OIL
Offshore oil and gas production is crimped by Gulf storms
David Koenig, Associated Press, August 23, 2020
Oil and gas production in the Gulf of Mexico was slowed Sunday by the approach of two storms that led companies to remove workers from more than 100 offshore platforms. The Interior Department said that based on company reports at midday, 114 platforms had been evacuated. That is 18% of the staffed platforms in the Gulf, but they account for 58% of Gulf oil production and 45% of its natural gas output. Energy companies are also moving drilling rigs used to explore for oil and gas.
GAS
Contrary to the news or public opinion, fossil fuels are not going away. Natural Gas is the bridge to climate change nirvana
Oil & Gas 360, August 24, 2020
“Fossil Fuels are not going away. Natural Gas is the bridge to climate change nirvana.” – Stu Turley
There seems to be several common threads to our mixed-up world in 2020. Everyone seems to have forgotten what it means to be human, and there is a mixed message about fossil vs. renewable. Just take a look at California exemplifying the results of decades of a poorly implemented Green Energy plan. A well balanced diet of nuclear, natural gas, solar, wind, hydro, and other renewables will get us to climate change nirvana quicker with the lowest kWh for the consumer.
MINING
Northern Dynasty shares dive on reports of planned Pebble halt
Mining.Com, August 24, 2020
Shares of Canadian miner Northern Dynasty Minerals Ltd plunged 47% on Monday after media reports said the administration of U.S. President Donald Trump plans to block its proposed Pebble Mine in Alaska, despite denials by the company over the weekend. The project, which has known deposits of copper, gold and other metals, is located in an area that drains into Bristol Bay, home to the world’s most productive wild salmon fishery. Bloomberg on Sunday cited a person familiar saying the Trump administration is planning to block the controversial project. The Washington Post on Saturday cited sources saying the administration would pause the permit process on grounds the company must do more to show how it will reduce environmental harm caused by the project.
POLITICS
FX Daily: Politics, hurricanes and recovery hopes
ING, August 24, 2020
US politics remains centre stage ahead of the Republican National Convention. Investors are also keeping a close eye on the course and strength of two hurricanes set to hit the Gulf of Mexico