Sudden pressure changes for fish travelling past a traditional dam can kill them, even if they make it past the turbine blades For more information, see "Sustainable and Renewable Energy" below.

Natural Gas in Underground Storage

The weekly EIA Natural Gas Storage Report advised today that there was an injection of 37Bcf into Underground Storage for the week ending 7/17/20.

This is 1Bcf above the forecast of a 36Bcf injection, the average prediction of sector analysts and traders in the Dow Jones Newswires weekly survey. This compares with an injection of 44Bcf last year and a 37Bcf build for the five-year average. Storage is 656Bcf above last year for the same week and 436Bcf above the 5-year average. Working gas in storage stands at 3,215Bcf.
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Natural Gas Pricing


As of 10:12AM CST, August 2020, (the prompt month) Natural Gas was trading at $1.74, -$0.01 from one week ago and the 1-Year Spread average was $2.39, -$0.03 from one week ago.

Crude Oil Pricing


As of 9:34AM CST, September, 2020, (the prompt month) Light, Sweet Crude on the NYMEX was at $41.71  +$0.74 from one week ago.

Crude Oil Inventory


US crude inventories (EIA) decreased by 7.5 million barrels to 531.7 million for the week ended July 10th, according to data released yesterday morning by the US Dept of Energy. Traders in the Reuters poll expected a decrease of 2.1 million barrels.

U.S. Rotary Rigs


According to the Baker Hughes Count, US Rotary Rigs targeting Natural Gas were -4 at 75 for the week ending July 17th and -103 from last year.

Rigs targeting Crude were -4 at 75. There are 599 fewer rigs targeting oil than last year. Canadian Rigs were +6 to 32 and -86 from last year. US Rigs drilling for oil rise 1% to 71% of all drilling activity.

Geopolitical


Guidehouse: Utility-scale energy storage industry ‘blossoming’ in several US states: The US utility-scale energy storage market is projected to maintain its position as the world’s largest and fastest-growing in the coming years, according to a new report from Guidehouse Insights.

Despite the rapid growth, the development of new utility-scale energy storage systems (ESSs) remains highly concentrated in a few states. The market research provider’s report shows California, New York, and Texas lead the top 10 US energy storage markets.

Alex Eller, senior research analyst with Guidehouse Insights, said utility-scale energy storage in the US “has quickly transformed from an expensive and poorly understood niche technology to a major source of new investment.”

“While several states have seen a blossoming storage industry, many others have little to no utility-scale energy storage currently operating,” he said.

“However, this reality is expected to change quickly as the falling costs of batteries and other technologies allow utility-scale energy storage projects to compete directly with conventional fossil fuel systems.”

The report, ‘Leading US States for Utility-Scale Energy Storage’, says the US utility-scale energy storage market is the most diverse in terms of the uses of energy storage and the number of competitors and technologies.

It notes that while the market is highly fragmented, additional states are quickly emerging as strong markets. However, the report warns of varying market structures, regulations and economic applications for projects in different (Read More ...)

Weather


The AccuWeather 1-5 Day Outlook forecasts above-normal temps for Northeast quarter of the US and below-normal temps for Southern California, Arizona and Southeast Texas. The balance of the country is projected to be at normal temps.

The 6-10 Day Outlook forecasts above-normal temps for the East Coast states and the Western third of the US. The balsnce of the US is projected to be at normal temps.

The 11-15 Day Outlook forecasts above-normal temps for most of the US, with the exception of the states moving from the Great Lakes- southwest through Northeast Texas, which are expected to be at normal temps.

The 30-Day Outlook shows above-normal temps for the Northern 2/3 of the country, with the Southern third of the US projected to be at normal temps.

The 90-Day Outlook shows above-normal temps for the Northeast quarter of the US and much of the Western states, with the exception of Western California, Oregon and Washington, as well as the southern-most states, which will be at normal temps, as will the balance of the US. 

Severe Weather: Severe thunderstorms appears most concentrated today into this evening over parts of the Northeast and the northern Great Plains. Damaging wind and at least isolated large hail will be possible in both areas.  Severe thunderstorms capable of producing isolated large hail and damaging winds appear possible Friday across parts of the northern Plains into the Upper Midwest. Other strong storms may also occur from portions of the Virginia Tidewater to the Carolinas. Severe thunderstorms may occur Saturday as well (Read More ...)

Sustainable and Renewable Energy


The world’s most relied-upon renewable energy source isn’t wind or sunlight, but water. Last year, the world’s hydropower capacity reached a record 1,308 gigawatts (to put this number in perspective, just one gigawatt is equivalent to the power produced by 1.3 million race horses or 2,000 speeding Corvettes). Utilities throughout the globe rely upon hydropower to generate electricity because it is cheap, easily stored and dispatched, and produced with no fuel combustion, meaning it won’t release carbon dioxide or pollutants the way power plants burning fossil fuels such as coal or natural gas do.

As with other energy sources, however, hydropower is not without an environmental cost. Beyond the profound ecosystem impact of damming and diverting huge waterways, hydropower can wreak havoc on native aquatic species and their ecosystems. The majority of watersheds around the world – some of which have operated on hydropower for more than a century – are highly degraded, with polluted waterways and outmoded technology. Traditional reservoirs are often stagnant bodies of water; because of this, they are frequently sites of harmful algal blooms, or HABs, which are toxic to people, fish, shellfish, marine mammals and birds.

As well as profoundly altering the watercourse, large hydro dams can be a death-zone for fish. As well as obstructing their migratory routes, the fast-spinning turbine blades can cut them. If they make it past the blades, sudden changes in pressure can kill the fish, as can shear forces during passage through the (Read More ...)

This Week’s Key Take-Away


More than 30 Companies Walk the Talk on Climate Leadership, Calling on Congress to Support Clean Energy in COVID Relief and Recovery: Yesterday, 32 major energy buyers called on Congress to combat climate change while providing COVID-19 relief and putting Americans back to work. In asking lawmakers to invest in and ensure the viability of the renewable energy sector, these businesses are using their voices to advocate for policies consistent with their environmental goals. They’re also setting an example for others to follow.

Signatories to yesterday's letter include Adobe, Cargill, Danone North America, Dell Technologies; DSM North America; Hewlett Packard Enterprise, LafargeHolcim, Levi Strauss & Co, Mars Incorporated, McDonald’s, Nestlé, PepsiCo, Trane Technologies, Tyson Foods, Inc, Unilever, and Yum! Brands, Inc. The Renewable Energy Buyers Alliance, a leading trade association representing over 120 organizations that purchase renewable energy, also signed.

These major employers and energy users recognize that one of the most effective ways to reduce greenhouse gas emissions is to use renewable power, and that a vital clean energy sector is also a powerful engine for economic growth and job creation. Before the pandemic, clean energy was one of the nation’s strongest sectors, growing 70% faster than the economy as a whole. As COVID relief and stimulus packages are considered on Capitol Hill, lawmakers must ensure that renewable energy is a key part of any plan for COVID relief and recovery.