• November 13, 2019

ELAM: Let’s get serious about Sen. Warren - Odessa American: Dennis Elam

ELAM: Let’s get serious about Sen. Warren

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Posted: Sunday, October 27, 2019 5:00 am

Biden 21, Warren 28, Sanders 15, Buttigieg 10, Harris 5, Yang 1, O’Rourke 1, Klobuchar 3, Booker 1, Gabbard 1, Steyer 1, Castro 1, Bennet 0

Real Clear Politics latest poll numbers today

Biden’s early lead is evaporating and let’s face it, the hard Democrat left never really wanted him. He spent one million dollars on private jets in just one quarter. Sanders had a hear attack and has likely seen his best numbers.  None of the rest are anywhere close to Warren. Warren is the best organized and is emerging as the probable candidate.

And she is hiring a Texas campaign manager.  This is hard to imagine in the state that has almost single handedly made the USA the lead energy exporter in the world.

Elizabeth Warren has promised to ban fracking on her first day in office. I suspect that would create lots of lawsuits but in the mean time the entire energy industry would face the wrath of the EPA (remember the Obama EPA staffer who promised to crucify energy producers?).

Her ‘everything is free campaign’, college, health care, child care, will no doubt appeal to the ten million plus female single, no matter how unrealistic the math. Would Texas vote to wreck its own economy?

Karl Rove points out that 350,000 Texans work in oil and gas. Another 100,000 work in refineries. And then there are the support folks in restaurants and repair shops. The State of Texas received $14 billion in state and local taxes and royalties. School districts took in $1.2 billion and counties collected $366 million.

As I write California Governor Gavin Newsom blames oil companies for his state’s $4+ gasoline, about twice what Texans pay. Requiring special grades unique to California is the real reason.  But progressives like Newsom and Warren are never satisfied.

The clean up in auto emissions was not enough. I see estimates that if Warren got her way, oil might reach $150, and no telling where natural gas might soar. Worse we would lose the long sought energy independence we now finally enjoy. And then there are the billion dollar export terminals along the Gulf which would sit idle.

Trains, planes, and ocean going ships do not travel on renewable energy. The promise to rid us of fossil fuels in ten years is a pipe dream but a Warren candidacy is not. Plan to get out and vote.

Meanwhile the price of oil is firming at the mid 50s. Energy service shares are down hard again today. We remain focused on a mid-November low in share prices.  It may be the market is anticipating a strong Warren threat to the energy industry.

DAILY OIL PRICE: November 13

  • Crude Oil: 57.12 (+0.32).
  • Nymex MTD AVG:  56.7977.
  • Natural Gas: 2.600   (-0.021).
  • Gasoline: 1.6365   (+0.0221).
  • Spreads: December/January   (-.08)   January/February   (+.11).
  • Plains WTI Posting: 53.50   (+0.25)
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