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MORNING ENERGY NEWS  |  01/20/21
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We kept the power on, you just can't use it.


Watts Up With That (1/19/21) blog: "Putting matches in charge of fighting gasoline fires? Even more interference appears to be the German government’s approach to solving the power grid mess that its earlier meddling created in the first place. Germany struggles to keep the lights on, looks for a law to prevent its power grid from crashing.Before the days of climate alarmism and hysteria, the job of deciding how to best produce electricity was left to power generation engineers and experts – people who actually understood it. The result: Germany had one of the most stable and reliable power grids worldwide."



"You cannot eliminate your way to a cleaner environment. You can innovate your way. That is the difference in some people’s aspirational goals" 

 

– Senator Joe Manchin

Cancel culture only helps our adversaries.


RealClearEnergy (1/19/21) editorial: "Joe Biden’s plans to cancel the Keystone XL Pipeline is a gift to someone. The radical green groups for sure: they have opposed the oil link since its inception. The trucking and railroad industry will benefit, too, because once the pipeline is stopped, then the oil will be transported in and around America by something with wheels. It’s also a gift to our adversaries: for who will benefit when America and Canada can’t bring their fossil fuels to market? The competition. Russia and Venezuela will be thrilled to know their market share will increase thanks to the Biden Administration’s fumble." 
 

It's all about that baseload.


Yahoo News (1/19/2021) reports: "Despite ongoing insistence that the fuel security, balance and reliability offered by coal can be easily replaced, mounting evidence points to just the opposite. In states and grids across the U.S., blackouts, near-misses and troubling warnings have become all too common. California suffered rolling blackouts this summer, Texas has stumbled from one near-miss and capacity crisis to another, and grid operators with territory stretching from the Midwest to New England warn of mounting fuel security crises. The pivot away from baseload power is creating the same challenges overseas. Britain’s grid is dancing with the threat of blackouts and Japan simply can’t keep up with demand."

A few more waivers as we wave goodbye (for now) to President Energy...


Reuters (1/19/21) reports: "The U.S. Environmental Protection Agency (EPA) on Tuesday granted three waivers to oil refiners that exempt them from U.S. biofuel blending obligations, a last-minute move before President Donald Trump leaves office on Wednesday.The agency granted two waivers for the 2019 compliance year and one waiver for the 2018 compliance year. The announcement followed four years of controversy around the waiver program under the Trump administration, but left many questions unresolved. Some 30 waiver requests remain outstanding for 2019 and 15 for 2020, which the incoming administration of Joe Biden will need to deal with."

Time will tell if Slippery Joe will really stand up to Sleepy Joe. 


Inside Climate News (1/13/21) reports: "Kingmaker. Linchpin. Occupier of the cat-bird seat. These are the colorful descriptions of the anticipated role of Sen. Joe Manchin—the centrist West Virginia Democrat—in a new Congress under his party’s control. As the most conservative Democrat in the Senate, Manchin will be a key factor in any number of controversial legislative matters, from health care to immigration. But after a presidential campaign that was animated more than any other by concerns about global warming, Manchin could not find himself perched in a more significant—some might say ironic—position. The senator who famously shot a bullet through a copy of Congress’ last major climate bill in a 2010 political advertisement is now well-positioned to determine how much of President-elect Joe Biden’s $2 trillion climate and jobs program becomes law."

Energy Markets

 
WTI Crude Oil: ↑ $53.40
Natural Gas: ↓ $2.48
Gasoline: ↑ $2.39
Diesel: ↑ $2.63
Heating Oil: ↓ $160.33
Brent Crude Oil: ↑ $56.34
US Rig Count: ↑ 421

 
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