After months of standoffs between police and protesters, the Dakota Access Pipeline (DAPL) has been given the green light to finish its final phase. The U.S. Army Corps of Engineers has granted an easement allowing DAPL to cross under the Missouri River Reservoir, which the Obama administration denied. This comes after President Trump’s executive order for the army to speed up its easement decision. What’s next for Trump?
What’s Next for Dakota Access Pipeline?
The Army is abandoning its environmental study of the Dakota Access Pipeline and grant a permit for completion following Trump’s executive order to complete the pipeline. Republicans and the oil industry are thrilled as DAPL is now ready to move forward with construction of the 1,172 mile oil pipeline which will pump as many as 570,000 barrels of oil daily from North Dakota to Illinois. The status of the pipeline was in doubt for months as President Obama stopped the project in its track. Now, however, the project’s completion looks to be imminent.
The company behind the pipeline, Energy Transfer Partners, says the pipeline will be ready for commercial service by June 1st, needing only 83 days to complete the final section of the pipeline from the time it’s granted the easement.
JULIE TURKEWITZ February 07, 2017 at 07:32PM Army Approves Construction of Dakota Access Pipeline … https://t.co/L717mwZVLn
— whitepm79 (@whitepm79) February 8, 2017
But the real significance of this is that Trump is holding true to his America First Energy Plan. That means that more oil projects are soon to be under way for the U.S., including the Keystone XL Pipeline. Energy has been one of Trump’s promises since he announced his intention to run for president. Now, he’s seeing it through.
Watch the news from ABC News regarding as President Trump signs to move forward Dakota Access Pipeline:
From here on in, the country should expect more fracking, drilling, and oil, as Trump looks to reestablish America as an independent leader in the energy sector. The thought process here follows Trump’s isolationist policies, freeing the U.S. from foreign energy influences. Investors would be wise to continue trading energy and oil companies, especially shares of Energy Transfer Partners, L.P. (ETP), which ticked up on the day.
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Moore: Biden Wants to ‘Decapitate’ The American Energy Industry
In a recent op-ed for Fox Business, Stephen Moore, a senior fellow at the Heritage Foundation and an economic consultant with FreedomWorks, said Joe Biden wants to “decapitate” the American energy industry, while also claiming that won’t.
Moore said Biden can’t help but contradict himself, as “he’s older; he loses his train of thought; he can’t be expected to remember his latest official position on fracking every week.”
Moore also mentioned during a recent stop in Pennsylvania, Biden has said we wouldn’t ban fracking.
“I am not banning fracking. Let me say that again. I am not banning fracking. No matter how many times Donald Trump lies about me,” said Biden.
Yet during the Democratic primary debate, Senator Bernie Sanders said “I’m talking about stopping fracking as soon as we possibly can. I’m talking about telling the fossil fuel industry that they are going to stop destroying this planet — no ifs, buts and maybes about it.”
“So am I.”
Moore said this forced the Biden campaign to issue a retraction. Biden didn’t mean to say that. However, his “Made in America” plan clearly doesn’t leave room for fracking as a source of energy.
“But what is unambiguous and in big, bold writing in the Biden ‘buy America’ plan is his signature pledge to the climate change crusaders to end fossil fuel use in America by 2035. This, of course, is a de facto ban on fracking, because if we aren’t going to use the energy, why would anyone drill for it?”
Biden’s zero-carbon emissions target by 2035, only 15 years away, requires no fossil fuel production. It also requires no fossil fuel consumption 15 years from now.
Currently, we get about 80% of our energy from fossil fuels according to Daniel Yergin, a world expert on energy.
Fossil Fuels and Blue-Collar Jobs
Moore says cutting out this major source of energy would be a “gut-wrenching experience for blue-collar workers.”
“The oil, gas and coal industry accounts for somewhere between 5 and 10 million jobs, depending on how you count them. These are almost all high-paying blue-collar jobs — the kind that Biden laughingly says he wants to bring back home to America — and hundreds of thousands of them are in battleground states such as Ohio, Pennsylvania and Colorado.”
We’ve become world leaders in energy production because of the hard-working fracking industry.
“Oil and gas IS made in America now, thanks, in no small part, to President Donald Trump’s all-in strategy of making the USA energy dominant,” said Moore, adding that Joe Biden’s plan would make us reliant on China, Russia and Saudi Arabia for our energy needs.
“So, Biden is telling us we are going to bring jobs back home by decapitating our energy industry. Wind and solar account for about 5% of our energy consumption today, so even if we double their output, we still need to have access to other energy. Under the Biden plan, it sure looks like we will have to get it from Russia, Saudi Arabia and even China, which is planning to build hundreds of coal plants over the next decade.”
