Those poor, needy islanders

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DAILY ENERGY NEWS | 01/31/2024

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The "poor" residents of Martha's Vineyard are finally getting some Environmental Justice thanks to the Biden Administration...

Daily Caller (1/31/24) reports: "The Biden administration is classifying some of the country’s most elite and exclusive locales as 'low-income' areas, making them eligible for electric vehicle (EV) charger subsidy programs. The administration’s EV charger tax credit program — made possible by the Inflation Reduction Act (IRA), President Joe Biden’s signature climate bill — is specifically designed to route subsidies to 'low-income' or “non-urban” areas of the country. The 'low-income' emphasis for eligibility aligns in spirit with the Biden administration’s wider pursuit of so-called 'environmental justice,' which is effectively the combination of social justice ideology and green policy. Numerous elite hangouts and locales — including Montauk and Fishers Island in New York, and parts of Martha’s Vineyard and Nantucket in Massachusetts — are among the areas that the administration has classified as 'low-income' and eligible for receipt of EV charger subsidies, according to a Daily Caller News Foundation analysis of the Department of Energy’s (DOE) interactive eligibility map...A pocket of Rehoboth Beach, Delaware, located just miles from President Joe Biden’s summer residence, is also eligible for the subsidies as a 'low-income' zone, according to the DOE’s map. Multiple properties located in Rehoboth Beach’s 'low-income' tract are valued in excess of $2 million, with one valued at over $4 million and another valued at over $6 million, according to Zillow."

"For the hundreds of millions of people worldwide who still lack access to electricity, LNG exports could be the difference between dark and light."

– Travis Fisher, Cato Institute

This must be what people are talking about when they worry about "climate-related" disasters...

Sun Chronicle (1/25/24) reports: "Numerous homes in town have for months been seeing their yards and basements flooded by rainwater flowing down a hill from land where a solar farm is being built. The farm is on about 30 acres off Berry Street and adjacent to the former Park Terrace Swim Club, which the Hockomock Area YMCA now owns. About two dozen neighbors attended a heated meeting of the planning board Wednesday night at town hall to address the issue. The flooding has been going on since last summer after trees were cleared from the site to make way for the solar panels. Residents say the water has impacted homes not only on Berry Street but also Wade Road and Harvard Street as well as South Street (Route IA), which has flooded and required the response of DPW crews. The residents say their homes never flooded before. A tearful Karen Host of Berry Street said about 3 feet of water flooded the finished basement of her home and the damage isn’t being covered by insurance. The fire department had to pump out her basement, and firefighters returned a few days later for their hoses and pumps and water was still pouring out, it was noted. 'My backyard was a swimming pool,' she said, adding she expected more basement flooding from Wednesday’s rain. Jennifer McRae of South Street presented pictures of the flooding of her property, which she said began in August and has become progressively worse. McRae said her basement fills with around a foot of water for days. Some photos showed rocks, other debris and mud that have washed onto her property. She said her driveway, which washes into a neighbor’s yard, has been repaired twice. 'It washed my mailbox out on 1A,' McRae said of the runoff. 'Every time it rains or snows, my anxiety goes through the roof. None of us can sell our houses.'"

OK people, move along. Nothing to see here...

Welcome to the Energy Transition, brought to you by Communist China.

Reuters (1/30/24) reports: "Europe's solar panel manufacturing industry has urged the European Union to step in with emergency measures to avoid local firms shutting down under price pressure from Chinese imports, a letter seen by Reuters showed.
Multiple European solar manufacturers have announced plans to close factories in recent months, citing pressure from a flood of imports and an oversupply of solar panel parts that have piled up in European warehouses and pushed down prices. In a letter to European Commission President Ursula von der Leyen, industry group the European Solar Manufacturing Council (ESMC) warned that without rapid help, the EU risked losing more than half of its operational solar photovoltaic module manufacturing capacity within weeks. 'Over the next 4–8 weeks, major EU PV module producers and their European suppliers are poised to shut down manufacturing lines unless substantial emergency measures are promptly implemented,' said the letter, dated Jan. 30...But while that fast growth is crucial to meet climate change targets, it is also heavily reliant on imported components from China - prompting some other industry groups to oppose tariffs that could disrupt supplies from China and potentially slow the roll-out of green energy. Switzerland's Meyer Burger, opens new tab is among the European firms struggling, this month announcing plans to close its loss-making production plant in Germany unless the government delivered promised funding."

Big Green, Inc. has always been enamored by the communists.

Bloomberg (1/26/24) reports: "China installed more solar panels in 2023 than any other nation has built in total, adding to a massive renewable energy fleet that’s already leading the world by a wide margin. The country added 216.9 gigawatts of solar last year, blowing away its previous record of 87.4 gigawatts from 2022, the National Energy Administration said in a statement. That’s more than the entire fleet of 175.2 gigawatts in the US, the world’s second-biggest solar market, according to BloombergNEF estimates. The NEA measures capacity in alternating current while BNEF tracks direct current, meaning the actual gap is even larger. China also added 75.9 gigawatts of wind, up from 37.6 gigawatts last year, also a record. A surge in clean energy in China, the top polluter, helped to drive the world’s adoption of renewables to a record 510 gigawatts last year, according to the International Energy Agency. Nations are getting closer to a pathway needed to meet the target set at the COP28 climate summit to triple renewable power by the end of the decade, the IEA said. China probably accounted for 58% of global solar installations and 60% of global wind last year, according to BNEF."

Energy Markets

WTI Crude Oil: ↓ $77.07
Natural Gas: ↓ $2.11
Gasoline: ↑ $3.14

Diesel: ↑ $3.93
Heating Oil: ↑ $282.55
Brent Crude Oil: ↓ $82.13
US Rig Count: ↓ 641

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