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DAILY ENERGY NEWS | 01/16/2024
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** Legal Eagles eyeing a lavish loot.
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Daily Caller ([link removed]) ([link removed]) (1/13/23) reports: "In a setback for former government officials and attorneys poised to cash in on proposed climate disclosure rules, the Securities and Exchange Commission continued to kick the ball down the road last year. Many of the objections raised in public comments revolve around so-called Scope 3 emissions that are not directly produced by companies and instead result from what occurs 'upstream' and 'downstream' of a company’s activities. That’s a problem because if the SEC rule is finalized the commission would effectively extend its jurisdiction to include private companies that transact business with public firms registered with the SEC... Dan Kish, a senior fellow at the Institute for Energy Research, a Washington-based nonprofit, sees a potential 'big payday for
law firms' attached to the SEC’s supply chain reporting mandates. 'This is all about expanding the size and scope of government,' he said in an interview. 'Lawyers can get involved with a class action lawsuit and they’ll say this particular company didn’t properly report their emissions. You can expect the lawyers to take a huge chunk from these suits. This gets into very gray areas about how a company can be expected to account for every single item along the supply chain.' Kish continued: 'You’ll have lawyers intervening supposedly to protect the public interest, but they’ll be raking in all kinds of cash. The process doesn’t stop here since the law firms will then dump campaign contributions into the coffers of the people pushing these policies.'"
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** "Is the Biden administration paying attention? Obviously not, as the massive regulatory effort to transform the U.S. economy is accelerating, hindered only by some judicial decisions and the adverse politics of rising energy costs, which is why the Biden regulatory policies have never been enacted by Congress."
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– Benjamin Zycher, American Enterprise Institute ([link removed])
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How exactly would Special K help Biden get reelected? Who is his constituency? Private jet aficionados?
** Axios ([link removed])
(1/13/24) reports: "John Kerry, the U.S. special presidential envoy for climate, will leave the administration later this winter, and plans to help President Biden's campaign, Axios has learned. Why it matters: Kerry, 80, thinks Biden's reelection is the 'single biggest' difference that can be made this year for climate progress at home and globally, a source close to the administration told Axios. What's happening: Kerry — former Secretary of State and chairman of the Senate Foreign Relations Committee, and the Democratic nominee for president in 2004 — plans to help tell the climate story in the context of Biden's campaign. Kerry is working with White House Chief of Staff Jeff Zients on transitioning out of government in the coming months (before spring). What we're hearing: Kerry met with Biden in the Oval Office on Wednesday to catch up after last month's historic COP28 climate summit in Dubai. In the conversation, Kerry emphasized his gratitude for the assignment, his belief that Biden
has amassed a trailblazing climate record at home and globally, and his excitement about the difference renewed U.S. leadership has made globally over the past three years, the source said."
Harvesting frustration: farmers revolt after Germany increases carbon tax by 50 percent.
** Associated Press ([link removed])
(1/4/24) reports: "The German government on Thursday watered down cost-saving plans that have infuriated farmers, announcing that it is giving up a proposal to scrap a car tax exemption for farming vehicles and will stagger cuts to tax breaks for diesel used in agriculture. The cuts were part of a package agreed last month by leaders of Chancellor Olaf Scholz’s unpopular three-party coalition to fill a 17 billion-euro ($18.6 billion) hole in the 2024 budget. Farmers staged a protest with tractors in Berlin and called for more demonstrations this month, and even Agriculture Minister Cem Özdemir spoke out against the cuts being implemented in full. He said farmers have no alternative to diesel...The government also raised Germany’s levy on carbon dioxide emissions from fuel by more than previously planned at the start of the year, which is expected to impact prices for gasoline, diesel, natural gas and heating oil. The CO2 price rose to 45 euros (about $49) per ton of emissions from the
previous 30 euros. The government had planned a smaller increase to 40 euros before the budget verdict."
Elon's tech is going to have a tough time on Mars when it can't even survive winters in the Midwest.
** Fox News ([link removed])
(1/15/24) reports: "Desperate Tesla owners in and around Chicago were seen trying to charge their vehicles with no luck amid frigid temperatures that have gripped the Midwest. Charging stations have essentially turned into car graveyards in recent days as temperatures have dropped to the negative double digits, Fox Chicago reported. 'Nothing. No juice. Still on zero percent,' Tyler Beard, who had been trying to recharge his Tesla at an Oak Brook, Illinois Tesla supercharging station since Sunday afternoon, told the news outlet. 'And this is like three hours being out here after being out here three hours yesterday.' Beard and several other Tesla owners were trying to charge their cars amid long lines and abandoned cars at other Tesla charging stations in the Chicago area, the news station reported. 'This is crazy. It’s a disaster. Seriously,' said Tesla owner Chalis Mizelle. Mizelle said she abandoned her car and got a ride from a friend after hers would not charge. Kevin Sumrak told the
Fox station that he landed Sunday night at Chicago O'Hare International Airport and found his Tesla dead and unable to start. He was forced to hire a flatbed tow truck to haul the vehicle to a working charging station."
Energy Markets
WTI Crude Oil: ↓ $72.37
Natural Gas: ↓ $2.99
Gasoline: ↑ $3.07
Diesel: ↑ $3.92
Heating Oil: ↑ $270.83
Brent Crude Oil: ↑↓ $55.60
** US Rig Count ([link removed])
: ↑ 663
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