China Doesn’t Care
Moore says China doesn’t care about climate change, only overthrowing America as a global leader.
“The leaders of Beijing could care less about climate change. What they do care about is global economic domination by knocking America off our pedestal.”
Joe Biden’s “Made In America” energy plan will help them do just that.
Oil Headed to $100? This Billionaire Says Yes
At least one billionaire investor says he’d be buying shares in airlines right now. This happened only days after Warren Buffett had announced that Berkshire Hathaway has sold all of its airline stocks.
Perhaps unbelievably, the billionaire also sees an opportunity in tourism and hotels and says oil will head much higher.
Naguib Sawaris, chairman and CEO of Orascom Investment Holding and the only non-North Korean to hold a telecom license in North Korea, said during a recent appearance on CNBC that he sees plenty of opportunities right now.
“With every crisis there is opportunity,” Sawiris said. “You can go and buy an airline today for $1 if you are assuming the bulk of the debt.”
Most US-based airline stocks are down 50% this year, and air travel has plunged more than 95%. This took place as the coronavirus pandemic has brought the travel and tourism industry to a grinding halt.
Hope exists that as the country starts reopening and eases restrictions, the travel and tourism industry can start to recover.
Sawaris says that President Trump’s decision to reopen the country is “one of the few times” he has been right. He also said that there is too much uncertainty around the possibility of a potential cure for the country to remain locked down.
“They might not find the cure, they might not find the vaccine, so how long are we going to be in prison in our homes?”
$100 Oil in 18 Months
Sawaris says that the recent price war between Saudi Arabia and Russia was a “calculated” move not against each other. However, he also believes this move serves as a coordinated effort to cripple the shale industry here in the United States.
He also believes that even if the OPEC+ nations, which includes both Saudi Arabia and Russia, had reached an agreement in March to cut production, both countries knew that oil prices were still going to fall as demand plunged across the globe due to the coronavirus. He said a deal in March would have meant lower oil prices. However, he pointed out that “it would have not fallen to this level.”
There are expectations that prices were going to continue falling. With this, both countries ramped up production when the existing agreement ended on April 1. There’s no other reason for this than to try and drive American shale companies out of business.
“I think it was calculated,” he said. “I think they knew that this was going to happen and they still wanted to do it because, by killing a competitor, the price will rise beyond 50 or 60 dollars.”
Sawaris went on to say that he expects oil prices to head much higher.
“I actually believe that 18 months from now oil will hit $100,” he said.
However, as John Browne, former CEO of British Petroleum points out, oil prices could stay low for a lot longer.
“The prices will be very low and I think they will remain low and very volatile for some considerable time,” Browne told the BBC in a recent interview.
“This is very reminiscent of a time in the mid-1980s when exactly the same situation happened – too much supply, too little demand and prices of oil stayed low for 17 years.”
Editor’s Note: What’s your take? Will oil prices push towards $100/barrel in the next 18 months? Or is cheap oil here to stay? Leave us your thoughts below.
Las Vegas Sands Once Again Recognized as World Leader for Climate Change
Las Vegas Sands has again been recognized by CDP, the international nonprofit environmental disclosure platform, on the Climate Change A List. This is the company’s fifth year in a row to attain a leadership position for Climate Change, a distinction shared by only 2% of disclosing companies.
“The CDP provides a comprehensive framework that continues to inspire us to become leaders in our industry and provide guidance for strategic direction,” Katarina Tesarova, senior vice president of global sustainability at Las Vegas Sands, said. “Among the thousands of companies that were scored this year, Sands is one of a very small number from around the world to make the A List. We’re proud to be recognized, and we will continue to work towards additional reduction of our environmental impact.”
Through Sands ECO360, the company’s award-winning global sustainability program, Sands has reached several environmental milestones, all contributing to its placement on the Climate A List. The iconic ArtScience Museum at Marina Bay Sands in Singapore is the first Asia-Pacific region museum to achieve LEED (Leadership in Energy and Environmental Design) certification, and The Parisian Macao achieved LEED Silver certification for newly constructed buildings – the first building in Macao to receive this distinction. Additionally, the implementation of 38 energy-efficient ECOTracker projects are expected save more than 48 million kilowatt hours of electricity every year, through LED lighting upgrades, energy savings campaigns focused on consuming less electricity and more.
Sands has participated in the CDP environmental disclosure platform since 2012, starting first with reporting on climate change initiatives. Achievement of the Climate Change A List highlights the company’s work towards cutting emissions, mitigating climate risks and building integrated resorts responsibly.
The company has also retained its leadership in corporate sustainability with its most recent recognitions on the Dow Jones Sustainability Indices (DJSI) and America’s Best Employers by Forbes.
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