Climate Week misses the boat; Saudi supply fears wane

How ‘Climate Week’ Completely Missed The Boat On Natural Gas
Jude Clemente, Forbes, September 26, 2019

As a cleaner, more flexible, and more reliable fuel that supports intermittent wind and solar power, Natural gas is a centerpiece of climate and energy strategies put forth, including under President Obama. Incredibly, Climate Week in New York City did not have a single “Energy Transition” event that focused on gas. We know that this is a terrible missed opportunity because the surge in U.S. gas use has the country leading the world in CO2 reduction.

Just ask Dr. Fatih Birol, Director of the International Energy Agency, the energy advisor of our 36 OECD nations: “In the last 10 years, the emissions reductions in the United States has been the largest in the history of energy.” During this time, U.S. gas demand has soared over 30%, and gas has extended its share of U.S. electricity from 21% to 38%. Unfortunately, Climate Week ignored the reality that IEA has gas demand actually rising under its Sustainable Development Scenario that is fully aligned with the global Paris Agreement for climate signed in December 2015.

 

Oil prices head for weekly loss as supply fears wane
Stephanie Kelly, Reuters, September 26, 2019

Oil prices steadied on Friday but were heading for a weekly loss on a faster-than-expected recovery in Saudi output, while investors also worried about global crude demand amid slowing Chinese economic growth. Sources told Reuters this week that Saudi Arabia had restored capacity to 11.3 million barrels per day. Saudi Aramco has yet to confirm it is fully back online.

 

From the Daily on Energy:
FERC AND UNIVERSITY OF KENTUCKY PARTNER ON FORUM TO HELP COAL WORKERS: The Federal Energy Regulatory Commission is partnering with the University of Kentucky Center for Applied Energy Research on a forum to discuss challenges to workers caused by the transition of the energy system away from fossil fuels.

FERC Chairman Neil Chatterjee, a Republican from Kentucky, a coal state, announced Thursday the first ever “EnVision Forum” to take place October 21 with panel events focused on topics ranging from workforce impacts to the intersection of telecom and energy policies, to climate change, criminal justice, and water-related issues.

“We want to start some new conversations with new voices and create relationships and understanding among the range of interests that are affected by this energy transition,” Chatterjee said. “Launching the EnVision Forum in my home state of Kentucky, where we are seeing a wave of societal challenges due to the closure of coal plants and mines, was the logical first step for us to take.”

The forum, held at the University of Kentucky, includes a diverse set of speakers, most notably, coal executive and President Trump donor Bob Murray, Deputy Energy Secretary Dan Brouillette, and Democratic Senator Sheldon Whitehouse — a fossil fuel industry critic.