New nightmares from the sleeper in chief.

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DAILY ENERGY NEWS | 05/18/2021

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Sleepy Joe must have been on something potent when he dreamed up these ridiculous goals.

Washington Times (5/16/21) column: "If you blinked, you may have missed it, but as part of his climate summit in April, President Biden promised to reduce U.S. emissions of greenhouse gases by 50% by 2030. This promise follows on President Obama’s promise to reduce emissions by 28% by 2025 (both from a 2005 baseline). In 2019, net greenhouse gas emissions in the United States were about 5.769 billion tons. In 2005, they were 6.635 billion tons. To meet Mr. Obama’s promise, U.S. emissions would need to fall to 4.777 billion tons — or about 15% in the next 42 months or so. It is possible, but not likely. To meet Mr. Biden’s pledge, emissions would have to fall to about 3.3 billion tons, or more than 40% lower than current emissions in eight years. The pace of reductions would have to triple pretty much immediately. Electric vehicles would need to jump from 2% of total U.S. auto sales to about 50% in 2030. That’s not likely. For context, U.S. net greenhouse gas emissions fell about 13% from 2005 through 2019. For those keeping score, the U.S. has done better than pretty much any other nation during that time. Despite the promises of both former presidents, the rate of reductions is unlikely to accelerate. Every day, consumers vote with their pocketbooks and every couple of years voters vote in elections. The message both send is that they are willing to do only very modest things to address climate change. They are not willing to upend their entire lives."

"The notion that the world is moving away from fossil fuels is incorrect, at least as per the production and consumption numbers of oil, gas, and coal worldwide. "

– Vijay Jayaraj,
Cornwall Alliance for the Stewardship of Creation

You mean we can't physically or mathematically do it now? Go figure. ¯\_(ツ)_/¯

The Guardian (5/16/21) reports: "The US climate envoy, John Kerry, has said 50% of the carbon reductions needed to get to net zero will come from technologies that have not yet been invented, and said people “don’t have to give up a quality of life” in order to cut emissions. He said Americans would “not necessarily” have to eat less meat, because of research being done into the way cattle are herded and fed in order to reduce methane emissions. 'You don’t have to give up a quality of life to achieve some of the things that we know we have to achieve. That’s the brilliance of some of the things that we know how to do,' he told BBC One’s Andrew Marr show. 'I am told by scientists that 50% of the reductions we have to make to get to net zero are going to come from technologies that we don’t yet have. That’s just a reality.'"

"Let them eat cake, in their Teslas."

KTRH News Radio (5/17/21) reports: "Some are calling it a slap in the face to hard working Americans. U.S. Energy Secretary Jennifer Granholm's taunting quip while gas lines grew across the southeast from the Colonial Pipeline ransomware attack. 'If you drive an electric car this would not be affecting you, clearly,' Granholm told a reporter asking whether the pipeline shutdown bolstered the Biden-Harris green energy push. 'We obviously are all in on making sure we meet the president's goals of getting 100-percent clean electricity by 2035 and net zero carbon emissions by 2050.' Those within the oil and gas industry were not amused. 'What she's doing is basically thumbing her nose at the face of everyday Americans who, most of which, cannot afford electricc vehicles to begin with. That's the part that bothers me more,' says Thomas Pyle president of the Institute for Energy Research and American Energy Alliance. Granholm let it slip that pipelines are the most economical and safest way to transport fuel. Pyle says you will likely hear little about Colonial moving forward. 'They want this story to be over,' he says. 'The more people think about the role and the importance of these resources in their lives, the more they're going to look at what this administration is trying to do. And they're not going to be onboard with it.'”

The rule of law has prevailed, which means more calls to pack the court will be coming this week.

Washington Times (5/17/21) reports: "The Supreme Court ruled Monday in favor of energy companies fighting to stay out of state court in their battle against a Baltimore lawsuit seeking monetary damages for climate change. In its 7-1 decision, the court based its ruling on a narrow procedural matter, saying that the Fourth Circuit Court of Appeals incorrectly limited its review of the district court’s decision, a ruling that nonetheless strengthened the hand of oil-and-gas companies battling a rising tide of climate litigation. The opinion by Justice Neil Gorsuch comes with more than two dozen left-tilting municipalities and states, most recently Minnesota, suing the energy industry to pay for the alleged hit to infrastructure and public health from fossil-fuel emissions. The pro-industry group Energy Policy Advocates said the decision 'serves as another reminder of the importance of the state vs. federal jurisdictional issue in the wave of "climate" litigation washing over state courthouses around the country.' 'All of these suits represent transparent attempts to manufacture state jurisdiction for a previously admitted national campaign to substitute verdicts for a failed policy agenda,' the group said in a statement."

Energy Markets

WTI Crude Oil: ↓ $66.10
Natural Gas: ↓ $3.05
Gasoline: ~ $3.04

Diesel: ~ $3.17
Heating Oil: ↑ $206.51
Brent Crude Oil: ↓ $69.36
US Rig Count: ↓ 534

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