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MORNING ENERGY NEWS | 02/04/2021
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** Kerry has such a way with words.
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** "[Biden's 60-day moratorium] means operators have to move to less economic areas. That could mean over the border to Texas. This may lead to prices of oil and gas ticking up due to supply site destruction."
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–Sarp Ozkan, Enverus ([link removed])
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Their contempt for 'fly over country' knows no bounds.
** Fox News ([link removed])
(2/3/2021) reports: "While opponents of the long-controversial Keystone XL Pipeline cheered its cancellation by President Biden's administration, others like Nebraska truck driver Chris Olson shook their heads in dismay. 'Any of these people that work on the pipeline, all the sudden they're not making money so they're not spending money,' Olson told Fox News. 'So the community they live in is going to have less money coming in.' On his first day in office, Biden signed an executive order revoking federal permits for the project, which would bring heavy Canadian crude from the Alberta tar sands through Montana and South Dakota to link up with existing pipelines at Steele City, Neb. The executive order reads, in part, 'Leaving the Keystone XL pipeline permit in place would not be consistent with my Administration's economic and climate imperatives.'"
Thank goodness Amazon is taking such a meaningful stand...
** Amazon ([link removed])
(1/28/21) blog: "In 2019, Amazon announced that Arlington, Virginia, would be home to our second headquarters, known as "HQ2." We are thrilled to be part of this vibrant community and committed to being a good neighbor. We’re also excited to tap into the local talent pool. Already, we’re growing our HQ2 team and are well on our way to creating 25,000 new jobs over the next decade. In planning for this growth, one crucial focus area has been figuring out the best way to power what will eventually be a four-million-square-foot campus. And the answer was clear: with 100% renewable energy. This decision reflects Amazon’s long-term commitment to sustainability. As part of our commitment to The Climate Pledge, announced last year, Amazon has already begun to take steps to become net zero carbon by 2040. Incorporating sustainability into our growth plan for HQ2 is a top priority."
Oh... Someone should tell Bezos, or whoever is running the show over there these days.
** Reuters ([link removed])
(2/2/21) reports: "China put 38.4 gigawatts (GW) of new coal-fired power capacity into operation in 2020, according to new international research, more than three times the amount built elsewhere around the world and potentially undermining its short-term climate goals. The country won praise last year after President Xi Jinping pledged to make the country 'carbon neutral' by 2060. But regulators have since come under fire for failing to properly control the coal power sector, a major source of climate-warming greenhouse gas. Including decommissions, China’s coal-fired fleet capacity rose by a net 29.8 GW in 2020, even as the rest of the world made cuts of 17.2 GW, according to research released on Wednesday by Global Energy Monitor (GEM), a U.S. think tank, and the Helsinki-based Centre for Research on Energy and Clean Air (CREA). 'The runaway expansion of coal-fired power is driven by electricity companies’ and local governments’ interest in maximising investment spending, more than a
real need for new capacity,' said Lauri Myllyvirta, CREA lead analyst."
Energy Markets
WTI Crude Oil: ↑ $55.93
Natural Gas: ↑ $2.80
Gasoline: ~ $2.44
Diesel: ↑ $2.66
Heating Oil: ↑ $169.12
Brent Crude Oil: ↑ $58.65
** US Rig Count ([link removed])
: ↑ 440
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