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DAILY ENERGY NEWS | 11/16/2023
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** No coke, pepsi...
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The Hill ([link removed]) (11/15/23) reports: "New York state sued PepsiCo on Wednesday in an effort to hold the soda-and-snack food giant partly responsible for litter that winds up in bodies of water supplying the city of Buffalo with drinking water.The lawsuit, filed in state Supreme Court by Attorney General Letitia James, accuses the company and its Frito-Lay subsidiaries of creating a public nuisance by making a huge number of plastic bottles and wrappers, some of which inevitably fall or blow into the Buffalo River when they are discarded. Simply by making so much plastic, the company is hurting the environment, the lawsuit argues. 'No company is too big to ensure that their products do not damage our environment and public health. All New Yorkers have a basic right to clean water, yet PepsiCo’s irresponsible packaging and marketing endanger Buffalo’s water
supply, environment, and public health,' James said in a statement. PepsiCo said in a statement that it was serious about 'plastic reduction and effective recycling.' It didn’t directly comment on the lawsuit’s claim that it was legally responsible for keeping garbage out of the Buffalo River. PepsiCo, which is headquartered in New York, produces and packages at least 85 different beverage brands including Gatorade and Pepsi products, and at least 25 snack food brands that mostly come in plastic containers meant to be thrown away or recycled once they are empty."
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"Around the world, the costs of transit systems, energy developments, and other projects frequently soar above what was promised...Taxpayers should be skeptical when governments propose large and complex construction schemes."
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– Chris Edwards, Cato Institute ([link removed])

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The EV transition is going so great that Warren Buffett sold $848 million in GM stock.

** MSN ([link removed])
(11/16/23) reports: "Berkshire Hathaway has exited its stake in General Motors and analysts have varying thoughts on whether it could signal GM's stock price faces challenges but agree the move could be due to issues such as the uncertainties around the transition to electric vehicles and the higher costs the automaker will face from a new agreement with the United Auto Workers. GM UAW members are voting on a new contract now and several GM plants have voted against it, according to UAW.org, which also could signal uncertainty for GM if it has to return to the bargaining table; Wall Street dislikes uncertainty. In a government regulatory filing on Tuesday, Berkshire Hathaway described its U.S.-listed stock holdings as of Sept. 30 and the company reported no holdings in GM...In June, GM CEO Mary Barra said one of the biggest problems she faced was the logistics of getting new cars to dealerships. Also, GM's self-driving subsidiary, Cruise, has faced a number of challenges that have resulted
in it ceasing operations.GM also has struggled to ramp up production of its EVs, citing problems with battery module availability. GM said this past summer that it was resolving that issue and EV production was expected to improve in the second half. But much of the second half was dominated by UAW talks to negotiate a new contract amid a nationwide strike that impacted 18 GM parts distribution centers and four assembly plants."

Biden's "unity agenda" in action.

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Big Green, Inc. is rotten to the core.

** Fox News ([link removed])
(11/16/23) reports: "A major left-wing dark money nonprofit organization earmarked millions of dollars last year to a private law firm that's spearheading climate litigation against the oil industry on behalf of Democrat-led cities and states, according to newly published tax filings. New Venture Fund — which is managed by Arabella Advisors, a firm that oversees a liberal billion-dollar dark money network — wired grants worth a total of $2.5 million to the California-based Sher Edling in 2022 alone, per the tax filings reviewed by Fox News Digital. Across the country, Sher Edling has taken up novel climate litigation against major oil and gas producers, arguing the industry has misled the public about the threat posed by global warming. 'It smacks of a political operation,' Tom Pyle, the president of the Institute for Energy Research, told Fox News Digital in an interview. 'You have this whole self-dealing scheme where progressive donors are hiding behind nonprofits and taking advantage of
that from a tax perspective, then funding Democrat law firms, and also, Democrat politicians and elected officials are participating as well.' 'Across the board, it's rotten,' Pyle continued. 'This is further evidence that the green movement is no longer about protecting the environment. It's about being a political, financial and organizational arm of the Democratic Party.'"
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Energy Markets


WTI Crude Oil: ↓ $74.01
Natural Gas: ↓ $2.76
Gasoline: ↑↓ $3.34

Diesel: ↓ $4.32
Heating Oil: ↓ $277.53
Brent Crude Oil: ↓ $78.56
** US Rig Count ([link removed])
: ↓ 683



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