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DAILY ENERGY NEWS | 07/12/2023
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** A lesson in leadership.
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Bloomberg ([link removed](Bloomberg)%20%2D%2D%20Florida%20Republican%20Governor,campaign%20trail%20in%20battleground%20states.) (7/12/23) reports: "Florida Republican Governor and 2024 presidential contender Ron DeSantis quietly rejected hundreds of millions of dollars in federal energy funding, as the Biden administration touts the benefits of its marquee climate law on the campaign trail in battleground states. The funding, totaling about $377 million, included hundreds of millions of dollars for energy-efficiency rebates and electrification as part of the Inflation Reduction Act, as well as money from the bipartisan infrastructure legislation that became law in 2021. The Florida Department of Agriculture and Consumer Services’s Office of Energy notified the Energy Department last month it was “respectfully” withdrawing applications for the funds after DeSantis issued a line-item veto for a $5 million federal grant for
the state to set up programs to distribute the rebates. The move comes as US President Joe Biden and others have taken to the road to show how funding from the Inflation Reduction Act and other administration policies are helping Republican states, even as every single Republican voted against approving his signature climate law - which included some $374 billion in funding for clean-energy programs and tax credits. It also comes amid Republican backlash against 'woke' energy-efficiency standards, including from DeSantis himself who has proposed spending millions of dollars to enact tax credits for gas stoves."
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** "There is enough real-world evidence that shows how harmful a forced transition to renewables actually is—especially to manufacturing-heavy economies."
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– Jack Spencer, The Heritage Foundation ([link removed])

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Special K's gimmick is running thin, even on the other climatistas.

** Fox News ([link removed])
(7/10/23) reports: "British Energy Security and Net Zero Secretary Grant Shapps blasted calls Monday for a rapid shift from fossil fuels during meetings with U.S. Special Presidential Envoy for Climate John Kerry. Shapps' remarks came during a U.S.-U.K. climate summit in which both President Biden and King Charles III participated on Monday morning. They were made in response to Shell CEO Wael Sawan stating last week that the global energy system continues to "desperately need oil and gas" and that green energy development wasn't advanced enough to allow nations to abandon fossil fuels. 'There always has to be a transition … but it doesn't just happen overnight, in fact, it's idiotic to suggest you can,' Shapps said, per the BBC. 'If you tried to, you simply impoverish people and tell people they can no longer drive and they can no longer heat their homes.' However, Kerry remarked Monday that companies changing their climate commitments is 'moving in the wrong direction' in an interview
with BBC. He also called for accelerating the green transition."

Norway hits a gusher.

** Western Standard ([link removed])
(7/10/23) reports: "Oil is the gift that keeps on giving. For Norway, that is, not Canada. Even as this country takes steps to curtail internal oil and gas development, trading partners such as Norway keep on making big discoveries in its portion of the North Sea. On Monday, Norwegian oil producer DNO ASA announced its offshore Carmen prospect had tapped up to 230 million barrels of natural gas condensates — more than triple its initial estimates — making it one of the biggest discoveries on the Norwegian continental shelf since 2013. 'Norway is the gift that keeps on giving. Carmen proves there are important discoveries still to be made and Norway’s oldest oil company, DNO, will be part of this next chapter of the country’s oil and gas story,' DNO Executive Chairman Bijan Mossavar-Rahmani, said in a statement. It comes as the Norwegian government seeks to expand and accelerate the pace of oil exploration and development off its coasts, including the high Arctic, even as Canada sets targets
to wind down its own industry. Last month, Fornebu-based Aker BP announced a separate 650 million barrel discovery in the North Sea, even as the Norwegian Oil Ministry approved more than $25 billion in new oil projects. By comparison, Imperial Oil’s Karl oil sands mine cost about $12.9 billion."

Remember, Elon’s genius is producing products that government officials want and he can receive subsidies for.

** Telegraph ([link removed])
(7/11/23) reports: "Elon Musk’s Tesla is poised to gatecrash Britain’s energy market by selling electricity to households. Tesla is developing plans to register as an electricity provider with the industry regulator and launch a 'retail electricity product in the UK,' a job listing has revealed. The company is seeking to hire an experienced energy executive as its UK head of operations for Tesla Electric. It is thought that the service, which would be available to owners of the company’s Powerwall home battery, would sell electricity to UK households and buy back stored energy at times of peak demand. Powerwall batteries can be set to automatically charge up overnight when energy is cheap and then release this energy for use during the day, when buying direct from the grid is more expensive."

Energy Markets


WTI Crude Oil: ↑ $75.62
Natural Gas: ↓ $2.65
Gasoline: ↑ $3.54

Diesel: ↑ $3.84
Heating Oil: ↑ $261.49
Brent Crude Oil: ↑ $80.06
** US Rig Count ([link removed])
: ↑ 712



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