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MORNING ENERGY NEWS | 1/15/21
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** There can be no mistaking it. From day one Joe is backing the greens over American families.
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Forbes ([link removed]) (1/20/21) column: "The pushback from Canada I wrote about on Tuesday has apparently fallen on deaf ears for the incoming new administration, and President Joe Biden will likely move to cancel the cross-border permit for the Keystone XL Pipeline System. That move could effectively kill the project to complete the northern leg of the system which would facilitate the import of large volumes of heavy Canadian crude every day for refining in the United States. The question that too few, if any, in the news media will ask the new President is, why? Why would a President who likes to portray himself as a champion of the environment move to cancel a pipeline that has pledged to turn itself into America’s first all-renewable energy interstate/international pipeline system? Other than a simple raw exercise in political power
designed to impress one of the Democratic Party’s most loyal and powerful interest groups, the move makes little sense. It also shows how dominant the anti-fossil fuel lobby has become in recent years over one of that Party’s former powerful interest groups, organized labor. Reacting to President Biden’s decision, Thomas Pyle, President of the American Energy Alliance, put it this way: 'The Keystone pipeline is nearly completely built and an important link for North America’s economic security. The decision today to rescind the permit makes it crystal clear that Mr. Biden stands with the extreme green lobby and not average Americans.'"
** "President-elect Biden’s policies from Day One hurt American workers and our economy. Killing the Keystone XL pipeline and rejoining the Paris Agreement will eliminate good-paying jobs. This virtue-signaling comes at the expense of low-income and rural families that rely upon industries opposed by liberal environmental groups."
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– U.S. Senator Shelley Moore Capito (R-W.Va.) ([link removed])
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Expert in what exactly? How to make life miserable for average families?
How now the wind blows?
** Hart Energy ([link removed])
(1/20/2021) reports: The U.S. Chamber of Commerce, the country’s biggest and most influential business lobby group, shifted its position on climate change on Jan. 19, saying Congress should pass laws pushing companies to limit greenhouse gas emissions. 'The Chamber supports a market-based approach to accelerate GHG (greenhouse gas} emissions reductions across the U.S. economy,' the trade group said in a statement. 'We believe that durable climate policy must be made by Congress,' the group said, adding that it should encourage investment in emission reductions, while avoiding harm to business, consumers and communities. The Chamber had long been an opponent of policies to put a price on carbon or mandate emission reduction cuts. Its move came a day before Democratic President Joe Biden entered the White House. The president has authority under the federal Clean Air Act to use executive orders to drive emission-reduction cuts, and Biden has vowed to enlist all federal agencies to adopt
measures to combat climate change. It is not the lobbying group’s first shift on the issue. In March 2017, the Chamber helped fund a study that said that 'meeting the commitments President (Barack) Obama made as part of the Paris climate accord could cost the U.S. economy $3 trillion and 6.5 million industrial sector jobs by 2040.'”
Wait, you mean we meant what we said?
** E&E News ([link removed])
(1/19/2021) reports: "Donald Trump promised American energy dominance when he ran for president, offering a full-throttle embrace of coal, oil and gas and a pledge to hack away at a regulatory thicket he said hampered production. In office, Trump took aim at Obama-era regulations, rolling back and replacing efforts to make power plants cleaner, setting time limits on environmental reviews for federal projects, bypassing deadlines to upgrade energy efficiency standards and supporting a Republican-led Congress in opening the Arctic National Wildlife Refuge to oil drilling. Now, as Trump leaves office tomorrow, his energy legacy, like much of his record, is up for debate...'From the beginning, President Trump stood up to the green left, the media, bullies like [Democratic former California Gov.] Jerry Brown, and big business who constantly urged him to take the path of least resistance,' said Tom Pyle, president of the conservative American Energy Alliance. 'He inherited an Environmental
Protection Agency that had taken a wrecking ball to the American economy and ordered it to slash the duplicative and harmful regulations that were hampering our energy producers.' Pyle, who led Trump's Energy Department transition team after the 2016 election, added: 'Trump has an energy policy. Democrats have a carbon constraint policy. That is the fundamental difference.'"
Energy Markets
WTI Crude Oil: ↓ $53.98
Natural Gas: ↓ $2.49
Gasoline: ↑ $2.39
Diesel: ↑ $2.63
Heating Oil: ↓ $158.25
Brent Crude Oil: ↓ $55.73
** US Rig Count ([link removed])
: ↑ 421
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