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DAILY ENERGY NEWS | 07/19/2023
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** If you thought the COVID power grabs were bad, imagine what they would be willing to do to "stop the spread" of a climate emergency.
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Fox News ([link removed]) (7/18/23) reports: "Rep. Ilhan Omar, D-Minn., was roasted online after she tweeted Monday evening that the Earth broke a record for hottest day in 120,000 years. Omar, who used the tweet to call for a 'climate emergency' declaration, added that the record for hottest day ever was broken on three separate days. However, Omar's tweet was met with skepticism and was tagged with a Twitter community note casting doubt on the claim. 'What was the temperature of the globe at 12pm GMT on July 1st, 116,539 BC?' former White House adviser Stephen Miller responded. 'Is this satire?' added Republican Utah Senate candidate Trent Staggs, the current mayor of Riverton, Utah. Earlier this month, local Florida outlet WFLA-TV reported that 'Earth broke a record for its hottest day in 120,000 years' on concurrent days, citing the Climate Reanalyzer dashboard maintained by the University of Maine's
Climate Change Institute. The tool compiles weather data stretching back to 1979 and comes with a stark warning that the data 'should NOT be taken as 'official' observational records.' While President Biden has focused much of his presidency on combating climate change, he has yet to formally declare it a national emergency. A climate emergency declaration would enable Biden to bypass Congress and take a number of regulatory steps not normally authorized to the White House. In July 2022, after reports that the president would issue such a declaration, he opted instead to issue executive orders addressing the 'climate crisis,' but he stopped short of an emergency declaration."
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** "When altruist entrepreneurs go from billion dollar venture capital darlings to bankruptcy or jail, it causes financial harm, but mainly to investors who prioritized altruistic hype over due diligence. The problem for taxpayers is that this same animus of prioritizing belief and “ambition” over facts, feasibility, and costs, is a defining characteristic of President Biden’s regulatory actions. And the billion-dollar consequences fall squarely in the laps of hard-working Americans."
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– Mandy Gunasekara, Independent Women's Forum ([link removed])

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If "out of touch" was a person.

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Someone should tell Special K that China is building 2 coal plants a week.

** International Business Times ([link removed])
(7/18/23) column: "China is known for exporting manufacturing products to the world. It may soon develop the reputation of exporting something else, producer deflation--the falling of wholesale prices. That's according to a string of data showing an accelerated decline in the Producer Price Index (PPI), a measure of what China's factories charge to their clients. In June 2023, for instance, China's PPI dropped at an annual rate of 5.4%, following a 4.6% fall in May and above market forecasts of a 5.0% decline. The June decline was the ninth consecutive month of PPI drop, confirming that China's economy is in a deflationary spiral at the wholesale level...China's deflation will soon be exported to the rest of the world, as the country is the world's largest factory, making it a price-maker...It's a bad thing because China's lower manufacturing prices, state-of-the-art logistics, and transportation costs will put competitive pressure on producers of similar products. Already, some European
manufacturers are feeling the pressure. Thessaloniki, Greece-based Dion SA, the largest manufacturer of recycled plastics, is one of them. 'China is turning into a formidable competitor in the plastics materials,' Sakis Dionisopoulos, President of the company, told IBT. 'They have the scale, the low electricity prices, the logistics, and they face low transportation costs thanks to the falling oil prices. They ship massive quantities of products to Malta and then distribute them throughout Europe, including the port of Volos in Greece.'"

Industrial competitiveness is under pressure in Europe. Everything is going according to plan.

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Energy Markets


WTI Crude Oil: ↑ $76.05
Natural Gas: ↑ $2.62
Gasoline: ↑ $3.56

Diesel: ↑ $3.86
Heating Oil: ↑ $264.65
Brent Crude Oil: ↑ $80.14
** US Rig Count ([link removed])
: ↓ 707



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