Sunday, December 23, 2018

The Market, Energy, And Political Page, T+48 -- December 23, 2018

Rumor: with the announcement that the US will pull out of Syria, ISIS has announced it will no longer ban single-use plastic straws.

Natural gas storage: a reader who follows this very, very closely, has put this past week's natural gas draw in perspective. See this post.

Massive Costs Associated With Anti-Energy Movement

Massive costs associated with anti-energy movement called, "Keep It In The Ground." The only thing surprising about this study -- it required to a study to confirm the obvious.
A new report by the U.S. Chamber of Commerce Global Energy Institute (GEI) found that the anti-energy “Keep it in the Ground” (KIITG) movement has prevented at least $91.9 billion in domestic economic activity and eliminated nearly 730,000 job opportunities.
In addition, federal, state, and local governments have missed out on more than $20 billion in tax revenue. The report, “Infrastructure Lost: Why America Cannot Afford To ‘Keep It In the Ground,’” quantifies the impacts of delayed and cancelled energy infrastructure projects that would enhance American consumers’ access to abundant, affordable energy and provide hundreds of thousands of good-paying jobs.
In recent years, KIITG activists have worked to derail these projects by waging countless lawsuits, protests and even vandalizing private property with the goal of delaying or outright killing projects.
To quantify the economic impact of the KIITG movement, GEI analyzed select projects that were either cancelled or delayed by protests, lawsuits or legislation. While the universe of targeted projects is vast, the report focuses on 15 projects including pipelines, power plants, transmission lines and export facilities as well as the statewide hydraulic fracturing ban in New York.
Taken together, the $91.9 billion in lost economic activity is larger than the entire economies of 12 states.
I assume the report will highlight the states most affected by the KIITG movement. My hunch: most of the states will be on the east coast, west coast, and Nebraska.


From twitter today:

For a president who is said to have a chaotic White House, it sure seems like he has things under control.

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