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MORNING ENERGY NEWS | 12/10/2020
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** The real collusion worthy of an investigation.
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Energy In Depth ([link removed]) (12/9/20) reports: "Activist groups at the heart of the climate litigation campaign have launched a new video featuring Minnesota Attorney General Keith Ellison promoting the climate lawsuit he filed this summer. The video was sponsored and created by the YEARS Project and Fossil Free Media and is being touted online by the ExxonKnews newsletter, demonstrating that the litigation campaign remains highly coordinated and politically motivated. In the video, Ellison said he has high hopes that the Minnesota lawsuit filed against ExxonMobil, Koch Industries, and the American Petroleum Institute will 'set a precedent for the entire nation' and he regurgitated (frequently-debunked) 'Exxon Knew' talking points about how oil companies 'needed to stop lying to us' about what they knew when about the science of climate change...The Minnesota climate lawsuit and the video
featuring Ellison appears to be yet another textbook example of anti-energy activists working hand-in-glove with government officials. This video, produced and promoted by leading figures in the climate litigation campaign, only raises more questions about who the driving force behind this lawsuit is actually."
** "Some 'green' investors oppose fracking, but the United States led all countries in reducing carbon emissions mostly because fracking's natural gas reduces demand for coal and high carbon oil. The ugly truth is that most so-called responsible investment funds charge more to sell feel-good nonsense that accomplishes nothing."
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– John Stossel, Reason ([link removed])
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The arrogance of central planners cannot be understated.
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Yes, but the U.S. did it with American, not Russian, gas.
** Spectrum ([link removed])
(11/25/20) reports: "In 2000, Germany launched a deliberately targeted program to decarbonize its primary energy supply, a plan more ambitious than anything seen anywhere else. The policy, called the Energiewende, is rooted in Germany’s naturalistic and romantic tradition, reflected in the rise of the Green Party and, more recently, in public opposition to nuclear electricity generation...It costs Germany a great deal to maintain such an excess of installed power. The average cost of electricity for German households has doubled since 2000. By 2019, households had to pay 34 U.S. cents per kilowatt-hour, compared to 22 cents per kilowatt-hour in France and 13 cents in the United States...We can measure just how far the Energiewende has pushed Germany toward the ultimate goal of decarbonization. In 2000, the country derived nearly 84 percent of its total primary energy from fossil fuels; this share fell to about 78 percent in 2019. If continued, this rate of decline would leave fossil fuels
still providing nearly 70 percent of the country’s primary energy supply in 2050. Meanwhile, during the same 20-year period, the United States reduced the share of fossil fuels in its primary energy consumption from 85.7 percent to 80 percent, cutting almost exactly as much as Germany did. The conclusion is as surprising as it is indisputable. Without anything like the expensive, target-mandated Energiewende, the United States has decarbonized at least as fast as Germany, the supposed poster child of emerging greenness."
Beyond parody
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Energy Markets
WTI Crude Oil: ↑ $46.52
Natural Gas: ↑ $2.48
Gasoline: ~ $2.15
Diesel: ~ $2.54
Heating Oil: ↑ $143.13
Brent Crude Oil: ↑ $49.93
** US Rig Count ([link removed])
: ↑ 406
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