US is well on its way to Trump’s goal of ‘energy dominance,’ says Marathon Petroleum CEO
Elizabeth Gurdus, CNBC, December 5, 2018
President Donald Trump’s goal of making the United States a global superpower in energy is starting to come true, Marathon Petroleum Corp. Chairman and CEO Gary Heminger told CNBC on Tuesday. “When I look at the president’s theme to begin with and the beginning of his administration, he wanted to have energy dominance in the U.S. and I believe that we are well on our way,” Heminger told Jim Cramer in an exclusive “Mad Money” interview. “We’re the largest producer in the world today.” Recent declines in oil prices haven’t stopped U.S. producers from pumping more oil ahead of OPEC’s meetings later this week, at which the group of oil-exporting countries are expected to cut production.
OPEC tentatively agrees to oil cut, waits for Russia to commit
Rania El Garmal, Ahmad Ghaddar, Reuters, December 6, 2018
OPEC tentatively agreed to an oil output cut on Thursday but was waiting for a commitment from non-OPEC heavyweight Russia before deciding the exact volumes for a production reduction aimed at propping up crude prices, two sources from the group said. Russian Energy Minister Alexander Novak flew home from Vienna earlier for talks with President Vladimir Putin in St Petersburg. Novak returns to the Austrian capital on Friday for discussions among Saudi-led OPEC and the group’s allies. The price of crude has fallen almost a third since October, but U.S. President Donald Trump has demanded the Organization of the Petroleum Exporting Countries make oil even cheaper by refraining from output cuts.
From the Washington Examiner, Daily on Energy:
CONSERVATIVE GROUPS SURVEY SHOWS MIDTERM VOTERS WANT ACTION ON CLEAN ENERGY: A post midterm-election survey conducted by conservative groups shows a majority of voters want to see action on legislation to promote clean energy.
The survey released Thursday by Citizens for Responsible Energy Solutions Forum and the Conservative Energy Network found that 68 percent of voters surveyed say that the issue of clean energy was important to their vote in 2018, and even bigger majorities say they would support candidates who support clean energy.
“These survey results represent what we have seen time and time again—that voters understand the benefits of clean energy policy and they want action,” said CRES Forum Managing Director Heather Reams.
The survey was completed November 8‐12, 2018, among 800 respondents who voted in the 2018 election.
Our Take: Clean energy = natural gas. We’ve got it. They want it. Good.