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DAILY ENERGY NEWS | 04/11/2023
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** Tomorrow EPA will propose a regulation that essentially mandates EVs. Does the Biden administration hate democracy? Remember that a recent Reuters poll found that only 1/3 of Americans would consider buying an EV.
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Reuters ([link removed]) (3/21/23) reports: "Just over one-third of Americans would consider buying an electric vehicle for their next model, a new Reuters/Ipsos poll found. The seven-day poll completed on Monday found 34% of all respondents would consider an EV, while 31% said no. Among Democrats 50% said they would consider an EV, while 26% of Republicans and 27% of independents said they would consider. There are now more than 80 EV models for sale in the United States. EVs represented nearly 6% of all U.S. sales in 2022."
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** "Ever-tighter regulation of PM2.5 is a game designed to increase the political power of the EPA and its allies in the White House, in Congress, and among ideological, geographic, and industrial interest groups. It is deeply perverse in terms of its potential to constrain severely economic development in numerous regions of the country. But here we are."
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–Benjamin Zycher, The American Enterprise Institute ([link removed])
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When the CEOs of pharmaceutical companies are calling climate change the biggest health crisis of our time, as opposed to things like fentanyl, they have lost the plot.
** The Guardian ([link removed])
(4/10/23) column: "The latest Intergovernmental Panel on Climate Change report is a grim, yet unsurprising, reminder of the catastrophic effect global heating is having on our planet. The message from leading climate scientists is clear: action is needed now. Not tomorrow, not next year, not by the end of the decade. Even drastic carbon reduction today that limits temperature increases to the 1.5C agreed in Paris will alter the world we live in for ever. The IPCC concludes that every fraction of a degree more will edge us towards tipping points that will leave deep scars on our planet. While much has been said about the damage to weather patterns, crop yields and coral reefs, less well understood is the effect a hotter world has on our health. The reality is that the climate crisis is the biggest health crisis of our time, bigger even than Covid-19."
What happens when the wick runs out?
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It’s weird how the G7 doesn’t talk about the cost of their silly ideas like phasing out coal by 2030. The costs for the little guy are not considered.
** Bloomberg ([link removed])
(4/10/23) reports: "Group of Seven nations are butting heads over the timeline for phasing out coal-fired power ahead of next weekend’s summit of top energy and environmental ministers. Draft communique documents circulated before negotiations resume Tuesday and seen by Bloomberg News show the European Union, the US and Japan expressed reservations about a UK proposal to set a 2030 deadline for phasing out unabated domestic coal power generation. The language, which won France’s backing, also would have recognized the need to “cancel the pipeline of new global coal power generation projects,” and therefore have the G-7 countries committing to end construction of new domestic coal-fired power plants and work with international partners to end similar efforts globally. While Japan, the US and EU indicated reservations, Germany offered alternative language that would have emphasized the goal of phasing out domestic unabated coal power generation 'ideally by 2030' or 'in the 2030s.'
Japan, which hosts the G-7 this year, has proposed reaffirming the commitment in last year’s G-7 leaders’ statement 'to achieving a fully or predominantly decarbonized power sector by 2035.'"
Energy Markets
WTI Crude Oil: ↑ $80.17
Natural Gas: ↑ $2.18
Gasoline: ↑ $3.60
Diesel: ↑ $4.19
Heating Oil: ↑ $265.66
Brent Crude Oil: ↑ $84.46
** US Rig Count ([link removed])
: ↓ 803
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