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MORNING ENERGY NEWS | 03/31/2021
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** Joe wants an all EV future, but no U.S. copper production. Something isn't clicking here.
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Seeking Alpha ([link removed]) (3/29/21) reports: "Copper demand is expected to increase as more electric vehicle manufacturers ramp up production. Morgan Stanley breaks down the impact of EVs on copper supply. 'Our commodity team assumes an average of 20kg of copper in the average ICE light vehicle and 75kg per copper in the average BEV. Applied to our de-adoption of ICE and our adoption of BEVs in our global auto forecast suggests a growth in copper demand for light vehicles (excluding infrastructure) to approximately 3.4 million tons by 2030 vs. around 1.6 million tons today for a CAGR just shy of 8%.' MS notes that the global copper market is a 22M ton market for refined copper with the total market being around 28M tons which includes 6M tons of scrap in between. MS sees a risk in the middle of the decade of a copper shortage and notes a copper substitute could be more than ten years out.
Copper prices are already near their 10-year highs. Tesla has been warning for the last couple of years about a potential global shortage of battery minerals."
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** "An all-renewable electric grid dependent on wind and sunlight is the wrong answer if we want to avoid the chaos and loss that, as Texas reminds us, large-scale disruptions to our electric system can bring."
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– Peter Z. Grossman, Inside Sources ([link removed])

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There's no way Snooki and The Situation are gonna let Biden get away with this malarkey.

** NBC ([link removed])
(3/29/21) reports: "The Atlantic Ocean off of New Jersey and New York will become the epicenter of a national effort this decade to energize its power grid with renewable sources like wind and solar after President Joe Biden named the continental shelf off the two states as a 'wind energy area.' The White House's announcement Monday locks in the federal government to an already all-in race by Mid-Atlantic coastal states to build thousands of skyscraper-sized turbines. The efforts to build wind farms from North Carolina's Outer Banks to Cape Cod off of Massachusetts are already nearly a decade in the making, with 17 current projects in development up and down the coast. Several are in planning stages for the waters off of New Jersey and New York. All involve European power companies, including the Danish developer Ørsted, which in 2019 won New Jersey's first bid for a farm."

In the running for the all-time greatest shot & chaser combo.

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The greens are always looking for new fronts in their war on working families.

** Colorado Politics ([link removed])
(3/25/21) column: "For over 33 years, Greeley-Weld Habitat for Humanity has helped marginalized, low-income families achieve strength, stability, and self-reliance through affordable homeownership. In that time, we’ve built 162 homes in Weld County as a way to give a hand up, not a handout, to those in need. In Weld County, 22% of families are renter households and are extremely low income...There has been talk of Colorado communities and homeowners considering electrification as a possible solution to combat climate change. But more than 1.8 million households throughout the state already depend on cost-friendly natural gas to help heat their homes and power appliances — including many of the homes we have helped build and hope to continue to build in the future. We all want to work together to create a clean and environmentally sustainable energy future, but we can’t do it at the expense of low-income families...Homeowners need access to reliable, affordable and safe energy. New advances
in technology and efficiency programs in the natural gas industry allow families to save energy and reduce costs and emissions. "

Energy Markets


WTI Crude Oil: ↑ $60.60
Natural Gas: ↑ $2.65
Gasoline: ↑ $2.87

Diesel: ~ $3.09
Heating Oil: ↓ $178.60
Brent Crude Oil: ↓ $63.90
** US Rig Count ([link removed])
: ↓ 483



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