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DAILY ENERGY NEWS  | 10/12/2023
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Financing our enemies.


Fox News (10/12/23) op-ed: "Joe Biden solemnly declared that he stands with Israel against the terrorists. Great. But his actions in the White House have facilitated these homicidal attacks by financing our enemies. This was so predictable and avoidable.  Biden’s war on American energy started on day one. His first act of president was to kill the Keystone XL pipeline and the systematic reversal of Donald Trump’s pro-America energy policies has gotten worse month after month. The Institute for Energy Research lists scores of Biden anti-fossil fuel policies that include in just recent weeks taking millions of acres of prime oil and gas lands – from Alaska down to the Gulf of Mexico – out of production. Biden’s environmental rules and higher taxes on the industry seem intentionally designed to bankrupt this industry – much as he promised he would do if elected president."

"As we are examining what is going on at universities, corporate America and elsewhere on what is being taught about society, DEI etc … We should do the same with what is being taught about #ESG / #energytransition and economics / #netzero etc — too much fake education."

 

– Abhi Rajendran - Energy Intelligence

Was sacrificing our security for a few votes worth it?


Daily Caller (10/10/23) reports:  "Biden decided to release 180 million barrels of oil from the SPR in late 2021 and 2022 as fuel prices skyrocketed for American consumers, a spike which created a political headache for Biden and fellow Democrats in the months leading up to the midterm elections. Now, the SPR has about 17 days of emergency supply left as war breaks out between Israel and Hamas, an Iran-backed terrorist organization, a situation which leaves the U.S. in a precarious position if the conflict escalates to further destabilize the Middle East, experts told the DCNF.  'It was a colossal mistake to use the strategic petroleum reserve as a strategic political reserve to try to buy Biden some goodwill during the midterms,' Tom Pyle, president of the American Energy Alliance, told the DCNF. 'It is unconscionable that the administration would use a hedge against these sorts of unpredictable geopolitical events to win a few seats in a midterm election,' Pyle said, adding that the decision 'puts us in a precarious position, because we do not know how things in the Middle East might escalate given this shocking and unprecedented event.'”

Driving the point home.


Just the News (10/10/23) reports: "The Hamas terrorist attack on Israel this weekend has raised concerns over the security of the domestic supply of oil and gas. Should the conflict escalate in the region and disrupt exports from the Middle East, the ability of the U.S. oil and gas industry to meet national demand would run up against the Biden administration’s opposition to drilling.  Even if the Biden administration were to change course in the face of a conflict-driven energy crisis, it would take some time before the industry to ramp up production enough to meet demand."

Battery storage won't save wind and solar. 


Washington Examiner (10/11/23) reports: "With the U.S. moving toward carbon-free forms of energy, experts say additional forms of storage are necessary for wind and solar power because they still lack the capacity to meet customer demands...  Existing energy storage abilities are not sufficient or affordable enough to support today’s energy grid.  'Because wind and solar are intermittent sources, battery storage is needed for these sources in order to provide backup when the sun is not shining or the wind does not blow,' Alex Stevens, manager of policy and communications for the Institute for Energy Research, said in an email to The Center Square. 'Therefore, the cost of storage is an additional cost of wind and solar power that will increase the price of electricity for consumers despite the myriad of subsidies governments are providing.'"

Energy Markets

 
WTI Crude Oil: ↑ $84.81
Natural Gas: ↓ $3.33
Gasoline: ↓ $3.65
Diesel: ↓ $4.49
Heating Oil: ↑ $304.37
Brent Crude Oil: ↑ $87.38
US Rig Count: ↓ 665

 
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