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MORNING ENERGY NEWS  |  11.18.2019
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The casualties of King Cuomo’s carbon crusade...


Wall Street Journal (11/17/19) editorial: "New York Gov. Andrew Cuomo is a proud opponent of fossil fuels. But now that the consequences of his policies are harming people in the real world—those who can’t afford to escape to Florida—the Governor is blaming others. Mr. Cuomo has blocked shale fracking upstate and several pipelines delivering natural gas from Pennsylvania in the name of protecting waterways. But this is an excuse. Natural-gas production in Pennsylvania has increased 60% since Mr. Cuomo banned fracking five years ago, adding $6 billion to Keystone State GDP and its waterways are fine. Mr. Cuomo’s real purpose is to eliminate natural gas as part of his political commitment to 'carbon neutrality' by 2050, and this isn’t a cost-free promise. Upstate New Yorkers struggle economically and pay among the highest energy costs in the U.S. A quarter still rely on heating oil, which costs about $1,000 a year more than natural gas and emits nearly 40% more CO2. New Yorkers pay about 40% more for electricity than Pennsylvanians and 15% more than in New Jersey."

"The state is finally making the smart move away from internal combustion engine sedans. Carmakers that have chosen to be on the wrong side of history will be on the losing end of California’s buying power."

 

– California Governor Gavin Newsom

Who's carving the grouse this year?


Washington Post (11/18/19) reports: "More than a third of a million acres of land scheduled to be leased in Nevada and Colorado have been taken off the auctioning block -- at least for now -- because [the greater sage grouse] is squatting over those oil deposits...A federal court threw a wrench into the Trump administration's latest plans. With a rule issued earlier this year, it sought to change the 2015 policy put in place under President Obama to protect the ground-nesting bird, known for its eccentric courtship dances, throughout the 11 Western states it resides. But last month, a federal court in Boise, Idaho issued a preliminary injunction: U.S District Judge Lynn Winmill said federal scientists need to do more analysis about how the bird may be further imperiled. That means that for now, the Obama administration plan is in effect in Idaho, Wyoming, Colorado, Utah, Nevada, California and Oregon — seven of the 11 states with ever-scarcer sage grouse populations.  Now we’re seeing the results of that ruling: The Bureau of Land Management's Nevada office halted December's scheduled sale of 332,000 acres after seeing that more than half encroach too much into sage grouse habitat."

Inconvenienced by the current trade war?  You ain't seen nothin' yet.


Watts Up With That (11/17/19) blog: "According to Foreign Policy, next time the 'opportunity opens up', the USA and European Union should unite to impose carbon taxes on the entire world. Carbon leakage is the green policy inspired loss of jobs and businesses to countries with lower energy costs. If you have never heard of 'carbon leakage', this allegedly not a problem receives a lot of attention in Europe, so it is likely a very serious problem indeed. The European Union’s proposed response to carbon leakage is to try to erect massive tariff barriers, to eliminate the competitive disadvantage created by their costly green energy policies. But the last time the EU and USA attempted joint action on carbon taxes, the Senate failed to pass the Clean Energy and Security Act which would have given President Obama the power the impose carbon tariffs on Chinese imports. When Europe subsequently tried to go it alone, President Obama moved to block them – the prospect of unilateral European carbon taxes targeting the USA was too much even for President Obama. Now European leaders dream of a future US president who is at least as radical on climate issues as President Obama was, so they can use the combined economic might of the USA and Europe to level the playing field, by imposing their climate ideology on the entire world."

I betcha they don't mention this at the dealership.


Climate Change Dispatch (11/15/19) reports: "It was just over a month ago that we reported on a Tesla accident in Austria that resulted in firefighters needing to use a special container to transport the remains of the vehicle and the battery at the scene of the accident. Now, the owner of the vehicle is having trouble finding someone who will properly recycle his wrecked car and its battery. It’s been sitting in one place since the accident and Tyrol reports that 'nobody wants to burn their fingers to dispose of the car with its unpredictable 600kg lithium-ion battery.' The owner, Dominik Freymuth, says he feels 'abandoned by the manufacturer.' Every morning he passes by the wreckage of his old vehicle, a stark reminder of being pulled out of his burning vehicle before it was charred to the ground, he says."

Energy Markets

 
WTI Crude Oil: ↓ $57.19
Natural Gas: ↓ $2.60
Gasoline: ↓ $2.60
Diesel: ↓ $3.01
Heating Oil: ↓ $192.63
Brent Crude Oil: ↓ $62.58
US Rig Count: ↑ 832

 
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