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MORNING ENERGY NEWS | 12/30/2020
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** The Senate dumped the Coronabus on your lap, President Trump. You should return the favor.
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Washington Times ([link removed]) (12/29/20) column: "Recently, conservatives have called on President Trump to transmit the Paris climate agreement to the Senate as a treaty requiring “advice and consent” before it can in any way bind the United States, which Paris on its face so clearly is with its promises of adding ever-tightening regulations every five years, in perpetuity. Doing so would restore the Senate’s role in our treaty process, and also protect Americans’ economy and system of governance. The U.S. Constitution vests both the president and the Senate with roles in making any treaty commitments. Under Article II, Section 2, it is clear that either a president or a Senate can declare an international agreement a treaty. Until the Obama administration, with its Iran deal and Paris climate pact, the two institutions always worked together to avoid conflict on such matters...Mr. Obama’s Paris dare
was an outrageous, brazen one that the Senate even more outrageously shied from confronting at the time. The sole cure is for Mr. Obama’s successor to restore our process, and the Senate’s role, and transmit Paris as a treaty requiring 'advice and consent'. Failing to do so, and allowing the Obama 'climate coup' to stand, would enable future presidents to unilaterally adopt any treaties they and foreign elites want, simply by deeming them “not a treaty.” Such abandonment of our balance of powers in turn imperils American self-governance, and leaves U.S. energy and economic policies beholden to the demands of foreign leaders, U.N. bureaucrats and international pressure groups."


** "To achieve his policy objectives, [Biden] will need to lean on every advantage the U.S. has. Rather than penalizing American shale producers, his administration should work with them to advance our interests."
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– James Mark, Real Clear Energy ([link removed])

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This oughtta improve things.

** E&E News ([link removed])
(12/29/20) announced: "Dear valued clients, I am excited to announce E&E News has entered into an agreement to join forces with Politico to bring you even better and expanded coverage of energy and environmental issues. Rest assured, the well-established E&E News brand and its esteemed journalism and reporters you trust and rely on are not going anywhere. We will continue delivering our daily publications with in-depth coverage of energy, climate and natural resources on our website and sending previews to your inbox. There are no changes to your current subscription, which remains in full force. Politico is acquiring E&E News to build on our more than two decades of hard work that have established us as the go-to news source — your news source — for energy and environmental issues."

Team Biden isn't even pretending to know what they are talking about on this one.

** W ([link removed])
** ashington Post ([link removed])
(12/29/20) column: "In pushing a transition away from fossil fuels, President-elect Joe Biden emphasizes the threat of a rising China, arguing that an American shift to electric vehicles ought to be homegrown rather than dependent on a rival across the Pacific. From Biden’s campaign website, one would believe that the market for electric vehicles is of as much geopolitical import as the Cold War space race. Biden’s energy plan claims that 'China is on track to command more than four times the global market share compared to the U.S. in electric vehicle production' and that the outgoing U.S. president has 'allowed China to race ahead.' But if Beijing does have a stranglehold on electric-vehicle production, it is not tipping its hand. In September, China EV 100, a Chinese EV industry think tank, warned that China is at risk of foreign dependence in the EV supply chain. For example, in the production of semiconductor-based components necessary for EVs, only one Chinese company ranks in the
global top 20, according to China EV 100 vice president Zhang Yongwei, with less than 5 percent of automotive chips being made in the country...Biden’s plan for an American EV industry overlooks these nuances. Rather than sound geopolitics, his gambit reflects political pandering to U.S. regions that feel diminished by globalization. The Biden campaign’s Made in America plan refers to China 24 times by name; it makes nary a mention of Japan or Korea. The plan flirts with voters’ base instincts and neglects the value that Americans reap through the embrace of global comparative advantages."

Energy Markets


WTI Crude Oil: ↑ $48.03
Natural Gas: ↑ $2.46
Gasoline: ~ $2.25

Diesel: ~ $2.55
Heating Oil: ↑ $149.12
Brent Crude Oil: ↑ $51.23
** US Rig Count ([link removed])
: ~ 384



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