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DAILY ENERGY NEWS | 05/18/2023
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** Unlike your family, left-wing celebrities get exceptions to gas bans. After all, it's the only way to cook for people like them.
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Bloomberg ([link removed]) (5/17/23) reports: "Celebrity chef Jose Andres was given an exception to use gas appliances in his new Palo Alto restaurant, illustrating the growing push back against gas-stove bans in the US. The city announced it reached a deal with Simon Property Group, which owns Stanford Shopping Center where Andres plans to open a new Zaytinya, a eastern Mediterranean restaurant that already has popular locations in Washington, DC and New York City. Officials in Palo Alto, about 30 miles south of San Francisco, initially told SPG that the restaurant would need to comply with a law that took effect at the start of the year requiring new buildings to be fully electric. The city on Tuesday called its decision a 'unique situation' since Andres’ project got underway in 2019, before the new building code went into effect. Cities across the country are grappling with the
move away from burning fossil fuels, which has been linked to climate concerns and health issues like respiratory disease. Already, cities from New York to San Francisco have enacted restrictions on gas appliances in new construction in recent years to help tackle the climate crisis. New York just passed the first statewide ban on natural gas and fossil fuels in most new buildings and homes starting in 2026 — with exceptions for larger-scale developments such restaurants and hospitals. Suppliers of the fuel are fighting back with a lobbying push, and industry officials argue that banning gas stoves will drive up costs for home owners and restaurants and have little benefit for the environment."
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** "Owing to hypocritical, bureaucratic, executive-branch mission creep, America will effectively depend on energy from China, rather than using its own...resources."
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– Diana Furchtgott-Roth, The Heritage Foundation ([link removed])
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This isn't happening by accident. Team Biden has made it clear, in word and deed, that their primary policy goal is to destroy America's economic potential.
** Rig Zone ([link removed])
(5/17/23) reports: "Economic slowdown in the U.S. will impact oil and gas consumption and weigh on benchmark oil and gas prices, adversely impacting upstream activity, Dominika Rzechorzek, a Senior Oil and Gas Analyst at BMI, told Rigzone. Rzechorzek said the company currently expects the U.S. to experience a modest recession over the second half (H2) of 2023 but noted that the annual real GDP growth rate is set at one percent year on year 'given reasonably solid economic activity over H1 2023.'...Dan Kish, a distinguished senior fellow at the Institute for Energy Research (IER), told Rigzone that a 2023 recession would be bad for the oil and gas industry 'and, obviously, for Americans in general.' 'Coming at a time when over 125 Biden administration anti-energy actions are beginning to kick in, it will be harder to produce in the U.S. than in other countries,' Kish added. 'It would also reset the table for American energy dominance, because additional taxes and indirect taxes through
federal regulations would make it harder for U.S. producers to turn things around if a recovery were to come,' he continued. 'With the world already undersupplied with energy, it would allow countries for whom oil and gas is important to their governments to gain market share. It took a long period for the U.S. to reach its place as the world’s premier producer. It would not take so long to destroy that,' Kish went on to state. Rigzone has asked the U.S. Department of Energy (DOE) for comment on Rzechorzek and Kish’s statements. At the time of writing, the DOE has not yet responded to Rigzone’s request."
First climate, then vaccines, and now the FBI. Notice a pattern...
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A problem is that renewable energy isn’t always the profitable kind.
** Bloomberg ([link removed])
(5/18/23) reports: "Shell Plc executives are telling their renewable power business that it needs to become more profitable, not just deliver lower carbon emissions, and pull back from the less successful elements of its clean-energy strategy. That was the message from Steve Hill, executive vice president of Shell Energy, at an internal town hall for his team on Wednesday, according to comments from the meeting reviewed by Bloomberg. It’s part of a revamped strategy from new Chief Executive Officer Wael Sawan that will be fully revealed in June, as he seeks to improve Shell’s performance and eliminate businesses that aren’t producing adequate returns. Hill’s Shell Energy unit includes the renewable power business. While the company’s efforts in green electricity have been an exercise in learning and experimenting to find where it can be successful, now they need to show results, he said at the meeting. 'Delivery will be the mandate of the organization going forward,' Hill told the
gathering. 'The things we’ve been less successful with, we need to scale back or stop.' A spokesman for Shell declined to comment."
Energy Markets
WTI Crude Oil: ↓ $72.13
Natural Gas: ↓ $2.39
Gasoline: ↑ $3.53
Diesel: ↑ $4.01
Heating Oil: ↓ $238.11
Brent Crude Oil: ↓ $76.22
** US Rig Count ([link removed])
: ↓ 752
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