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DAILY ENERGY NEWS | 01/22/2024
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** There is nothing anti-China about a tax that will be paid for by American families. But we've been down this road before. The American people won't be fooled.
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Daily Caller ([link removed]) (1/21/24) op-ed: "Last Thursday, the Senate Committee on Environment and Public Works reported legislation (the Prove It Act) that sets the stage and lays the foundation to impose a carbon dioxide tax on American families, workers, and consumers. This new energy tax was voted out of committee 14-5, with four Republicans — Senator Kevin Cramer (from North Dakota, an energy producing state), Senator John Boozman (Arkansas), Senator Graham (South Carolina), and, most inexplicably, Senator Cynthia Lummis (from Wyoming, another state that produces energy) — joining ten Democrats to create this new tax...The legislation sponsors, which include Senator Cramer, have tried to disguise the actual intention of the legislation — which is to increase the price of energy and everything grown, made, or transported with energy in an attempt to address global warming — with propaganda
about being tough on our trade competitors, including China...Last month, our friends at the American Energy Alliance, in a survey conducted by MWR Strategies — of which this columnist is president — asked 1,600 likely voters in eight swing States how much they would be willing to pay to address climate change. The median ([link removed]) response was just $10 a year. More than a third of the respondents — including 17% of Democrats — said that they were unwilling to pay anything at all to address climate change. When we asked about this particular tax, voters opposed it by almost a 2-1 margin. This new carbon dioxide tax is intensely unpopular; that’s why its sponsors have shrouded it in a verbal smokescreen about communist China."
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** "The hard reality is that the Biden Administration’s EV mandates are bad for U.S. energy security and national security. The mandates are unrealistic and unattainable. They will give China control over critical supply chains and increase costs for consumers and taxpayers. The EPA’s EV mandates should be scrapped."
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– Robert Bryce, Substack ([link removed])

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Why does U.S. Energy Secretary Jennifer Granholm, who was born in Canada, hate American energy? 🤔

** Bloomberg ([link removed])
(1/19/24) reports: "President Joe Biden’s top advisers are divided over how much to ramp up environmental scrutiny of licenses to ship natural gas abroad as companies and industry groups warn it could slow development of new export terminals, according to people familiar with the matter. Administration officials who support taking a tougher approach argue it’s important on both climate and political grounds and are worried that the US has already authorized too much natural gas to flow overseas, said the people, who asked not to be named detailing private deliberations...Biden pledged to provide more natural gas to Europe after Russia’s invasion of Ukraine. The US is now the world’s largest LNG exporter, and any change in policy could have have far-reaching consequences for the industry. Advisers have raised concerns about the economic risk. Among the administration officials leading the push for a more stringent climate test are Energy Secretary Jennifer Granholm and advisers John Podesta
and Ali Zaidi, according to the people. At the same time, officials who raised concerns include National Security Advisor Jake Sullivan, presidential energy adviser Amos Hochstein, and Sarah Ladislaw, Biden’s special assistant for climate and energy."

When you are riding out the storm in your warm, cozy home with a fridge full of food, thank a trucker. And a farmer. And a wildcatter. And a pipeline operator. And a grid operator. You get the picture.
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** Cowboy State Daily ([link removed])
(1/21/24) reports: "Winter cold and storms chase hordes of consumers to the grocery store, where they collectively buy up all the eggs, milk and toilet paper — just in case everyone gets snowed in. Yet somehow, when those shoppers return to the grocery store a day or two later for the bread, cheese or other necessities inadvertently forgotten, all those nearly empty shelves are somehow magically stocked up again. But it’s not magic at all. It happened through a lot of hard, dangerous work, full of icy cold obstacles that can be life threatening, particularly to the inexperienced. Wyoming and U.S. truck drivers are the unsung heroes of our modern world, keeping us all well fed while we stay home, warm and happy, through the worst, be it a polar vortex or a big snowstorm. Wyoming in particular has all kinds of obstacles to throw at the truck drivers who are vital to keeping our grocery store shelves overflowing. A lot of those goods come in first to a certain well-known superstore’s DC —
that’s short for distribution center — which happens to be located along one of the trucking industry’s most feared routes. That’s Interstate I-80, otherwise known to truckers as The Gauntlet. I-80 is one of the longest interstates in America and one of the busiest since it goes coast to coast. That puts a lot of trucks on the route, loaded up with the meat, milk, produce and other foods we all need every day."
** ([link removed])

No fun for you.

