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MORNING ENERGY NEWS | 09/01/2021
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** Just a few more private flights to Asia and those countries will have to stop building out new coal capacities!
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Reuters ([link removed]) (9/1/21) reports: "India has urged utilities to import coal despite having the world's fourth-largest reserves, with several power plants on the verge of running out of fuel due to a surge in power demand. Coal-fired power accounts for more than 70% of India's electricity generation. Electricity generation makes up three-fourths of India's coal consumption. 'Thermal power plants, which may import coal for blending, may explore (ways) to enhance imports of coal to tide over the current crisis,' the federal power ministry said in an Aug. 30 notice seen by Reuters. Data from the Central Electricity Authority showed over half of the 135 coal-fired power plants had less than a week's supply of coal left, of which 50 plants had fewer than three days of coal left. Six plants had run out of coal."
** "Climate action shouldn’t mean strangling all fossil fuel projects but rather facilitating the flow of capital to the countries that need it most."
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– Yemi Osinbajo, Vice President of Nigeria ([link removed])
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Dems are a broken record on this, their policies drive up the price of gas and then they try to blame companies. It was dishonest and wrong during the Obama Administration and it's dishonest and wrong now.
** Bloomberg ([link removed])
(8/30/21) reports: "The Federal Trade Commission is examining ways to crack down on mergers in the oil and gas industry and investigate whether gas station franchises are driving up gas prices as part of a Biden administration effort to combat higher costs at the pump. FTC Chair Lina Khan is directing staff to identify new legal theories to challenge retail fuel station deals and investigate possible collusion by national chains to push up prices, she said in an Aug. 25 letter to White House economic adviser Brian Deese obtained by Bloomberg News. 'I will be taking steps to deter unlawful mergers in the oil and gas industry,' Khan said. 'Over the last few decades, retail fuel station chains have repeatedly proposed illegal mergers, suggesting that the agency’s approach has not deterred firms from proposing anticompetitive transactions in the first place.' The FTC is planning to ratchet up investigations into abuses in the retail fuel station franchise market, she added."
Big month coming up for the Keystone State, but Pennsylvanians don't shy away from important fights.
** Daily Signal ([link removed])
(8/29/21) reports: "If an independent panel votes down proposed regulations to limit carbon dioxide emissions in Pennsylvania, state lawmakers will have added leverage to prevent Gov. Tom Wolf from joining a multistate initiative to address climate change. However, if the panel approves the regulations in a meeting Wednesday, Wolf’s executive agencies likely would gain latitude to move forward with plans to implement cap-and-trade rules in step with 11 other states in New England and the mid-Atlantic that are part of the Regional Greenhouse Gas Initiative. Either way, September is shaping up to be a critical month for the future of carbon taxes and other anti-carbon measures that have drawn bipartisan opposition in the Pennsylvania General Assembly. Since the commonwealth is No. 2 only to Texas in oil and gas production, according to government figures, the final decision on the cap-and-trade proposals will have significant ramifications across state lines."
Peoples' time is a non-renewable resource, but for some reason, that never counts...
** MSNBC ([link removed])
(8/30/21) column: "A recently released Pew Research Center survey found that 60 percent of Americans want to live in communities where 'houses are larger and farther apart, but schools, stores and restaurants are several miles away.' That’s an increase over the last two years and leaves only 39 percent who say they’d rather live 'closer to each other, but schools, stores and restaurants are within walking distance.' In a tweet about the study, the think tank framed the shift as a result of the Covid-19 pandemic. That may be the reasoning that the respondents had when answering. Looking at the chart, though, I only saw a major self-inflicted handicap to America actually halting climate change’s effects. Americans love their space. The desire for a wide, sweeping plot of land is baked into the country’s mythos...And as the forlorn traveling salesmen in Broadway’s 'The Music Man' lamented, cars made it so that people could travel much further to get what they needed, opposed to the local
grocer or general store. Together, these two factors — housing and car-ownership — shaped the way the U.S. functions. But with vehicle emissions making up nearly 30 percent of the greenhouse gases the U.S. produces each year, the way we function is killing the planet."
Energy Markets
WTI Crude Oil: ↓ $67.39
Natural Gas: ↑ $4.54
Gasoline: ↑ $3.17
Diesel: ↑ $3.28
Heating Oil: ↓ $210.04
Brent Crude Oil: ↓ $70.68
** US Rig Count ([link removed])
: ↓ 589
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