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MORNING ENERGY NEWS | 11.4.2019
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** You sold your soul to the devil when you put on your first pair of Jimmy Choos.
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New York Times ([link removed]) (11/3/19) column: "Climate protests drew millions around the world in September. Many of the Democratic presidential candidates have rolled out ambitious plans to cut carbon while making the economy greener. There’s a sense of momentum to solve our planetary crisis. And yet a leading cause of climate change remains persistently overlooked or trivialized: clothing. The clothing and footwear industry is responsible for 8 percent of global greenhouse gas emissions, nearly the same as the entire European Union, according to a study by the environmental services group Quantis. Without abrupt intervention, the industry’s impact on the climate is on track to increase by almost half by 2030...We need government action and innovative policy that accounts for the global impact of the stuff we buy. Other countries have already made progress: France has passed a bill banning the destruction of unsold
clothing and requiring large companies to ensure environmental and human rights in their supply chains. And the British Parliament’s Environmental Audit Committee has spent the last two years looking into how to make the fashion industry more sustainable. We need a champion of the fashion movement in Washington: Perhaps Nancy Pelosi, whose six-year-old Max Mara coat went viral last year, is our movement’s leader in waiting."


** "For a household living at the poverty level, the financial savings that come from natural gas can be life-changing. So why would political candidates known for championing the economically disadvantaged oppose American energy development?"
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– ([link removed]) C ([link removed]) had Warmington, Petroleum Alliance of Oklahoma ([link removed])

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Of all the things to protest in California, reliable sources of energy seem pretty low on the list.

** The Hill ([link removed])
(11/1/19) reports: "Teenage environmental activist Greta Thunberg will join a Los Angeles school strike on Friday to protest drilling. The Los Angeles Times reported that Thunberg, 16, will join almost a dozen California teenagers and college students who want state and local authorities to work to end fossil fuel production. They are reportedly demanding a suspension of new oil drilling and a 2,500 foot distance between drilling locations and homes... 'We’re not going to stop striking until they start listening to us,' organizer Chandini Brennan Agarwal, 16, told the Times. 'Even though our focus this time is oil wells in California, we’re still trying to send a message about the climate crisis to politicians worldwide.'"

Divesting from reality.

** Washington Examiner ([link removed])
(11/1/19) column: "Recently, about 40,000 environmental activists recently descended on Lower Manhattan for what they deemed a global climate strike. Many of the protesters marched with a specific goal in mind: to convince Comptroller Thomas DiNapoli to purge $13 billion in fossil fuel investments from New York State's $210 billion pension fund. These protesters aren't alone. All across the country, environmentalists are urging public pension managers to sell their fossil fuel assets. If pension managers were to embrace divestment, the thinking goes, oil and gas companies' share prices would plummet. Firms would struggle to raise capital in the future. Thus, they'd shelve expansion plans and keep more fossil fuels in the ground. But the strategy is short-sighted. Divestment would punish the retirees attached to these funds, without having any significant effect on the energy industry."

For people who love spending other people's hard-earned money, you'd think they would be more concerned with this.

** Reuters ([link removed])
(11/1/19) reports: " In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way to thousands of oil rigs. The Democrats who control the state’s government have lofty plans for the billions of dollars in projected tax revenues from the drilling industry in the Permian Basin, the world’s biggest oil field, starting with an overhaul of New Mexico’s ailing public education system. The biggest threat to those plans, however, may be the presidential candidates from their own party. The top 10 Democratic contenders have called for ending new drilling leases on federal lands. Two front-runners, Senators Elizabeth Warren and Bernie Sanders, go much further with calls to ban hydraulic fracturing - the technology driving the Permian oil boom - on both federal and private land...Nationwide, states received some $9 billion from public lands leases last year, with much of it going
to their education systems, according to Department of Interior data. New Mexico was the top recipient with $2.4 billion - an amount that doubled its 2017 revenues. Colorado brought in about $500 million."

Energy Markets


WTI Crude Oil: ↑ $56.89
Natural Gas: ↑ $2.82
Gasoline: ~ $2.60

Diesel: ~ $3.00
Heating Oil: ↑ $196.07
Brent Crude Oil: ↑ $62.54
** US Rig Count ([link removed])
: ↑ 844



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