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DAILY ENERGY NEWS | 09/27/2022
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** Listen to real Alaskans for a change.
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Wall Street Journal ([link removed]) (9/27/22) op-ed: "The long-delayed Willow oilfield project, which is located within the National Petroleum Reserve-Alaska (NPR-A), is vital for Alaska’s economy, for America’s energy security, and for further modernizing the North Slope region. Some of our residents still live in homes that aren’t connected to running water and basic sewage systems. We have no roads connecting our communities because the federal government won’t allow us to build them. According to Bureau of Land Management estimates, Willow could generate between $8 billion and $17 billion in new revenue for the federal government, the state of Alaska and communities such as Utqiaġvik. Willow is located on the ancestral lands of the Iñupiat people but isn’t an Iñupiat project. That’s because the
federal government claimed the National Petroleum Reserve for itself before the Alaska’s native people had an opportunity to settle our land claims. Eben Hopson, the first mayor of Utqiaġvik and founder of the Inuit Circumpolar Council, worked with other Iñupiat leaders to create the North Slope Borough in 1972. As a home-rule municipality, the borough gives our people the ability to tax oil and gas infrastructure and benefit from resource development on our ancestral lands. More than 95% of the North Slope Borough’s tax revenue and a third of Alaska’s private-sector jobs come from the oil-and-gas industry. The fossil-fuel extraction industry has for 50 years enabled us to provide basic services to the eight Iñupiat villages on the North Slope. This money supports essential services in all our villages, including health clinics, schools, Alaska’s only tribal college, water and sewer infrastructure, fire and search-and-rescue services, and our own department of wildlife management. The
borough is a unique example of Native Americans using the municipal-government model to support themselves. We are able to do this because we have a tax base. We have a tax base because of the fossil-fuel industry."
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** "Fossil fuels are currently indispensable for manufacturing fertilizers and pesticides that are critical to producing adequate food supplies at reasonable prices."
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– Gregory Wrightstone, CO2 Coalition ([link removed])
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China is laughing at the West.
** Reuters ([link removed])
(9/22/22) reports: "Europe and other developed countries must take 'positive action' to implement climate change goals as geopolitical uncertainties threaten to undermine their efforts, China's top climate envoy told his German counterpart. Xie Zhenhua, who leads China's climate negotiations, told Germany's special climate envoy Jennifer Morgan via video link late on Wednesday that global climate governance was currently facing 'multiple challenges and uncertainties.' 'The climate policies of some European countries have shown a 'backswing', and it is hoped that this is just a temporary stopgap,' he said, according to a summary of the meeting released by China's environment ministry. As western countries raise coal consumption in order to offset gas supply disruptions brought about by the conflict in Ukraine, China's foreign ministry said in a statement this month that its own green and low-carbon development path remained firm - 'in contrast with the European Union.' Europe has insisted
the rise in coal use is only a temporary measure that will have no long-term impact on the EU target to cut emissions by 55% from 1990 to 2030. China, the world's biggest carbon emitter, is expected to focus on the issue of financing at this year's global climate talks, known as COP27, which will take place in Sharm El-Sheikh in Egypt in November."
Chart of the Week. Courtesy of our friends at EPRINC.
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The Science™ crowd is not happy with Mr. Malpass. Where were they when Justice Jackson was getting confirmed?
** Wall Street Journal ([link removed])
(9/27/22) column "World Bank President David Malpass committed a horrible environmental crime last Tuesday. When asked about his views on climate change, he said, 'I’m not a scientist.' The saga began earlier when Al Gore called Mr. Malpass a “climate denier” and urged President Biden to fire him. It isn’t clear why Mr. Gore was so incensed by Mr. Malpass. Whatever his personal beliefs, the World Bank under Mr. Malpass’s leadership has given a record $31.7 billion in fiscal 2022 to 'climate-related' initiatives. When a reporter prodded Mr. Malpass about the comment hours later, he said it was 'very odd' and declined to discuss his climate views with his words about not being a scientist. This seeming nonevent developed into front-page news at the New York Times. Calls for Mr. Malpass’s resignation began, including from the White House, despite Mr. Malpass subsequently clarifying that he does believe greenhouse gases cause warming. One wonders where this outrage was when Supreme Court
nominee Ketanji Brown Jackson declined to define the word “woman” in her confirmation hearings, pleading, 'I’m not a biologist.' Mr. Malpass has refused to resign, and why should he? He spoke the truth. He isn’t a scientist. He’s an economist, hence his appointment to the World Bank by President Trump. What he said about greenhouse gases is also true, and probably the one thing all sides can agree on in the climate debate. It’s also the end of what science clearly says about global warming. Anything else you hear is guesswork, if not fear-mongering."
Energy Markets
WTI Crude Oil: ↑ $79.13
Natural Gas: ↓ $6.83
Gasoline: ↑ $3.74
Diesel: ↑ $4.89
Heating Oil: ↑ $326.50
Brent Crude Oil: ↑ $86.87
** US Rig Count ([link removed])
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