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DAILY ENERGY NEWS | 06/08/2023

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Why are they running? Why the gas ban vote? Why is Ford making EVs? Find out on the latest episode of The Unregulated Podcast. Now streaming on our website, or wherever you listen.

"Any broad assessment of the alleged costs of using coal, oil, and gas must also be paired with the immense benefits those fuels have brought all of society. When that is done, the only logical conclusion is that these fuels have made the world a better place for all of us, and any contention otherwise is about as valuable as a solar panel at midnight."

– Jack Spencer, Heritage Foundation

"Saving Democracy" continues to mean ensuring unelected NGO operatives call the shots at the highest levels of government.

Daily Caller (6/5/23) reports: "A conservative watchdog organization is sounding the alarm over a top EPA official’s relationship with Georgetown University Law Center, which has sought to influence EPA policy on multiple occasions, documents show. EPA Deputy General Counsel for Nationwide Resource Protection Susannah Weaver was given approval by the agency to sit on the GULC board of visitors, as long as she does not identify herself with the agency and abides by ethical standards, according to an Aug. 2021 memo provided to the Daily Caller by Protect the Public’s Trust (PPT), a conservative watchdog group. PPT filed a Freedom of Information Act (FOIA) request in order to obtain internal documents from the EPA. 'This authorization is really one that makes people shake their heads. It would be one thing if this were an official who was raising money for her daughter’s Girl Scout troop. But Ms. Weaver is on the board and able to fundraise for an organization whose activism frequently involves issues EPA is dealing with, at times by engaging directly with the agency – as FOIA records we have obtained show,' PPT Director Michael Chamberlain told the Caller. "

Less than two weeks left!

Hot Air (6/5/23) article: "We’re all done for. Bet you forgot. I’m trying to decide how to handle it if it goes badly for Greta’s side – you know. Like, we’re all still here? I’d use 'The Great Disappointment,' but The Millerites already stole that one. At least I have a couple weeks to think of something snappy. In the meantime, how we lookin’? Contrary to the hyperbole on the evening broadcast and the Weather Channel’s penchant for naming every breeze that goes by, we are not in bad shape at all."

Reasonable people look at what is happening in South Africa and Germany and ask "how can we stop this?" Climate zealots ask "how can we spread this?"

Oil Price (6/5/23) reports: "The Glasgow Financial Alliance for Net Zero’s (GFANZ), the world’s largest financial sector grouping to support net zero, proposed on Monday the development of voluntary guidance and practical steps for financial institutions to support the financing of a managed phase-out of coal-fired power plants in Asia. GFANZ’s Asia Pacific chapter opened consultation on guidance for financing the early retirement of coal-fired power plants in Asia-Pacific as part of a just net-zero transition. Despite the fact that coal power usage globally likely peaked last year, rising energy demand in Asia will increase coal-fired power generation for several more years, the alliance said. 'The guidance to support the financing of the early retirement of coal-fired power plants in Asia-Pacific seeks to provide financial institutions with practical guidance to accelerate their efforts and help them meet their commitments to an inclusive and just transition to net-zero,' said Ravi Menon, Managing Director of the Monetary Authority of Singapore and Chair of the GFANZ APAC Advisory Board. According to Mary Schapiro, Vice Chair, GFANZ,"

If your industry can't survive without the government forcing people to buy your product, it might be time to call it quits!

Bloomberg (6/8/23) reports: "In a last ditch effort, biofuel and agriculture companies tell President Joe Biden that unless proposed blending mandates for biomass-based diesel are raised the industry will be 'severely' undermined. Further, if the US Environmental Protection Agency, which is due to issue final national quotas for 2023-25 by June 14, doesn’t increase the amounts proposed in December 'it would allow no market space at all for sustainable aviation fuel,' according to a letter delivered to Biden on Thursday from Clean Fuels Alliance America
NOTE: Nearly 80 groups and companies, including Bayer, signed onto the letter NOTE: The push comes amid opposition to EPA’s proposal to raise biomass-based diesel by ~65 million gallons on average for each of the next three years; the industry notes that US production of biodiesel and renewable diesel grew by 500 million gallons last year"

Energy Markets

WTI Crude Oil: ↓ $71.39
Natural Gas: ↓ $2.30
Gasoline: ↑ $3.56

Diesel: ↑ 3.91
Heating Oil: ↓ $237.15
Brent Crude Oil: ↓ $75.96
US Rig Count: ↑ 746

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