** Bloomberg ([link removed])
(1/22/24) reports: "When Royal Caribbean’s Icon of the Seas embarks on its first official voyage on Jan. 27, the journey is sure to make waves. The world’s largest cruise ship, the Icon is over 1,000 feet long (360 meters) and weighs in around 250,000 gross registered tons. It boasts 20 different decks; 40 restaurants, bars and lounges; seven pools; six waterslides and a 55-foot waterfall. Royal Caribbean says its boat will usher in 'a new era of vacations.' Maybe so. But the Icon is also a doubling down on a negative aspect of cruising’s current era: greenhouse gas emissions. In 2022, Bryan Comer, director of the Marine Program at the International Council on Clean Transportation examined the carbon footprint of cruising as compared to a hotel stay plus air travel — since cruises are effectively floating hotels. His analysis found that a person taking a US cruise for 1,200 miles (2,000 kilometers) on the most efficient cruise line would be responsible for roughly 1,100 pounds (500
kilograms) of CO2, compared with 518 pounds (235 kilograms) for a round-trip flight and a stay in a four-star hotel. In other words: Taking a cruise generates 'about double the amount of total greenhouse gas emissions' as flying, Comer says. Not to mention, 'usually people fly to take a cruise,' notes Stella Bartolini Cavicchi, marine policy advisor at OceanMind, a nonprofit that uses satellite and other technologies to understand humans’ impact on the sea. Flying to a cruising port means you 'end up with quite a carbon-intensive holiday,' she says."

Meanwhile, look at how much they are suffering in Davos just to help us see the error of our ways.

** Wall Street Journal ([link removed])
(1/20/24) reports: "Billionaires and world leaders swarm this tiny Alpine village for one week every year to stage a lavish networking extravaganza with the social stress of a high-school prom and the physical demands of Nordic skiing. Many worthy and important discussions take place. Deals get done. Parties run into the early hours. And in between, as the world’s great and good scramble in the cold along Davos’s slippery streets or wait for their limos to crawl along the one-way main drag, there are the moments that make the experience truly unique. Nowhere else will you find this many CEOs searching for toilets that don’t exist...Here are snapshots, boiled down from a week of news, interviews, mingling, and parties in the Alps...Princesses Eugenie and Beatrice, Bridgewater hedge-fund investor Ray Dalio and President Trump’s son-in-law Jared Kushner found common ground in an unusual power center: The Hilton Garden Inn. A-Listers flocked to the hotel, a usually less-expensive option among
Hilton brands, for its prime location as one of few accommodations inside the security zone of the World Economic Forum. Its 146 rooms were hard to snag. Some top executives settled for a room with two double beds...It is an annual tradition: an evening wine party hosted by SkyBridge Capital founder and (briefly) Trump adviser Anthony Scaramucci. Bartenders poured Château Latour Bordeaux wines—which can retail for more than $1,000 a bottle—alongside bottles of white wine and bubbly. Guests including Goldman Sachs economist Jan Hatzius and Gen. Mark Milley were mingling in the dimly lit room at the Hotel Europe. Then it ran dry. By around 11 p.m., bartenders were serving water. Scaramucci said he ran into supply-chain issues."

Energy Markets


WTI Crude Oil: ↑ $73.34
Natural Gas: ↑ $2.43
Gasoline: ↑ $3.07

Diesel: ↑ $3.90
Heating Oil: ↑ $268.60
Brent Crude Oil: ↑ $80.10
** US Rig Count ([link removed])
: ↑ 663



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