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DAILY ENERGY NEWS | 07/28/2023
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** The White House held a "methane summit" without inviting any oil & gas companies. Lucky for us Kathleen Sgamma can fill us in what the White House doesn't want to hear.
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** "The world has changed. [...] The energy transition has an impact on the energy prices, and there is no way to make the transition in Europe without an even higher price."
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– Patrick Pouyanné, TotalEnergies ([link removed])

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Ford lost nearly $73k for every EV they sold in Q2. The market is not dictating the EV trend, politicians and their cronies are.

** Substack ([link removed])
(7/28/23) article: "A few weeks ago, Mark Fields, the former CEO of Ford Motor Company, during an interview on CNBC, said that the "moment of truth" for electric vehicles was arriving. Fields, who headed the Dearborn-based automaker from 2014 to 2017, said that 'it's harder for consumers to charge your vehicle than to fill up a tank of gas right now, and that's weighing heavily.' On Thursday afternoon, Fields’s prediction was confirmed when Ford reported a $1.08 billion operating loss on its EV business during the second quarter. During that span, Ford sold 14,843 EVs. That means Ford lost about $72,762 for each EV it sold. That’s an even bigger loss than what the company saw during the first quarter and they portend even bigger losses ahead. Ford lost $2.1 billion in its EV business in 2022...During the second quarter, the company’s per-unit EV losses jumped by another $6,316. But the bad news at Ford isn’t limited to the fact that it’s losing scandalous amounts of money on its EVs. Ford
is also predicting even bigger losses ahead and its EV sales are falling at the very moment the company is spending $50 billion to dramatically expand its EV production.Why should you care? Ford’s getting a big chunk of that $50 billion from taxpayers."

The world is boiling, we don't have time for fact-checks.

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South Africa has had terrible rolling blackout, in part because they shut down a 1GW coal plant to get less than 400 MW in renewables from rich countries.

** MSN ([link removed])
(7/25/23) reports: "Minister of Electricity Dr Kgosientsho Ramokgopa has gone against the government’s official position on the Just Energy Transition(JET) strategy and said that the decommissioning of the Komati power station was a mistake. The coal-fired Komati power station in Mpumalanga - which had nine generating units with a total installed capacity of 1 000MW - was shut down in October 2022, after as reaching the end of its operational life after 61 years, to make way for renewable energy as part of the JET. The power plant will be converted into a renewable generation site powered with 150MW of solar, 70MW of wind and 150MW of storage batteries through a concessional loan facility from the World Bank. Speaking at a Dialogue hosted by Standard Bank Group Corporate Citizenship last night, a frustrated Ramokgopa posted videos of himself on Twitter saying that international investors had put pressure on South Africa to quickly transition to lower carbon technologies at the expense of
energy security. 'If I had my way, we’d go and restart the units at Komati. We closed the power station which was the best performing power station at the time we closed it,' Ramokgopa said. 'And because someone gave us money and said decarbonise, we are getting 270MW of intermittent energy [and] we removed 1 000MW.' The Standard Bank Dialogue engaged role players on finding collaborative solutions in moving from energy instability to energy certainty."

If you oppose a carbon tax, take a stand and ** contact us. (mailto:[email protected])

** ([link removed])

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: ↑ $80.11
Natural Gas: ↑ $2.62
Gasoline: ↑ $3.73

Diesel: ↑ $3.97
Heating Oil: ↑ $296.86
Brent Crude Oil: ↓ $84.22
** US Rig Count ([link removed])
: ↓ 698



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