coronavirus."

Ever thus to carbon taxers.


CommonWealth Magazine (11/26/20) reports: "One of the most overlooked stories on Election Day was the defeat of pro-carbon tax politicians across the nation and here in New England. The most notable carbon tax proponent to seek office in New England was Sara Gideon, the speaker of the Maine House who was challenging moderate incumbent Republican US Sen. Susan Collins. As speaker, Gideon in 2019 supported the imposition of a carbon tax that’s end effect on fuel prices bore a striking similarity to the Transportation and Climate Initiative, or TCI, a regional effort to place a price on the carbon in vehicle fuels. The carbon tax proposal went nowhere in Maine and Gideon did not embrace it during her run for US Senate. Collins, however, continually highlighted Gideon’s previous support for the carbon tax proposal with TV and digital ads describing it as a 40 cent-per-gallon gas tax, which would add an “extra $10 for every fill up.” The ads closed by saying “higher fuel taxes hurt Maine workers, our farmers, and our families.” While most pundits felt Gideon was favored to prevail, Collins beat her 51-42, winning 14 of the 16 counties in Maine. In Vermont, Republican challenger Mike Morgan defeated House Speaker Mitzi Johnson and his uncle, Leland Morgan, won the district’s other seat. The Morgans made carbon taxes, including TCI, the signature issue of their campaign." 

If it walks like a duck...


Wall Street Journal (11/29/20) column: "Joe Biden has promised to rejoin the Paris Climate Accord on day one, but President Trump could stop it from having any binding legal power. President Obama signed on to the international agreement by executive action in 2015, which meant Mr. Trump could withdraw from it the same way, as he did in 2017. As per the terms of the accord, that withdrawal became effective on Nov. 4, 2020. Mr. Obama’s pledge to reduce greenhouse-gas emissions at least 26% by 2025 wasn’t legally binding. Only Senate consent to its ratification could have made it so—and the upper chamber would have rejected the treaty handily if Mr. Obama had submitted it. Yet if Mr. Biden brought the U.S. back into the accord, it’s possible it will take on the weight of law. Although there is nothing about the agreement’s terms or the manner in which the U.S. entered it that make it legally binding on the U.S., some green group may find a friendly federal court to produce that result...To prevent the Paris Climate Accord from taking on such undue power, Mr. Trump should submit it to the Senate, and Majority Leader Mitch McConnell should schedule a quick vote. It would certainly be rejected—ratification requires a two-thirds vote—and it is unlikely any court could subsequently resurrect a legislatively tossed treaty. Without the help of judges, Mr. Biden would need a winning ratification vote to make the accord binding, which he likely couldn’t get no matter how well Democrats do in Georgia’s January runoffs and the 2022 midterm elections." 

Energy Markets

 
WTI Crude Oil: ↓ $45.36
Natural Gas: ↑ $2.98
Gasoline: ~ $2.12
Diesel: ~ $2.42
Heating Oil: ↓ $137.50
Brent Crude Oil: ↓ $47.76
US Rig Count: ↓ 395

 
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