View this email in your browser
MORNING ENERGY NEWS  |  01/07/2021
Subscribe Now

One less thing to worry about...


Climate Realism (1/2/21) blog: "Despite the near constant caterwauling from climate alarmists that we are in a 'climate emergency', real-world data, released at the end of 2020 shows that climate related deaths are now approaching zero. The data spans 100 years of 'global warming' back to 1920 and shows 'climate related' deaths are now approaching zero. Below is an update of the graph in the 2020 peer-reviewed article by Bjørn Lomborg: Welfare in the 21st century: Increasing development, reducing inequality, the impact of climate change, and the cost of climate policies...This is clearly the opposite of what climate alarmists have been screaming about, but that is because we’re been exposed to a constant stream of “disaster TV” on cable news and Internet news outlets telling us daily about yet another new disaster, which invariably gets blamed on 'climate change'. There’s an important distinction that must be made: increased reports does not equal increased death risk. While the number of reported events is increasing, that is mainly due to increased reporting. Called 'the CNN effect', we now have 24 hour news, Internet, and people able to make reports of weather disasters from their cellphones, i.e. storm-chasers."

"It should go without saying, that banks should not discriminate against potential creditworthy clients who are operating in legal industries. Yet, thanks in part to the growth in Environmental, Social, and Governance (ESG) investing and management guidelines, there is a growing tendency for this discrimination to occur."

 

– Wayne Winegarden,
 Pacific Research Institute

Turn the wind up to max!

What if oil companies stuck to making oil?


Oil Price (1/4/21) column: "Major cuts to oil production, an equally major boost to clean energy project development, and ambitious emissions reduction targets: this was Big Oil’s pledge for the future last year. It’s worth acknowledging the effect the coronavirus pandemic had on oil demand, which motivated oil companies to diversify beyond their core business, but the motivation was already there as pressure from investors started growing for a more environmentally responsible way of doing energy business. The majors themselves are confident they have the means and expertise to turn into the global utilities of tomorrow. They are betting big on electricity generation and distribution, EV charging, and, of course, wind, solar, and hydrogen. And they are making it sound like it will be smooth sailing. But it won’t be. The renewables pivot of Big Oil has been hailed by many and criticized by many, the latter of those who remember previous attempts—at least stated attempts—by oil and gas supermajors to shift to cleaner energy. Yet now things are different from previous attempts to go green: the pressure from governments and investors is much stronger as ESG investing turns into a steady trend, and environmental activism reaches new levels of influence over all industries...But it may be that Big Oil does not really need to become Big Electricity, or at least not Big Renewable Electricity. It may be smartest to play to its strengths and reduce emissions at the same time but without undertaking a complete—and potentially risky—transformation."

A carbon tax or no, the Canadians are in the game.


Reuters (1/6/21) reports: "Canada’s oil sands production hit a record high in November, according to the latest regulatory data, and will likely continue to rise as producers ramp up output following the end of provincial government production curtailments in Alberta. Northern Alberta’s oil sands account for roughly two thirds of crude output from Canada, which is the world’s fourth-largest oil producer. Canadian producers, like their counterparts globally, endured a torrid 2020 as the COVID-19 pandemic hammered fuel demand but cautious optimism that vaccinations will defeat the virus this year is helping boost oil prices. Data showing an uptick in Canadian oil sands production coincides with a jump in global oil prices this week to an 11-month high, spurred on by a surprise supply cut from the world’s largest exporter Saudi Arabia. Data from the Alberta Energy Regulator released this week shows in November oil sands production hit a record 3.16 million barrels a day. That was a month before Alberta government production curtailments, introduced in 2019 to ease congestion on export pipelines, lifted."

Energy Markets

 
WTI Crude Oil: ↑ $50.70
Natural Gas: ↑ $2.73
Gasoline: ↑ $2.28
Diesel: ~ $2.57
Heating Oil: ↑ $153.73
Brent Crude Oil: ↓ $54.22
US Rig Count: ↓ 393

 
Donate
Subscribe to AEA's Unregulated Podcast Subscribe to AEA's Unregulated Podcast
Subscribe to IER's Plugged In Podcast Subscribe to IER's Plugged In Podcast
Friend on Facebook Friend on Facebook
Follow on Twitter Follow on Twitter
Forward to a Friend Forward to a Friend
Our mailing address is:
1155 15th Street NW
Suite 900
Washington, DC xxxxxx
Want to change how you receive these emails?
update your preferences
unsubscribe from this list