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MORNING ENERGY NEWS  |  9.24.2019
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We could be wrong, but we don't think they brought anybody over to their side yesterday. 


Reason (9/23/19) blog: "Car horns, police whistles, and people chanting 'The polar bears are on fire!': These were the sounds of today's 'climate strike' in Washington, D.C. As the Global Climate Summit, a United Nations–sponsored event, was beginning in New York City, several groups of climate activists took to Washington's streets to profess their support for stricter regulation of the environment. Marching down and blocking off streets with dozens of police units in tow, an estimated 1,150 protesters passed out fliers and shouted slogans. Dozens were reportedly arrested for blocking traffic...But for some, the consequences of the commotion hit a little harder. 'I might lose my job over this,' one disgruntled motorist grumbled as he waited for a group of slow-moving protesters to pass. He expressed sympathy for the activists' goals but opined that they 'f*ck a whole lotta people over' by such tactics. As traffic started to move again, the man gestured to the hundreds of other motorists leaning on their horns and reversing up one-way streets and asked, 'Why us?'"

"We are in the beginning of a mass extinction, and all you can talk about is money and fairy tales of eternal economic growth. How dare you!"

 

– Greta Thunberg, Serial Truant

Glad to see the government is taking steps to solve the most pressing issues facing Guatemala. 


E&E News (9/23/19) reports: "Guatemala's government is putting in place a ban on plastic bags and other disposable single-serve items that will take effect in 2021. The measure gives merchants two years to phase out bags, straws, plates, cups and containers made from plastic or plastic foam, and replace them with compostable items. There are exemptions for materials and supplies for medical and therapeutic purposes, as well as imports that are sealed in plastic. President Jimmy Morales has backed Friday's measure on environmental grounds. Some businesspeople oppose it, while some environmentalists say it doesn't do enough to attack the problem of waste mismanagement."

Want even more endless war in the Middle East? Ban fracking.


National Review (9/22/19) reports: "Here is a news lead that begins with a bang and ends with a whimper: 'The strike on the heartland of Saudi Arabia’s oil industry, including damage to the world’s biggest petroleum-processing facility, has driven oil prices to their highest level in' — here, Reuters should have used some ellipses of irony — 'nearly four months.' Four months! If the United States declines to go to war against Iran on behalf of Saudi Arabia, our increasingly troublesome client state, one of the reasons for that happy development will be: because we do not need to...Beady-eyed realpolitik used to mean deferring to the world’s big oil producers when it came to our relations in the Middle East. Now it means being the world’s big oil producer and — once they decide they’ve grown tired of unnecessarily taking on risk while giving up wealth, income, and jobs — helping our British and European allies become bigger players, too. Fracking involves some real environmental challenges — American producers and regulators have developed great skill at dealing with them. The environmental challenges of fracking are manageable. The Saudis and the Iranians are manageable, too, but at a radically higher cost in blood and resources. Politics is about tradeoffs. We owe it to ourselves to take the smart one."

Pro-worker, or pro-green boondoggle?


Wall Street Journal (9/23/19) column: "Democratic presidential candidates have promised that they know how to create millions of green jobs to replace the ones they plan to kill in fossil-fuels production, but it seems that not even their friends at the United Auto Workers believe them. This is one reason that auto workers at GM are striking...Auto makers will also have to cut labor costs as electric cars crimp profits. The UAW says that auto makers won’t produce a profit on EVs comparable to gas-powered cars until 2028, which is one reason the UAW has demanded job guarantees and much higher wages in its new GM contract. The union knows EVs will dent future profits so workers better strike while they have more leverage...One of the myths of the climate warriors is that remaking the global economy to purge fossil fuels is a free lunch. Someone will pay, as the auto workers have figured out." 

If you find yourself allying with a totalitarian communist state against the leader of the free world you might want to do some self-reflecting. 


E&E News (9/23/19) reports: "Former California Gov. Jerry Brown (D) is launching an effort today to unite California and China in fighting against climate change. Brown is kicking off the opening of the California-China Climate Institute at the University of California, Berkeley. The former governor, who chairs the effort, will team with Xie Zhenhua, China's special representative for climate change affairs...'Trump is pulling the plug on a number of efforts,' Brown said. 'We want to counteract that with whatever we can do in California, both through the government, through our universities and through business. And we want China as our ally because China's got clout. People want to sell into that market.' During his last two terms as California governor, which ended in January, Brown made action on climate a top priority. He made repeated outreach to China, meeting with Chinese President Xi Jinping several times. They first met in 2012 in Los Angeles when Xi was vice president, then in 2013 in Indian Wells, Calif.; 2015 in Seattle; and 2017 in Beijing."

Energy Markets

 
WTI Crude Oil: ↓ $58.02
Natural Gas: ↑ $2.57
Gasoline: ↓ $2.66
Diesel: ↓ $3.01
Heating Oil: ↓ $197.40
Brent Crude Oil: ↓ $63.92
US Rig Count: ↓ 905

 
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