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MORNING ENERGY NEWS  | 08/27/2021
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Why do developing countries want to build coal plants since -- as the Green Left keeps telling us -- wind and solar are so much cheaper?


Wall Street Journal (8/26/21) reports: "U.S. special climate envoy John Kerry plans another trip to China next week, where he will press Chinese leaders to declare a moratorium on financing international coal-fired projects, according to people familiar with the matter. Beijing hasn’t funded any new foreign coal plants or investments this year—the first time that has happened since China embarked on its infrastructure Belt and Road Initiative in 2013, according to a recent study by the Beijing-based International Institute of Green Finance. U.S. officials now want Beijing to declare a formal halt to such projects, according to one of the people...The lack of an official commitment also worries some climate activists.  'By not officially committing to a moratorium, China is giving itself wiggle room to promote dirty fossil fuel in the future when the developing world starts recovering from the pandemic,' says Li Shuo, Beijing-based policy adviser at Greenpeace.'"

"Our industry has experienced many transitions in the past decade, including the shale revolution, rapid technological growth, and market downturns. If we’re to succeed over the coming decade in providing Americans and our allies affordable and environmentally responsible energy, this next year will be pivotal." 

 

– Kim Rodell,
Western Energy Alliance

Germans like going green... so long as it’s totally free.


Clean Energy Wire (8/26/21) reports: "Germans doubt that climate protection and economic growth can be achieved together, and while almost everyone is in favour of climate protection, only one in two is actually willing to pay for it, according to a survey commissioned by the Joint Committee of German Trade and Industry. Conducted by Allensbach Institute for Demoscopy, the survey of around 1000 respondents found that while Germans are largely satisfied with the country’s social market economy, almost the same amount of respondents (55%) said climate protection should not cost consumers anything. Most Germans see afforestation of natural lands as the best measure to promote climate protection, followed by research, home renovations, renewable energy expansion, bicycle paths and the phase-out of coal. At the tail end of favoured climate protection measures were higher prices for air travel and driving, and a ban on oil heaters. 'The population is pro climate protection, but only to a limited extent if it leads to additional costs,' said Allensbach project manager Steffen de Sombre."

The problem with Biden's climate hypocrisy is that the only oil production the White House is encouraging is outside the U.S. 


Wall Street Journal (8/26/21) column: "Two days after the release on Aug. 9 of the United Nations’ biggest scientific report on climate change in nearly a decade, the Biden administration issued a statement on the 'Need for Reliable and Stable Global Energy Markets.' Like many presidents before him, Mr. Biden urged the oil cartel, OPEC, to increase production in hopes of lowering the price of gasoline at the pump. The awkward juxtaposition of these events offers a good window into why climate action has proved to be so difficult, even as the risks associated with continuing climate change have become clearer. While the Biden administration attempts with one hand to wrangle China and India to commit to deeper emissions cuts and to raise the ambition of federal climate policy, it tries with the other to keep energy prices from rising. Such concerns about energy prices are well-founded. Oil prices have long been a key bellwether for inflation, and inflationary pressures are increasing. Big jumps in oil prices have been a key factor in past recessions. More broadly, energy costs for transportation, electricity and heating make up an outsize share of household expenditures, especially for working-class households."

On top of everything else, Biden's Green New Deal is going to be powered with lithium bought from the Taliban by Communist China and paid for by American Taxpayers.


Bloomberg (8/24/21) reports: "When the U.S. invaded Afghanistan in 2001, the global economy looked a lot different: Tesla Inc. wasn’t a company, the iPhone didn’t exist and artificial intelligence was best known as a Steven Spielberg film. Now all three are at the cutting edge of a modern economy driven by advancements in high-tech chips and large-capacity batteries that are made with a range of minerals, including rare earths. And Afghanistan is sitting on deposits estimated to be worth $1 trillion or more, including what may be the world’s largest lithium reserves -- if anyone can get them out of the ground...But there’s also an optimistic outlook, now being pushed by Beijing, that goes like this: The Taliban form an 'inclusive' government with warlords of competing ethnic groups, allows a minimal level of basic human rights for women and minorities, and fights terrorist elements that want to strike the U.S., China, India or any other country...'With the U.S. withdrawal, Beijing can offer what Kabul needs most: political impartiality and economic investment,' Zhou Bo, who was a senior colonel in the People’s Liberation Army from 2003 to 2020, wrote in an op-ed in the New York Times over the weekend."

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: ↑ 68.49
Natural Gas: ↑ $72.08
Gasoline: ↑ $3.14
Diesel: ~ $3.27
Heating Oil: ↑ $209.27
Brent Crude Oil: ↑ $72.08
US Rig Count: ↑ 587

 
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