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MORNING ENERGY NEWS  | 05/17/2021
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Lessons from the Colonial Pipeline incident and the green left's latest hypocrisy exposed on the latest episode of The Unregulated Podcast. Now streaming.

The show is available on all your favorite platforms including Apple Podcasts, Spotify, Stitcher, Podbay, Sound Cloud, Blubrry, and TuneIn.

"The recent hack of the Colonial Pipeline demonstrates a clear need for reliable oil and gas transport across the United States. As admitted by Energy Secretary Jennifer Granholm, pipelines are the most reliable method for transporting fuel." 

 

– Adam Brandon, FreedomWorks

The electrification activists don't seem to understand that electricity has to come from somewhere.


Wall Street Journal (5/15/21) reports: "If you’ve lost power anytime recently, you’ve come face to face with one of the fundamental truths about energy today: There are a lot of things we once could do without electricity that now require it. You’ve also come face to face with one of the hottest, and most poorly understood, buzz phrases in energy—the 'electrification of everything.' The concept, most simply put, is that more of the energy we use will come from the electric socket. Instead of having fuels like natural gas or oil or gasoline flow directly into our homes, offices, manufacturing facilities and cars, those fuels—and other sources of energy—will increasingly be converted to electricity first...And that trend will only accelerate. The Biden administration’s infrastructure bill, for instance, has set aside $174 billion for electric vehicles and related public charging stations...But while the idea of such a radical transformation of our energy system is a simple one, it raises a host of complex questions. Among them: What are the implications of getting from here to there? What are the possible benefits? What are the possible risks? And if this change is inevitable, what should we be doing to prepare for it? Because here’s another fundamental truth about energy today: The electrification of (almost) everything is coming, and we’re just not ready for it."

As if America isn't dealing with enough infrastructure problems...


Bloomberg (5/17/21) reports: "They’re quiet, don’t rumble like the average semi, and will decrease transportation emissions, but electric trucks pose a potential engineering problem on their way to being part of a climate solution: They’re heavy. The batteries and other parts needed to propel green models could weigh up to 5,300 pounds more than diesel components, which is unwelcome news for the nation’s already stressed roads and bridges. But California is moving forward, betting on legal weight limits and technology to lighten the load as it embarks on its ambitious, first-in-the-nation regulation to put hundreds of thousands of electric trucks on the road within 25 years. 'I think it’s ultimately an engineering challenge—and engineering challenges are solvable by nature,' said Tyson Eckerle, deputy director for zero emission vehicle market development in the California Governor’s Office of Business and Economic Development. Still, as California officials focus on expanding the market and infrastructure for green cars and trucks, weight is 'something we can’t lose sight of,' Eckerle said."

But at least this saga reminded people the importance of real energy infrastructure. 


CNBC (5/15/21) reports: "Colonial Pipeline has returned its entire system to normal operations and is delivering millions of gallons of fuel each hour after a ransomware attack forced the company shut its network last Friday. The company said Saturday that its pipeline is now servicing all markets, including Texas, Louisiana, Mississippi, Alabama, Tennessee, Georgia, South and North Carolina, Virginia, Maryland, D.C., Delaware, Pennsylvania and New Jersey. However, there are still widespread fuel shortages in many of those markets. In Washington, the nation’s capital, 80% of gas stations are without fuel, according to the latest data from GasBuddy. In North Carolina 63% of stations are short, in Georgia and South Carolina more than 40%, and in Virginia 38%. The cyberattack had forced the company to shut down approximately 5,500 miles of pipeline and triggered widespread fuel shortages in the Southeast and panic buying in some states. Colonial carries nearly half of the fuel supply on the East Coast, including gasoline, diesel fuel, heating oil and jet fuel. Colonial restarted operations around 5 p.m. ET on Wednesday but warned that the pipeline would not be fully functional immediately."

Energy Markets

 
WTI Crude Oil: ↑ $65.47
Natural Gas: ↑ $3.12
Gasoline: ↑ $3.04
Diesel: ↑ $3.17
Heating Oil: ↑ $204.70
Brent Crude Oil: ↑ $68.80
US Rig Count: ↑ 537

 
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