The Oil Market Tanks Due To Bargain Basement Prices — Bad News or Is There a Silver Lining?

The Oil Market Tanks Due To Bargain Basement Prices — Bad News or Is There a Silver Lining?

Yesterday’s dramatic fall in oil and gas prices, according to the President is good for consumers, and it is true that gas prices will immediately come down slightly at the pump — but the secondary effects could be far more negative than positive on the U.S. economy.  Why?  The U.S. is now a net exporter of oil and since the domestic oil production industry has grown so large, the investment bank Morgan Stanley predicts that “the pain of lower oil prices is likely to outstrip whatever positive boost cheaper gas prices might provide to U.S. consumers” particularly when compounded with coronavirus fears depressing the economy more generally.

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Bloomberg’s Position on Natural Gas Gets Greater Scrutiny

Bloomberg’s Position on Natural Gas Gets Greater Scrutiny

Presidential candidate Mike Bloomberg’s position on natural gas took center stage yesterday with the President tweeting to “Texas & Oklahoma” — two Super Tuesday states — that people should not vote for “Mini Mike” because he will kill “your drilling, fracking, and pipelines.”  However, according to The Washington Post, Bloomberg’s position on natural gas is more complicated.

Why This Matters:  Bloomberg has funded a highly successful campaign to shutter dirty coal plants in the U.S., but overall his position on fossil fuels is the most conservative of the remaining top tier Presidential candidates.

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Democrats Debate Climate Change Issues in Las Vegas — Finally

Democrats Debate Climate Change Issues in Las Vegas — Finally

At the Democratic Debate in Las Vegas last night, the moderators asked a series of questions on climate change and environmental issues, and the candidates had a chance to both explain their plans and to talk about their priorities.

Why This Matters:   The MSNBC moderators recognized that climate change is one of the most important issues to the Democratic voters and gave it at least 15 minutes — it got one of the longest time blocks of the debate, albeit in the second hour.

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Making Plastic From Fracked Natural Gas Could Replace Coal and Steel in Ohio Valley

Making Plastic From Fracked Natural Gas Could Replace Coal and Steel in Ohio Valley

Here in Madrid, the Mayor of Pittsburgh, Bill Peduto, touted his city as a green Phoenix, rising from the ashes of the failed steel and coal industries, with a growing economy based on high tech and health care companies and improved air and water quality — the city is turning a corner.  But he pointed out that just up the road Royal Dutch Shell is building a giant, greenhouse gas-spewing plant near Pittsburgh that will (using a process called “ethane cracking”) make tiny plastic pellets that can be turned into items like phone cases, auto parts, and food packaging according to The New York Times.

Why This Matters:  The Pittsburgh plant will be allowed to emit each year 2.25 million tons of carbon dioxide, 522 tons of volatile organic compounds (VOCs), and 160 tons of particulate pollution or soot, according to local NGO the Breathe Project.

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Trump Administration Plans To Open 1.9M Acres of TX Forests and Grasslands to Drilling

Trump Administration Plans To Open 1.9M Acres of TX Forests and Grasslands to Drilling

The Trump Administration is poised to open nearly 2 million acres of land in U.S. national forests in Texas to oil and gas drilling and fracking, which would allow lease holding companies to drill more than 1,000 horizontal wells and 500 vertical wells over a 20-year time period,

Why This Matters:  This is yet another senseless Trump rollback that would do significant environmental damag

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CA Governor Halts Fracking Permits, NY Governor In Standoff Over Natural Gas

CA Governor Halts Fracking Permits, NY Governor In Standoff Over Natural Gas

Governors on both coasts are going to battle with oil and gas companies over climate change. Continuing his strong environmental protection agenda, California Governor Gavin Newsom on Tuesday announced new regulations putting in place a moratorium on fracking and curbed steam-injected oil drilling in the state, which environmentalists have long opposed.  Meanwhile, NY Governor Andrew Cuomo […]

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