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DAILY ENERGY NEWS | 09/19/2023

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You can only play both sides for so long.

Daily Caller (9/18/23) reports: "Several House Democrats visited United Auto Workers (UAW) picket lines over the weekend after voting down a bill that ostensibly would serve the interests of the union’s striking workers by reining in the Biden administration’s electric vehicle (EV) push. Democratic Reps. Elissa Slotkin of Michigan, Marcy Kaptur of Ohio, Rashida Tlaib of Michigan and House Minority Leader Hakeem Jeffries all joined striking UAW workers on the picket lines in shows of solidarity after voting against the Preserving Choice in Vehicle Purchases Act on Thursday, which would “amend the Clean Air Act to prevent the elimination of the sale of internal combustion engine vehicles.” EVs are at the center of the labor dispute, and UAW leadership has expressed concerns that long-term increases in EV production will disadvantage UAW workers...The Biden administration and many Democrats have supported policies that subsidize EV production, as well as actions that restrict the production of internal combustion engine vehicles. The Environmental Protection Agency proposed tailpipe emissions standards in April which would result in manufacturers having their fleets consist of 67% EVs by model year 2032, the Inflation Reduction Act and bipartisan infrastructure law allocate billions of dollars to further subsidize EVs and the National Highway Traffic Safety Administration (NHTSA) proposed updates to the Corporate Average Fuel Economy standards in July that amount to 'an EV mandate,' Dan Kish, senior fellow for the Institute for Energy Research, told the DCNF at the time."

"Ford's EV unit will lose close to $5 billion. The cost to Ford of the 40 percent pay increase the UAW is asking for? About $5 billion. Stop Biden's green war on cars and give the workers a raise!"

– Senator J.D. Vance (OH-R)

Governor Gavin is suing the people who produced the fuel he used to frivolously fly from California to New York to hold a press conference.

Fox News (9/18/23) reports: "California Gov. Gavin Newsom said Sunday that he plans to sign into law a pair of climate-focused bills intended to force major corporations to be more transparent about greenhouse gas emissions and the financial risks stemming from global warming. Newsom's announcement came during an out-of-state trip to New York’s Climate Week, where world leaders in business, politics and the arts are gathered to seek solutions for climate change. California lawmakers last week passed legislation requiring large businesses from oil and gas companies to retail giants to disclose their direct greenhouse gas emissions as well as those that come from activities like employee business travel."

Gavin Newsom is suing the companies that produce the energy that keep the lights on in California.

LA Times (8/15/23) reported: "Sometimes, breaking news is spectacularly unsurprising — but still hugely consequential. That was the case Tuesday, when California officials finalized a decision they’d been telegraphing for months, voting to extend the life of three gas-fired power plants along the state’s southern coast through 2026, instead of closing them later this year. The gas plants pollute the air breathed by nearby residents and help fuel the climate crisis. But Gov. Gavin Newsom’s appointees concluded we still need them — at least for a few more years — to avoid blackouts that could strand millions of people without air conditioning during brutal heat waves and endanger Californians who depend on medical devices powered by electricity. E. Joaquin Esquivel, who chairs the State Water Resources Control Board, said he identified with 'the frustration and the pain' of people who said allowing the gas plants to keep running would harm members of their communities vulnerable to air pollution. But Esquivel suggested that the water board — which had the final say over the gas plants’ fate due to a regulatory quirk — had little choice but to follow the lead of the California Energy Commission, which voted last week to keep the facilities open."

Governor Gavin Newsom doing all this and more to ensure his constituents face the most expensive, unreliable energy in the continental United States.

Energy Portal (9/19/23) reports: "California Governor Gavin Newsom is facing a significant decision-making period as he considers more than 800 energy bills that passed through the state’s legislative session. These bills cover a range of energy-related topics, including offshore wind, solar installations along highways, grid modernization, and addressing orphaned oil wells. One notable bill, Assembly Bill 1373, aims to facilitate the development of offshore wind projects near Morro Bay and Humboldt County. The legislation also includes provisions for long-duration battery storage and new geothermal power plants. By 2045, California aims to derive 100 percent of its electricity from carbon-free sources, and offshore wind is expected to contribute 25,000 megawatts towards this goal. California Governor Gavin Newsom is facing a significant decision-making period as he considers more than 800 energy bills that passed through the state’s legislative session. These bills cover a range of energy-related topics, including offshore wind, solar installations along highways, grid modernization, and addressing orphaned oil wells. One notable bill, Assembly Bill 1373, aims to facilitate the development of offshore wind projects near Morro Bay and Humboldt County. The legislation also includes provisions for long-duration battery storage and new geothermal power plants. By 2045, California aims to derive 100 percent of its electricity from carbon-free sources, and offshore wind is expected to contribute 25,000 megawatts towards this goal."

Energy Markets

WTI Crude Oil: ↑ $92.35
Natural Gas: ↑ $2.85
Gasoline: ↑ $3.88

Diesel: ↑ $4.65
Heating Oil: ↑ $338.90
Brent Crude Oil: ↑ $95.03
US Rig Count: ↓ 660

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