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MORNING ENERGY NEWS  |  12/04/2019
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E&E News (12/4/19) reports: "Democrats returned from United Nations climate talks yesterday cautiously optimistic the United States can maintain its international presence, despite the lingering sting of the Trump administration's withdrawal from the Paris agreement. House Speaker Nancy Pelosi (D-Calif.) led a delegation of 15 Democrats to Madrid for the opening days of this year's conference, known as COP25, despite a busy congressional schedule rife with disputes over spending and talk of impeachment. The trip was symbolic. The delegation got to Madrid over the weekend and touched down back in Washington late yesterday afternoon. The U.N. gathering runs until Dec. 13, and talks won't begin in earnest until later in the week. But for supporters of the Paris Agreement, it was important symbolism and an example of how Pelosi and her caucus can flex their muscles on climate in a divided government."

"Climate change is an existential threat, and confronting it requires bold action...Political stunts won’t get us anywhere. Combatting this crisis first requires the Republican majority to stop denying science and finally admit that climate change is real and humans are the dominant cause."

 

– Kamala Harris,
Former Presidential Canidate

You hate to see it.


Houston Chronicle (12/3/19) reports: "A leading natural gas trade association came out in support of carbon taxes Tuesday, as pressure increases on the oil and gas industry to better work with government on addressing climate change. Representing companies including Exxon Mobil, Chevron, ConocoPhillips, Cabot and Southwestern Energy, Natural Gas Supply Association President Dena Wiggins said member companies were unanimous in their support for taxing carbon emissions and suggested more in the industry were likely to follow. 'It’s such a huge, important national conversation, every trade association has to be thinking about it,' she said. 'We’re likely not going to be the last.' The Natural Gas Supply Association said it is not yet lobbying for any one specific proposal, but broadly supports carbon taxes that also eliminate existing regulations on carbon and deliver revenues not to government but directly to American consumers."

A coming victory for humanity that should never have been a battle to begin with.


Quillette (12/1/19) reports: "Any day now, the government of Bangladesh may become the first country to approve the growing of a variety of yellow rice by farmers known as Golden Rice. If so, this would be a momentous victory in a long and exhausting battle fought by scientists and humanitarians to tackle a huge human health problem—a group that’s faced a great deal of opposition by misguided critics of genetically modified foods...Golden Rice, by contrast, was produced in the 1990s by carefully inserting just two naturally occurring genes known to be safe—from maize and from a common soil bacterium—into a rice plant, disturbing no other genes. It is quite literally golden: its yellow color indicates that it has beta carotene in it, the precursor of vitamin A. It was developed as a humanitarian, non-profit project in an attempt to prevent somewhere between 200,000 and 700,000 people, many of them children, dying prematurely every year in poor countries because of vitamin A deficiency. (Vitamin A deficiency causes children to go blind and lose immune function.) Yet the rice has been ferociously opposed by opponents of GM foods and, partly as a result, has been tied up in red tape for 20 years, preventing it from being grown. One study in 2008 calculated that in India alone 1.38 million person-years of healthy life had been lost for every year the crop has been delayed...The story of Golden Rice is deeply, deeply shocking. This is not a story of incompetence and ignorance, but of an antediluvian hostility to science and technology. In the end, though, the evidence in favor of Golden Rice proved absolutely overwhelming."

Reminder to be thankful for your internal combustion engine. 


The Drive (12/2/19) reports: "Black Friday shopping lines weren’t the only queues frustrating people this past weekend. A number of Tesla drivers took to social media to vent about extremely crowded Supercharger stations that turned a promised fast stop into an hours-long slog to recharge during one of the year's busiest travel times. With Model 3 mass production in full swing, there are now well over 400,000 Teslas on American roads, and it appears that growth is exposing the Supercharger network's pain points in high-traffic times like this past weekend. One Facebook clip shows a line measuring roughly a quarter mile in length, consisting of 50-odd Teslas waiting at a Supercharger in Kettleman City, California, just off Interstate 5...The video's caption—'When you regret your Tesla'—has got to ring true for some of these drivers." 

Energy Markets

 
WTI Crude Oil: ↑ $56.92
Natural Gas: ↓ $2.39
Gasoline: ~ $2.59
Diesel: ~ $3.00
Heating Oil: ↑ $190.93
Brent Crude Oil: ↑ $61.86
US Rig Count: ↑ 821

 
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