Biden's jump-scare

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DAILY ENERGY NEWS | 10/30/2023

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Just in time for Halloween, Biden's haunted house of regulatory price creep.

Epoch Times (10/28/23) reports: "A consumer watchdog has calculated that the Biden administration's war on appliances such as gas stoves, in the name of climate change, would cost the average American household over $9,100. In an infographic titled 'Biden's Dream Home,' the nonprofit Alliance for Consumers puts price tags on the Biden administration's various proposals for new energy standards for all kinds of appliances found in homes, including air conditioners, washing machines, and gas stoves. This year, the Department of Energy (DOE), the Environmental Protection Agency (EPA), and the Department of Transportation (DOT) have announced a range of proposed rules that will make household appliances more expensive and, as some experts contend, are designed to force Americans to give up their current appliances...In response to the DOE's call for public comment on its dishwasher energy efficiency proposal, a coalition of 19 industry and consumer groups led by the Competitive Enterprise Institute (CEI) submitted a detailed criticism. Existing dishwasher standards are already causing 'serious problems' for consumers and tightening them further would worsen the problems and undercut consumer protections, they wrote. 'While each of the Biden administration’s recently-proposed appliance measures raises a unique set of risks for consumers, the proposed dishwasher rule at issue here is particularly harmful,' the groups wrote in the submission. Signatories of the submission to DOE include The Heritage Foundation, Institute for Energy Research, Heartland Institute, American Consumer Institute, Americans for Prosperity, and American First Policy Institute."

"Recall that in 2021, Bloomberg said, 'We’re in a race to save Earth from climate change.' It’s unclear to whom Bloomberg referred when he used the royal “we.”But given his predilection for far-flung houses and private jets, it seems that the media mogul and near-centibillionaire is a lot like the rest of us when it comes to using hydrocarbons. It’s an attitude that reminds me of St. Augustine, who famously prayed, 'O Lord, help me to be pure, but not yet.'"

– Robert Bryce, Substack

After all, why shouldn't American tax-payers be funding the salaries of climate czars in Angola?

Daily Caller (10/29/23) reports: "The prospective contribution of vast sums of American taxpayer dollars to a de facto international 'climate reparations' fund would have negligible impact on climate change and is unlikely to materialize beyond discussions, energy experts told the Daily Caller News Foundation. Environmentalists and officials from underdeveloped countries have called for a so-called “climate losses and damages fund,” which would have countries that have historically emitted high levels of greenhouse gases, like the U.S., route huge sums of money through international institutions to compensate developing and poor countries for the perceived effects of climate change, according to Axios. Delegates heeded the calls of environmentalists at the last United Nations (UN) climate conference in 2022 and agreed in principle to establishing a 'climate losses and damages fund,' but limited progress has been made toward realizing that pledge as this year’s conference, known as COP28, draws closer on the calendar, and experts say a finalized agreement on the program is unlikely to be reached at COP28."

Most transparent least corrupt administration in history...

Fox News (10/28/23) reports: "John Podesta, President Biden's clean energy czar, quietly assembled with the head of an electric vehicle (EV) company that relies heavily on taxpayer handouts and has floundered financially since its inception, White House visitor logs reviewed by Fox News Digital show. According to the records, Podesta privately met with Rivian Automotive CEO Robert "RJ" Scaringe; the company's senior policy director, Chris Nevers; its senior public policy manager, Corey Ershow; and Izzy Klein, a lobbyist for the EV maker, at the White House in June. It is unclear what Rivian officials discussed with Podesta, and both the company and the White House didn't respond to requests for comment. 'Well, Podesta has the largest slush fund, un-appropriated, probably in American history. As soon as the Inflation Reduction Act (IRA) passed, Biden and company announced it was actually an investment in green energy and yet it's not appropriated to anything,' Daniel Turner, the executive director of Power the Future, told Fox News Digital. 'So, it makes sense that Rivian and other failing green energy companies are knocking on John Podesta's door.' 'The problem is that it will be sold to the American people as investment, it will be sold to the American people as combating the climate crisis,' Turner added. 'But it is just another example of corrupt government paying off people who fund their campaigns and deciding winners and losers when, at the end of the day, the real losers are the American people who are paying astronomical amounts for basic necessities because of this Biden economy.'"

A tax on energy is a tax on life. It turns out a tax on life isn't popular.

Oil Price (10/27/23) reports: "Canada's federal government has suspended a new carbon tax targeting heating oil after a wave of popular opposition from the country's eastern provinces where oil is an essential source of heating. 'We are switching to heat pumps off home heating oil, as a region in Atlantic Canada and as a country,' Prime Minister Justin Trudeau said but after he announced a three-year postponement in the implementation of the tax. When it does get implemented, the new carbon tax will affect 2.6 million people in Canada's eastern provinces. Canada already has carbon taxes on fuels as part of its efforts to reduce carbon dioxide emissions by between 40% and 45% from 2005 levels by 2030. The additional tax burden has contributed to inflation that has made many Canadians struggle to make ends meet. A recent survey from Postmedia-Ledger found that 55% of Canadians would rather the carbon tax be reduced while 37% wanted to see it go altogether. Only 18% were okay with the government's current policy of raising the price of CO2 every year."

Energy Markets

WTI Crude Oil: ↓ $83.04
Natural Gas: ↑ $3.37
Gasoline: ↓ $3.49

Diesel: ↓ $4.46
Heating Oil: ↓ $298.25
Brent Crude Oil: ↓ $88.24
US Rig Count: ↓ 667

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