A bunch of hot air

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DAILY ENERGY NEWS | 08/08/2023

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The numbers couldn't hold up.

Fox News (8/4/23) reports: "The Biden administration quietly revised its data analysis of gas stove regulations it proposed earlier this year, showing they would produce fewer consumer savings than previously projected. The Department of Energy (DOE) filed a notification of data availability as part of its ongoing gas stove rulemaking this week, showing that Americans will save 30% less than it said they would under the regulations when they were first proposed in February. The agency's new analysis showed consumers are now expected to save just 9 cents per month under the gas stove regulations. 'The newly released DOE analysis revises downward the potential energy savings from its original cooking product rulemaking proposal, showing that the savings are even less than DOE originally projected and are almost negligible,' the Association of Home Appliance Manufacturers (AHAM), a leading industry group, said in a statement shared with Fox News Digital on Wednesday. 'The changes in energy savings projected by DOE primarily result from DOE recognizing that the currently available cooking products are more efficient than its earlier analysis assumed,' the statement added...In comments filed with the DOE in April, a coalition of 18 energy and consumer advocacy organizations stated the gas stove regulations do harm consumer choice and strip away product features consumers enjoy."

"When people question why global carbon emissions won’t fall despite climate warnings, the data reveals a sobering reality. The emissions explosion in Asia’s developing nations eclipses efforts elsewhere."

– Robert Rapier, Oil Price

Can we get a wellness check at the Naval Observatory? VP Harris was hit especially hard by this news.

Daily Caller (8/7/23) reports: "Proterra, the electric bus company at the center of an apparent conflict of interest involving Energy Secretary Jennifer Granholm, has filed for bankruptcy, Reuters reported Monday evening. Granholm drew immense scrutiny when it was revealed that she maintained her financial positions in the firm, for which she used to sit on the board of directors, after she assumed her post as the leader of the Department of Energy (DOE) and began to direct policies which could have favored her own financial interests. Granholm eventually closed her position in the firm late in May 2021, and netted capital gains amounting to about $1.6 million. Granholm did not sell her shares in the company until after the House Oversight Committee opened an investigation into the apparent conflict of interest earlier in May of 2021. Additionally, Granholm is alleged to have violated the STOCK Act nine times in 2021, a fact which a DOE spokesperson said at the time was attributable to 'an inadvertent clerical oversight.' Proterra filed for Chapter 11 bankruptcy, which means that the company can stay in business while it restructures its obligations, according to a Monday press release announcing the news. The bankruptcy filing marks a fall from grace for the electric bus and battery producer, which had received a $1.6 billion valuation in a January 2021 merger with another firm, according to Reuters."

How much does Biden hate home-grown, carbon dioxide-free energy? He ended his vacation and flew across the country to designate a national monument to stop uranium mining.

Washington Post (8/8/23) reports: "President Biden, amid heat waves and fierce storms that are disrupting lives around the world, is planning on Tuesday to use this area’s historic lands and dramatic natural landscapes as a backdrop for touting his administration’s efforts to invest in clean energy and combat climate change. In remarks from the historic Red Butte Airfield, Biden is expected to highlight his efforts to protect and conserve natural resources while promoting his investments in climate action, at a time when polling has shown that many voters disapprove of his handling of climate change. Biden on Tuesday is also designating a vast area as a national monument to safeguard it from uranium mining, which local tribal leaders and environmentalists have said would protect aquifers and water supplies and honor long-standing Native American connections to the land...The name of the monument, the fifth that Biden has named as president, is meant to reflect the significance of the area to various tribal nations. Baaj nwaavjo means 'where Indigenous peoples roam' in the Havasupai language, and i’tah kukveni means 'our ancestral footprints' in the Hopi language. Returning from a week-long vacation, Biden arrived here on Monday evening for a three-state tour largely designed to promote his climate agenda and the billions of dollars in investment that the Inflation Reduction Act is pouring into clean energy."

Life comes at you fast.

Energy Markets

WTI Crude Oil: ↓ $80.92
Natural Gas: ↑ $2.74
Gasoline: ↑ $3.82

Diesel: ↑ $4.20
Heating Oil: ↓ $296.80
Brent Crude Oil: ↓ $84.32
US Rig Count: ↓ 682

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