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MORNING ENERGY NEWS | 11/21/2019
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** And purple state Dems are running scared.
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Carlsbad Current-Argus ([link removed]) (11/19/19) reports: "Democrat front-runners for the party’s presidential nomination promised to ban oil and gas leasing on federal lands if elected. Both Elizabeth Warren, a U.S. senator from Massachusetts, and Bernie Sanders, a U.S. senator from Vermont, made similar campaign promises to cease oil and gas production on federal lands in hopes of transitioning the country to renewable forms of energy such as wind or solar power...In New Mexico, oil and gas is the largest contributor to the state’s economy whether on federal land managed by the Bureau of Land Management or State Trust land. The industry was credited for a $2 billion surplus in the State’s general fund last year, with much of that revenue earmarked for educational initiatives such as teacher raises. U.S. Rep. Xochitl Torres Small said she opposed a full ban on oil and gas
activities...'I know that if we were to shut down oil and gas drilling in New Mexico today, we’d have to shut down our schools tomorrow, statewide'...Nora Sackett, a spokesperson for the Governor, said Lujan Grisham planned to call on a potentially Democrat White House to adopt a more 'flexible' approach to fossil fuel development...Sackett refuted a report from Reuters that alleged the Lujan Grisham said she would request a waiver to exempt New Mexico from any such ban, calling the reporting 'exaggerated' and 'a stretch.'”


**

"We are now sharing our energy bounty with the world…and by doing so…we are changing the world."
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– Secretary Rick Perry, Department of Energy ([link removed])

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Freedom molecules aren't just a talking point.

** Military Times ([link removed])
(11/19/19) column: "Recently, the Danish Energy Agency has agreed to install the Nord Stream 2 gas pipeline on the Danish continental shelf of the Baltic Sea. The last obstacle removed, and Russia plans to complete the project soon. Despite all efforts made by the U.S. and a number of European countries, next year Russia can receive an unprecedented instrument of pressure on Europe, which can be used not only to intensify a hybrid war, but also to open the way to a full-scale European military conflict that can affect not only Ukraine, but also those countries in Eastern Europe that are NATO members. In fact, the completion of the Nord Stream 2 is the biggest security challenge in Europe since the 1960s and puts the world at risk of a new global conflict...Economic coercion is an inherent part of modern hybrid warfare, and the Russian Federation reached unsurpassed skill in its application. Gazprom, the largest gas supplier in Europe, controlled by the Russian government, is the flagship
among the economic means used by the Russian Federation to achieve its geopolitical goals, including election interference and regime changes in Eastern and Central European countries. Since 1991, Russia has had nearly 60 major gas conflicts with other nations. Only 11 of them had no explicit political component. In 40 cases, Russia has imposed a suspension of gas supplies to other countries."

A live look at King Cuomo 'fixing' New York's self-induced energy crisis.

** A ([link removed])
** xios ([link removed])
(11/20/19) reports: "New York Gov. Andrew Cuomo and a major utility are locked in a standoff over natural gas that’s been years in the making and has national implications. Why it matters: The battle, which is leaving thousands of New Yorkers without access to the fuel, is the starkest repercussion yet of fights brewing for years across the country over oil and gas pipelines and their role in fueling climate change...Cuomo is blaming National Grid for not employing contingency plans ensuring energy service even without the pipeline, while Cuomo's detractors are blaming him for blocking the pipeline. Flashback: Cuomo has fought natural gas production and transportation in New York for years. He banned fracking, a controversial technique to extract oil and gas, within the state in 2014. That’s led to New York importing much of its gas from neighboring Pennsylvania, as the below chart shows. Under Cuomo’s leadership, state government agencies have either stalled or rejected a total of seven
natural-gas infrastructure projects in recent years, according to the nonpartisan firm Washington Analysis."

Of course he'll be right about being wrong.

** Bloomberg ([link removed])
(11/13/19) reports: "During a heated deposition this past June, Elon Musk finally seemed to admit that his harshest critics were right. Since forcing through the controversial 2016 purchase of SolarCity Corp., the struggling solar sales-and-installation business he co-founded with his cousins, Tesla Inc.’s chief executive officer has faced almost-constant criticism: The move was called a catastrophe for Tesla, a $2 billion-plus bailout of a debt-saddled company of which Musk himself was chairman and the largest shareholder. Despite plummeting sales and substantial layoffs in the solar division under Tesla after the merger, Musk has fervently defended the SolarCity acquisition, once calling it 'blindingly obvious' and a 'no-brainer.' But in a stunningly rare moment of contrition, Musk expressed regret over the decision at his deposition, part of a class-action shareholder suit that’s gained momentum in recent months. 'At the time I thought it made strategic sense for Tesla and SolarCity to
combine. Hindsight is 20-20,' Musk said. 'If I could wind back the clock, you know, I would say [I] probably would have let SolarCity execute by itself.'...The shareholder lawsuit is set for trial before Delaware Court of Chancery Vice Chancellor Joseph Slights III in March 2020, according to Tesla’s securities filings...Musk sounded eager to make this case at trial. 'I can’t wait,' he said. 'It will be great. You’re going to lose.'”

Everybody hates PURPA.

** Utility Dive ([link removed])
(11/19/19) column: "As a result of innovation, state policies, competitive pricing and federal tax credits, states are leading the remarkable clean energy transition in the United States. Responding to state energy policies and the demands of their customers, electric utilities are doubling and tripling down on their efforts to provide customers with resilient, reliable and clean energy, while doing so at affordable prices. However, these successes are being undermined by an outdated 40-year-old federal law that is impeding expansion of clean energy in many states...However, today PURPA is being misused to undermine the development of a competitive renewable energy marketplace. PURPA contains a number of outdated concepts that are contrary and indeed impeding the effort to de-carbonize the electric utility sector. Unlike 40 years ago, QFs are not replacing fossil fuels, they are blocking the growth of renewable energy projects necessary to replace fossil fuels...Given the lack of action by
Congress, it is appropriate that FERC has taken the first step to address the inequities for ratepayers and independent power producers by proposing amendments to its PURPA rules. FERC’s proposal enables states to adopt market-based pricing mechanisms that reward renewable developers that can compete on price in today’s rapidly evolving energy environment."

Energy Markets


WTI Crude Oil: ↑ $57.05
Natural Gas: ↑ $2.57
Gasoline: ↑ $2.59

Diesel: ↑ $3.00
Heating Oil: ↑ $189.83
Brent Crude Oil: ↑ $62.41
** US Rig Count ([link removed])
: ↑ 837



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