Love the Smell of Gasoline? It’s Now at a Museum in Stockholm
Lars Paulsson, Bloomberg, August 23, 2019
From the roar of a combustion engine to the sensation of filling up a gas-guzzling car — these are experiences immortalized at the world’s first museum for fossil fuels in Stockholm “At The Museum of Fossil Fuels, you will be able to experience the sounds, smells, culture and phenomena that will have disappeared,” said Susanna Hurtig, Nordic Head of E-Mobility at Vattenfall AB, the Swedish utility that came up with the idea.
Our Take: We love the idea – even if we disagree that the “phenomena” of fossil fuels will disappear.
Keystone XL Pipeline gets nod from Nebraska Supreme Court
Miranda Green and Rebecca Klar, The Hill, August 23, 2019
The Keystone XL Pipeline is a step closer to beginning construction after Nebraska’s highest court approved plans through the state. The decision filed Friday by the Nebraska Supreme Court ruled that “after months of careful consideration” the court found evidence that showed the plans were in the “public interest,” and that the state’s Public Service Commission acted appropriately when it approved the path for the pipeline through Nebraska. The decision paves the way for construction to begin on the heavily stalled gas pipeline project.
Our Take: A good step forward, however, this pipeline has been in commission for NINE years and still faces multiple lawsuits before construction can begin. Environmentalists and their delay tactics hurt every American and the American economy – money wasted, jobs lost, lack of affordable energy.
Oil Slides as Latest China Tariffs Reignite Demand Fears
Amrith Ramkumar, The Wall Street Journal, August 23, 2019
Oil prices fell Friday after China said it would impose tariffs on $75 billion worth of additional U.S. products including crude imports and President Trump said he would respond, the latest trade developments that investors fear could crimp fuel consumption. U.S. crude futures fell 3.1% to $53.63 a barrel on the New York Mercantile Exchange following the announcement, the newest salvo in the U.S.-China trade spat that has swung markets in recent months. Oil is about 19% below its April peak with analysts wary that softening demand and steady supply will result in a glut. Brent crude, the global gauge of prices, declined 2% to $58.70 a barrel on the Intercontinental Exchange.