Smart Voters

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DAILY ENERGY NEWS | 06/02/2023

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Voters prefer energy affordability and choice over the climate agenda and they certainly don't want to pay for it.

AEA (6/1/23) release: "The American Energy Alliance and the Committee to Unleash Prosperity recently sponsored a nationwide survey of 1000 likely voters (3.1 percent margin of error) conducted by MWR Strategies in the first two weeks of May. The survey can be found here (slide deck) and here (written results). AEA President Thomas Pyle issued the following statement: 'The results of our new survey make it clear that voters prefer energy affordability and choice over government efforts to address climate change and they overwhelmingly reject the associated costs. Despite the narrative driven by the legacy media, there has been little change in voter sentiment with respect to energy and climate change. If anything, voters have even less trust in government when it comes to the types of energy we use or the vehicles we drive.' The survey asked about a tax on carbon dioxide. This year, by a margin of 44 percentage points (65-21). Last year, it was opposed by a margin of 40 points (63-23). The year before, it was opposed by 34 points (62-38). We asked about banning gasoline-powered vehicles. This year, it was opposed by a margin of 67 points (82-15). Last year, it was opposed by a margin of 63 points (76-13). The year before, it was opposed by a margin of 66 points (75-9). In short, there has been a lot of durability of sentiment on this issue, and where there has been change, it has run counter to the policy preferences of the left."

"The electric grid we have today is largely the electric grid we are going to have. We should not be spending hundreds of billions of dollars to build a grid designed to accommodate the low power density of weather-dependent renewables like wind and solar."

– Robert Bryce, Substack

A tale of two headlines...

Reuters: Exxon, Chevron shareholders soundly reject climate-related petitions

The New York Times: Climate Shareholder Activists Rethink Their Fight Amid Setbacks 🤣🤣🤣

Reuters (5/31/23) reports: "Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) shareholders on Wednesday overwhelmingly rejected calls for stronger measures to mitigate climate change, dismissing more than a dozen climate-related proposals at their annual meetings. The results supported the two largest U.S. oil producers in resisting pressure from investor groups calling for the pair to follow European rivals in accepting tougher emissions reductions goals. Despite efforts by Shell, BP and TotalEnergies, protesters still stormed their shareholder meetings this year, seeking a faster shift away from fossil fuels. Their demands similarly failed. Exxon and Chevron's meetings were online, avoiding similar protests. 'There is no single oil major that really wants to transition,' said Mark van Baal, founder of activist group Follow This, which suffered resounding losses at several meetings. 'They all want to hang on to fossil fuels as long as possible.' His group, which represents some 9,500 shareholders in oil and gas companies, had requested Exxon set medium-term goals for reducing emissions from fuels burned by customers - or Scope 3 targets. That resolution received less than half of the support 11% of vote cast compared with 27% from the group's emission reduction proposal last year...Exxon holders rejected all 12 shareholder proposals, the majority of which dealt with climate-related issues. None received a majority of votes cast that would signal a win, according to early results."

Here’s another example of climate change policies killing jobs, not actual climate change.

BBC (6/1/23) reports: "Livestock farms need support to adapt to climate change targets or risk big job losses, government advisers have warned. Agriculture accounted for 14% of Welsh emissions in 2019 - two-thirds of which was methane from livestock and manure. A new report said livestock farms needed to 'redirect' as society decarbonizes to meet climate goals. The Welsh government said it was taking action to ensure a 'just transition' to net zero.' Wales, like the UK, has a legally binding target to reach net zero by 2050 which means dramatically cutting greenhouse gas emissions. But the body which advises ministers on climate change predicted these changes could have 'significant impacts' on the farming workforce. Between 7,000 and 42,000 jobs could be lost across the UK unless livestock farms adapt the nature of their work, the Climate Change Committee (CCC) estimated."

When you give anti-humans political power, you get anti-human results.

When pigs fly...

Bloomberg (5/31/23) reports: "Europe’s airlines are quickly tying up the supply of available animal fats to produce biofuels, creating unintended ecological knock-on hazards that include a surge in palm-oil production, according to a new report. A flight from Paris to New York powered solely by waste biofuels such as animal fats requires some 8,800 dead pigs, according to the sustainable transportation advocacy group Transport & Environment, which commissioned the research. The study, carried out by consulting firm Cerulogy, found that European Union subsidies meant to encourage the use of rendered fats for road and air travel have doubled demand for animal-fat biodiesel over a decade. With supplies limited, that’s driven up prices for other users of rendered fats in areas such as soap, cosmetics and pet-food manufacturing. Palm oil is the most likely alternative — creating a new environmental fallout because the vast plantations have led to deforestation in countries like Indonesia. 'For years we’ve been burning animal fats in cars without drivers knowing,' said Barbara Smailagic, biofuels specialist at T&E, in an emailed statement. 'Now they will be fueling your next flight. But that can’t be sustained without depriving other sectors.'"

Energy Markets

WTI Crude Oil: ↑ $71.73
Natural Gas: ↑ $2.19
Gasoline: ↓ $3.56

Diesel: ↓ $3.94
Heating Oil: ↑ $236.00
Brent Crude Oil: ↑ $75.92
US Rig Count: ↓ 735

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