Your Morning Energy News

View this email in your browser ([link removed])
MORNING ENERGY NEWS | 12/29/2020
Subscribe Now ([link removed])


** Without Trump around to hold them together these folks are going to tear each other apart.
------------------------------------------------------------
The Hill ([link removed]) (12/14/20) column: "The selection of Brian Deese to direct the National Economic Council (NEC) places a spotlight on some of the conflicting commitments within the Biden administration. Bowing to pressure from progressive climate activists, Biden pledged last July to pursue an aggressive climate plan that would eliminate fossil fuels by 2035. The selection of Deese — the current head of sustainable investing at BlackRock and a former Obama adviser behind some of that administration’s most notable climate policies — signals Biden’s willingness to use economic policy as an engine for pursuing his plan. But it puts Deese in a tough spot, too. For all his green bona fides, Deese, who is already receiving vocal criticism from climate purists, can’t escape fiscal realities: an aggressive attempt to decarbonize by 2035 would spell disaster for the economy, which Deese has promised to revitalize. A recent
report from the University of California, Berkeley, known as the 2035 Report, offers a glimpse of an America decarbonized in the next 15 years. But it betrays, too, the extent to which its own goals are both unfeasible and at odds with economic health...What’s not for Deese and the NEC to like? Plenty. In 2019, for example, hydrocarbons accounted for a vast majority of electricity generation in the U.S. Despite billions of dollars in subsidies, wind and solar power provided less than 10 percent."


** "President-elect Joe Biden has said that reentering the Paris Agreement is a top priority, but one has to wonder why. The economic consequences of rejoining the Paris Agreement will be severe, hurting consumers, businesses, and workers because of dramatic steps that will need to be taken to comply with the carbon emissions reduction target."
------------------------------------------------------------


– Jason Pye, FreedomWorks ([link removed])

============================================================

Someone needs to get team Biden an actual list of the job descriptions he is handing out.

** Forbes ([link removed])
(12/23/20) column: "Environmental activists are hopeful that Janet Yellen, Joe Biden’s pick for Treasury Secretary, will lead a major shift in public policy toward actively addressing climate change. Yellen publicly supports carbon taxes, and some activists are calling for her to use the Financial Stability Oversight Council (FSOC) in the “campaign against global warming.” Some might recognize the FSOC as the council of regulators that designates certain large banks for special regulations because they are systemically important financial institutions (SIFIs). But the council’s authority goes well beyond hitting large banks with higher capital requirements. Climate activists are right to recognize what Yellen could accomplish through the FSOC because she can do plenty. Regardless of what one thinks of climate change, this fact should be lamented, not celebrated. Jamie Henn, director of Fossil Free Media, understands that 'Yellen will have the power to help move trillions of dollars out of
fossil fuels and trillions more into renewables. She could do more for the Green New Deal than nearly any other cabinet position.' Henn is probably not too far off. The problem, though, is that the very same authority that opens the door to these kinds of policies can also accomplish the opposite goals when a different party is in power."

Energy Markets


WTI Crude Oil: ↑ $48.07
Natural Gas: ↑ $2.41
Gasoline: ↑ $2.25

Diesel: ~ $2.55
Heating Oil: ↑ $148.59
Brent Crude Oil: ↑ $51.34
** US Rig Count ([link removed])
: ↓ 384



** Donate ([link removed])
** Subscribe to AEA's Unregulated Podcast ([link removed])
** Subscribe to AEA's Unregulated Podcast ([link removed])
** Subscribe to IER's Plugged In Podcast ([link removed])
** Subscribe to IER's Plugged In Podcast ([link removed])
** Friend on Facebook ([link removed])
** Friend on Facebook ([link removed])
** Follow on Twitter ([link removed])
** Follow on Twitter ([link removed])
** Forward to a Friend ([link removed])
** Forward to a Friend ([link removed])
Our mailing address is:
** 1155 15th Street NW ([link removed])

** Suite 900 ([link removed])

** Washington, DC xxxxxx ([link removed])
Want to change how you receive these emails?
** update your preferences ([link removed])

** unsubscribe from this list ([link removed])