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MORNING ENERGY NEWS | 05/13/2021
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** The left's war on energy makes energy security impossible. Who could have predicted that?
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FEE ([link removed]) (5/12/21) column: "Vickie Phillips received an unpleasant surprise when she stopped in for a fill-up at the Pop Shoppe in Greensboro, North Carolina on Monday. There was no fuel. 'I can’t believe that we’re here and can’t even get gas,' Phillips told a local TV station...There’s no question that the Colonial Pipeline is a key piece of infrastructure. Analysts have described the pipeline as one of the most vital energy arteries in the country, one capable of carrying up to 3 million barrels of fuel—gasoline, diesel and jet fuel—per day to the East Coast...This invites an important question: how was a single cyberattack able to derail an entire region of the most prosperous country in the world, disrupting the lives of millions of Americans? One answer is that we simply don’t have enough oil pipelines. The Colonial Pipeline provides nearly half—45 percent—of the fuel consumed
on the East Coast. As other astute commentators have noted, 'one pipeline network shouldn't be serving half of the East Coast's fuel needs.' The reality is regulatory hurdles have made it all but impossible to build new pipelines, which has placed a great deal of pressure on existing energy infrastructure. And it’s getting worse. Indeed, politicians are now actively scrapping pipelines that are instrumental to meeting future energy needs."


** "As countries develop they tend to pollute more to get out of poverty, but as they grow rich they are able to afford to have even cleaner air than they did before development. In fact, the above data shows there is less air pollution in London today than in 1700."
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– Peter Jacobsen, Foundation for Economic Education ([link removed])

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Worried that two tankers of fuel might be too much help, Biden Administration issues Jones Act waiver for a single tanker.

** G Captain ([link removed])
(5/13/21) reports: "With Union support, the Biden administration temporarily eased century-old U.S. shipping requirements to allow foreign tankers to transport gasoline and diesel to fuel-starved areas of the country following the Colonial Pipeline outage. A waiver has been issued for a single company to the 101-year-old Jones Act, which stipulates goods transported between U.S. ports be carried on ships built in the U.S. and crewed by American workers, Homeland Security Secretary Alejandro Mayorkas said in a Thursday statement. The move is designed to address fuel shortages spurred by the cyberattack on the Colonial Pipeline, which shut down a major artery for gasoline, diesel, and jet fuel across the U.S. East Coast. Even with fuel shipments resuming from around 5 p.m. Eastern time Wednesday, it’s unclear how long it will take for the network to return to normal...While the government has temporarily lifted U.S. ship requirements to combat fuel shortages after Superstorm Sandy, Hurricane
Harvey, and other natural disasters, the issue is politically fraught. The Jones Act is championed by some of the nation’s biggest shipbuilders and vessel operators, as well as their allies on Capitol Hill. It also has the backing of a key Biden constituency in organized labor, including the Seafarers International Union."

In a bizarre bit of doublethink, Tesla suspends the use of Bitcoin because (we’re not making this up) electricity generation uses fossil fuels.

** ([link removed])

Forget 'building back better', to build back at all we're going to need a lot more American oil.

** Energy World ([link removed])
(5/12/21) reports: " Oil demand is already outstripping supply and the shortfall is expected to widen even if Iran boosts exports as vaccinations against COVID-19 bolster the global economy, the International Energy Agency (IEA) said on Wednesday. 'The anticipated supply growth through the rest of this year comes nowhere close to matching our forecast for significantly stronger demand beyond the second quarter,' the IEA said in its monthly report, citing increased pumping from OPEC+ countries. Output from the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, the so-called OPEC+ group of producers, lagged demand by around by 150,000 barrels per day (bpd) in the second quarter, IEA said."

Energy Markets


WTI Crude Oil: ↓ $64.44
Natural Gas: ↓ $2.94
Gasoline: ↑ $3.02

Diesel: ↑ $3.15
Heating Oil: ↓ $201.44
Brent Crude Oil: ↓ $67.70
** US Rig Count ([link removed])
: ↑ 535



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