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DAILY ENERGY NEWS | 09/27/2023
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** Billions of dollars spent on "carbon offsets" and it's all junk.
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Power Technology ([link removed]) (9/22/23) reports: "The 'vast majority' of environmental projects most commonly used within the voluntary carbon market (VCM) to offset greenhouse gas (GHG) emissions seem to have “fundamental failings” and cannot be relied upon to tackle global warming, according to a joint investigation from the Guardian and non-profit climate watchdog Corporate Accountability. The investigation analysed the top 50 emission offset projects, selected because they have sold the most carbon credits within the global VCM, and found that most of them exaggerate climate benefits and underestimate the potential harm caused by the project’s activity. The most popular projects traded globally include forestry schemes, hydroelectric dams, solar and wind farms, waste disposal and greener household appliance schemes across 20 countries, most of which have developing economies. The data comes from Allied Offsets,
the world’s biggest and most comprehensive emissions trading database, which aggregates information about projects traded within the VCM from their inception. The analysis found that 39, or 78%, of the 50 projects were categorised as 'likely junk or worthless' due to one or more 'fundamental failing' that undermines its alleged emissions offsetting power. Eight others, or 16%, look 'problematic.' There is evidence to suggest that they may have at least one fundamental failing and could therefore be 'junk.' The effectiveness of the remaining three projects could not be assessed properly or classified definitively, largely due to a lack of available public, independent information. The analysis also found that $1.16bn worth of carbon credits have been traded so far from those projects classified as 'likely junk or worthless.'"
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** "Want to pay more for energy? If so, President Joe Biden’s new drilling prohibition in the Arctic National Wildlife Refuge (ANWR) is good news for you."
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– EJ Antoni, The Heritage Foundation ([link removed])

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Whales and eagles: Big Green, Inc.'s surf & turf

** Cowboy State Daily ([link removed])
(9/24/23) reports: "A proposed rule by the U.S. Fish and Wildlife Service is designed to streamline the permitting process that wind developers go through for eagle 'takes,' which refers to killing or seriously disrupting the lives of eagles. The rule has some conservationists concerned that, if it became final in its current form, it would weaken protections for eagles, especially in the key corridors of southeast Wyoming, while reducing the ability for the public to participate in the permitting process. Anne Brande, executive director of the Albany County Conservancy, told Cowboy State Daily that by extending eagle-take permits to so many projects in southeast Wyoming, they’re potentially extending past how much mortality rates eagles can handle. ."

The fruits of the net-zero agenda.

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It doesn't matter which side of the pond you're on. EV mandates hurt consumers and workers.

** BBC ([link removed])
(9/25/23) reports: "The rules are meant to ensure that EU-produced electric cars are largely made from locally sourced parts. But manufacturers on both sides of the Channel say they are not ready. The European Automobile Manufacturers Association (ACEA) also warned the measures could reduce output from EU factories by 480,000 vehicles. And they said customers would pay the price.The main problem lies in so-called 'rules of origin' which come into force in January. They apply to shipments of cars across the Channel under the terms of the Brexit deal, the UK-EU Trade and Cooperation Agreement. They will effectively ensure that electric vehicles will need to have batteries produced in either the UK or the EU. Cars that do not meet the criteria will face 10% tariffs - or taxes - when transported across the Channel, in either direction. The rules were designed to protect the European industry from cheap imports. But because battery production in Europe has not ramped up as quickly as expected,
carmakers are struggling to meet the new criteria. It is a serious problem for European manufacturers. The UK is by far their largest export market, with 1.2 million vehicles arriving at UK ports last year. Likewise more cars built in the UK are transported to the EU than any other region."

Energy Markets


WTI Crude Oil: ↑ $92.61
Natural Gas: ↑ $2.73
Gasoline: ↑ $3.83

Diesel: ↓ $4.56
Heating Oil: ↑ $324.65
Brent Crude Oil: ↑ $95.66
** US Rig Count ([link removed])
: ↓ 676



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