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MORNING ENERGY NEWS  |  12/16/2019
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There seems to be no end to Mike's ridiculousness.


Washington Examiner (12/13/19) reports: "Democratic presidential candidate Michael Bloomberg wants to close all of the nation’s coal plants by 2030 and have 80% of America’s electricity be carbon-free even sooner. Bloomberg released a '100% clean power plan' Friday to replace the nation’s remaining 251 coal plants with clean electricity and stop the construction of new gas plants to achieve 80% clean electricity by 2028. The electricity target is the first component of Bloomberg’s pledge to fully decarbonize the economy by 2050 at the latest — a goal matched by nearly the entire Democratic primary field. Bloomberg, a late entrant to the presidential race, wants to get halfway to that goal by 2030, cutting greenhouse gas emissions 50% by then. 'We’ve proven that you can transition to clean energy and strengthen the economy at the same time,' said Bloomberg, the former New York City mayor and climate change philanthropist. 'As president, I'll accelerate our transition to a 100% clean energy economy.'"

"Then there’s the psychology of herding, whereby CEOs are fearful of being hung out to dry if they don’t sign the latest statement pledging their company to save the world from climate breakdown. All this might remind readers of two groups in Ayn Rand’s Atlas Shrugged: the Moochers, comprising, in this example, the craven CEOs and their in-house CSR crowd; and the Looters, the environmental NGOs. Their ultimate victim is capitalism, the only economic system ever to have produced durable, transformative economic growth."

 

– Rupert Darwall,
RealClear Foundation

We're #1!  And the American left can't stand that.  


E&E News (12/16/19) reports: "Natural Resources Committee Democrats plan to roll out a climate bill that includes a temporary ban on new fossil fuel leases on public lands and waters, an increasingly popular idea on the left and in the presidential field. The legislation, expected to be unveiled at a news conference this week, would slap a moratorium on new fossil fuel leases on public lands for 'one to two years,' Chairman Raúl Grijalva (D-Ariz.) said last week. After that, the bill would aim to zero out contributions to climate change from public lands and waters by 2040. 'We tried to thread the needle between something that's aspirational and goal oriented but has some practical application that could be implemented,' Grijalva told E&E News. Banning new fossil fuel development on public lands is an idea with roots in the 'keep it in the ground' movement that's gained traction in recent months in the mainstream Democratic Party."

A wealth of riches.


Wall Street Journal (12/15/19) reports: "America’s hottest oil-drilling regions—such as this one at the heart of the Permian Basin—are seeing their economies soften as shale producers slash spending, leading to emptier hotels, choosier employers and less overtime for workers. Early this year, demand for the tubing, bolts and valves used in fracking was so high that Homer Daniels’s oil-field equipment company, RK Supply, in the Midland area was on track to easily beat its annual revenue forecast. But by August, Mr. Daniels had to impose a hiring freeze as customers delayed projects. Fracking has made the U.S. the world’s top oil producer, buoyed the national economy and helped the country become a net exporter of crude and petroleum products for the first time in decades...'Investors are playing a large role here, and that’s the biggest driver of this cycle,' said Chris Wright, chief executive of Denver-based Liberty Oilfield Services Inc., which specializes in hydraulic fracturing. Companies such as Liberty that provide services or parts to shale producers have been among the hardest-hit by the pullback."

Another round-about way to say they want fewer mouths to feed. And by the way, did anybody in the media bother to fact check the whole "scientist" claim?


CNN (12/1/19) reports: "The world needs to reach 'peak meat' within the next 10 years to combat the effects of climate change, scientists have warned. In a letter to The Lancet Planetary Health Journal, they said all but the poorest countries needed to set a time frame for livestock production to stop growing, since the meat and dairy sector is responsible for such a large proportion of emissions. The scientists called on governments to identify the largest emissions sources or land-occupiers in the livestock sector and set reduction targets to help fight the risk of global temperatures rising by more than the 'safe' limit of 1.5-2 degrees Celsius above pre-industrial levels...Stuart Roberts, vice president of the National Farmers' Union of England and Wales, told CNN in a statement: 'To say that cutting livestock numbers everywhere is the most efficient way of reducing emissions massively overgeneralises a situation that differs significantly across the world, and can hinder the countries that are practicing sustainable farming methods and have an ambition to do more.'" 

Energy Markets

 
WTI Crude Oil: ↑↓ $68.16
Natural Gas: ↑↓ $2.73
Gasoline: ↑↓ $2.86
Diesel: ↑↓ $3.16
Heating Oil: ↑↓ $207.08
Brent Crude Oil: ↑↓ $72.00
US Rig Count: ↑↓ 1137

 
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