Youth climate group endorses Sullivan; Buffett betting on pipelines.

In News by wp_sysadmin


 Red Flags Point to Faltering Recovery in Oil
Joe Wallace, The Wall Street Journal, August 20, 2020

After rebounding from a historic crash this spring, the oil market is back under pressure from the twin forces of rising supply and stalling demand. Futures for Brent crude, the benchmark in international energy markets, fell 1% to $44.94 a barrel Thursday after a group of major producers said the recovery in demand from the Covid-19 shock had been unexpectedly slow. West Texas Intermediate, the main U.S. oil gauge, also slipped.  Oil futures have leveled off over the summer after months of being racked by bouts of acute volatility. But signs of weakness have emerged under the surface of the market, pointing to a long-lasting glut that is likely to keep a lid on prices.


Why Warren Buffett is betting on energy pipelines even as climate fears, and renewables, are rising
Oil & Gas 360, August 19, 2020

With the coronavirus pandemic slashing demand for the oil and gas that has been booming in the U.S. shale during the past decade, energy pipeline development has stalled. The midstream portion of the energy complex, as it is known, may not recover soon, but it will recover, according to energy experts, and none other than Warren Buffett — who has been uncharacteristically shy about making investments during the Covid-19 washout — is betting on that. The billionaire investor recently plunked down near-$10 billion to buy gas pipeline assets and related debt.


Legal Drama In Wyoming Could Decide The Fate Of America’s Two Largest Coal Mining Firms
Scott Carpenter, Forbes, August 20, 2020

Key takeaways:

  • The Federal Trade Commission wants to block a proposed joint venture by Peabody Energy and Arch Resources, arguing it would crush competition in a region that supplies 40% of America’s coal. Peabody and Arch say falling costs of natural gas and renewable energy leave them little choice.
  • U.S. Attorney General William Barr said he would look into whether the Justice Department could intervene to override the FTC.
  • Lawyers have already delivered final arguments in the case and a decision could arrive in September.


From the Washington Examiner, Daily on Energy:

WINNING THE YOUTH VOTE: The American Conservation Coalition, a conservative youth climate group, unveiled  2020 endorsements  for three dozen Republican candidates Thursday, who the group says are prioritizing environmental issues in their platforms or their work already in Congress.  Alaska Senator Dan Sullivan is on the list!

On their list are 28 sitting lawmakers, including top House Republicans such as Republican leader Kevin McCarthy and top Republican on the House climate committee Garret Graves, as well as several vulnerable Republican senators this cycle, such as Maine Sen. Susan Collins, Colorado Sen. Cory Gardner, Montana Sen. Steve Daines, and Arizona Sen. Martha McSally.

ACC is also backing several Republican challengers seeking to flip blue districts this fall — including John James, who is challenging Michigan Sen. Gary Peters, and several GOP candidates seeking House seats, such as Peter Meijer in Michigan, Nancy Mace in South Carolina, and Young Kim in California.