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MORNING ENERGY NEWS  | 09/02/2021
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Novel concept. Building a more advanced society by using affordable energy makes you 3X safer! 


The Hill (9/1/21) reports: "Climate change is leading to more weather-related disasters but is resulting in fewer deaths, according to a report released by the World Meteorological Organization (WMO) on Tuesday. According to the WMO's report, a weather-related disaster occurred every day on average between 1970 and 2019, killing 2 million people and costing $3.64 trillion. 'The number of disasters has increased by a factor of five over the 50-year period, driven by climate change, more extreme weather and improved reporting. But, thanks to improved early warnings and disaster management, the number of deaths decreased almost three-fold,' the WMO said in a press release."

"If they break housing [through natural gas bans], they break everything. I am shocked at our rights being eroded right before our very eyes." 

 

– Jennifer Thomas,
Spokane Home Builders Association

OPEC to Biden:  Do your own homework! 


Wall Street Journal (9/1/21) reports: "The Organization of the Petroleum Exporting Countries and a group of Russia-led producers said they agreed to continue increasing oil production in measured steps, resisting for now recent U.S. pressure to open the group’s spigots wider. In July, the OPEC-Russian alliance agreed to gradually bring back millions of barrels a day of production that they had bottled up at the start of the Covid-19 pandemic. At a virtual meeting Wednesday, the group chose to continue moving gradually with that plan, boosting output in monthly installments of 400,000 barrels a day through the latter end of 2022. The move came despite the White House saying last month the planned increases were insufficient, urging OPEC to boost oil production faster as countries around the world seek to emerge from the pandemic. The U.S. call came as the Biden administration faces criticism over rising inflation, including climbing gasoline prices."

China to Kerry:  Give us what we want or we won't give you the meaningless promise you need to look good on the world stage!    


Associated Press (9/2/21) reports: "Chinese Foreign Minister Wang Yi warned U.S. climate envoy John Kerry on Wednesday that deteriorating U.S.-China relations could undermine cooperation between the two on climate change. Wang told Kerry by video link that such cooperation cannot be separated from the broader relationship and called on the U.S. to take steps to improve ties, a Foreign Ministry statement said. Kerry, who is in the Chinese city of Tianjin for climate talks with his Chinese counterparts, said the U.S. is committed to cooperating with the rest of the world on climate and encouraged China to take additional steps to reduce emissions, the U.S. State Department said. Kerry, a former secretary of state, also said that China 'plays a super-critical role' in the effort to combat climate change, according to a brief video clip from the meeting shown on CGTN, the international arm of state broadcaster CCTV. China is the world’s largest emitter of greenhouse gases, followed by the United States."

The Guadian to everyones' surprise:  Energy affordability matters!


The Guadian (9/1/21) reports: "Household energy bills are to rise after prices on the UK’s wholesale electricity market soared to a record high last month, furthering concerns about more families being pushed into fuel poverty this winter. The electricity market price passed the £100 a megawatt-hour mark last month for the first time since the market was formed in 1990, according to an analysis by Imperial College London. The average market price reached £107.50/MWh, up 14% on July, and well above the previous record of £96/MWh recorded in the run-up to the 2008 global financial crisis. Dr Iain Staffell, a senior lecturer at Imperial, and the author of the report, said the electricity market surge would suggest another increase to home energy bills if these prices were sustained. Last month the industry regulator Ofgem announced it would lift the maximum cap on default energy deals for the coming winter by more than 12%, after a sharp rise in the market price for gas and electricity."

Energy Markets

 
WTI Crude Oil: ↑ $69.80
Natural Gas: ↑ $464
Gasoline: ↑ $3.18
Diesel: ~ $3.28
Heating Oil: ↑ $216.74
Brent Crude Oil: ↑ $72.72
US Rig Count: ↓ 593

 
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