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DAILY ENERGY NEWS | 05/04/2023
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** DFR slays Senator "Whites-only" Whitehouse.
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New York Post ([link removed]) ([link removed]) (5/4/23) reports: "Heritage Foundation economist Diana Furchtgott-Roth took a dig at Sen. Sheldon Whitehouse’s (D-R.I.) private beach club membership during a hearing on Capitol Hill Wednesday, alluding to allegations that all the members of the ultra-exclusive Rhode Island club are white. The think tank scholar made the comment during a Senate Budget Committee hearing on fossil fuels, after Whitehouse – the chairman of the panel – attacked Furchtgott-Roth’s credibility over her ties to the fossil fuel industry. 'I don’t have the benefit of being able to rely on a family fortune made in the Minnesota gas business, or having my spouse’s family fortune come from United Gas,' Furchtgott-Roth said while
being questioned by Whitehouse, referencing the senator’s own familial ties to the fossil fuel industry. 'And The Heritage Foundation is a club that anyone can join, not just white people. During 2021, it had hundreds of thousands of individual, foundation and corporate supporters representing every state in the United States,' Furchtgott-Roth added. The remark was a shot at scrutiny Whitehouse has faced over his decades-long membership in the allegedly all-white Newport-based Bailey’s Beach Club."
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** "Climate change shouldn’t be used as an excuse to assert such sweeping power over our lives. At the very least, our elected representatives in Congress should make such big decisions, not federal bureaucrats."
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– Daren Bakst, Competitive Enterprise Institute ([link removed])
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A pretty quick turnaround from "No one is banning gas stoves" to "This is how you transition."
** Wall Street Journal ([link removed])
(5/3/23) reports: "New York is set to become the first state in the U.S. to ban gas stoves in new homes and apartments. The Democratic-controlled state Legislature passed a bill late Tuesday that prohibits natural-gas and other fossil-fuel hookups in new residential buildings and some new commercial buildings. Gov. Kathy Hochul, a Democrat, is expected to approve the measure, which was included in the state’s budget. The measure aims to help the state meet targets for reducing greenhouse-gas emissions. It would prohibit other gas-powered appliances such as water heaters, furnaces and clothes dryers in new residential buildings, in addition to banning gas stoves in new homes...The future of gas stoves became a flashpoint in January after the publication of a news report that said the U.S. Consumer Product Safety Commission was considering a ban because of indoor-air health concerns. Some Republicans objected, saying it would be overly restrictive and costly. The White House has said
President Biden doesn’t support a gas-stove ban...New Yorkers for Affordable Energy, a coalition of labor unions, business groups and gas companies that lobbied against the measure, has said banning natural gas would hurt homeowners by raising energy costs. Dozens of municipalities, including New York City, have banned natural-gas hookups for new construction projects, according to the Institute for Energy Research, a group that supports the use of natural gas. More than 20 states have laws that forbid cities from enacting their own bans."
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They can't tell the truth because the people would revolt.
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EVs are depreciating twice as fast as conventional cars. Guess they'll need to triple the subsidies if we want to hit our targets!
** Telegraph ([link removed])
(5/3/23) reports: "Electric car owners are losing thousands of pounds a year to depreciation, with leading models losing value twice as fast as comparable petrol vehicles. Early adopters of electric vehicles (EVs) have seen prices plummet by 39pc between 2020 and 2023, while petrol car prices fell by 30pc in the same period, according to used car comparison website Choose My Car. Drivers have been pushed towards electric cars by a string of government initiatives, which are intended to help the country become “net zero” by 2050. However, drivers going green risk losing thousands of pounds more than those who stick with petrol. Some popular electric models have fallen in price at twice the rate of petrol cars. A driver who bought an electric BMW i3 in 2020 would have paid £39,000 and could sell the car for £13,900 today, a depreciation of 64pc. However the petrol equivalent has maintained much more of its original value. A new petrol-powered BMW 3 series cost £32,000 on average three years
ago but would sell for £22,360 now – a drop of just 30pc."
Energy Markets
WTI Crude Oil: ↓ $68.57
Natural Gas: ↓ $2.15
Gasoline: ↓ $3.57
Diesel: ↓ $4.09
Heating Oil: ↑ $223.24
Brent Crude Oil: ↑ $72.59
** US Rig Count ([link removed])
: ↓ 776
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