Your Morning Energy News
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MORNING ENERGY NEWS | 09/16/2021
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** Hey Sen. Sinema and Sen. Manchin, the House Dem's reconciliation package promises to make us more like Europe--with a European-like electric grid. Are you cool with that?
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Market Watch ([link removed]) (9/15/21) reports: "Europe’s energy crisis deepened on Wednesday, with natural gas futures in Europe and the U.K. soaring by double digits, while a fire at a electricity converter station that connected France to England. October Title Transfer Facility (TTF) natural gas futures in the Netherlands— the European benchmark — jumped to 72.195 euros per megawatt hour (MWh) on Wednesday, a new record and a nearly 10% gain on the day, while U.K. natural gas futures surged around 10% to 181.42 pence a therm, also a new high. European benchmark natural gas prices have soared 287% year to date, driven by a shortage of supplies from Russia, which is using more of its own natural gas; a lack of U.S. supply due to hurricanes disrupting refineries; a heat wave in the U.K. and elsewhere that has disrupted wind power;
and hurricanes knocking out supplies from the U.S. Gulf of Mexico. As some pointed out, the crude equivalent for Dutch natural gas prices is now exceeding the highs seen for Brent oil during 2008. Shortages of natural gas across Europe have triggered sharp gains in power prices for consumers across the continent and the U.K., as well as forcing up coal and carbon emissions prices."
** "Carbon emissions are embedded into nearly everything in our economy. If Democrats believe that the Centers for Disease Control and Prevention should be empowered to declare an eviction moratorium and unilaterally discard property rights, you can imagine what sort of things await this nation if they can declare climate change an 'emergency.'"
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– David Harsanyi, New York Post ([link removed])
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Rich countries to pressure poor nation to limit POC's access to energy. Is that what is going on here?
** Bloomberg ([link removed])
(9/15/21) reports: "Four of the world’s richest nations will send a delegation to South Africa as soon as next week to seek a deal to begin closing the country’s coal-fired plants, according to people familiar with the matter. Officials from the U.S., U.K., France and Germany are looking for an agreement with Eskom Holdings SOC Ltd., which generates almost all of South Africa’s power from a fleet of 15 coal plants. Any deal struck could be announced during the United Nations climate talks known as COP26, set to start in Glasgow, Scotland, on Oct. 31, one of the people said...Alok Sharma, the COP26 president, has said he wants to use the summit to 'consign coal to history.' But he’s met resistance from a number of middle-income countries that rely on coal. A Group of 20 meeting in July failed to reach an agreement on phasing out coal. South Africa’s use of coal has made it the world’s 12th biggest emitter of greenhouses gases, ahead of the U.K. which has an economy eight times its size.
Eskom alone accounts for more than 40% of South Africa’s emissions."
Snap back to reality.
** ([link removed])
Will they have "Stay back 50 feet" signs so other drivers also know not to park next to a Bolt?
** Orange County Register ([link removed])
(9/15/21) reports: "General Motors Co. urged some owners of Chevrolet Bolt electric cars to park and store the vehicles at least 50 feet away from other cars to reduce the risk that a spontaneous fire could spread. The Detroit automaker has recalled all of the roughly 142,000 Bolts sold since 2016 because the battery can catch on fire. GM has taken a $1.8 billion charge so far for the cost of the recall and has been buying cars back from some disgruntled owners. The company expects to recoup much of the cost from battery supplier LG Corp. The new advice is likely to rankle owners who are already limiting their use of the Bolt to avoid overheating the battery and risking a fire. The parking guidance — recommending a distance of 50 feet from other parked cars — is especially difficult for owners in urban areas. GM has confirmed 10 fires."
Energy Markets
WTI Crude Oil: ↓ $72.34
Natural Gas: ↓ $5.46
Gasoline: ↑ $3.19
Diesel: ~ $3.29
Heating Oil: ↓ $219.63
Brent Crude Oil: ↓ $75.24
** US Rig Count ([link removed])
: ↑ 622
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