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DAILY ENERGY NEWS | 11/09/2023

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The more the public gets their hands on the steering wheel of an EV, the more they appreciate the value of a gas powered vehicle.

Daily Caller (11/8/23) reports: "The Biden administration’s electric vehicle (EV) adoption targets may be in serious jeopardy as consumer demand lags behind expectations. While the Inflation Reduction Act (IRA), President Joe Biden’s signature climate bill, has pumped billions of dollars into subsidizing battery factories and EV assembly plants in the U.S., consumer demand for the vehicles has cooled off in recent months, according to Fortune. The administration’s efforts to shape the vehicle market to favor EVs with subsidies and regulations may be taking shape on the supply side, but cooling interest from consumers could force the industry to fall apart before it has a chance to reach the longer-term nationwide sales targets that the administration has established, numerous energy policy experts told the Daily Caller News Foundation...Car dealers have said that EVs are piling up in their lots, and the supply glut has prompted manufacturers to slice prices to make the cars more appealing to a wider customer base given that many wealthier consumers who wanted an EV already purchased one, according to The Wall Street Journal. 'This was totally predictable because no one in his right mind would let a politician work on his car, but now the politicians pull a number out of the air and demand entire industries heel to their whim,' Dan Kish, a senior research fellow for the Institute for Energy Research, told the DCNF. 'The worst part about it is in order to meet their mandates, manufacturers are lowering prices on products they are already losing huge amounts of money on. This means normal people, buying regular cars, get to pay much more for their cars and trucks to subsidize sales of the EVs… They’re destroying consumer choice with centralized mandates. This is government-assisted suicide for the U.S. auto industry.'"

"It’s past time the nation’s reliability regulators address the cumulative impact of EPA’s rulemakings and make the Biden administration answer to the danger posed by its regulatory onslaught."

– Rich Nolan,
National Mining Association

The prophets of doom keep getting it wrong. No wonder people are checking out of climate-hysteria.

Daily Mail (10/27/23) reports: "Americans increasingly say climate activists don't understand global warming, are suspicious of green activists and are tired of endlessly debating the subject, a poll shows. Pew Research Center data released this week show that while Americans are concerned about mankind's impact on the climate, they are growing more skeptical about the issue. The survey comes after Republican climate skeptic Mike Johnson was elevated this week to House speaker, and after a summer in which US climate activists struggled to gain traction. The poll of nearly 9,000 adults found that only about one-third of Americans believe climate scientists really understand whether climate change is happening. They are also becoming less convinced of the claims of climate scientists, who broadly agree that mankind's pollution is raising temperatures and causing deadly weather events. Two years ago, 37 percent of respondents said climate scientists understood the issue 'very well.' When they were asked again this September, only 32 percent felt the same way."

The death spiral of subsidization continues...

Telling us what kind of cars to drive, what kind of stoves to cook with, and how to heat and cool our homes. Just what the founders ordered...

CEI (11/2/23) blog: "It isn’t just gas stoves. The Biden administration has a bad regulation in the works for almost every home appliance. These regulations can boost upfront costs, compromise appliance quality, and reduce choices. And they all place the administration’s extreme climate agenda ahead of the best interests of homeowners. With an agenda so out of touch, it isn’t surprising that some in Congress are fighting back. The House of Representatives has already passed legislation blocking proposed stove regulations, and other bills have been introduced that would do the same for water heaters and other appliances...1) Furnaces – Since no two homes are exactly alike, it makes sense to have a wide variety of furnace types available. However, a recently finalized Department of Energy (DOE) efficiency standard would effectively outlaw the type of furnace that is the best choice for millions of homeowners...2) Air conditioners – The Environmental Protection Agency recently finalized a ban on the most affordable central air conditioner models on grounds that they are insufficiently climate-friendly. Expect a jump in prices when this new rule takes effect in 2025...3) Washing machines – Washing machines have already been impacted by successively tighter water and energy use limits in 1994, 2004, 2007, 2015, and 2018. Despite serious impacts on performance, the DOE has proposed a new rule making the water and energy use limits even more stringent...4) Stoves – A proposed DOE efficiency standard for stoves would disproportionately target natural gas stoves over electric ones...5) Dishwashers – Dishwashers are already badly over-regulated, but DOE is at it again with the agency’s fifth proposed standard further reducing the allowable levels of water and energy they can use. Previous standards have increased the time it takes to do a load of dishes from about one hour to two or more."

Energy Markets

WTI Crude Oil: ↑ $76.90
Natural Gas: ↓ $3.05
Gasoline: ↑ $3.40

Diesel: ↑ $4.39
Heating Oil: ↓ $273.60
Brent Crude Oil: ↑ $81.19
US Rig Count: ↑ 684

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