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MORNING ENERGY NEWS | 05/24/2021
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** All pipelines are equal, but some pipelines are more equal than others, says Comrade Biden. Find out which ones make the cut on the latest episode of AEA's Unregulated Podcast. Now Streaming. ([link removed])
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** "It is unlikely that a national climate bank would provide any meaningful incentives for incremental third-party private-sector capital for green investments, given the lack of underwriting expertise of a new, politically driven financial institution. "
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– Paul H. Tice, Wall Street Journal ([link removed])
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Whistlin' past the graveyard is a very trendy fashion these days in Washington.
** Wall Street Journal ([link removed])
(5/21/21) reports: "China is tightening its grip on the global supply of processed manganese, rattling a range of companies world-wide that depend on the versatile metal—including the planet’s biggest electric-vehicle makers.China produces more than 90% of the world’s manganese products, ranging from steel-strengthening additives to battery-grade compounds...China’s metal industries already dominate the global processing of most raw materials for rechargeable batteries, including cobalt and nickel. Three-quarters of the world’s lithium-ion batteries and half of its electric vehicles are made in China...High-purity forms of manganese have increasingly become crucial for battery-powered automobiles, touted by Volkswagen AG and Tesla Inc. in recent months as a viable replacement for other, more-expensive battery ingredients."
First pipelines are good, now this. Secretary Jenny sets the record straight, again. If she keeps this up, Joe might take her microphone away.
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Uh oh, sounds like they're in for a stern finger-wagging from "Special Envoy" Kerry. And don't forget, you must always say "special envoy" in your best Thurston Howell III accent.
** CNN ([link removed])
(5/21/21) reports: "China's plan to build its way out of the pandemic is pushing its carbon emissions to record highs, new research has found. The country's CO2 emissions from fossil fuels and cement production grew 14.5% in the first quarter of 2021 compared to the previous year, according to a Thursday report from the Centre for Research on Energy and Clean Air (CREA). That's the fastest rate of growth in more than a decade, lead analyst Lauri Myllyvirta wrote. Emissions were also 9% higher than they were in the first quarter of 2019, before the pandemic. As a result, China's emissions generated nearly 12 billion metric tons of CO2 in the year ending March 2021, a record high...Recent data from Carbon Monitor has shown an uptick in China's carbon emissions, too. The global CO2 emissions tracker said the country's emissions in the first quarter increased 21% year-on-year, fastest among the world's major emitters."
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Energy Markets
WTI Crude Oil: ↑ $65.00
Natural Gas: ↓ $2.87
Gasoline: ↓ $3.03
Diesel: ↓ $3.17
Heating Oil: ↑ $202.37
Brent Crude Oil: ↑ $67.84
** US Rig Count ([link removed])
: ↑ 519
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