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MORNING ENERGY NEWS | 08/25/2021
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** To "save" humanity Big Green, Inc. is willing to sacrifice most humans to unimaginable poverty.
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Real Clear Energy ([link removed]) (8/23/21) reports: "The Covid-19 pandemic has been particularly cruel to the developing world, with Africa, Latin America, and South Asia all epicenters of high fatalities. But something worse may be on the way – this time not from viruses but good intentions, bolstered by often-unrealistic climate projections, which threaten to keep these countries in poverty for the foreseeable future...The western greens, albeit unintentionally, are essentially turning the Third World into the place they send their dirty work. Already, notes environmental author Mike Shellenberger, Africans are stuck with loads of discarded, highly toxic solar panels that expose both the legions of rag-pickers and the land itself to environmental degradation – all in the name of environmentalism. The developing world deserves better. If the advanced economies wish to impose draconian limitations on
themselves, that’s one thing. That battle will divide those societies, and will continue to accelerate class conflicts, as evidenced by the gilets juanes protest in France. But in the developing world, where a majority of the world’s people reside, it could mean a far greater tragedy – permanent consignment to poverty, with consequences that will inevitably be felt, whether in armed conflicts or mass migration, even inside the green cocoon of the West’s ruling classes."


** "To be sure that we attain the 7.5 percent per year emissions reduction trajectory needed to meet the Paris goal, we must do more to keep fossil fuels in the ground. We need a policy on the supply side of the equation that puts a hard limit—a cap that declines by 7.5 percent each year—on the total fossil carbon we allow into our economy and ultimately into our air."
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–James K. Boyce, Scientific American ([link removed])

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They must not have heard the special envoy when he visited...

** Reuters ([link removed])
(8/24/21) reports: "China’s provinces are still planning to launch more than 100 gigawatts (GW) of new coal-fired power capacity despite a decline in new approvals in the first half of 2021, environmental group Greenpeace said on Wednesday. Local planning agencies approved 24 new coal-fired power plants with a total capacity of 5.2 GW in the first six months of 2021, Greenpeace said. The figure is down nearly 80% from a year earlier, when new projects surged to help China’s post-lockdown recovery, but it puts total planned capacity on China’s provincial project lists at 104.8 GW, it said--enough to power the whole of the United Kingdom. Earlier this month, a U.N. climate panel said global warming is dangerously close to spiraling out of control and urged immediate, rapid and large-scale action to reduce emissions. China, the world’s biggest energy consumer and source of climate-warming greenhouse gas, has said it aims to bring carbon emissions to a peak by 2030 and to net zero by 2060.
However, it will not start cutting coal consumption until 2026. Up to then, the central government has pledged to “control” the number of new coal projects going into operation."

Surely Communist China isn't just taking advantage of old Joe are they?

** Reuters ([link removed])
(8/24/21) reports: "China National Petroleum Co (CNPC) said on Wednesday it plans for new shale oil production from formations within the area of the existing Daqing oilfield that will help replenish that site's diminishing output. CNPC said it aims to produced 1 million tonnes of oil annually by 2025 from the Gulong shale oil formations at Daqing in northeast China's Heilongjiang province. CNPC has drilled several key exploration wells in the Gulong formation including the Guyeyouping 1, Yingye 1H and Guye 2HC, all of which have yielded high volumes of oil in test production. As China's biggest oilfield, Daqing has pumped for the past 60 years but its reserves are quickly depleting and CNPC is turning to shale formations near the field to replace the output. CNPC has stepped up research and drilling in the Songliao basin where Daqing is located for unconventional oil resources that require technologies such as horizontal drilling and hydraulic fracturing."

Innovation > Regulation

** Reason ([link removed])
(8/25/21) reports: "Useful and infinitely malleable, plastics are ubiquitous in modern life. They are also a mixed blessing. Plastic detritus litters landscapes and befouls the oceans, and Americans are estimated to ingest about nine ounces of microplastics a year. The U.S. annually generates about 280 pounds of plastics per capita. Despite all the earnest sorting by householders, only about 9 percent of plastics is actually recycled, while 16 percent is incinerated. The remaining 75 percent is landfilled, accounting for 12.2 percent of municipal solid waste. But there is reason for optimism that we can have unproblematic plastics...Most current plastics also become increasingly brittle as they get recycled, which is why it's much cheaper to manufacture virgin plastics out of fossil fuels. Fortunately, several research groups and companies are developing and deploying more recycling-friendly plastics...Another team of researchers at the University of Delaware's Center for Plastics
Innovation has developed a novel catalyst and a unique, low-temperature process to quickly break down hard-to-recycle single-use plastics, including polypropylene, polystyrene, and everyday polyethylene bottles and bags. Instead of burying or directly burning these plastics, the new technique turns them into higher-value lubricants and diesel, jet, and gasoline fuels."

Energy Markets


WTI Crude Oil: ↑ $67.78
Natural Gas: ↑ $3.91
Gasoline: ↓ $3.14

Diesel: ~ $3.27
Heating Oil: ↑ $208.54
Brent Crude Oil: ↑ 71.47
** US Rig Count ([link removed])
: ↓ 582



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