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MORNING ENERGY NEWS  | 01/28/2021
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Sgamma for the win!


Washington Times (1/27/21) reports: "A Western pro-energy group filed a lawsuit Wednesday challenging President Biden’s ban on oil-and-gas leasing on federal lands just moments after the Democrat announced his latest executive order aimed at combating climate change. The Denver-based Western Energy Alliance argued that Mr. Biden’s order exceeds his presidential authority and violates the Mineral Leasing Act, National Environmental Policy Act, and the Federal Lands Policy and Management Act. 'The law is clear. Presidents don’t have authority to ban leasing on public lands. All Americans own the oil and natural gas beneath public lands, and Congress has directed them to be responsibly developed on their behalf,' said alliance president Kathleen Sgamma. 'Drying up new leasing puts future development as well as existing projects at risk. President Biden cannot simply ignore laws in effect for over half a century.'"

“Climate change is the most significant public health challenge of our time.”

 

– Gina McCarthy,
National Climate Czar

Biden hates schoolchildren...


KNEB (1/26/2021) reports: "The top administrator at the Wyoming Department of Education says funding for public education in her state and several others has been eviscerated by the Biden Administration’s federal ban on oil and gas leases. Superintendent Jillian Balow says she was taken aback by the swift orders executed by Acting U.S. Interior Secretary de le Vega after months of rhetoric around bringing unity to the nation, noting that  Wyoming depends on some $150 million a year in oil and gas federal mineral royalties to fund K-12 schools. 'Shockingly, this move hurts the students in soon to be Interior Secretary Haaland’s home state of New Mexico substantially worse. A University of Wyoming study estimates that Wyoming and seven other top federal oil and gas producing states stand to lose hundreds of millions in revenue for their schools and governments due to this moratorium. There are also Native American reservations negatively impacted by this moratorium and speaking out,' said Balow. 'And on the heels of the worst economic year we’ve all experienced in modern history, it is unconscionable that Acting Interior Secretary de la Vega would now do this to our kids.'"

And American island dwellers. 


Reason (1/27/21) reports: "President Joe Biden may have said on the campaign trail that Puerto Rico should become a state, but that doesn't mean he supports laws that make it a viable, economically competitive state if doing so means angering maritime unions. In an executive order signed Monday and in subsequent comments, Biden made it abundantly clear that he supports the Jones Act, a 1920 federal law that requires that cargo ships traveling between American ports be made in America and owned and crewed by American citizens: 'The executive action I am taking also reiterates my strong support for the Jones Act and American vessels, you know, and our ports, especially those important for America's clean energy future and the development of offshore renewable energy.' The Jones Act is an absolutely terrible law, designed purely for protectionist measures, that shields maritime companies and unions in the United States from competition. The consequence of the Jones Act is that a foreign commerce ship that goes to states like Hawaii or Alaska or to territories like Puerto Rico can engage in domestic trade in only one American port. It can travel to other American ports but cannot take on or deliver goods unless it goes to a foreign port and then returns. A vessel from Japan that's heading to Los Angeles cannot also stop in Hawaii along the way and engage in commerce, despite the logical economic efficiencies in doing so."

They see 2022 coming:

Energy Markets

 
WTI Crude Oil: ↓ $52.76    
Natural Gas: ↓ $2.66
Gasoline: ↑ $2.41
Diesel: ↑ $2.64
Heating Oil: ↓ $160.80
Brent Crude Oil: ↑ $55.76
US Rig Count: ↓ 425

 
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