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MORNING ENERGY NEWS  |  9.26.2019
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B-b-b-baby, you just ain't seen n-n-nothin' yet!


Energy Information Administration (9/24/19) reports: "In its newly released International Energy Outlook 2019 (IEO2019) Reference case, the U.S. Energy Information Administration (EIA) projects that world energy consumption will grow by nearly 50% between 2018 and 2050. Most of this growth comes from countries that are not in the Organization for Economic Cooperation and Development (OECD), and this growth is focused in regions where strong economic growth is driving demand, particularly in Asia...Global natural gas consumption increases more than 40% between 2018 and 2050, and total consumption reaches nearly 200 quadrillion Btu by 2050. In addition to the natural gas used in electricity generation, natural gas consumption increases in the industrial sector. Chemical and primary metals manufacturing, as well as oil and natural gas extraction, account for most of the growing industrial demand." 

"Lawmakers handing out breaks to the well-connected rigs the economy against those of us who are not a part of Congress’ chosen few."

 

– Micah Derry,
Americans for Prosperity-Ohio

Outrun the police you say?


Mercury News (9/24/19) reports: "The last thing a police officer trying to chase down a suspect in a high-speed pursuit needs to see is a warning that their patrol car is running low on gas — or on battery juice. But that’s how it went down Friday night in Fremont — in a Tesla no less. A Fremont police officer pursuing a suspect while driving the department’s Tesla Model S patrol car noticed it was running out of battery power. During the pursuit of a 'felony vehicle' that started in Fremont and reached peak speeds of about 120 miles per hour on the highway, the officer driving the Tesla radioed in to dispatch that he might not be able to continue the chase he was leading. 'I am down to six miles of battery on the Tesla so I may lose it here in a sec,' Officer Jesse Hartman said...So the Fremont cops pulled off the highway in San Jose and headed back to their city — but not before the officer in the Tesla made a pit stop. 'I’ve got to try to find a charging station for the Tesla so I can make it back to the city,' Hartman said over the radio...The CHP informed Fremont police that the car they were chasing was later found crashed into some bushes not far from where the chase was called off, and the driver was not found, Bosques said...Fremont’s police department made headlines earlier this year when this news organization broke the story that it would likely become the first police agency in the nation to roll out a Tesla as part of its patrol fleet."

Twerking for climate justice? 


Town Hall (9/25/19) column: "It is the end of the world, and progressives are dancing in the streets. If this seems a rather curious, if not bizarre response to a fast-approaching global calamity, you probably do not understand today’s 'progressives.' This week’s #ShutDownDC global warming demonstrations have been less a protest than a public exhibition of costumes, dance moves, and pet political causes, many of which are only at-best tangentially related to environmental stewardship. There were LGBT activists gyrating in the streets as confetti rained over them. There were Black Lives Matter advocates and assorted anti-capitalists. Most notably, of course, there were plenty of cameras to capture the pageantry. You would hardly know mankind was only a few 'impossible burgers' away from global calamity. Farcical is the only way to accurately describe this circus of a 'protest.' No mature and rational person would view the menagerie and think to himself, 'You know, this event convinces me that I must do more to protect the environment.'"

Odd bedfellows? More like the usual suspects.


E&E News (9/24/19) reports: "A coalition of odd bedfellows is calling on Congress to expand the federal electric vehicle tax credit. The Natural Resources Defense Council, Sierra Club, Alliance of Automobile Manufacturers and Association of Global Automakers circulated a letter on Capitol Hill today urging lawmakers to expand the subsidy. Also signing the missive were electric truck startup Rivian and the Edison Electric Institute, which represents investor-owned utilities. 'While the EV market is rapidly growing, these existing incentives are still needed to continue to help newer technologies achieve scale and to become more cost-competitive,' the letter says...At an event this week organized by the Edison Electric Institute, Stabenow acknowledged it would be difficult to pass the legislation in the Senate under Majority Leader Mitch McConnell (R-Ky.). She expressed hope that the bill would instead hitch a ride on a broader tax extenders package." 

Time for a Polexit?


Reuters (9/25/19) reports: "Poland’s ruling Law and Justice (PiS) party plans to introduce legislation that will allow the government to open new coal mines without the approval of local authorities, its energy minister said on Wednesday. PiS wants to build new mines as it expects half of the country’s electricity to be generated from coal by 2050. That would be down from 80% coal-powered electricity currently but goes against European Union calls for member states to achieve zero carbon emissions by 2050...In June Poland led a handful of eastern EU states in blocking a push by France and other member states to commit the bloc to net zero emissions by 2050. 'We were told that we should have more ambitious goals when it comes to renewable energy. But my response is - there is nothing more we can do as a country, because the energy transformation depends also on the extent the European Commission will help us,' [Energy Minister Krzysztof Tchorzewski] said."

Energy Markets

 
WTI Crude Oil: ↓ $56.41
Natural Gas: ↑ $2.53
Gasoline: ↓ $2.65
Diesel: ~ $3.0116
Heating Oil: ↑ $195.45
Brent Crude Oil: ↓ $62.24
US Rig Count: ↓ 909

 
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