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DAILY ENERGY NEWS | 10/20/2022

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Of all places, you'd think legislators in New England would understand the importance of affordable, reliable energy during winter, but you'd be mistaken.

New Hampshire Journal (10/19/22) reports: "Granite Staters are paying more at the pump, paying double the price for electricity, and are now getting slammed with heating oil costs heading into winter. And according to the American Energy Alliance (AEA), the state’s top Democrats have done nothing to help. New Hampshire’s federal delegation, Democratic Reps. Annie Kuster and Chris Pappas, and Sens. Maggie Hassan and Jeanne Shaheen, all scored a 'zero' on the 2o21-2022 AEA report card on energy policy. 'All the proof of their rejection of affordable energy policies will show up in the energy bills for people in New Hampshire this winter,' said AEA President Thomas Pyle. 'New Hampshire is not California and yet the entire delegation votes for California-style energy policies.' The energy debate isn’t an abstract one in New England, where ISO New England Inc., has warned that an extremely cold winter could potentially result in rolling blackouts due to lack of supply. 'If we get a sustained cold period in New England this winter, we’ll be in a very similar position as California was this summer,' said Nathan Hanson with LS Power Development, which operates two gas-fired power plants in the region.The AEA looks at what lawmakers have done to 'promote affordable, abundant, and reliable energy,' as well as the steps they have taken to 'expand economic opportunity and prosperity, particularly for working families and those on fixed incomes.'".

"Washington liberals have weaponized the economy to attack our energy producers and force their woke ESG agenda on hardworking Americans... At the state and federal levels, we must push back against these radical policies, protect Americans' retirement savings, and empower our energy industry."

– Rep. Carol Miller (R-WV)

Markets work.

DailyWire (10/17/22) reports: "BlackRock was downgraded by UBS analyst Brennan Hawken last week over the asset management company’s adherence to the environmental, social, and governance movement, also known as ESG. As several conservative state officials continue to pull hundreds of millions from BlackRock and other asset managers, Hawken slashed the target stock price from $700 to $585, according to a report from Barron’s. Shares for BlackRock fell 1% last Tuesday on the news. 'We are downgrading BLK to Neutral based on environmental pressure to earnings and risk from the firm’s ESG positioning,' Hawken remarked, citing the potential for further lost business and increased regulatory scrutiny. Most recently, South Carolina State Treasurer Curtis Lofits said that he would pull the state’s remaining $200 million in BlackRock because of the company’s 'leftist worldview,' through which executives 'undermine” their fiduciary responsibilities. BlackRock, which manages $8.5 trillion in client assets, has taken 'voting action on climate issues' against dozens of its portfolio companies, according to an investment stewardship report. Louisiana also announced intentions earlier this month to divest from BlackRock until a total of $794 million is removed from the company. Weeks earlier, the state of Texas revealed that BlackRock and nine other firms had violated state law by 'refusing to deal with' or 'terminating business activities with' companies involved in the production and use of fossil fuels 'without an ordinary business purpose.'"

Greens don't want to get rid of fossil fuels, they want to get rid of modern life. Fossil Fuels just happen to be in the way.

Californians spent 16 years being scolded and hyper-taxed to "save the planet." And in 1 year Newsom wiped it all out because he wouldn't rake the forest.

Yahoo News (10/18/22) reports: "The wildfires that have scorched the West in recent years are not just a consequence of climate change, they also are an increasingly sizable driver of the problem, according to a new study. The research paper, published Monday in the journal Environmental Pollution, finds that California’s wildfires in 2020 caused twice the amount of greenhouse gas emissions that the state successfully cut between 2003 and 2019. In other words, 2020’s wildfire season, which set a record for the number of acres burned in the state, essentially wiped out 16 years of progress California had made on climate change through efforts such as replacing fossil fuels with clean energy. Since wood is full of stored carbon dioxide — the most prevalent greenhouse gas — it is emitted when the wood burns. As average temperatures have grown warmer, California and other Western states have experienced more heat waves and droughts, which are risk factors for wildfires. Currently, a 22-year megadrought is parching the West, forcing water authorities in parts of California to institute water usage limits for residents. The state is also experiencing intensified heat waves. Consequently, wildfires have become more prevalent. Eighteen of the 20 largest wildfires in California’s history have occurred since 2000. The eight largest have all been since 2017, five of them in 2020 alone. The biggest fire in state history, the August Complex Fire in 2020, burned more than 1 million acres of land.
"

Energy Markets

WTI Crude Oil: ↑ $88.16
Natural Gas: ↓ $5.33
Gasoline: ↓ $3.83

Diesel: ↑ $5.33
Heating Oil: ↑ $392.11
Brent Crude Oil: ↑ $94.39
US Rig Count: ↑ 873

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