2018年4月25日 星期三

Morning Volt for 04/25/2018, presented by Chevron

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Big Oil Gets Little Love From Investors

Kevin Crowley & Kelly Gilblom, Bloomberg

For generations of investors, Exxon Mobil Corp. has been a cornerstone of fund managers' portfolios alongside the biggest names in corporate America. Not so much any more.From leading the S&P 500 Index a decade ago, the company has dropped to the ninth-largest in a top 10 now dominated by technology giants. Its rivals Royal Dutch Shell Plc and Chevron Corp. aren't faring much better, with investors demanding unusually high dividend yields to hold the stocks.At fault, a toxic troika that combines gushing supply with fears that long-term demand will flat-line as electric vehicles and renewable...

Trump Tries to Beat 'Blame Game' on Rising Pump Prices

Josh Siegel, Examiner

President Trump's declaration that crude oil prices are artificially high may have been an early move to deflect ire from U.S. consumers angry about rising gasoline prices headed into summer and election season.Oil prices reached a three-year high last week, approaching $70 per barrel from below $30 per barrel in 2016, which is driving up the price of gasoline.Pump prices were $2.79 per gallon on average nationwide Monday, up 5 cents from last week and 35 cents from a year ago, according to the Energy Information Administration. Experts say drivers this summer could pay the highest...

Pruitt: Delete Decades of Science for 'Transparency'

Trevor Nace, Forbes

Scott Pruitt, the Environmental Protection Agency's (EPA) Administrator, has systematically removed science from environmental decisions and regulations in the United States. Now, he's working on yet another rule that would eliminate decades of scientific studies from being considered when writing regulatory standards.The new rule proposed today would require any data used by the EPA to set regulatory requirements to be publicly available. This new rule masks, which was proposed in the name of "transparency" in fact hides decades of scientific research.

Al Gore: Trump Won't Change His Mind on Paris Climate Deal

Amy Harder, Axios

Al Gore predicted at an Axios event Tuesday that President Trump won't reverse course about withdrawing America from the Paris climate deal.The insight from the former vice president and long-time climate activist offers a blunt state-of-play almost a year after Trump announced he would withdraw the U.S. from the Paris deal. At the time, and sporadically since then, Trump said he would re-enter the accord if he could get a better deal, but that prospect is much less likely now than it was then given key staff departures and administration priorities elsewhere.

Pruitt Support in Senate Erodes as GOP Seeks Hearings

Anthony Adragna, Politico

Scott Pruitt's wall of GOP support developed some new cracks on Monday, with three key Senate defenders calling for hearings into the embattled EPA administrator's recent controversies.The three, including staunch Pruitt ally Sen. Jim Inhofe (R-Okla), all said they supported hearings by the Senate Environment and Public Works Committee to look into the former Oklahoma attorney general's actions.

Keep Fossil Fuel Companies Inside Climate Tent

Natasha Landell-Mills, FT

Please use the sharing tools found via the email icon at the top of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/59bfd1cc-3c13-11e8-b7e0-52972418fec4At last count, more than 850 institutions, accounting for about $1tn globally, had announced they would sell some or all of their shares in fossil fuel companies, according to...

New EPA Policies Threaten Women

Osub Ahmed, Erin Auel, & Shilpa Phadke, CAP

Environmental Protection Agency (EPA) Administrator Scott Pruitt has recently been embroiled in ethical questions related to luxury travel, excessive security expenses, and other misuses of taxpayer funds. Amid these worthy concerns, however, a dangerous aspect of his work has flown under the radar: his continued prioritization of polluters and corporations at the expense of women and their families. This disproportionately affects women of color and their reproductive health. His attempts to dismantle vital environmental protections and undermine science-based decision-making are causing...

After Years of Skepticism, Ferrari Tests Electric Supercar

Jill Petzinger, Quartz

Sergio Marchionne, the CEO of Ferrari and Fiat Chrysler, has been famously skeptical, even scathing, about electric cars in the past. But it looks like he had a change of heart, after he told Bloomberg Television that Ferrari has been testing a new gasoline-battery hybrid at its track near Maranello, Italy.Marchionne had said in October that if electricity to power the batteries comes from polluting sources, then the analysis that we are going to save the planet with electric cars is nonsense. He also said at a press conference in January that electric cars were not worth the...

NAFTA Energy Talks Bogged

Josh Zumbrun, Santiago Perez, & Anthony Harrup, WSJ

The Trump administration is at odds with American companies over a proposed rule change to the North American Free Trade Agreement that is endangering a bright spotenergyin contentious treaty talks.All three Nafta countriesthe U.S., Canada and Mexicoagree that a new treaty should aid the burgeoning energy trade. Under negotiation are initiatives to ease the construction of pipelines across borders, to aid U.S. exports of natural gas and to assist American companies opening gas stations or explore for oil in Mexico.

