OIL
Oil Prices Drop As Markets Await U.S. Election Result
Tsvetana Paraskova, OilPrice.Com, November 5, 2020
Oil prices dropped on Thursday morning as a highly contested presidential election continued to be too close to call as of 11 a.m. ET, although Democratic candidate Joe Biden was within six electoral votes to win. As of 11:37 a.m. ET on Thursday, WTI Crude was down 1.53 percent at $38.47, and Brent Crude was trading down 1.50 percent at $40.74, as Biden was in the lead in electoral votes over President Donald Trump.
A Trump win would be more bullish for oil, analysts say, because of the President’s continued pro-oil policies. Biden, on the other hand, has said he would seek a path of diplomacy toward Iran, which could potentially bring Iranian barrels back to the oil market at some point next year under a Biden Administration.
GAS
Shale Gas: A Game-Changer for US Manufacturing
University of Michigan, Real Clear Energy, November 2020
Bottom Line: The U.S. shale natural gas revolution since 2008 presents a tremendous opportunity for an accompanying boom in manufacturing. There is a policy void, however, to make this realized. A 2014 University of Michigan’s public-private stakeholders’ symposium brought together top decision-makers from the private and public sectors to develop a set of options aimed at strengthening U.S. manufacturing through sustainable shale gas use. There are five key recommendations that must be implemented to achieve the desired results.
MINING
Critical Minerals Alaska 2020
Shane and Rebecca Lasley, November 2020
Check out this great magazine from our friends at North of 60 Mining! Alaska’s geographic separation and complex tectonic history provide it with a geology unique within the Nation. As a result, it contains mineral resources not common in other parts of the United States, including known or potential occurrences of many of the strategic and critical elements that are vital to national defense, renewable-energy, and emerging electronics technologies
POLITICS
GOP Senate wins wreak havoc on Biden transition plans
Hans Nicholls, Mike Allen, Axios, November 5, 2020
Republicans’ likely hold on the Senate is forcing Joe Biden’s transition team to consider limiting its prospective Cabinet nominees to those who Mitch McConnell can live with, according to people familiar with the matter.
Why it matters: The new Senate political math could dash the ambitions of some Democrats, including those who have clashed with Republicans. It could push Biden to go with more centrist options, like Lael Brainard for Treasury or Tony Blinken for State, sources tell Axios.
Susan Rice and Stacey Abrams could be early casualties, depending on McConnell’s posture.
But it could also open paths for others, like Sen. Chris Coons, who could benefit from a tradition of senatorial courtesy for quick confirmations of nominees within its ranks. A source close to McConnell tells Axios a Republican Senate would work with Biden on centrist nominees but no “radical progressives” or ones who are controversial with conservatives. The Biden agenda would be severely restricted by GOP control, the source added: “It’s going to be armed camps.”