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DAILY ENERGY NEWS | 03/31/2023

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New baseball, the same as the old baseball? The latest episode of The Unregulated Podcast is now streaming on our website, or wherever you listen.

"If California’s government squeezes refiner margins, refiners would almost certainly respond by reducing output. If gasoline stations are free to raise prices then, ironically, Newsom’s controls will make gasoline prices higher than otherwise."

– David R. Henderson
Stanford University’s Hoover Institution

Big first step. Time for the Senate to step up and vote on it.

Fox News (3/30/23) reports: "A coalition of 19 conservative advocacy groups celebrated Thursday after the House passed the Lower Energy Costs Act and called on the Senate to prioritize advancing the legislation. The groups, led by Americans for Prosperity, characterized the bill as "landmark legislation," arguing it would counter President Biden's climate agenda and curb historic inflation. The legislation includes provisions to boost domestic energy production, shore up critical mineral supply chains and reform existing permitting laws...In addition to Americans for Prosperity, Heritage Action, FreedomWorks, Advancing American Freedom, National Taxpayers Union and the American Energy Alliance were part of the coalition cheering the vote. Among its key measures, the legislation would eliminate new taxes on natural gas infrastructure, ensure regular oil and gas leasing on federal lands and waters, eliminate permitting hurdles to pipeline development, streamline duplicative regulations related to natural gas production and bolster the ability for mining companies to establish a stronger U.S. critical mineral supply chain."

In case you needed confirmation that "net-zero" is for zeros:

Biden's right! His climate spending is making an economy boom! Just not America's...

Wall Street Journal (3/31/23) reports: "A gauge of activity in China’s services sector reached its highest level in more than a decade in March, a sign that Chinese consumers are heading back to stores and restaurants, powering an economic recovery following the end of almost three years of strict Covid-19 controls. The reading represents a promising signal for the global economy, which depends on Chinese consumers to prop up growth this year as their counterparts in the U.S. and Europe battle rising interest rates, high inflation and the prospect of a squeeze on lending following turmoil in the banking sector...The government has this year set a growth target of around 5%, which most economists expect it to hit, especially when compared with the weakness in growth last year. Chinese Premier Li Qiang said at an economic forum Thursday that the economy was showing “a positive recovery trend,” which the government will seek to sustain. "

If you oppose a carbon tax, take a stand and contact us.

Tom Pyle, American Energy Alliance

Myron Ebell, Competitive Enterprise Institute

Phil Kerpen, American Commitment

Andrew Quinlan, Center for Freedom and Prosperity

Grover Norquist, Americans for Tax Reform

George Landrith, Frontiers of Freedom

Thomas A. Schatz, Citizens Against Government Waste

Richard Manning, Americans for Limited Government

Adam Brandon, FreedomWorks

Craig Richardson, E&E Legal

Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Annette Thompson Meeks, Freedom Foundation of Minnesota
Isaac Orr, Center of the American Experiment
David T. Stevenson & Clint Laird, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America

Energy Markets

WTI Crude Oil: ↑ $75.11
Natural Gas: ↑ $2.19
Gasoline: ↑ $3.50

Diesel: ↑ $4.22
Heating Oil: ↑ $263.11
Brent Crude Oil: ↑ $79.54
US Rig Count: ↓ 808

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