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MORNING ENERGY NEWS  | 06/17/2021
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A prospering regional economy based on the production of tangible necessities. Hopefully, the recall gets going before Gavin can "fix" that.


Real Clear Energy (6/15/21) column: "Located over the mountains from Los Angeles, Kern County has always been a different kind of place. Settled largely by “Okies and Arkies” from the Depression-era South, the area has a culture more southern than northern, more Ozarks than Sierra...and is sometimes even referred to as 'little Texas.' Its economy rested on two natural resource industries that once powered California – agriculture and oil. The region leads California in energy production and is fourth in agriculture, mainly yielding lettuce, strawberries, and grapes. Its concentration of agricultural jobs is 22 times the national average and its oil industry jobs are 6 times the national average. Although these may seem like 'old economy' jobs, the Kern area has easily outperformed zippy 'new economy' places in total job growth; outside of the Silicon Valley, notes Chapman analyst Marshall Toplansky, Kern is one of few California areas producing mid-wage jobs above the national average...In a state suffering from high housing prices and a lack of middle-wage jobs, one would think boosting Kern County and its largest city, Bakersfield (population: 700,000) would be a priority. Governor Gavin Newsom boasts that he wants to look for ways of 'unlocking the enormous potential' of the Central Valley, but he seems more interested in flattening the area’s aspirations. Climate policy sits at the core of this assault."

"So that’s the current state of play in the world of storing energy to generate electricity. Short version? We are a long, long way from batteries or other storage systems being able to hold and deliver enough energy to do anything larger than balance out short-term fluctuations in energy supply versus demand." 

 

– Willis Eschenbach,
Watts Up With That

At least someone admitted it for a change.


E&E News (6/17/21) reports: "A megadrought is gripping the West. The Texas electricity grid risks another collapse amid deadly weather. Natural disasters have swelled the number of people crossing into the U.S. from Mexico. And the hurricane and wildfire seasons are just getting started. The climate of 2021 is doing what scientists predicted: exacerbating chronic problems while creating new ones. U.S. action, though, remains far from what scientists have said is necessary to maintain a safe climate. Five months into President Biden's term, climate advocates say they are growing worried about the pace and scale of his agenda. Biden has trimmed back the promises he made during the 2020 campaign. Congress and the courts are jeopardizing some of those proposals, while the administration has been reluctant to fight specific fossil fuel projects after Biden nixed the Keystone XL pipeline on his first day...All of those factors have started to strain Biden's relationship with greens. But many seem willing to give him some more time, at least for now. 'I mean, we're the environmental advocates — so it's never good enough for us, of course,' said Nichols of WildEarth Guardians."

This guy knows what he's talking about.  


Washington Times (6/15/21) column: "Recently, President Biden unveiled a goal for the United States to reduce our greenhouse gas emissions by 50 percent by 2030 from 2005 levels.  In the weeks since then, however, his administration has yet to articulate a plan to accomplish his goal.  If the administration wants to reduce greenhouse gas emissions in an economically sustainable way, then his plan needs to focus on energy innovation like we have seen with wind, solar, and, especially, natural gas in recent years.   For most of the last four years, I led the Office of Energy Efficiency and Renewable Energy at the Department of Energy.  In that time, I oversaw nearly $10 billion in funding for renewable energy, advanced manufacturing, transportation, and building technologies.  I spent a lot of time thinking about improving and driving down the cost of technologies that reduce greenhouse gas emissions such as various forms of renewable energy. Deployment of renewables have expanded in recent years as their costs fell.  These reduced costs will lead to greenhouse gas emissions reductions continuing into the future.  One surprising fact, however, is that renewable energy isn’t the biggest contributor to the drop in U.S. greenhouse gas emissions in recent years."

Unleash American energy, repeal the Jones Act!

Hmmm...just like happened in Germany.  Green jobs become red jobs.      


Yahoo News (6/14/21) reports: "ohn F. Kerry, the special presidential envoy for climate, said only months ago that those losing fossil fuel jobs in coal and hydraulic fracturing will find they have a better choice of jobs in either the solar industry or as wind turbine technicians. That was then. Now, a wind blade manufacturing plant located in Aberdeen, South Dakota, has announced it is shutting its doors permanently in less than two months. The disappearance of Molded Fiber Glass will displace over 300 workers and their families. It marks another major loss of energy jobs in the state following President Joe Biden's halting of the Keystone pipeline on the first day of his administration. MFG said in a news release that the closure will happen because of changing market conditions, foreign competition, and proposed revisions to tax policies affecting the wind energy industry in the United States...Bloomberg New Energy Finance's recent ranking of global wind turbine manufacturers last year showed that seven of the top 10 wind turbine manufacturers are Chinese companies. General Electric, an American company, is first, but Goldwind of China is in second place. The study also found more than half of the world’s newly installed wind power capacity was built in China in 2020."

Energy Markets

 
WTI Crude Oil: ↓ $7.14
Natural Gas: ↓ $3.22
Gasoline: ~ $3.07
Diesel: ~ $3.21
Heating Oil: ↑ $210.75
Brent Crude Oil: ↓ $74.25
US Rig Count: ↑ 522

 
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