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MORNING ENERGY NEWS | 04/19/2021

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Totalitarians of a feather...

Washington Examiner (4/17/21) reports: "Left-leaning environmental activists in California are suddenly pouring millions of dollars into an obscure entity known as Energy Foundation China. The foundation also happens to be registered in California. These donations that have been brought to light by Big Green, a project of the Institute for Energy Research, deserve more scrutiny. That is, especially now that the Biden administration is pushing renewable energy initiatives that benefit Chinese manufacturers...The Institute for Energy Research, which favors policies that enable domestic energy production for the United States, has its eye on the money trail. 'The Energy Foundation appears to receive money from organizations like the Hewlett Foundation and passes it through to Energy Foundation China so that it doesn’t show on Hewlett’s tax documents directly,' IER explained in a press release. But the funds from the Hewlett Foundation are only a small part of the equation. All told, Big Green has exposed $5.7 billion in grants from well-endowed foundations similar to Hewlett into environmental pressure groups that lobby for anti-industry regulations, taxpayer-subsidized renewable energy initiatives, and costly climate change litigation."

"Getting through the 21st century without a mass-extinction event means making ourselves far more scarce."

– Kim Stanley Robinson, Bloomberg

China shows John Kerry how to reduce his carbon footprint by making him take a bus.

Quick...Get John Kerry a bus ticket to India!!!!

Energy World (4/18/21) reports: "New Delhi: Power consumption in the country grew nearly 45 per cent in the first half of April to 60.62 billion units (BU) over the corresponding period a year ago, showing robust recovery in industrial and commercial demand of electricity, according to power ministry data. Power consumption in the first half of April last year (from April 1 to 15, 2020) was recorded at 41.91 BU. On the other hand, the peak power demand met, which is the highest supply in a day, during the first half of this month remained well above the highest record of 132.20 GW in the same period in April 2020. During the first half this month, peak power demand touched the highest level of 182.55 GW on April 8, 2021, and recorded a growth of 38 per cent over 132.20 GW recorded in the entire month of April last year. Power consumption in April last year had dropped to 84.55 BU from 110.11 BU in the same month in 2019. This happened mainly because of fewer economic activities following imposition of lockdown by the government in the last week of March 2020 to contain the spread of deadly COVID-19. Similarly, peak power demand met also slumped to 132.20 GW in April last year from 176.81 GW in the same month in 2019, showing the impact of lockdown on economic activities. Experts are of the view that high growth in power consumption as well as demand in the first half this month is mainly because of base effect."

And then back through China...

The Guardian (4/14/21) column: "China must shut down nearly 600 of its coal-fired power plants in the next 10 years, replacing them with renewable electricity generation, to meet its goal of net zero greenhouse gas emissions by 2060, a report has said. But replacing the 364GW of coal generation with renewable power would achieve a net saving of $1.6tn (£1.2tn) over the period, since wind and solar power are now much cheaper than coal, according to the analysis company TransitionZero. The coal consumption of China, the world’s biggest emitter, is of global concern. The country has ramped up plans for new coal-fired power stations in an effort to spur economic growth after the recession caused by the coronavirus pandemic. Last September the country’s president, Xi Jinping, surprised the world by pledging that China would achieve net zero emissions by 2060, and that its emissions would peak before 2030. However, while climate experts have applauded the long-term goal they are concerned that allowing emissions to rise for the next 10 years will bust the global carbon budget."

Energy Markets

WTI Crude Oil: ↑ $63.29
Natural Gas: ↑ $2.72
Gasoline: ~ $2.87

Diesel: ~ $3.08
Heating Oil: ↓ $189.10
Brent Crude Oil: ↑ $66.82
US Rig Count: ↓ 520

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