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MORNING ENERGY NEWS | 08/18/2021
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** But all the Teslas are in California, where there's no water!
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The Hill ([link removed]) (8/17/21) reports: "Firefighters needed 40 times the amount of water normally used to contain a fire of a gas-powered vehicle when attempting to extinguish a blaze when a Tesla crashed. 'Normally a car fire you can put out with 500 to 1,000 gallons of water,' Austin Fire Department Division Chief Thayer Smith said, according The Independent. 'But Teslas may take up to 30,000-40,000 gallons of water, maybe even more, to extinguish the battery pack once it starts burning and that was the case here.' Video footage obtained by Fox 7 shows a driver of the electric vehicle slamming into gas tanks at a station in Tarrytown. Authorities said the lithium battery cells powering the Tesla Model X can cause fires long after a crash — a situation Division Chief Eddie Martinez told Fox 7 the department was prepared to address. "


** "The Biden EV plan, encapsulated in the $3.2 trillion appropriation the green left insists accompany the $1.1 trillion “infrastructure” bill, would push the U.S. out of reality into a pie-in-the-sky scheme. The race is already being lost to construct a green grid. Forcing tens of millions of EVs into that mix is only going to make blackouts and mileage restrictions routine."
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– Duggan Flanakin, CFACT ([link removed])

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Hey Joe, instead of begging Russia and the Middle East for more oil, how about holding a lease sale like you are required to do?

** WEA ([link removed])
(8/17/21) blog: "It’s official. The Biden Administration will conduct no lease sales this quarter or in the 2021 fiscal year that ends September 30th. August 15th marked the 45-day deadline to announce a lease sale before the end of the quarter as required by the Mineral Leasing Act. It also marked 60 days since Judge Terry Doughty in the Western District of Louisiana issued a preliminary injunction overturning the leasing ban. As anticipated, the Interior Department announced the appeal to the Fifth Circuit on the last possible day. The justification of course started with climate change, which we all know is practically irrelevant as federal production would simply be displaced to nonfederal lands or overseas. Hence President Biden’s plea to Russia and OPEC just the week before to increase production. ​What’s more interesting to me is the arm-waving litany of other excuses: '…past operation of the program did not adequately reflect the breadth of the Interior Secretary’s stewardship
responsibilities, including conserving wildlife habitat, protecting historic and cultural resources, ensuring that public lands are available for multiple uses…' and '…inadequately account[ed] for environmental harms to lands, waters, and other resources…' Anyone who has ever operated on federal lands and has had to perform countless environmental protection steps knows how untrue that is."

Jake Sullivan begs OPEC+ to pump more oil. Saudi Arabia to America: pound sand. Wait, I thought America was back?

** EIA ([link removed])
(8/18/21) reports: "In our August Short-Term Energy Outlook (STEO), we forecast that total world petroleum production will average 98.9 million barrels per day (b/d) in the second half of 2021 (2H21), down from a forecast of 99.4 million b/d in the July STEO. The change is driven mostly by forecast changes to petroleum production from OPEC and Russia as a result of the most recent OPEC+ agreement. We decreased our forecast for world petroleum production in 2021 because of lower forecast production from OPEC, which is only slightly offset by increased forecast production from Russia. We forecast that global petroleum production in 2022 will average 101.8 million b/d—20,000 b/d less than we forecast in the July STEO. On July 18, OPEC+, which includes OPEC and several non OPEC members (including Russia), agreed to increase monthly crude oil production starting in August 2021. The latest agreement calls for total OPEC+ crude oil production to increase by 400,000 b/d each month until the
previous production cuts are fully reversed, which would occur by the third quarter of 2022 if implemented at that rate. However, OPEC+ extended the production agreement to include monthly meetings through the end of 2022 so that it can adjust production targets as necessary."

A lousy couple of weeks for this guy. The botched negotiations with OPEC+ was bad enough, but this one may cost American lives. Was getting rid of the orange man really worth the price we are paying?

** ([link removed])

Energy Markets


WTI Crude Oil: ↑ $66.86
Natural Gas: ↓ $3.83
Gasoline: ~ $3.18

Diesel: ~ $3.29
Heating Oil: ↑ $204.66
Brent Crude Oil: ↑ $69.46
** US Rig Count ([link removed])
: ↓ 567



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