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MORNING ENERGY NEWS  |  11.11.2019
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Today, and every day, we thank America's veterans for their service.


Washington Post (11/11/19) reports: "In 1962, an aging Gen. Douglas MacArthur delivered a final speech to the corps of cadets at the U.S. Military Academy at West Point. He was nearing the end of his of life, and he knew it. 'The soldier, above all other people, prays for peace,' he said, 'for he must suffer and bear the deepest wounds and scars of war.' For Veterans Day, here are some historical photos of Americans who served celebrating the end of war and coming home."


"Why do climate campaigners so often resort to scare-pollution rhetoric? One reason is that it diverts public attention from the abysmal disproportion between the alleged climatic benefits of their so-called solutions and the costs. A more fundamental reason, though, is that smearing all who oppose their agenda is what progressive politicians and activists do."

– Marlo Lewis, Competitive Enterprise Institute

New Jersey eyes 100% unreliable energy future...


NJ Spotlight (11/7/19) reports: "The bipartisan proposal (SCR-197) was introduced this summer, but its backers are hoping to put the question before voters statewide no later than 2021, timing that might be too late to block a handful of power plant projects pending in New Jersey...The proposal is expected to come up early next year at a time when the debate over how New Jersey transitions to a 100% clean energy future is likely to heat up as the Murphy administration adopts a new energy master plan and determines how to phase out fossil fuels contributing to global climate change."

...just in time for the mother of all cold fronts.


USA Today (11/8/19) reports: "This week's cold snap is only an appetizer compared with the main Arctic blast that's coming next week, meteorologists said. That freeze could be one for the record books. 'The National Weather Service is forecasting 170 potential daily record cold high temperatures Monday to Wednesday,' tweeted Weather Channel meteorologist Jonathan Erdman. 'A little taste of January in November.' The temperature nosedive will be a three-day process as a cold front charges across the central and eastern U.S. from Sunday into Tuesday. The front will plunge quickly through the northern Plains and upper Midwest Sunday, into the southern Plains and Ohio Valley Monday, then through most of the East Coast and Deep South by Tuesday, the Weather Channel said."

Tom Steyer is the Monty Brewster of modern politics.


Associated Press (11/7/19) reports: "A top aide to Democratic presidential candidate Tom Steyer in Iowa privately offered campaign contributions to local politicians in exchange for endorsing his White House bid, according to multiple people with direct knowledge of the conversations. The overtures from Pat Murphy, a former state House speaker who is serving as a top adviser on Steyer’s Iowa campaign, aren’t illegal — though payments for endorsements would violate campaign finance laws if not disclosed. There’s no evidence that any Iowans accepted the offer or received contributions from Steyer’s campaign as compensation for their backing."

Imagine an entire grid powered by unreliables.

Seriously, folks, it's time to repeal the Jones Act. 


Reason (11/7/19) reports: "A newly announced plan to tap into natural gas reserves in northern Alaska promises to produce 4 million tons of liquid natural gas (LNG) annually over the next 20 years. Yet not a single drop of that will go to Americans, thanks to a nonsensical federal shipping regulation. ExxonMobile and Qilak LNG, an Alaska-based subsidiary of a Dubai-based energy firm, announced plans last month to extract natural gas from the state's far northern reaches, along the coast of the Arctic Ocean. Because there are no pipelines serving that remote region, the two companies say they will export the gas via icebreaking ships equipped to carry LNG. Shipping LNG from northern Alaska across the Bering Strait to markets in Asia will be 40 percent less expensive than building a pipeline across the state. But thanks to the Jones Act, a 1920s federal law regulating American shipping, Alaskans (and Americans in general) won't get to use a single drop of the 80 million tons of LNG expected to be extracted. No icebreaking LNG-carrying vessels currently meet the Jones Act's stringent requirements to serve American ports. Under the terms of the law, ships carrying goods from one American port to another must be American-built and American-flagged, and must have a crew that's at least 75 percent American. It will be perfectly legal for non-American vessels to pick-up LNG from the new production facilities in northern Alaska, but not if they stop at any other American ports to offload even a portion of their cargo."

I shouldn't be up here. I should be back in school on the other side of the ocean.

Energy Markets

 
WTI Crude Oil: ↓ $56.73
Natural Gas: ↓ $2.65
Gasoline: ↓ $2.62
Diesel: ↓ $3.01
Heating Oil: ↓ $191.05
Brent Crude Oil: ↓ $62.09
US Rig Count: ↓ 825

 
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