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DAILY ENERGY NEWS | 06/23/2023

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Why are we bailing out Ford's EV division?

Wall Street Journal (6/22/23) reports: "A Ford Motor joint venture is set to get a record $9.2 billion loan from the Department of Energy to finance battery plants in Tennessee and Kentucky critical for the auto maker’s push into electric vehicles. The commitment adds to a clean-energy spending spree that has been accelerated by last year’s climate law known as the Inflation Reduction Act, which gave the Energy Department’s Loan Programs Office more firepower to dole out money to critical infrastructure projects."

"An unbiased, thorough review of climate science reveals that warming is likely to remain mild and manageable while our resilience to all manner of challenges, climate-related or otherwise, continues to improve. Humanity wasn’t supposed to survive 2000, 2009, 2012, or 2020, either. Yet here we are, enjoying the benefits of longer, healthier, more comfortable lives than ever before."

– J ason Isaac, Life:Powered

Why is the "most union friendly president in history" doling out record amounts of cash to companies that are laying American workers off?

Wall Street Journal (6/22/23) reports: "Ford Motor is preparing to initiate another round of layoffs in the coming weeks, according to people familiar with the matter, the latest in a broader effort by the automaker to streamline operations and reduce costs. The layoffs, expected to mostly include U.S. salaried workers, would be one of several that Ford has initiated in less than a year and could be announced as early as next week, some of the people said. The number of people Ford plans to lay off in this latest round couldn’t be learned. The cuts are expected to affect employees on Ford’s gas-engine side of the business, as well as its electric-vehicle and software division, the people said."

Shouldn't a nominee for the NRC be supportive of nuclear power?

Washington Times (6/22/23) editorial: "The idea of a transition away from oil, natural gas and coal, as well as the fanciful notion that the electricity system will be net-zero greenhouse gas emissions by 2050, will almost certainly require expanded reliance on nuclear energy. That is unacceptable to many environmentalists who grew up in the anti-nuclear movement. The story is the same with respect to mining. If the world is going to build electric vehicles, we are going to need lots of minerals — 40 times as much lithium we currently mine, and 20 times as much cobalt. Yet the administration remains adamantly opposed to expanding mining in the United States. Thomas Pyle, president of the American Energy Alliance, has said that a threshold question for any nominee to the NRC should be whether they generally support nuclear power as an important part of our national energy portfolio.”

Why can't politicians admit they want to raise energy taxes?

Washington Times (6/22/23) op-ed: "A few days ago, four Republican senators joined four Democrats and Sen. Angus King, Maine independent, to introduce legislation that would set the federal government down the path of imposing a tax on carbon dioxide — which as a practical matter means a tax on everything made, moved, consumed, heated or cooled. In response, The Washington Times correctly noted that the proposed legislation would require the Biden administration to determine the amount of energy used and carbon dioxide emitted by various countries in the production of everything that makes modern life possible, such as aluminum, iron, steel, plastic, crude oil and so on. That determination would be used to impose tariffs on those countries who — in the view of the Biden administration — emit too much carbon dioxide while creating those products."

If, unlike Senator Kevin Cramer, you oppose a carbon tax, then take a stand and contact us.

Tom Pyle, American Energy Alliance

Myron Ebell, Competitive Enterprise Institute

Phil Kerpen, American Commitment

Andrew Quinlan, Center for Freedom and Prosperity

Grover Norquist, Americans for Tax Reform

George Landrith, Frontiers of Freedom

Thomas Schatz, Citizens Against Government Waste

Richard Manning, Americans for Limited Government

Adam Brandon, FreedomWorks

Craig Richardson, E&E Legal

Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Annette Meeks, Freedom Foundation of Minnesota
Isaac Orr, Center of the American Experiment
David T. Stevenson, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America
Jon Sanders, John Locke Foundation

Energy Markets

WTI Crude Oil: ↓ $68.42
Natural Gas: ↓ $2.58
Gasoline: ↑ $3.58

Diesel: ↑ $3.90
Heating Oil: ↓ $240.88
Brent Crude Oil: ↓ $73.08
US Rig Count: ↓ 723

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