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MORNING ENERGY NEWS | 12/17/2019
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** Holding the line!
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Bloomberg ([link removed]) (12/16/19) reports: "The expansion of a tax credit for electric vehicles isn’t likely to appear in a broad deal being negotiated by House and Senate leaders, and backers of the popular tax break say President Donald Trump is to blame. 'There has been extreme resistance from the president,' said Senator Debbie Stabenow, a Michigan Democrat who has championed the $7,500 tax credit for consumers who purchase an electric car. She said Monday it was unlikely to be expanded...White House officials warned lawmakers that if they tried to expand the electric vehicle credit as part of a compromise spending bill, it could tank the measure, according to two people familiar with the matter. The issue is particularly heated in the West Wing and among conservatives who view the credit as mainly benefiting rich Californians and Tesla...'President Trump is fighting to protect
middle-class taxpayers by opposing this welfare program for the wealthy,' said Tom Pyle, president of the American Energy Alliance, a free-market advocacy group. 'The Senate Republican leadership would be wise to follow his lead.'"
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** Two out of three ain't bad.
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E ([link removed]) &E News ([link removed]) (12/17/19) reports: "Overnight tax negotiations have yielded an agreement to extend a number of expired energy tax credits through the end of the next year after talks over a broader clean energy package collapsed. The extenders package, which will hitch a ride on one of the two minibus spending bills to be voted on this week, would revive and extend expired incentives for efficiency, alternative vehicles and biofuels through 2020, with the credits made retroactive to cover 2018 and 2019. The biodiesel tax credit — a top priority of Senate Finance Chairman Chuck Grassley (R-Iowa) — would be extended through 2022 under the deal, which was sealed following a late night meeting between Hill negotiators and Treasury Secretary Steven Mnuchin. The renewable production tax credit, currently scheduled
to phase out at the end of 2019, will be extended for one year under the agreement. But the deal is silent on other top Democratic priorities in the year-end talks, including expansions of the electric vehicle credit and an extension of the investment tax credit for solar."

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** “Regardless of how the company communicated its accounting practices to the public, Exxon’s multidecade climate deception has helped push humanity toward a desperate moment filled with suffering, death and grief. No court decision can change that reality."
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– Lee Wasserman, Rockefeller Family Fund ([link removed])

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Someone needs to talk these kids down before they embarrass themselves...

** Washington Times ([link removed])
(12/15/19) editorial: "Everyone loves children. They’re the best part of a better world to come. Unfortunately, kids are clueless about both the world as it is and the means to improve it. That’s why they’re sent to school to learn rather than teach. However, climate-change activists have managed to short-circuit the educational process and fashion millions of 'green' greenhorns raring to fight for a decarbonized global economy. Sensible adults should step forward and gently disabuse misguided minors of the notion that the world is about to go up in smoke. It’s not...The 20th century saw two generations of westerners come of age in the midst of existential threats to civilization from malevolent powers. Millions of patriotic youth volunteered to fight and, if necessary, die to save the world. Many shed their blood to uphold their military oath and they did, in fact, save the world from heartless aggressors. The generation born in the 21st century has been reared in relative safety, but
weaned on ubiquitous tales of an impending global warming doomsday. With free access to the social media cyberworld, young Americans have undoubtedly heard the likes of Rep. Alexandria Ocasio-Cortez making the breathless claim that 'We’re like the world is going to end in 12 years if we don’t address climate change.'"

Might be too late for this one.

** T ([link removed])
** he Daily Wire ([link removed])
(12/15/19) reports: "Far-left climate extremist Greta Thunberg tweeted a photograph of herself riding on a train over the weekend that showed her sitting on the floor while complaining about the train supposedly being 'overcrowded' which earned a sharp response from the train. 'Traveling on overcrowded trains through Germany,' Thunberg tweeted. 'And I’m finally on my way home!' The Guardian reported that in a two-part tweet, Deutsche Bahn (DB) responded to Thunberg’s tweet, writing, 'Dear Greta, thank you for supporting us railroaders in the fight against climate change! We were happy that you travelled with us on Saturday in the ICE 74 … but it would have been even nicer had you also reported how friendly and competently you were looked after by our team at your seat in the first class.'"

Actually, it's German Politicians who want people to pay more. And they will reap the whirlwind.

** E ([link removed])
** &E News ([link removed])
(12/17/19) reports: "Germans say they're ready pay a higher national levy on carbon pollution after utilities and policy makers joined climate activists in rebelling against proposed below-market rates deemed insufficient to fight climate change. Lawmakers from Germany's 16 states reached preliminary agreement over the weekend to more than double a new tax on carbon dioxide emissions from transport and heating, according to a document seen by Bloomberg News. Consumers in Europe's biggest economy will now face a €25 ($27.85) a ton surcharge rather than the €10 a ton initially proposed. The pollution premium will rise to €55 by 2025, a jump of almost three-fifths from the original proposal. Policy makers joined the BDEW utilities lobby and World Wildlife Fund in demanding the cost of polluting be set closer to market prices, where carbon permits under the European Union's emissions-trading system currently trade at about €24 a ton. Chancellor Angela Merkel's government had initially shied
away from introducing the higher fee because of the risk of a political backlash from consumers facing higher gas and heating costs. Two of Germany's most powerful lobbies — the BDI industry group and the BDEW utilities federation — said yesterday they were against the plan to raise emissions costs. The move would 'drastically damage the competitiveness of the economy,' BDI said in a statement."

Energy Markets


WTI Crude Oil: ↑ $60.46
Natural Gas: ↓ $2.31
Gasoline: ~ $2.55

Diesel: ~ $2.99
Heating Oil: ↑ $201.62
Brent Crude Oil: ↑ $65.58
** US Rig Count ([link removed])
: ~ 840



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