After Diesel Scandal, VW Turns to Electric Cars

Sonari Glinton, NPR

Volkswagen is trying yet again to turn the page after its emissions cheating scandal leaving diesel behind in favor of electric cars.The major shift comes as the German automaker the world's largest in term of cars sold has a new leader in Herbert Diess.The company admitted to installing "cheat devices" that covered up how polluting its diesel vehicles were. Michael Horn, who was then the CEO of Volkswagen Group of America, took to a Brooklyn stage in 2015 for what would be the first of many apologies by company leaders."Our company was dishonest with the EPA and the California...

The World Needs to Store Billions of Tons of Carbon

Chris Mooney, Washington Post

The corn-based ethanol industry could become a surprising leader in a technology that the world needs to fight climate change, an economic analysis published Monday suggests a development that could scramble the intense environmental politics of the ethanol issue.The technology in question is carbon capture and storage, or CCS widely believed to be necessary to save the climate but still in a fledgling state, with relatively few large-scale installations around the world. But fitting corn-ethanol refineries with carbon-storing technologies would be a winning financial proposition that...

Can Electric Cars Cause Pacemakers to Malfunction?

Allan Adamson, Tech Times

Electromagnetic fields generated by some electric car models do not seem strong enough to interfere with defibrillators or pacemakers. Does this mean that patients with implanted heart devices can safely drive electric vehicles?Findings of a new study published in the journal Annals of Internal Medicine on April 23 showed that people with implanted cardiac devices designed to keep their hearts working smoothly can safely drive an electric car.Researchers found that the technology used to power these cars won't interfere with implantable defibrillators or pacemakers.

How the New Deal Helped Seed Modern Environmentalism

Benjamin Alexander, TC

Eighty-five years ago, on April 5, 1933, President Franklin D. Roosevelt signed an executive order allocating US$10 million for Emergency Conservation Work. This step launched one of the New Deal's signature relief programs: the Civilian Conservation Corps, or CCC. Its mission was to put unemployed Americans to work improving the nation's natural resources, especially forests and public parks.Today, when Americans talk about big government, the connotation is almost always negative. But as I show in my history of the Corps, this agency infused money into the economy at a time...

Fossil Fuel Divestment: Political Pandering or Wise Investing?

Chris Tomlinson, HC

Europe's largest bank will no longer finance new coal-fired power plants, oil sand projects or arctic drilling, but was this decision driven by politics or risk?The answer is that one sped recognition of the other, and the energy industry better take notice.HSBC announced the new policy the day before a shareholder meeting where activists were expected to demand polices that recognized both the environmental and financial risk presented by climate change.

Global Oil Supply Surplus May Soon Become a Shortage

Myra P. Saefong, MW

Oil prices have rallied so far this year, as OPEC-led efforts have helped erase a big global surplus, but the market may soon suffer from a new dilemma: a shortage of crude supplies that would support further price gains.Stockpiles of the commodity among the industrialized nations that make up the Organization for Economic Cooperation and Development (OECD) stood at 2.84 billion barrels at the end of February, only 30 million barrels above the five-year average, according to a monthly report from the International Energy Agency (IEA).The global market has tightened considerably in recent...

Stop Comparing Fossil Fuel Companies to the Tobacco Industry

Denver Post

Climate change is real, but so is the reality that fossil fuels continue to underpin modern civilization, even as our reliance on them is slowly, steadily and appropriately reduced.Without fossil fuels, transportation would stagger to a halt, agricultural productivity would plummet, millions would suffer from cold, heat and hunger, and untold legions would suffer premature death.That's why any comparison between fossil fuel companies and the tobacco industry, whose product is a health disaster with no redeeming economic value, is so wide of the mark. And yet officials from the city...

Trump's Revenge: US Oil Floods Europe

Olga Yagova & Libby George, Reuters

As OPEC's efforts to balance the oil market bear fruit, U.S. producers are reaping the benefits - and flooding Europe with a record amount of crude. Russia paired with the Organization of the Petroleum Exporting Countries last year in cutting oil output jointly by 1.8 million barrels per day (bpd), a deal they say has largely rebalanced the market and one that has helped elevate benchmark Brent prices close to four-year highs.Now, the relatively high prices brought about by that pact, coupled with surging U.S. output, are making it harder to sell Russian, Nigerian and other oil grades in...
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