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MORNING ENERGY NEWS  |  9.25.2019
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This is what improving lives around the world in a meaningful way actually looks like.


Petroleum Economist (9/18/19) reports: "Demand for gas and LNG is set to continue its double-digit growth—with buyers being attracted by a combination of availability, affordability, flexibility and environmental benefits—producers of the fuel told the Gastech conference in Houston this week. 'The industry systematically underestimates demand,' says Meg Gentle, president and CEO of US LNG export project developer Tellurian. She is "astonished" the market anticipates 4-5pc pa growth when there has been double-digit increases for each of the last three years...'Demand is much more robust than [the industry is] anticipating. In spite of challenges there are opportunities-smaller markets are able to enter on the demand side and provide new sources of electricity to vast parts of the population that do not have any. I am very encouraged about the potential for the market to grow.'...Gas 'will play a major role in future energy systems', according to Alex Volkov, vice president and head of global LNG marketing at ExxonMobil. 'We believe that the role of natural gas will dramatically increase.' The reasons are simple: it is available, affordable and has 'significant environmental credentials', says Volkov. 'Substituting coal with natural gas on industrial scale for power generation can significantly reduce CO 2 emissions and improve air quality.'"

"Greta Thunberg is a product of a wealthy and secular society in general, and Swedish education system in particular. While her concern over the state of the environment is surely genuine, we cannot ignore the psychological forces that drive modern environmentalism. We should evaluate the veracity of their more outlandish claims in that context."

 

– Marian Tupy, Human Progress

This is embarrassing, even for AOC. 


Energy In Depth (9/24/19) Blog: "This past weekend, Rep. Alexandria Ocasio-Cortez (D-NY) paid a visit to Colorado and took the opportunity to tweet out fear-mongering nonsense about the oil and gas industry without bothering to confirm any facts beforehand. Namely, Ocasio-Cortez incorrectly characterized heat picked up on an infrared camera as 'toxic fumes'...Apparently, she finds a standard drilling infrastructure 'appalling' and assumes that Colorado’s oil and gas regulations—considered to be some of the strictest in the nation—allow for air to be 'poisoned' by fracking. As if this alarmist language wasn’t bad enough, there’s only one small problem with her analysis—fracking isn’t even occurring at the site she observed.  The Forward-looking infrared (FLIR) camera being used in the video isn’t detecting 'toxic emissions' as claimed in the tweet but is simply detecting a heat signature caused by high-temperature drilling mud circling up to the surface and meeting the cooler fall air. This was confirmed by the company that owns the site. In fact, that very site was recently evaluated by the Independent Energy Standards Corporation, and was given a 'Platinum Rating,' ranking it among the highest scores ever recorded in the U.S. for facility management and best practices."

YOU ARE STEALING MY DREAMS!


The Daily Mail (9/24/19) reports: "The European Union is set to spend an extra three million euros on funding private jets for its officials, while also aiming to be a 'global climate leader'. Although still two years away from the 'air taxi' contract ending, the EU has decided to raise the amount that can be spent to €10.71 million, a 50 per cent increase on the starting amount. Originally the deal, which runs from 2016 to 2021, had a value of €7.14 million but it is not thought that will not cover all the travel needed, reports Politico. When agreed two years ago, the contract was for an estimated 871 flight hours and to destinations including Strasbourg, Berlin and Stuttgart. Yesterday the European commissioner for climate action and energy Miguel Arias Cañete said: 'The EU has a strong story - we are global climate leaders.' His comments came during the UN's Climate Change summit in New York where activists including Greta Thunberg have spoken... Last year he chartered private jets for 21 out of 43 official trips between January and November, racking up a bill likely to have ran into hundreds of thousands of pounds. The cost of one private jet for a one-night trip to Tunisia alone was up to £32,943. The EU Commission declined to give the exact bill, but confirmed that Mr Juncker flew with a 13-person delegation and that travel costs averaged £2,357 per person."

"If you disagree with John Kerry, you are literally a Nazi and probably Hitler.


CNS News (9/24/19) Blog: "Former Secretary of State John Kerry has declared 'World War Zero' on those who oppose liberals’ climate change agenda. 'We're going to create a movement here in America, I believe, that will - and across the world, actually - a global movement called WORLD WAR ZERO,' the former Obama Administration State Department head said in an interview announcing his net-zero-carbon-economy-by-2050 initiative on CBS’s 'Face the Nation' on Sunday...The website extends the “war” metaphor throughout – even calling those who oppose their climate agenda 'the axis' – a term used to describe Nazi Germany and Japan during World War II: 'World War Zero will unite unlikely allies and bring together powerful influencers and you to win the future we all deserve, and triumph over today’s axis of opposition: delay, denial, and distortion.'"

A quick reminder that John Kerry is so worried about climate change he is selling his $25 million beach house in Nantucket so he can be closer to his buddy, Barack, in Martha's Vineyard. 


Town & Country (4/28/17) reported: "John Kerry is trading islands. The former U.S. senator and secretary of state purchased a seven-bedroom waterfront house dating to 1924 in the Chilmark neighborhood of Martha's Vineyard in March, the Vineyard Gazette first reported. It's a signal that the longtime Nantucket fixture plans to trade the Grey Lady in for the Vineyard. Kerry, 73, has been a Nantucket regular for decades; he married his wife, Teresa Heinz, on the island, and she has owned a home there since 1982. That property has been on the market with an asking price of $25 million since last spring."

Speaking of terrible nuclear deals...


Washington Times (9/21/19) opinion: "The decline of American mining and production of critical minerals in recent decades is a self-inflicted wound that could imperil our economy and national security. Data from the latest federal geological survey showed the United States has become 99 percent dependent on imports for at least 20 critical and strategic minerals, not including each of the rare earth minerals, even though we were No.1 in mining output across the world as recently as 1990...Here are two recent examples of how we have impaired our domestic mining industry. First, Barack Obama shut off some of the highest grades of uranium production in the United States in 2012. Second, states like Virgina ban uranium mining and have won a U.S. Supreme Court ruling upholding the bans...We don’t know what the best solution is. We don’t support trade protectionism. As The Heritage Foundation’s energy analyst Katie Tubb has noted: “Even the Defense Production Act empowers the Pentagon to prevent critical shortages in a way that does not include trade barriers that treat allies the same as unfriendly nations.” Imports from Canada are not a problem. The problem is the imports that come from nations that are not allies."

Better late than never.


E&E News (9/24/19) reports: "Earthjustice is registering with the federal government as a "foreign agent" as part of its United Nations complaint over climate change. The environmental law group notified the Department of Justice in recent days that it is representing numerous young people, at least some of whom are 'calling for international organizations and governments around the world to take actions to protect the globe from climate change and other environmental challenges.'...The group, which has filed dozens of lawsuits against the Trump administration for environmental policy rollbacks, is working with the law firm Hausfeld LLP to represent 16 people from Argentina, Brazil, France, Germany, India, the Marshall Islands, Nigeria, Palau, South Africa, Sweden, Tunisia and the United States, including Swedish climate activist Greta Thunberg...They filed a formal complaint with the U.N. Committee on the Rights of the Child yesterday, claiming that Argentina, Brazil, France, Germany and Turkey are violating their rights as children by not taking more aggressive action to fight climate change." 

Energy Markets

 
WTI Crude Oil: ↓ $56.46
Natural Gas: ↓ $2.47
Gasoline: ↓ $2.65
Diesel: ↑ $3.01
Heating Oil: ↓ $194.24
Brent Crude Oil: ↓ $62.06
US Rig Count: ↑ 913

 
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