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MORNING ENERGY NEWS  |  7.18.2019
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American Energy Dominance


Oilprice.com (7/17/19) reports: "The United States will surpass current market leaders Australia and Qatar to become the world’s biggest liquefied natural gas (LNG) exporter in 2024, a high-ranking official at the International Energy Agency (IEA) said on Tuesday. The U.S. exports of LNG are expected to exceed 100 billion cubic meters (bcm) in 2024, beating Qatar and Australia to the top spot, IEA’s Head of the Gas, Coal and Power Markets Division, Peter Fraser, said at a presentation sponsored by Columbia University’s School of International and Public Affairs Centre on Global Energy Policy."

"Because of battery limitations, most EVs are small to medium-sized sedans.  But consumers want bigger cars.  As recently as 2014, sedans accounted for a majority of personal vehicle sales.  Today, with consumers buying more SUVs and pickups, sedans account for far fewer auto sales.  Relatively inexpensive gasoline, along with the perceived safety of larger and heavier vehicles, is helping spur the move to larger vehicles that are likely to remain well ahead of EVs for the foreseeable future."

 

– Gerald Scimeca, Consumer Action for a Strong Economy

Go west young man, haven't you been told?


Washington Examiner (7/16/19) reports: "The Trump administration is shifting most of the Bureau of Land Management's personnel in its Washington, D.C. headquarters out west by the end of next year. Joe Balash, assistant secretary of Department of the Interior, sent a 17-page letter to lawmakers on Tuesday outlining the reorganization, according to the Washington Post. Over 80% of the agency’s D.C. staff will be relocated to further west to states such as Arizona, Colorado, New Mexico, and Utah. Twenty-seven management positions will be moved to Grand Junction, Colorado, to build a second agency headquarters. Dozens of other employees will begin reporting to state managers instead of officials in Washington, D.C."

Full throttle crony capitalism in Ohio.
 

Toledo Blade (7/17/19) reports: "Beginning in 2021, House Bill 6 requires monthly surcharges on electric bills ranging from 85 cents for residential customers to $2,400 for major industrial plants to fuel a $170 million-a-year fund. Of that, $150 million would go to First Energy Solutions’ Davis-Besse nuclear plant in Oak Harbor and the Perry plant east of Cleveland and $20 million would go to five utility-scale solar fields that have already received siting approval. At the request of Gov. Mike DeWine, the Senate at the last minute voted to delay the start of the surcharges by a year, which would also delay the first $150 million check to FES. Senate President Larry Obhof (R., Medina) said the company was more concerned about the certainty of the funding than its timing. FES, currently in bankruptcy proceedings, has said it would begin decommissioning both plants because they’ve been unable to compete economically with cheaper and abundant natural gas."

Wave goodbye to the Clean Power Plan.


Real Clear Energy (7/17/19) od-ed: "Recently, the U.S. Environmental Protection Agency (EPA) finalized the Affordable Clean Energy (ACE) rule to reduce carbon emissions from the nation’s fleet of coal-fired power plants.  The ACE rule is replacing the Obama administration’s Clean Power Plan. The new rule is legal and sensible, adjectives that do not describe the Clean Power Plan.  Many people might have forgotten that the Clean Power Plan was so bad that 27 states opposed it, and the U.S. Supreme Court stayed the rule (the stay is still in effect). The Clean Power Plan would have been expensive and would have given EPA too much control over each state’s electricity supply."

It's getting better all the time. Better, better, better...


The HIll (7/17/19) reports: "The Environmental Protection Agency (EPA) pointed to a new study released Wednesday to emphasize what it characterized as the Trump administration’s achievements in decreasing air pollution. The report showed that emissions from all six measured criteria air pollutants decreased between 2016 and 2018, the years Trump has been in office. It hailed this as part of decades-long trend of falling pollution rates that began in 1970, when the Clean Air Act was implemented. The results of the annual national air quality report showed that the emissions of six key pollutants dropped by 74 percent in that time period."

Energy Markets

 
WTI Crude Oil: ↑ $57.09
Natural Gas: ↑ $2.33
Gasoline: ↓ $2.79
Diesel: ↓ $3.01
Heating Oil: ↑ $190.78
Brent Crude Oil: ↑↓ $64.15
US Rig Count: ↓ 998

 
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