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MORNING ENERGY NEWS | 10/18/2021
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** In episodes #53 of The Unregulated Podcast, Tom & Mike ask the tough questions. Listen here:
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** The show is available on all your favorite platforms including Sound Cloud ([link removed]) , Apple Podcasts ([link removed]) , Spotify ([link removed]) , Stitcher ([link removed]) , Podbay ([link removed]) , Blubrry ([link removed]) , and TuneIn ([link removed]) .
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** "People take note of what the Pentagon prioritizes. Other countries (friends and adversaries) put in a great deal of time divining U.S. intentions. When the first plan a new Pentagon sends out deals with climate adaptation, it sends a message, and in this case, it is not one of resolve and seriousness."
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– Thomas Spoehr, The Heritage Foundation ([link removed])
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As much as we enjoy pointing out the seemingly limitless hypocrisy of Special Envoy Kerry, we agree with Senator Rubio on this one.
** Washington Free Beacon ([link removed])
(10/15/21) reports: "Sen. Marco Rubio (R., Fla.) called on the Biden administration to fire climate envoy John Kerry over his China investments on Friday, saying the financial activities raise 'serious questions as to whether Kerry can negotiate in good faith with Beijing on climate change.' Rubio's comments came in response to a Washington Free Beacon report on Thursday that Kerry and his wife disclosed a stake worth at least $1 million in a Chinese investment group that is a top shareholder of a Chinese tech company blacklisted by the United States for human rights violations. The company, YITU Technology, helped develop facial recognition surveillance software that allows the Chinese government to sort individuals by race and ethnicity and specifically target the Uyghurs, according to the New York Times. In 2019, the U.S. Department of Commerce sanctioned the company for human rights violations. 'Now it makes sense why he is actively working against my Uyghur Forced Labor Act, which
would make it impossible for products made with slave labor in Xinjiang, China, to be imported into the United States,' said Rubio in a Fox News column on Friday. 'Kerry has been working against my legislation, and has convinced President Joe Biden to stay silent on the bill.' 'President Biden now has a choice: stand by the man profiting from slave labor or fire him.'"
Biden finds out he can't bite the hand that fuels America.
** Wall Street Journal ([link removed])
(10/15/21) column "Falling poll numbers concentrate the presidential mind, and the result can be startling. Look no further than this nominee for headline of the year from Politico this week: 'Biden team asks oil industry for help to tame gas prices.' Stranger things have happened, but we can’t recall one. For nine months President Biden has been pursuing policies to squeeze oil-and-gas producers to limit production and eventually go out of business. Having begged OPEC in vain to boost oil production, Mr. Biden is now having to suffer the humiliation of beseeching an American industry he vilifies as destroying the planet to save the day. This is the politics of falling job approval. Crude oil prices have doubled since the November election, and this week closed above $80 a barrel. This has flowed into gasoline prices paid by voters, with the national average for a gallon up more than $1. A federal agency is warning that Americans who use natural gas for heat could pay 22% to 50% more this
winter."
However bad you might think Biden's electricity price hike mandates are, they're much, much worse.
** Washington Times ([link removed])
(10/16/21) column: "Switching from affordable, reliable energy to expensive, intermittent energy does not make the economy stronger. Raising taxes does not make the economy stronger. In a bizarre twist, Democrats want us to believe their Clean Electricity Performance Program (CEPP) is a policy double negative: Raising taxes and forcing consumers to use more costly and less reliable power sources will somehow create millions of new green jobs...Jobs worth having, economic output, and growth go up when inputs are combined in a way that creates output whose value exceeds that of the inputs. One thousand dollars of labor and other inputs for $1,100 of output is good. Twelve hundred dollars of labor and other inputs for $1,100 of output is bad...CEPP would spend $150 billion. The job-creation fiction is yet another misdirection needed to cover up the special-interest redistribution. There is nothing new here; we’ve seen it before. Those billions will come from everyday taxpayers and
consumers and, abracadabra, go to those with the best connections in the backrooms of Washington."
It’s called climate equity.
** ([link removed])
Energy Markets
WTI Crude Oil: ↑ $83.51
Natural Gas: ↑ $5.22
Gasoline: ↑ $3.32
Diesel: ↑ $3.54
Heating Oil: ↑ $258.42
Brent Crude Oil: ↑ $85.66
** US Rig Count ([link removed])
: ↑ 648
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