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MORNING ENERGY NEWS | 04/30/2021
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** They really have no idea what they are proposing.
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Bloomberg ([link removed]) (4/29/21) reports: "At his international climate summit last week, President Joe Biden vowed to cut U.S. greenhouse gas emissions in half by 2030. The goal will require sweeping changes in the power generation, transportation and manufacturing sectors. It will also require a tremendous amount of land. Wind farms, solar installations and other forms of clean power take up far more space on a per-watt basis than their fossil-fuel-burning brethren. A 200-megawatt wind farm, for instance, might require spreading turbines over 19 square miles (49 square kilometres). A natural-gas power plant with that same generating capacity could fit onto a single city block. Achieving Biden’s goal will require aggressively building more wind and solar farms, in many cases combined with giant batteries. To fulfill his vision of an
emission-free grid by 2035, the U.S. needs to increase its carbon-free capacity by at least 150%. Expanding wind and solar by 10% annually until 2030 would require a chunk of land equal to the state of South Dakota, according to Bloomberg and Princeton University estimates. By 2050, when Biden wants the entire economy to be carbon free, the U.S. will need up to four additional South Dakotas to develop enough clean power to run all the electric vehicles, factories and more."


** "President Biden's decision to heavily promote a business where his energy secretary holds a multimillion-dollar stake has all the potential to be even worse than Solyndra. President Biden and Secretary Granholm should immediately remove themselves from their glaring conflict of interest."
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–Ted Cruz, Junior United States Senator for Texas ([link removed])

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We watched Biden's address so you didn't have to. Get the highlights on the latest episode of The Unregulated Podcast. Also, if you haven't hugged a bunny lately, we highly recommend it. Give a listen while you're working in your yard this weekend...

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"Reliable energy: the only choice for a country like me."

** CNBC ([link removed])
(4/29/21) reports: "China has ambitious goals for cutting its carbon emissions, but it won’t be abandoning coal power anytime soon as it keeps its eye firmly on economic targets. President Xi Jinping said in September that the country’s carbon emissions would begin to decline by 2030, and he said the country will reach carbon neutrality by 2060 — in four decades. n the meantime, policymakers are making clear that economic growth remains a top priority — and that growth depends largely on coal power. Beijing has a GDP target of 6% this year, a level which analysts say would allow authorities to tackle long-term problems such as the country’s high debt levels. 'China’s energy structure is dominated by coal power. This is an objective reality,' said Su Wei, deputy secretary-general of the National Development and Reform Commission...'Because renewable energy (sources such as) wind and solar power are intermittent and unstable, we must rely on a stable power source,' Su said. 'We have no other
choice. For a period of time, we may need to use coal power as a point of flexible adjustment.' He added that coal is readily available, while renewable energy needs to develop further in China."

China won't be the only one getting a free ride from America's unilateral energy disarmament.

** National Review ([link removed])
(4/29/21) column: "Last week, in an effort to reinstall the United States to a position of diplomatic visibility, Joe Biden convened a virtual meeting of political leaders from three dozen countries to discuss global climate strategy. The feather in Biden’s cap was that China’s Xi Jinping agreed to attend and deliver an address. The conventional wisdom holds that the U.S. and China, acting in concert, can begin to curb global emissions and that this meeting was a hopeful start...All but forgotten in this discussion, however, are the ten countries that compose the Association of Southeast Asian Nations (ASEAN): Indonesia, the Philippines, Vietnam, Thailand, Myanmar, Malaysia, Cambodia, Laos, Singapore, and Brunei. Today, the ASEAN population stands at about 650 million — almost exactly half of China’s. But unlike the giant to the north, ASEAN countries are young and, by comparison, have growing populations. By the middle of the next decade, ASEAN could add close to 100 million more
people and eclipse Japan and the European Union to become the world’s fourth-largest economy. With that growth will come enormous emissions increases that the global climate movement tends to ignore. Among the Biden climate-bash invitees, only three came from ASEAN countries: Indonesia’s Joko Widodo, Vietnam’s Nguyễn Phú Trọng, and Singapore’s Lee Hsien Loong. Glaringly omitted was Rodrigo Duterte of the Philippines, a country that exemplifies the economic (and emissions) potential of the region.

For decades the Soviet Union blamed bad weather for the failure of is collectivized farm system. Uh...

** Reuters ([link removed])
(4/29/21) reports: "Lower wind speeds and cable problems hit first-quarter earnings at Denmark's Orsted, sending shares in the world's biggest offshore wind farm developer lower on Thursday. Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 4.9 billion Danish crowns ($799 million), missing analysts' consensus forecast of 5.2 billion crowns. However, Chief Executive Mads Nipper said the company's operational performance 'was good during Q1 2021 and slightly exceeded our expectations'. Nipper took the helm in January. His predecessor, Henrik Poulsen, stepped down after leading the energy company's transformation away from fossil fuels. Orsted said quarterly earnings suffered from significantly lower wind speeds compared to last year, and a warranty provision of 800 million crowns made after it discovered cable problems at its offshore wind farms in Europe. Investigations into the extent of the issue are ongoing, Chief Financial Officer Marianne Wiinholt told a
media briefing, but added the problem was limited to ten offshore wind farms at most. They are in the United Kingdom and Continental Europe and equipped with a cable protection system Orsted no longer uses. Orsted estimated fixing the problems could cost 3 billion crowns in total between 2021 and 2023. Sydbank analyst Per Fogh described the issue as a significant expense', but said Orsted's underlying business was doing well, despite earnings coming in below expectations."

If you oppose a carbon tax, take a stand and ** contact us. (mailto:[email protected])

** ([link removed])

Tom Pyle, American Energy Alliance
Myron Ebell, Competitive Enterprise Institute
Phil Kerpen, American Commitment
Andrew Quinlan, Center for Freedom and Prosperity
Tim Phillips, Americans for Prosperity
Grover Norquist, Americans for Tax Reform
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Richard Manning, Americans for Limited Government
Adam Brandon, FreedomWorks
Craig Richardson, E&E Legal
Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Nathan Nascimento, Freedom Partners Chamber of Commerce
Isaac Orr, Center of the American Experiment
David T. Stevenson & Clint Laird, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America

Energy Markets


WTI Crude Oil: ↓ $63.58
Natural Gas: ↑ $2.96
Gasoline: ↑ $2.89

Diesel: ↑ $3.08
Heating Oil: ↓ $192.10
Brent Crude Oil: ↓ $67.31
** US Rig Count ([link removed])
: ↓ 521



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