Your Morning Energy News
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MORNING ENERGY NEWS | 10/28/2021
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** Apparently Exxon kept their suppressed climate science hidden in their vault right next to the 200 mpg super-carburetor.
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Fox Business ([link removed]) (10/28/21) reports: "Gasoline prices at the pump are at the highest level since 2014, while the price for heating homes is projected to increase by double digits this winter. But House Democrats are focusing on what oil executives said decades ago about global warming. On Thursday, CEOs of ExxonMobil, BP, Chevron and Shell will be on Capitol Hill to face a grilling about whether they deceived the public on climate perils, as the House Oversight and Reform Subcommittee on the Environment holds a hearing titled, 'Fueling the Climate Crisis: Exposing Big Oil’s Disinformation Campaign to Prevent Climate Action.' A committee press release calls this an 'industry-wide campaign to spread disinformation about the role of fossil fuels in causing global warming.'...But, at a time when the Biden administration is asking the Organization of Petroleum Exporting Countries for
assistance, Democrats seem to want to distract from the high energy costs of their making with political theater, said Tom Pyle, the president of the Institute for Energy Research. 'When the number one oil producer in the world is seeing pulled federal leases, gutted pipelines and going to OPEC, that sends a message to the marketplace,' Pyle told FOX Business. 'The Democrats' answer is to haul the oil CEOs before Congress, call them ''big oil'' and wag their fingers.'"
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"Expect another religiously presented “gloom and doom” climate event with false promises hailed as historic achievements by an elite who offer only fear and deprivation for working people."
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– Vijay Jayaraj, CO2 Coalition ([link removed])
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Looks like the "Build Back Better" crowd isn't sure their "great reset" is as popular with voters as they claim.
** The Telegraph ([link removed])
(10/27/21) reports: "Forty two per cent of adults said they supported a vote on the plan, whilst 30 per cent opposed it, and 28 per cent did not declare a preference, according to a YouGov survey conducted this month. When the 'don’t knows' were excluded from the results, a majority of 58 per cent wanted a ballot on the issue. The survey showed that of those who expressed a preference, more than 50 per cent of each category polled supported a referendum on net zero. This included 18- to 24-year-olds, middle class voters, Londoners, Remainers, both men and women, and Liberal Democrat backers. The findings will come as a blow to Boris Johnson just days before the start of the Cop26 climate change summit in Glasgow on Sunday. While he is preparing to convince global leaders to take tougher action, the survey suggests more work is needed at home to convince voters that reducing carbon emissions to net zero by 2050 is necessary. Earlier this month, the Prime Minister unveiled his eco blueprint
for achieving the target, which involves banning new gas boilers from 2035, installing electric car charging points across the country, and building new nuclear power plants. Ministers have so far refused to put a precise cost on the plan, but analysts estimate that it could total more than £1 trillion over the next three decades. The Treasury last week warned that additional public investment in decarbonisation may need to be funded from tax rises or spending redirected from other government priorities. The polling was commissioned by Car26.org, a new campaign group calling for a referendum on net zero proposals and a pause in eco regulations until such a ballot is held."
Think globally, act locally.
** MSN ([link removed])
(10/28/21) reports: "After a marathon meeting that lasted more than 10 hours, the Shasta County Supervisors voted to deny the appeal for the Fountain Wind Project. The vote came just after 11 p.m. Tuesday. The supervisors voted 4 to 1 to deny the appeal by the project organizer, ConnectGen. That meeting had started at 1 p.m. Tuesday. ConnectGen was appealing to the board of supervisors after the county planning commission previously rejected the project this summer. The scaled-back version of the project includes 48 wind turbines west of Burney. In voting to deny the use request, supervisors said they were concerned the turbines could make it more difficult to fight any wildfires from the air. They also said that the windmills are an 'eyesore.'"
Hey Larry, if you truly care about the poor and not just about getting richer, you would encourage companies to invest more in oil, gas, and coal to lower energy prices.
** Bloomberg ([link removed])
(10/26/21) reports: "Blackstone Inc. co-founder Stephen Schwarzman said the world could face energy scarcities so severe they trigger social unrest. 'We’re going to end up with a real shortage of energy,' he said at a conference in Saudi Arabia. 'And when you have a shortage it’s just going to cost more and it’s probably going to cost a lot more. And when that happens you’re going to get very unhappy people around the world, in the emerging markets in particular.' His comments were echoed by Larry Fink, who said there’s a high probability of oil soon reaching $100 a barrel, especially with many governments and investors pushing back against investments in fossil fuels. 'Inflation, we are in a new regime,' said Fink, chairman of BlackRock Inc, the world’s biggest asset manager. 'There are many structural reasons for that. Short term policy related to environmentalism, in terms of restricting supply of hydrocarbons, has created energy inflation and we are going to be living with that for some
time.'"
Energy Markets
WTI Crude Oil: ↑ $81.62
Natural Gas: ↑ $5.94
Gasoline: ↑ $3.39
Diesel: ↑ $3.62
Heating Oil: ↓ $247.80
Brent Crude Oil: ↓ $83.59
** US Rig Count ([link removed])
: ↑ 642
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