Your Morning Energy News
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MORNING ENERGY NEWS | 08/31/2021
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** Even American environmentalists know China's "climate" policies are utterly toothless, but they continue to push Joe into forcing America to unilaterally go net-zero and implode our economy.
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National Review ([link removed]) (8/30/21) column: "As planned, China’s new emissions-trading scheme (ETS) is doing nothing to reduce its emissions. Launched in July, the ETS encompasses 2,200 companies that operate coal- and natural-gas-fired power plants — facilities responsible for 40 percent of China’s total greenhouse-gas emissions. It builds upon pilot programs in seven delimited regions — including Beijing, Shanghai, and Chongqing — that began in 2013...However much the scheme may have been hailed, this emperor wears no clothes. Even if we account for an intensity-based system’s low expectations, China’s ETS will encounter another set of hurdles around compliance and enforcement...If the trading of limitless permits is indeed the last piece of the puzzle for China’s emissions plan, what incentive could there possibly be elsewhere — such as in the United States — to tighten self-imposed firm emissions caps or to im
pose punishing carbon taxes? China’s emissions-trading scheme shows no indication it will curb the country’s growing appetite for coal, oil, or natural gas — but it was never meant to. Thanks in part to the environmental agitprop of American activists, China’s ETS will serve its purpose: shielding China from criticism as it increases its emissions with each successive year."
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** "Economic prosperity allows countries to invest in new technologies and policies that improve not only environmental health but also the well-being of the people. Thus, if we want to continue to improve our relationship with the environment and human progress, we should be more supportive of economic growth and the entrepreneurship that drives it."
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– Ryan M. Yonk, AIER (http:// [link removed])
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"Air conditioning makes life better, so let's make it more expensive!" - Your brain on leftism.
** Vox ([link removed])
(8/26/21) article: "What if the most American symbol of unsustainable consumption isn’t the automobile, but the air conditioner? In cool indoor spaces, it’s easy to forget that billions of people around the world don’t have cooling — and that air conditioning is worsening the warming that it’s supposed to protect us from. There are alternatives: We can build public cooling spaces and smarter cities, with fixes like white paint and more greenery. Some experts have hailed heat pump technology as a more efficient option. But as the planet warms and more of its inhabitants have spare income, AC sales are increasing. Ten air conditioners will be sold every second for the next 30 years, according to a United Nations estimate. Access to air conditioning can literally mean life or death for the young, elderly, and those with medical conditions such as compromised immune systems...With the pandemic, we see all these questions again almost exactly 100 years later. It’s like we haven’t really solved
this. What’s healthy? How much ventilation is healthy? Should public spaces like schools be cooled all the time?"
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The greens' two favorite things, windmills and trains, collide in Texas.
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Texas, Pennsylvania, Wyoming, Oklahoma West Virginia, and North Dakota, we salute you!
** EIA ([link removed])
(8/31/21) reports: "Maecenas nec odio et ante tincidunt tempus. Donec vitae saIn 2019, the top six primary energy-producing states—Texas, Pennsylvania, Wyoming, Oklahoma, West Virginia, and North Dakota—accounted for 55 quadrillion British thermal units (quads), or 55% of all of the primary energy produced in the United States. In 2000, these six states had accounted for 39% of the nation’s primary energy production, indicating that primary energy production has become more concentrated to the top producing states. Primary energy production in the United States grew 40% from 2009 to 2019, driven largely by increased crude oil and natural gas production in Texas, Pennsylvania, Oklahoma, and North Dakota. During that period, advances in hydraulic fracturing and horizontal drilling made drilling for previously inaccessible crude oil and natural gas more economical in the United States. Between 2009 and 2019, production of primary energy more than doubled in Texas and Oklahoma, more than
tripled in Pennsylvania, and more than quadrupled in North Dakota."
Energy Markets
WTI Crude Oil: ↓ $68.70
Natural Gas: ↓ $4.30
Gasoline: ↓ $3.15
Diesel: ~ $3.27
Heating Oil: ↓ $212.00
Brent Crude Oil: ↓ $73.00
** US Rig Count ([link removed])
: ↓ 598
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