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MORNING ENERGY NEWS  | 06/16/2021
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Federal judge overturns Biden's American oil embargo.


Associated Press (6/16/21) reports: " The Biden administration’s suspension of new oil and gas leases on federal land and water was blocked Tuesday by a federal judge in Louisiana who ordered that plans continue for lease sales that were delayed for the Gulf of Mexico and Alaska waters 'and all eligible onshore properties.' The decision is a blow to Democratic President Joe Biden’s efforts to rapidly transition the nation away from fossil fuels and thereby stave off the worst effects of climate change, including catastrophic droughts, floods and wildfires. U.S. District Judge Terry Doughty’s ruling came in a lawsuit filed in March by Louisiana Republican Attorney General Jeff Landry and officials in 12 other states. Doughty said his ruling applies nationwide. It grants a preliminary injunction — technically a halt to the suspension pending further arguments on the merits of the case. 'The omission of any rational explanation in cancelling the lease sales, and in enacting the Pause, results in this Court ruling that Plaintiff States also have a substantial likelihood of success on the merits of this claim,' he wrote...'This is a victory not only for the rule of law, but also for the thousands of workers who produce affordable energy for Americans,' Landry said in a statement issued shortly after the ruling."

"Climate alarmists continue to have a big problem: democracy. Every time voters are presented with something close to the actual costs of achieving draconian CO2 emissions targets, they say no." 

 

– Wall Street Journal Editorial Board

Oh the irony.


Cornwall Live (6/13/21) reports: "A fully-electric coach has found itself stranded in Cornwall after being unable to charge at five different locations across the Duchy. The Carbon Battle Bus is on a tour of the UK and this week travelled from London to Cornwall but was unable to complete its tour after finding charging points did not work. It came to Cornwall to tie in with the G7 Summit in Carbis Bay where world leaders have been discussing climate change and the need to reach targets for zero carbon...In order to make the return leg through the South West of England the coach needs a recharge. But with 60 to 70 miles it has found that there are no serviceable chargers left on the network and the five that they attempted to use in Cornwall were unable to charge the bus...In Cornwall the electric coach visited the following charging points but were unable to successfully charge the vehicle: Bodmin Business Park – Genie Point – 50kW – machine not working, despite Zapp Map not reporting an issue. Bodmin Morrisons – Genie Point – 50kW – recognised the coach but did not deliver the charge. Kingsley Village – Shell – New Motion – Tritium charger – 170 kW – registered coach and charge left on coach but would not charge Cornwall Services – Ecotricity – 50 kW – error with the charger, engineer informed but did not work. At 11pm we met a Nissan Leaf driver who had tried three other charging stations experiencing problems."

Ruining an iconic American brand to push the EV agenda. SAD!

Get these guys some freedom molecules, STAT!


National Review (6/15/21) column: "As representatives of the U.S. and Taiwan engage to reaffirm trade and investment ties this summer, liquefied natural gas (LNG) ought to be at the forefront of the conversation. The U.S. has been the world’s largest producer of natural gas for a decade...Taiwan, meanwhile, has a growing appetite for this resource and a goal to increase its use as a way to replace higher-emitting coal power. To date, President Joe Biden has been reluctant to endorse new American fossil-energy enterprises...But in the case of natural-gas exports to Taiwan, the administration would have the ability to tout potential emissions reductions. That’s because Taiwan, like the People’s Republic across the strait, is heavily reliant on coal-fired electricity generation...While supercharging the U.S.–Taiwan LNG relationship would be mutually beneficial, political barriers stateside block the way. As CPC seeks more long-term LNG contracts in the coming years, it is important for both the U.S. and Taiwan that U.S. LNG is price-competitive. For the U.S., it’s an outlet for the copious volumes of gas that are being drawn from the ground each year. For Taiwan, stronger trade bonds with the U.S. would serve as a kind of geopolitical insurance policy while also moving it toward its climate targets. West Coast export terminals are key to turning this possibility into reality."

Energy Markets

 
WTI Crude Oil: ↓ $72.07
Natural Gas: ↓ $3.20
Gasoline: ~ $3.07
Diesel: ~ $3.21
Heating Oil: ↑ $209.20
Brent Crude Oil: ↑ $74.17
US Rig Count: ↑ 519

 
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