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DAILY ENERGY NEWS | 12/18/2023
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** We hate to say we told you. It's time to Save Our Cars ([link removed]) and good paying union jobs.
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The Detroit News ([link removed]) (12/14/23) reports: "General Motors Co. will lay off indefinitely 1,314 workers at two Michigan plants as production of the Chevrolet Camaro and Bolt end, according to letters filed with the state of Michigan. The Detroit automaker is laying off an additional 34 workers at its assembly plant in Lake Orion following ratification of its contract with the United Auto Workers, according to a Worker Adjustment and Retraining Notification. That means a total of 945 workers will be laid off there, including job cuts announced in October that will start on Jan. 1 because of production ending of the Bolt EV and EUV on Dec. 18."
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** "COP 28 was a spectacular failure, as measured against the goals that the UN had set for it from the beginning. It did not achieve a single one of the objectives that climate activists sought. Even more important, in spite of the voluntary commitments that various governments made during the conference (mostly aimed at domestic audiences), it is virtually certain to have little or no effect on the global trends in GHG emissions or on the climate."
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– R ([link removed]) obert Lyman, Net Zero Watch ([link removed])
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Judgement Day for Generation E...
** Wall Street Journal ([link removed])
(12/16/23) reports: "Barra was named CEO 10 years ago this week with a mandate to rattle cages. GM was still emerging from its 2009 bankruptcy and the 115-year-old automaker’s plodding corporate culture** ([link removed])
needed a shaking up—one that Barra, who cracked the glass ceiling with her appointment, could bring. But now, the twin engines of her growth strategy—electric vehicles and driverless technology—are stalling out. Barra has stood out among her peers, placing one of the industry’s most decisive bets on EVs and self-driving cars. The Michigan native, whose father worked at GM for 40 years as a die-caster, has spent years doing the once unthinkable: shrinking GM’s sprawling global operations to free up capital to fund the astronomically expensive transformation. But factory setbacks have prevented the company from getting EVs out the door. The delays disappointed customers and caused the company to squander an opportunity to seize on early enthusiasm for new electric models. Lately, Barra has said that not as many consumers have been willing to make the switch to electric as the company had expected, clouding the future payoff for her EV bet."
It appears that medical journals are now the go-to place for publishing evidence-free climate screeds.
** National Review ([link removed])
(12/15/23) reports: "The Lancet is at it again. Having previously strived mightily to transform global warming into a planetary health emergency, it has now published a screed attacking 'commercialism' for killing the planet. Let’s get real. (Relatively) free-market economies in which commercial interests clearly have influence — like the U.S. — are not dramatically increasing emissions. To the contrary, according to the Institute for Energy Research, the U.S. recorded the world’s greatest reduction in emissions — 24 percent — between 2005 and 2020... In contrast, emissions soared in non-free economies — particularly Communist China — which saw its greenhouse-gas releases increase by a whopping 62 percent, outpacing every other country on earth."
Even the guy who runs the only successful EV company thinks the climate cult has gone too far.
** Reuters ([link removed])
(12/16/23) reports: "Oil and gas should not be demonised in the medium-term, Elon Musk, the founder of electric car maker Tesla, said on Saturday, but he also said it was important to reduce carbon emissions to preserve the planet. Musk, speaking at a right-wing political gathering organised by Italian Prime Minister Giorgia Meloni's Brothers of Italy party said: 'Climate change alarm is exaggerated in the short term,' adding that the environmental movement may have gone too far, causing people to lose faith in the future."
Energy Markets
WTI Crude Oil: ↑ $73.06
Natural Gas: ↑ $2.59
Gasoline: ↑ $3.13
Diesel: ↓ $3.98
Heating Oil: ↑ $270.03
Brent Crude Oil: ↑ $78.43
** US Rig Count ([link removed])
: ↑ 667
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