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Author: <span>Shiloh</span>

New York Seeks Retribution for Alleged Climate Change Damages

By Alex Mills

The crusade against fossil fuels – crude oil, natural gas and coal – has engulfed the political arena for several decades, but the fight has expanded recently into the legal system.

Liberals on the left have tried to tax and regulate fossil fuels dating back to the 1970s when President Jimmy Carter signed the Crude Oil Windfall Profits Tax, which was later repealed when oil prices dropped from $30 per barrel to $10 and projected tax revenues failed to materialize. President Bill Clinton pushed, but failed to pass, a tax on fossil fuels, called the Btu Tax which is short for British Thermal Units, a measurement of energy. President Obama went another route with his cap-and-trade legislation, but it failed, too.

The efforts of governments to punish producers of fossil fuels seem to be endless. Currently, various groups push for a new carbon tax with the stated goals of increasing the cost of fossil fuels (making exotic energy, such as wind and solar, more competitive), reducing fossil fuel consumption, and further limiting greenhouse gas emissions. Of course, the adoption of a carbon tax would have a negative impact on crude oil and natural gas production, resulting in reduction in supply. When supply declines prices would rise to consumers resulting in a negative impact on the economy…..
 

Update: Officials Warn of Asbestos Debris as Residents Return to Port Neches-Area Homes, Fire Contained But Could Burn for Days

December 1, 2019

A large fire is contained at a chemical manufacturing plant in Port Neches and evacuated residents have returned home, but the company that operates the site is warning of asbestos debris that might be found near the plant after an explosion last week……
 

Explosions and Fire at Port Neches Chemical Plant, Injured Released from Hospitals, Fire Contained: Officials, Local Media

One explosion about 1 am, another about 12 hours later…evacuation of nearby homes and businesses…no elevated chemicals in the air nearby, officials say

 

November 27, 2019

Three workers who were injured in a massive explosion at a chemical plant operated by TPC Group have been released from hospitals by Wednesday afternoon…..
 

Study forecasts more increases in US oil production

By Alex Mills

Even though there appears to be signs of weakening in the crude oil and natural gas production boom in the U.S., a new report from the Energy Information Administration (EIA) predicts continued production increases through 2020.

EIA revised its Short-Term Energy Outlook this week forecasting a 119,000 barrels per day (b/d) increase in oil production in 2020 over 2019. EIA says oil production will increase to 12.3 million b/d this year, which is up from 11 million b/d in 2018.

EIA increased its U.S. benchmark West Texas Intermediate (WTI) crude oil price forecast by $2 per barrel in November to $56 and by $1 in both December and January to $55 and $54, respectively. The slight increase in crude oil prices also contributed to EIA’s increased production forecast for the first half of 2020 because of EIA’s assumption of a six-month lag between a crude oil price change and a production response.

The Permian Basin of West Texas and East New Mexico continue to lead the way. EIA forecasts Permian production will grow by 915,000 b/d in 2019 and by 809,000 b/d in 2020. EIA based production increases in the Permian Basin on the expansion of pipelines in the area allowing for more crude oil and natural gas to be shipped to consumers and relieving the price reduction because of oversupply…..