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MORNING ENERGY NEWS | 11.12.2019
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** A truly green energy policy would support oil production in California.
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Fresno Bee ([link removed]) (11/8/19) op-ed: "On any given day, Americans who call the Golden State home use dozens of petroleum byproducts. These products are much more than just the gas in our cars. They are also the footballs our children play with, roads we drive on, tires that move our cars, plastic in electric cars, medical equipment we rely on, shampoo, soap, toothbrushes, ballpoint pens, shoes and much more. Unfortunately, the industry that provides all these products is under attack by Gov. Newsom, his administration, and the green movement. The governor recently signed a set of bills in an effort to move California away from fossil fuels. A world without oil and oil byproducts is completely unrealistic, and it’s time Newsom and other lawmakers understand and accept the truth about California’s oil and gas industry."
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** "It is magical thinking to believe that shale production could be replaced quickly by wind and solar – at any price, and regardless of climate change motivations. To put this in perspective: since 2007, American fracking technology has added 500 percent more energy to markets than have all of the planet’s wind and solar farms combined."
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– M ([link removed]) ark Mills, Manhattan Institute ([link removed])
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There are no words...
** Time ([link removed])
(11/5/19) reports: "Now, it appears, we can add asthma control to the list pharmaceutical blowbacks we didn’t see coming. According to a new study published in BMJ Open, the familiar lightweight, pocket-sized aerosolized inhalers that make breathing easier for so many of the 235 million people worldwide who suffer from asthma may be choking the planet on a powerful greenhouse gas they release in the process."
Commerce City pushes off burdensome new oil and gas regulations.
** Western Wire ([link removed])
(11/6/19) reports: "Local government leaders in a suburb just north of Denver delayed indefinitely a new set of oil and natural gas regulations to ensure best practices are used for both energy development and health and safety. The City Council and Mayor of Commerce City voted unanimously on Monday night to pause their process just a week after the draft regulations we’re released. Without the vote, the regulations could have taken effect as soon as November 18 – less than a month after the draft was made available to the public. A key point of contention within the draft regulations is Commerce City’s proposed extension the state setback of 500 feet out to 1,000 feet for residential structures, high-occupancy buildings, parks, and outdoor venues."
The natural gas industry isn't done innovating.
** Financial Times ([link removed])
(11/11/19) reports: "When shale drilling flipped the US from a country short of natural gas to being the world’s largest producer, coastal terminals built at a cost of billions of dollars to receive imports were suddenly white elephants. When Egypt managed to boost its domestic gas production, reducing its reliance on imported cargoes of the supercooled fuel, the transition was easier: the main infrastructure simply left. That is because Egypt was using floating storage and regasification units, or FSRUs. The FSRU is a type of tanker fitted with equipment to gently warm liquefied natural gas (LNG) back into a gaseous state so it can be piped to customers on land. The first FSRU was launched in 2005. Today the fleet consists of 35 vessels, according to IHS Markit. More than 100 import projects that will use FSRUs are in the works, says the consultancy. The FSRU is cheaper and faster to install than an onshore regasification plant. If a country’s situation changes the owner can unmoor an
FSRU and motor to a more favourable destination or use it in the interim as an LNG carrier."
Energy Markets
WTI Crude Oil: ↑ $56.95
Natural Gas: ↑ $2.67
Gasoline: ↓ $2.61
Diesel: ↓ $3.01
Heating Oil: ↓ $190.78
Brent Crude Oil: ↑ $62.32
** US Rig Count ([link removed])
: ↑ 829
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