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DAILY ENERGY NEWS | 04/13/2023
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** I guess the Administrator is perfectly fine with increasing our reliance on China to run our economy and our way of life. Oh, and BTW, we haven't "relied" on foreign oil for years.

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Bloomberg ([link removed]) (4/12/23) reports: "The Biden administration’s plan to stifle auto pollution and spur electric vehicles is expected to shrink US oil demand by an estimated 17 billion barrels through 2055.
'We’re strengthening our energy security, we’re reducing our reliance on foreign oil,' and 'we’re reducing our reliance on fossil fuels,' Environmental Protection Agency Administrator Michael Regan said Wednesday. The EPA estimated that its proposal, slated to be finalized next year, would curb US oil imports by as much as 16 billion barrels through 2055. And though the projected demand reductions would escalate over time, they translate to a 1.6 million barrel per day decline between 2027 and 2055 — roughly 10.2% from current levels, according to Bloomberg calculations. While the proposal is a potential boon for EV automakers, the expected reduction in liquid fuel demand comes at the expense of crude refiners as well as biodiesel and ethanol producers."
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** "At best, EVs are a lateral technology. And, as far as practicality, cost, and comfort go, they’re a regression. If EVs are more efficient and save us money, as administration officials claim, manufacturers would not have to be compelled and bribed into producing them."
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– David Harsanyi, The Federalist ([link removed])

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Climate has become the political cudgel to remake entire industries and coerce Americans to do what progressives want. They don’t believe Americans are capable of making their own choices. Wonder what that says about their true feelings about democracy?

** Wall Street Journal ([link removed])
(4/12/23) editorial: "The U.S. auto industry is nominally still privately owned, but it is slowly becoming a de facto state-directed utility. That’s the meaning of the Environmental Protection Agency’s proposed new vehicle-emissions standards Wednesday that will force-feed the production of electric vehicles, whether or not consumers want them. The EPA is using its authority under the Clean Air Act to regulate tailpipe pollutants. But make no mistake this isn’t about clean air. This is about forcing auto makers to produce more EVs that consumers will have no choice but to buy since there will be few gas-powered vehicles left. The EPA lacks the legal authority to mandate EVs, but it will do so indirectly by setting CO2 emissions standards for 2027 through 2032. The standards are so strict that auto makers must electrify their fleets to meet them. Under the proposed rules, EVs would account for about two-thirds of light-duty vehicle sales in 2032, up from a mere 6% or so last year."

Fewer cars on the road is the goal, not a glitch. And guess who it hurts the most...

** ([link removed])

In the USA, under Biden, it's CAFE: Cars Are For Elites.

In China, under Xi, it's CAFE: Coal As Future Energy.
** Reuters ([link removed])
(4/12/23) reports: "China plans to accelerate the approval of new coal mines and fast track the construction of already approved mines to support its baseload energy supply during demand spikes, Liang Changxin, an official from the National Energy Administration (NEA), said on Wednesday. Peak energy demand is expected to exceed 1.36 billion kilowatts this summer, representing a 'significant increase on last year,' Liang added. Some provinces could face power cuts this summer as a result, the NEA official warned. China's energy consumption typically spikes in the summer months due to household demand for air conditioning. This, combined with a related slump in power from hydro sources due to low rainfall, led to a wave of blackouts across southwest China last year. Officials have repeatedly stressed the role of coal as a 'ballast stone' in the energy mix amid a national energy security drive, even as the country attempts to transition toward a greener, renewables-led power system."

Energy Markets


WTI Crude Oil: ↓ $82.79
Natural Gas: ↓ $2.02
Gasoline: ↑ $3.64

Diesel: ↑ $4.20
Heating Oil: ↓ $267.72
Brent Crude Oil: ↓ $86.76
** US Rig Count ([link removed])
: ↓ 804



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