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MORNING ENERGY NEWS  | 07/09/2021
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One of the richest states in the richest country in human history and this is what they are subjecting their residents to in the name of the green dream.


Reuters (7/8/21) reports: " California's power grid operator on Thursday issued a 'flex' alert for Friday, asking consumers to conserve energy from 4 p.m. to 9 p.m. as high demand driven by extreme heat could trigger a capacity shortfall on the state's electric grid. If the grid is still unable to meet power needs and other tools for emergency conditions also fall short, the California Independent System (ISO), the grid operator, said in a statement that it could order utilities to implement rotating power outages, 'although that is not anticipated at this time.' The ISO on July 1 said it would procure additional power capacity again this year as California reels from a heat wave. A heat wave that gripped parts of the United States and Canada last month strained power grids in California and Texas, sending power prices in some regions soaring to their highest level in months."

"National politics start at the local level! So, when fuel is up to $5.00 a gallon, your utility bills also swell to support green energy politics and subsidies. If you’re angry about it and what Joe Biden is doing, call your local elected officials and ask them what they exactly they are doing about it. Have they taken positions, written letters or demanded a meeting with their Congressman?." 

 

– Victor Furman, Natural Gas Now

Backwards Biden is begging tyrants in the Middle East to produce more oil while doing everything in his power to stop American production.


Wall Street Journal (7/6/21) column: "As cognitive dissonance goes, this is a classic. President Biden’s explicit policy goal is to reduce U.S. oil and gas production, limiting the global supply of fossil fuels in the name of fighting climate change. Yet his Administration is now imploring the OPEC oil cartel to pump more oil so U.S. gasoline prices don’t rise more than they already have on Mr. Biden’s watch. Oil prices climbed to a six-year high on Tuesday after the Organization of the Petroleum Exporting Countries and Russia failed to agree on increasing production quotas. Last spring OPEC slashed production quotas after crude prices plunged to $20 per barrel amid economic lockdowns and a price war between Saudi Arabia and Russia. But energy demand has snapped back in much of the world as Covid-19 vaccines roll out, governments ease lockdowns, and freight shipments surge. U.S. petroleum consumption is now roughly where it was at this time in 2019. OPEC estimates that oil demand in industrialized countries will increase by 2.7 million barrels a day this year...But note the irony that Mr. Biden is now urging OPEC to open its taps even while his Administration is pursuing policies with the goal of shutting down U.S. oil and natural gas production. His Administration has sought to halt new leases on federal land, suspended leases in Alaska’s Arctic National Wildlife Refuge, and is expanding endangered-species protections to limit oil production on private land, among other policies designed to punish fossil fuels."

Making the numbers work.


Utility Dive (7/8/21) reports: "A coalition of consumer advocates, pro-market groups and others is calling on Congress to direct an independent agency to conduct a first-of-its-kind cost analysis on organized power markets in the U.S. The letter, sent Thursday, was spearheaded by the Electricity Consumers Resource Council (ELCON) and includes a wide array of groups including Public Citizen, Energy Choice Coalition, R Street Institute, state-level consumer advocates and others. It asks Congress to direct the Government Accountability Office (GAO) to conduct a detailed cost analysis of organized markets that are under the Federal Energy Regulatory Commission's jurisdiction. The effort comes in the midst of rising debate in traditionally regulated, vertically integrated utility regions about whether forming or joining a regional transmission organization (RTO) could save customers money and accelerate the transition to clean energy...'It's still FERC policy to encourage RTO formation,' said Travis Fisher, president and CEO of ELCON. 'And what FERC has said in its orders is basically that RTOs benefit consumers. And I don't challenge that premise; I actually think they do. I just think it's unfortunate that nobody has backed it up with data.'"

Europe is hoping for some freedom molecules this Christmas season.


Reuters (7/7/21) reports: "European gas prices vaulted to record highs this summer, driven by factors ranging from low inventories and outages to an Asian buying spree, and signalling further rises in coming months that could mean higher household bills this winter. The front month contract at the Dutch TTF hub , a key European benchmark, hit 38.65 euros ($45.77) per megawatt hour on Tuesday, its highest since Refinitiv Eikon records began. The British front month contract reached a record 93.35 pence per therm on Monday...A cold winter at the beginning of this year prompted large drawdowns in storage stocks, which would usually be replenished during summer months when demand tends to be weaker...Gas scarcity this summer is already affecting winter gas contracts. Britain's winter 2021 contract hit 100 pence per therm on Tuesday, the highest for that contract since Refinitiv Eikon records began. Price spikes in the wholesale gas market, if prolonged, can drive up retail gas prices for households. In Britain, wholesale prices make up around a third of consumer energy bills. A cap on the most widely used British electricity and gas tariffs rose in a review in April and is expected to rise further in the next review this autumn as wholesale prices rise."

If you oppose a carbon tax, take a stand and contact us.
Tom Pyle, American Energy Alliance
Myron Ebell, Competitive Enterprise Institute
Phil Kerpen, American Commitment
Andrew Quinlan, Center for Freedom and Prosperity
Tim Phillips, Americans for Prosperity
Grover Norquist, Americans for Tax Reform
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Richard Manning, Americans for Limited Government
Adam Brandon, FreedomWorks
Craig Richardson, E&E Legal
Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Nathan Nascimento, Freedom Partners Chamber of Commerce
Isaac Orr, Center of the American Experiment
David T. Stevenson & Clint Laird, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America

Energy Markets

 
WTI Crude Oil: ↑ $74.19
Natural Gas: ↑ $3.69
Gasoline: ↑ $3.14
Diesel: ↑ $3.26
Heating Oil: ↑ $215.01
Brent Crude Oil: ↑ $75.19
US Rig Count: ↓ 529

 
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