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DAILY ENERGY NEWS | 03/30/2023
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** Exactly who does Joseph Robinette Biden Jr. work for?
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Reuters ([link removed]) (3/30/23) reports: "U.S. carmaker Ford has joined PT Vale Indonesia and China's Zhejiang Huayou Cobalt's as their new partner in a $4.5 billion nickel processing plant in Indonesia, the companies said on Thursday. The investment is Ford's first in the Southeast Asian country and underscores growing appetite among automakers for raw materials used in producing electric vehicle (EV) batteries, which account for about 40% of a vehicle's sticker price, aiming to cut costs and close the gap on EV market leader Tesla. Volkswagen Europe's biggest automaker, this month said that it would invest 180 billion euros ($196 billion) over five years in areas including battery production and the sourcing of raw materials. Indonesia, which has the world's biggest nickel reserves, has been trying to develop downstream industries for the metal, ultimately
aiming to produce batteries and electric vehicles. The proposed high-pressure acid leaching (HPAL) plant will be located in Pomalaa in Southeast Sulawesi, where Vale operates a nickel mine."
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** "The standard EV business model envisions owners charging their EVs at the time of the day when the sun is setting and the winds are dying down. That in turn will mean that, as EV usage rapidly expands, power grid operators will have to find ways to permit the building of huge addition dispatchable thermal capacity and nuclear, or invest trillions is expensive back up battery installations, to handle the rising evening load from EV charging."
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– David Blackmon, Energy Transition Absurdities ([link removed])
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H.R. 1, but not done. House bill an important first step in a long road to an energy recovery.
** Daily Mail ([link removed])
(3/30/23) reports: "House Republicans passed a sprawling energy package that would bring more oil, gas and critical minerals to market by cutting regulations and shortening the permitting process. The final vote was 225-204 - with four Democrats joining all but one Republican and six members not voting. Rep Brian Fitzpatrick, R-Pa., voted against the bill. Senate Majority Leader Chuck Schumer (D-N.Y.) has declared H.R. 1 in its current form as 'dead on arrival' in the upper chamber, and President Joe Biden has issued a veto threat. Yet, Republicans insist there is Democratic appetite for some of the provisions. House Republicans who spoke to DailyMail.com predict their Democratic colleagues could get behind permitting reform and legislation to boost mineral mining as Schumer privately tells senators he expects to move on allowing permitting reform at some point this year. The Lower Energy Costs Act, which Republicans have given symbolic importance in labeling HR 1, would accelerate the
federal permitting process for oil and gas pipelines and critical minerals mining and production.'"
Special K triples down. After all, for people like him, there's really only one option.
** Fox News ([link removed])
(3/27/23) reports: "Special Presidential Envoy for Climate John Kerry defended business and government leaders who travel to high-profile climate summits on gas-guzzling private jets. In an interview with Yahoo News, Kerry took issue with criticism levied against leaders who fly on private jets despite lofty climate ambitions, saying those individuals are "working harder" than most to fight climate change. He also echoed an argument defending private jet travel he has previously used, suggesting so-called carbon offsets justify such high-carbon-footprint travel. 'They offset — they buy offsets, they offset, and they are working harder than most people I know to be able to try to effect this transition,' he told the outlet late last week. Kerry noted that he has spoken about private jet travel and carbon offsets with attendees of the World Economic Forum, an annual summit in Davos, Switzerland, where climate change is usually a central topic. Attendees of the summit this year were criticized
after they took at least 150 private jet trips to regional airports near Davos in January. Greenpeace campaigner Klara Maria Schenk blasted officials for flying on 'ultra-polluting, socially inequitable private jets to discuss climate and inequality behind closed doors.'"
He's right, you know.
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Mayor Pete is out of his depth and a lot of Americans are going to be grounded this summer because of it.
** Wall Street Journal ([link removed])
(3/28/23) column: "It’s not a great sign when airline executives complain about a 'lack of engagement' from top Biden administration officials over what is shaping up to be another summer of air-travel turmoil. On the proposed JetBlue and Spirit Airlines merger, the Justice Department has apparently been little open to discussion—unlike Florida, which reached an agreement with the two carriers despite having the most to lose if the deal were really as anticompetitive as the federal government says. Airline operators also say they struggle to get the attention of top Biden officials on traffic delays and congestion. Only last week the Federal Aviation Administration came clean on staffing problems at its New York-area traffic center, routinely scrounging up 54% of the needed workers. The agency wants to move 30 controllers from Long Island to Philadelphia but has been stymied for more than a year by Sen. Chuck Schumer and organized labor. The effort, says Long Island’s Newsday, is
actually part of an on-again, off-again 'realignment' that has been stalled since 2007. The result: The FAA last week called on carriers to cut flights 10% this summer in the busy New York region to accommodate its controller shortage, virtually guaranteeing higher fares and fewer choices. Yes, the Biden administration is committing the antitrust sin it accuses JetBlue and Spirit of."
Energy Markets
WTI Crude Oil: ↑ $73.71
Natural Gas: ↑ $2.13
Gasoline: ↑ $3.48
Diesel: ↓ $4.23
Heating Oil: ↓ $264.32
Brent Crude Oil: ↑ $78.86
** US Rig Count ([link removed])
: ↑ 821
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