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DAILY ENERGY NEWS  | 11/13/2023
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Dairy is good. Beef is good. People that want to forcibly stop you from eating beef and dairy are bad.


Bloomberg (11/6/23) reports: "Greenhouse gas emissions from the world’s top meat and dairy producers increased further this year, highlighting the urgent need for the food industry to clean its practices and help prevent global warming. Disclosed emissions from the world’s 20 largest publicly-listed meat and dairy companies rose 3.3% from 2022 levels, according to a report by investor network FAIRR Initiative. Its analysis includes companies like Hormel Foods Corp. and China’s New Hope Liuhe Co., which supply household names like Walmart Inc. and McDonald’s Corp. The food industry’s climate footprint is immense, accounting for about a third of global greenhouse gases. Livestock, which releases potent methane, makes up 14.5% of worldwide emissions. The Science-Based Targets initiative, a UN-backed agency that evaluates companies’ net-zero goals, recommends that the food and agriculture sector cuts emissions by 3% a year between 2020 and 2030. 'The sector is just not on track,' said Thalia Vounaki, senior manager for research and engagements at FAIRR.  That underlines the need to focus on food and agriculture as world leaders gear up for the upcoming COP28 summit in Dubai later this month, FAIRR said in its report. The group of investors raises awareness about the environmental, social and governance risks and opportunities in the global food sector, and is backed by more than $70 trillion in assets."

"You have likely seen over the course of just the past few months that the supposed green energy transition — widely hyped and massively subsidized for two decades — has suddenly started to crumble on multiple fronts. We are rapidly approaching the green energy wall. And yet at the same time, the promoters of the climate scare are not backing down...Well, they have religious fervor and fanaticism on their side, but we have reality." 

 

 

– Francis Menton,
Manhattan Contrarian

Biden's "greening" isn't making America any more energy independent since he's ramping up his war on domestic mining at the same time.


Reuters (11/12/23) reports: "The United States and Indonesia on Monday will discuss how to advance a potential minerals partnership aimed a stimulating trade of the electric vehicle (EV) battery metal nickel, according to three people with direct knowledge of the conversations. Next steps that could move the countries toward formal negotiations on the partnership will be discussed when Indonesian President Joko Widodo visits the White House for a meeting with U.S. President Joe Biden on Monday, according to one of the people. The Biden administration is still concerned about environmental, social and governance standards in Indonesia and is examining how a deal might work, the sources said...Indonesia's nickel supplies are the world's largest and nickel mining there has been blamed for heavy deforestation and water pollution. Under guidelines for the U.S. law issued in March, Washington has required that a certain amount of critical minerals in EV batteries be produced or assembled in North America or a free trade partner, for EVs sold in the United States to be eligible for tax credits. Indonesia does not have a free trade agreement with the United States. The Biden administration is also discussing ways to carve out any nickel that is extracted from Indonesia but processed in China from receiving the IRA credits, one of the sources added...The only U.S. nickel mine is set to close in a few years, and the country has no nickel smelter, a risk to Biden's goal for the United States to lead in EV manufacturing. The government last year gave nearly $115 million to Talon Metals, to partially fund a nickel processing plant in North Dakota that will supply Tesla Inc. Talon is seeking permits for its proposed Minnesota nickel mine, but has faced opposition from Indigenous people. Many U.S. miners have said that the Biden administration should focus more on approving domestic projects than seeking international supply."

At a certain point it becomes more likely the government is making things worse on purpose.

EVs are driven 38% fewer miles than ICE cars, but sure, it'll work for every family.


George Washington University (11/6/23) study: "Mass adoption of electric vehicles (EV) is a key part of plans to decarbonize the United States’ energy system. As EV ownership in the U.S. increases, understanding how much EV owners are driving their cars informs everything from climate and energy models to U.S. policy and energy planning. Thus far, the assumption among modelers and regulatory bodies like the Environmental Protection Agency (EPA) has been that EV owners drive their cars about the same number of miles as owners of gas vehicles. New research published in Joule, however, challenges that assumption and suggests we may be overestimating emissions savings from EVs. In one of the largest studies on EV mileage to date, researchers at the George Washington University and the National Renewable Energy Laboratory examined odometer data from 12.9 million used cars and 11.9 million used SUVs between 2016 and 2022. They found that battery electric vehicle (BEV) cars were driven almost 4,500 fewer miles annually than gas cars. The study found a gap for both cars and SUVs: electric cars had traveled 7,165 miles while gas-powered cars had traveled 11,642 miles annually, and electric SUVs traveled 10,587 miles while their gas-powered counterparts traveled 12,945 miles annually. "

Energy Markets

 
WTI Crude Oil: ↑ $77.18
Natural Gas: ↑ $3.16
Gasoline: ↓ $3.36
Diesel: ↓ $4.34
Heating Oil: ↑ $277.93
Brent Crude Oil: ↑ $81.51
US Rig Count: ↑ 689

 

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