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MORNING ENERGY NEWS  | 02/10/2021
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Let me circle back with you on that...


Daily Caller (2/8/21) reports: "White House press secretary Jen Psaki and Fox News reporter Peter Doocy went back and forth during Monday’s White House press briefing over President Joe Biden’s promise to provide 'green jobs' to workers formerly employed in the fossil fuels industry. When called on by Psaki, Doocy began by asking about the thousands of workers in the fossil fuels industry who are out of a job, or may soon be out of a job, due to the Biden administration’s policies concerning the industry. 'When is it that the Biden administration is going to let the thousands of fossil fuel industry workers, whether it’s pipeline workers or construction workers, who are either out of work or will soon be out of work because of the Biden EO, when it is and where it is they can go for their green job?' Doocy asked. 'That is something the administration has promised. There is now a gap, so I’m just curious when that happens, when those people can count on that?'"

"Cold, dark, and biting winters illustrate more than anything else that nature is not nice. We should thank our lucky stars – or more properly the profit-seeking innovators and capitalists around the world – for the wool gloves and fossil fuels and heated homes that protect us from the elements." 

 

– Joakim Book,
American Institute for
Economic Research

Blind squirrel finds but doesn’t realize it is a nut:


LA Times (2/9/2021) reports: "The undersea power line would run south from San Luis Obispo County, hugging the California coast for 200 miles before making landfall in or near Los Angeles. It would be able to carry electricity from a fleet of offshore wind turbines, providing Southern California with clean power after sundown and helping to replace fossil-fueled generators. Fewer planet-warming emissions, less risk of blackouts and no chance of igniting the wildfires sometimes sparked by traditional power lines: Those are the arguments for the $1.9-billion Pacific Transmission Expansion. Yet state officials haven’t shown much interest. To understand why, you need to look beyond the sheen of California’s impressive climate targets and navigate the labyrinth of cautious regulators and bureaucratic silos that critics say are stifling badly needed clean energy infrastructure — and will keep doing so unless Gov. Gavin Newsom demands greater urgency. Policymakers across the country are looking to California to show that it’s possible to phase out fossil fuels. State law mandates 100% clean energy by 2045, and until recently, things seemed to be going well. Nearly two-thirds of California’s electricity came from climate-friendly sources in 2019, against the backdrop of a growing pre-pandemic economy. Two evenings of rolling blackouts in August 2020 offered a warning of more challenging times ahead."

This ought to save the economy, subsidizing $8,000 electric bikes!

It takes a kooky salesman to sell a kooky plan. 


CBC (2/10/21) reports: "Comedian Will Ferrell smashed a globe with his fist, caught an arrow in his mouth and travelled to Sweden aboard a storage tanker on Sunday. And it had nothing to do with promoting another goofball buddy flick. It was a Super Bowl commercial launched by General Motors as the largest U.S. automaker marked its newfound ambitions as an electric-carmaker. Less than two weeks ago, GM caught some people by surprise with its pledge to make the vast majority of the vehicles it produces electric by 2035. Amid growing calls for action on climate change, some argue it has the potential to be transformative. And for the North American energy sector, particularly oil and gasoline producers, understanding the implications of the electric vehicle (EV) push just became that much more urgent."

Energy Markets

 
WTI Crude Oil: ↑ $58.48
Natural Gas: ↑ $2.87
Gasoline: ↑ $2.47
Diesel: ↑ $271
Heating Oil: ↑ $175.85
Brent Crude Oil: ↑ $61.33
US Rig Count: ↓ 433

 
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