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MORNING ENERGY NEWS | 10.23.2019
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** Except when they don't.
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Wall Street Journal ([link removed]) (10/22/19) editorial: "Does the law count for anything when the target of a prosecution is politically unpopular? That’s the question to keep in mind this week as New York’s attorney general opens her climate-change show trial in state court against Exxon Mobil Corp. This saga began more than three years ago when 20 state AGs and Al Gore held a press conference to launch an investigation into unproven newspaper claims that Exxon had hidden from the public evidence of climate harm it knew to be true...Despite years of discovery and scouring millions of documents, the New York AG’s lawyers found no such evidence...We doubt Ms. James cares all that much if she wins in any case. If she loses at trial, she’ll appeal to higher state courts to keep the publicity alive. And even if she loses every appeal, she’ll have done her political duty as a progressive and harassed a corporate sinner. If this legal
attack doesn’t work, maybe another one will...Last we checked, drilling for oil and gas was still legal, and Exxon and other companies in the industry provide a livelihood, directly or indirectly, for millions of American families. But to the climate alarmists, they must be destroyed."


** And if they can't win in court they can count on the House to investigate another nothing burger.
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I ([link removed]) nside Sources ([link removed]) (10/21/19) column: "The cost of the Green New Deal may hit consumers too hard to make it through the U.S. Congress, even if Democrats sweep the 2020 elections. But get ready for federal litigation racking up legal bills for taxpayers. On Wednesday, a U.S. House Oversight subcommittee will host a hearing, “Examining the Oil Industry’s Efforts to Suppress the Truth about Climate Change.” A hearing like this featuring “Squad” members U.S. Reps. Ayana Pressley and Alexandra Ocasio-Cortez — fresh off the latter’s endorsement of Democratic Socialist Sen. Bernie Sanders — should make for quite a show....But this week’s hearing will also advance another strategy being pursued by green extremists, one already responsible for costly legal bills to taxpayers across the country.
Based on the hearing’s witnesses, it appears that if Democrats win the White House, they will push forward with partisan climate litigation targeting energy companies, prosecuted by the federal government and paid for by taxpayers."


** "Here's the bottom line: the left has latched on to climate change. The issue is a Trojan horse. They scream about the end of the world and use the scare for Socialists to take over the economy. The Exxon show trial is just a part of the whole sorry mess."
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– ([link removed]) S ([link removed]) tuart Varney, Fox Business ([link removed])

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The fact they are calling it the "October-Revolution" is rather telling.

** G ([link removed])
** rounded In Fact ([link removed])
(10/17/19) blog: "If you’ve ever wondered what life would be like if Extinction Rebellion and the other 'Keep It in the Ground' extremists got their way, check out what happened in Northern California last week when Pacific Gas and Electric cut power to more than 800,000 customers 'leaving more than two million people without lights, air conditioning, computers and refrigerators.' 'Classes were canceled. Frozen foods melted. Hospitals switched to emergency generators. Blooms withered in florists’ coolers. Unused food was jettisoned at shuttered restaurants. Lines formed at gas stations. Cellphones faded out,' according to the Los Angeles Times. And that was just the first day...Extinction Rebellion is currently shutting down traffic in dozens of major cities around the world as part of their weeks-long 'October Revolution' in a lawless bid to force governments to accede to their demands, including 'reducing greenhouse gas emission to net zero by 2025,' which even some XR activists admit is
literally impossible."

Of course! Seizing the means of production has a great track record of success.

** The Hill ([link removed])
(10/21/19) reports: "San Jose, Calif., the third-biggest city in California and the largest served by Pacific Gas & Electric (PG&E), will propose converting the private company into a customer-owned utility, according to The Wall Street Journal. The plan, proposed by Mayor Sam Liccardo (D), would turn the company into a nonprofit. Liccardo told the newspaper that public ownership would make the company more accountable to its own customers...PG&E told the newspaper the company was not for sale. 'We have not seen the proposal. However, PG&E’s facilities are not for sale, and to do so would not be consistent with our charter to operate or our mission to serve Northern and Central California communities,' the company said."

We just conducted our own investigation and concluded that Gavin Newsom is a dolt.

** Sacramento Bee ([link removed])
(10/21/19) reports: "Gov. Gavin Newsom called for an investigation into high fuel prices after the California Energy Commission released a report Monday detailing unexplained cost increases at name-brand gas stations. The report showed Californians pay as much as 30 cents more per gallon of gas than people in other states for unclear reasons...'The mystery surcharge adds up, especially for cost-conscious, working families,' Newsom wrote in a letter to Attorney General Xavier Becerra asking him to open an investigation. 'If oil companies are engaging in false advertising or price-fixing, then legal action should be taken to protect the public.' The report by the Energy Commission suggests that Californians could be buying the higher-priced gas at name-brand stations because those stations are more conveniently located, take credit cards, or are perceived to have a higher quality product...In a statement, Western States Petroleum Association President Catherine Reheis-Boyd said the oil
industry group is still reviewing the report. 'While we all review that work, it’s important to note that CEC’s own numbers show our state’s regulatory environment plays a big role in the ever-increasing affordability challenges Californians face,' she wrote."

Energy Markets


WTI Crude Oil: ↓ $53.96
Natural Gas: ↓ $2.27
Gasoline: ↓ $2.62

Diesel: ↓ $2.99
Heating Oil: ↓ $193.46
Brent Crude Oil: ↓ $59.25
** US Rig Count ([link removed])
: ↓ 859



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