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MORNING ENERGY NEWS | 01/08/2020
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** That feeling when Trump cuts you off, but the communists come to your rescue with another handout.
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CNN ([link removed]) (1/7/20) reports: "Tesla started delivering its Shanghai-made Model 3 cars to the public in China on Tuesday, the first step in CEO Elon Musk's much bolder plan for the world's biggest market. Speaking at a ceremony to mark the first deliveries, Musk announced that Tesla will also make the Model Y, its lower-priced SUV, at its new Shanghai factory, and plans to open a design center in China with the aim of creating an 'original car' for sale in markets around the world. 'Ultimately the Model Y will have more demand than probably all of the other cars of Tesla combined,' he said. The company will increase its investments in China to make the Model Y, and other future models, he added. After Musk danced onto the stage at the ceremony in the Shanghai factory, 10 Chinese owners of Model 3 cars walked on, received car keys from the CEO, posted for photographs with him, and then took delivery of the cars on site."

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** "It’s all very, very similar. As I argue in the book [On Fire: The Burning Case for a Green New Deal], I don’t think it’s a coincidence that supremacists have come to power at the very moment when the climate crisis becomes pretty much impossible to deny."
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– ([link removed]) N ([link removed]) aomi Klein, Herald of Destruction ([link removed])

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Oh please, dear?

** Energy In Depth ([link removed])
(1/2/20) blog: "Climate activist and researcher Naomi Oreskes suggested in a recent interview that journalists shouldn’t speak to energy producers, and that energy companies’ speech should be regulated on social media, because she considers what they have to say to be propaganda. Thankfully, Oreskes isn’t in charge of making those decisions, but her influence with the press and activist community makes this proclamation all the more troubling. In her interview with the New Zealand Listener, Oreskes came out against journalistic balance and objectivity: 'The fossil-fuel industry exploited the journalistic ideals of fairness, objectivity and particularly the idea of balance to manipulate journalists into presenting what was essentially propaganda, what we would now call fake news, as the other side of a science story – not as a political story or an economic story but as the other side of a science story, when, in fact, it wasn’t a science story at all.' Of course, speaking to representatives
of the energy industry can provide readers with broader context and subject matter expertise, but Oreskes would prefer that point of view be left out of coverage. And she is ready to use the force of law to ensure agreement, telling the Listener that she supports regulation of social media to stop the spread of 'disinformation.'"

Producers in Pennsylvania and the Permain have persistently done more to lower emissions than anyone in Paris, period.

** W ([link removed])
** ashington Post ([link removed])
(1/7/20) reports: "U.S. greenhouse gas emissions fell 2.1 percent last year almost entirely because of a sharp drop in coal consumption, according to the Rhodium Group, a private data research firm. Coal-fired electric power generation, which had rebounded slightly in 2018, fell by a record 18 percent to the lowest level since 1975, the Rhodium study said. Coal burning produces carbon dioxide, which fuels climate change. But much of that reduction was offset by rising emissions from the use of inexpensive natural gas. And transportation emissions remained relatively flat while emissions from buildings, industry and other parts of the economy grew. The modest overall drop in emissions left the United States in danger of failing to meet its commitments under international agreements."

155,000 cubic meters is a start, but at this rate...

** Edie ([link removed])
(1/3/20) reports: "Multinational fuel giant Tristar has added a liquefied natural gas (LNG) tanker to its international shipping fleet for the first time, in the same week that Kawasaki Heavy Industries debuted the world's first ship capable of transporting large volumes of liquid hydrogen. Tristar’s vessel, called the Tristar Ruby, has a capacity of 155,000 cubic metres. It has been placed on a long-term charter with BP’s shipping arm, which transports LNG between 24 global locations at present and has a further six in the pipeline. BP’s latest energy forecast predicts that global energy demand will rise by one-third against current levels by 2040. The company believes LNG can meet around half of this increase in demand, with renewables accounting for the remainder, if GDP doubles globally within the next two decades. While still a fossil fuel, LNG is widely touted as a lower-carbon alternative to coal for power generation and a potential solution for the decarbonisation of transport and
heat – two of the most notoriously hard-to-abate sectors. In the transport space, LNG-powered HGVs have attracted sizeable investment in recent months from the likes of the world's largest brewer Anheuser-Busch InBev. Other corporates using LNG in their HGV fleets include Tesco, Asda, Arla Foods, DHL and UPS."

A new era of price stability thanks to America's energy producers.

** W ([link removed])
** all Street Journal ([link removed])
(1/7/20) column: "The consequences of President Trump’s targeted killing of Qasem Soleimani will play out over many months, but one notable and welcome response so far is the oil price that hasn’t spiked. The U.S. shale-oil revolution is delivering benefits far beyond faster economic growth. Brent crude prices are up about 5% since the demise of Iran’s terror master, hovering around $68.50 a barrel in Tuesday trading. The big story here is how little oil prices have moved by comparison to prior periods of Middle East tension. The first Gulf War caused oil prices to nearly double in a few months, surging to $40 a barrel in October 1990 from $15 in August. Prices remained high for more than a year, contributing to a U.S. recession in 1991. Prices also spiked after the 2003 invasion of Iraq, hitting their highest yearly average ($31 a barrel) in more than two decades. Until recently, any major geopolitical event—political turmoil in the Middle East, Nigerian militant attacks on pipelines,
North Korean nuclear tests—might send oil prices sharply upward, at least temporarily. That has all changed as the U.S. shale drilling bonanza has come online over the last decade, and especially since 2015. U.S. oil production from shale has soared, especially in the Permian basin in the Southwest. "

Energy Markets


WTI Crude Oil: ↓ $62.46
Natural Gas: ↑ $2.17
Gasoline: ↑ $2.59

Diesel: ↑ $3.01
Heating Oil: ↑ $203.77
Brent Crude Oil: ↑ $68.28
** US Rig Count ([link removed])
: ↓ 821



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