Your Morning Energy News

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MORNING ENERGY NEWS | 10/11/2021
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** Chickens coming home to roost. I'd want to get out of Europe too...
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Wall Street Journal ([link removed]) (10/10/21) reports: "Amid a border surge, pandemic and inflation, here’s one problem that isn’t (yet) weighing on the U.S. political system: an energy crisis. In Europe energy prices have risen by a factor of five in the last year, and Vladimir Putin is exploiting the situation for Russia’s gain. It’s a reminder that America’s energy production is a source of strategic strength that it risks trading away for climate dreams. Europe’s energy system, which has sought to banish domestic fossil fuels, has left the Continent vulnerable to the global surge in oil and gas prices. The Financial Timesreports that 'the strength of the wind blowing across northern Europe has fallen by as much as 15 per cent' in 2021... The predicament of America’s European friends is especially striking against the backdrop of the Biden Administration’s
energy policy at home. It has canceled the Keystone XL pipeline in the U.S. and is using the regulatory state to suppress American drilling, even as National Security Adviser Jake Sullivan pleaded with the OPEC oil cartel and Russia in August to ramp up production...Energy supply is a key asset in the global balance of power. Russia and China know this, and the Biden Administration’s obsession with unrealistic climate goals at the expense of energy security will do real harm to the U.S. economy and global interests."

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** "Natural gas is not clean energy."
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–Senator Ed Markey (D-MA) ([link removed])

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A backup generator that plugs into an electric outlet. A sort of perpetual motion machine.

** Yahoo News ([link removed])
(10/10/21) reports: "California took another step toward its goal of ridding the state of all gas-powered engines thanks to a new bill signed by Gov. Gavin Newsom on Saturday. The new law will ban the sale of all off-road, gas-powered engines, including generators, lawn equipment, pressure washers, chainsaws, weed trimmers, and even golf carts. Under the new law, these machines must be zero-emissions, meaning they will have to be either battery-powered or plug-in, according to the Los Angeles Times...The new law is expected to affect nearly 50,000 small businesses. California's budget includes $30 million to help professional landscapers and gardeners quit using gas-powered equipment, but even then, the budget is still not capable of bearing the full financial burden. The National Association of Landscape Professionals also noted how zero-emission commercial equipment is both more expensive and less efficient than gas-powered equipment. A gas-powered riding lawn mower costs between
$7,000-$11,000 while the zero-emissions version costs more than twice that amount, according to the outlet."

Stop Biden's American energy embargo!

** Epoch Times ([link removed])
(10/8/21) reports: "The energy crisis that has led to shortages and blackouts in Europe and Asia could hit the United States this winter, the chief executive of an energy firm says. 'We’ve actually had discussions with power utilities who are concerned that they simply will have to implement blackouts this winter,' said Ernie Thrasher, the head of Xcoal Energy & Resources, according to Bloomberg News. 'They don’t see where the fuel is coming from to meet demand.' He also stated that utilities are switching to coal from natural gas during the fall and winter months to keep up with the demand. The global demand for power has increased as economies attempt to recover from the COVID-19 pandemic, triggering natural gas shortages primarily in Europe and Asia. Power producers, including Duke Energy, have warned customers that bills may spike this winter. Duke’s Piedmont Natural Gas unit stated on Oct. 5 that higher gas prices and low production will raise customer bills by approximately $11 per
month in North and South Carolina."

Democrats only like treaties that aren’t ratified.

** Wall Street Journal ([link removed])
(10/10/21) column: "The Democratic Party’s hostility to oil and gas pipelines is now becoming an international problem, as Canada seeks a Biden Administration intervention over Michigan Gov. Gretchen Whitmer’s attempt to shut down Enbridge Energy’s Line 5. Ottawa last week formally invoked the dispute-resolution article of a 1977 treaty governing transit pipelines between the two nations. The treaty states that, except in an emergency, natural disaster or pressing safety concern, 'no public authority in the territory of either' the U.S. or Canada may take measures 'which are intended to, or which would have the effect of, impeding, diverting, redirecting or interfering with in any way the transmission of hydrocarbon in transit.' Yet Ms. Whitmer is acting like she’s her own sovereign nation. She moved last year to revoke and terminate an easement that allows Line 5 to operate in a 4.5-mile stretch in the Straits of Mackinac and ordered Enbridge to shut down and 'permanently decommission' the
pipeline within 180 days. Enbridge has defied Ms. Whitmer and continued operations, saying her unilateral actions lack legal authority. The Governor is seeking an injunction to close the pipeline."

Energy Markets


WTI Crude Oil: ↑ $81.47
Natural Gas: ↓ $5.39
Gasoline: ↑ $3.27

Diesel: ↑ $3.46
Heating Oil: ↑ $252.16
Brent Crude Oil: ↑ $84.23
** US Rig Count ([link removed])
: ↓ 636



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