Your Morning Energy News
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MORNING ENERGY NEWS | 10/07/2021
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** Easier to assume the global "elites" are lying, or that they are actually this clueless? You decide after listening to the latest episode of The Unregulated Podcast. Now streaming. ([link removed])
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** "In August, White House reminds OPEC of 'importance of competitive markets in setting prices'
In October, the very same White House says banning U.S. oil exports is 'a tool' that can be used "
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– Javier Blas, Bloomberg ([link removed])
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Certainly, we want to keep gas prices low but really we don’t care about the pain we need to inflict on the middle class...
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One can only conclude that the UK likes the current price of natural gas and likes being dependent on Russian gas.
** Reuters ([link removed])
(10/6/21) reports: "A British regulator rejected Royal Dutch Shell's plans to develop the Jackdaw gasfield in the North Sea after considering its environmental statement, industry sources said on Wednesday. 'We're disappointed by the decision and are considering the implications,' a Shell spokesperson said. It was unclear on what grounds the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) refused to approve the environmental statement for the field's development. The Department for Business, Energy and Industrial Strategy, under whose umbrella OPRED operates, did not immediately reply to a request for comment. The decision comes as Britain and other European countries were saddled with record natural gas and oil prices due to a supply crunch ahead of the cold winter months. It also comes days before Britain is due to hold the COP26 climate conference bringing decision makers from all over the world together to find a way to keep global warming below 1.5 degrees
Celsius compared with pre-industrial temperatures. "
Thomas Friedman—the New York Times’ version of a smart person.
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Energy Markets
WTI Crude Oil: ↓ $77.14
Natural Gas: ↓ $5.65
Gasoline: ↑ $3.24
Diesel: ↑ $3.41
Heating Oil: ↓ $242.83
Brent Crude Oil: ↓ $80.84
** US Rig Count ([link removed])
: ↓ 619
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