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DAILY ENERGY NEWS | 02/06/2024
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** No matter how you dress it up, voters are not willing to pay any tax associated with carbon dioxide or energy.
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West Virginia Record ([link removed]) (2/5/24) reports: "A recent survey by the American Energy Alliance shows that likely voters in eight key states want to see elected officials in Washington grow the economy and address inflation rather than focus on climate change. In fact, only 3 percent identify climate change as the most pressing issue facing our country. Moreover, a majority of voters — including 63 percent of Republicans — oppose a proposal in Washington to impose a new carbon tax on imported goods. There is good reason to oppose this measure, called the Foreign Pollution Fee Act, as well as a related measure, called the PROVE IT Act. The idea behind taxing imports based on the carbon emissions in the country of origin may seem reasonable at first. But anyone with a fundamental understanding of economics can tell you that domestic job creators and working Americans are the ones who will actually pay
for the increased costs associated with this new tax...Curiously, several Republicans in the U.S. Senate who normally champion job-creating policies have signed on to these bills. Perhaps they naively believe they can penalize antagonistic foreign countries without also hurting American workers and families. Perhaps they’ve even bought into the environmentalism of the bills’ Democratic supporters, who push 'Bidenomics' down the throats of hardworking Americans, despite its clear shortcomings."
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** "The Administration is deliberately creating uncertainty about permit approvals and extensions to chill investment and discourage foreign governments from signing long-term contracts. Why risk investing in or signing a purchase agreement with a Gulf Coast project that may later be killed? Smarter to link up with the Qataris."
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– Wall Street Journal Editorial Board ([link removed])

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The greens own Team Biden so hard they are willing to abandon our allies for some election year greenwashing.

** Daily Caller ([link removed])
(2/4/24) reports: "The White House is neglecting to address crucial contextual information when it touts its decision to pause approvals for new liquefied natural gas (LNG) export terminals. President Joe Biden has touted the move as a decisive step on climate, and White House National Climate Adviser Ali Zaidi suggested that fears of negative geopolitical interests for the U.S. are overblown since many key allies are transitioning away from fossil fuels in the long-term anyways. However, there is strong potential that global emissions could increase as a result of the ban, or that America’s reputation with key allies could suffer because of the administration’s decision to throw a wrench into major LNG export projects...Biden’s comments suggest that American LNG export terminals and the greenhouse gas emissions associated with LNG’s transport are problematic enough to warrant a pause, and, by extension, possible termination. What he did not acknowledge, however, is that would-be buyers of
U.S. LNG will look elsewhere to meet their needs rather than give up on finding supply in light of the approval pause, as energy sector experts recently told the Daily Caller News Foundation. Instead, those would-be buyers, whether in Asia or Europe, will likely look to producers in Russia and Qatar, for example, in their scramble to fill in the unexpected gap in their forecasted supply, energy sector experts told the DCNF. The U.S. produces LNG more cleanly than most other nations, Dan Kish, a senior research fellow for the Institute for Energy Research, told the DCNF. meaning that a move prompting buyers to look to countries that produce LNG in less clean fashion is a move that effectively increases emissions. The pause on approvals 'won’t bring down emissions at all, because the U.S. produces LNG with the least environmental impact of just about every other country on Earth,' Kish told the DCNF. 'Russia and Qatar are clearly in the driver’s seat as a result of this decision.'"

Folks, this is not progress...

** Fox News ([link removed])
(2/5/24) reports: "Some California residents are 'stunned' by the high cost of their latest electric and gas bill, after a major utility company raised prices for millions of customers last month. 'It’s almost like you’re getting punished,' 90-year-old Dorothy Lovell told The San Francisco Chronicle. The Santa Rosa resident's utility bill was $696.64 in January. 'I really was not prepared,' longtime San Francisco resident Rebecca Gallegos told the paper after her bill increased by $162 from the month prior. 'I’m blown away.' Utility company Pacific Gas and Electric Co. "PG&E" announced in November that their customers would be paying about $35 more a month on their utility bills in 2024 after the California Public Utilities Commission approved the new rates. That adds up to over $400 extra a year...PG&E is also one of three major utility companies in California whose rates could soon be based on 'equity' after Assembly Bill 205 passed last year. The bill allows the California Public
Utilities Commission to charge customers fixed rates based on their income. Low income customers would save about $300 a year under the new law, according to Fox11 Los Angeles, while households earning more than $180,000 would pay an average of $500 more a year on their electricity bills."

In the immortal words of Mike McKenna: "They're just weird."

** E&E News ([link removed])
(2/2/24) reports: "An Indiana Jones lookalike, a University of Maryland business school professor and a fashion designer who thinks anyone can be gorgeous in sweatpants all packed into a Chelsea townhouse Wednesday night at a venue that describes itself as 'a secret social club at the heart of Manhattan.' The occasion: a gathering of activists who think psychedelics might help solve climate change. Twenty-somethings mingled with 60-somethings at the end of the workday as they elbowed their way toward the back of the narrow room, angling for a plate of vegan focaccia and hummus. Some arrived in high heels. Others wore brightly colored tennis shoes. At least one person was barefoot. The motley congregation of academics, filmmakers, marketing experts and tech aficionados want to shift how the world thinks about one of humanity’s biggest challenges: climate change. And they think mind-altering psychedelics could help do that, by connecting people to nature and by making them think more
creatively about how to solve the monumental problem. Attendees’ interests range from the use of ketamine — a legal pharmaceutical with psychedelic effects — to psilocybin, the naturally occurring psychedelic compound found in 'magic' mushrooms...'We are in the process of discovery,' said Marissa Feinberg, the organizer of the occasion. 'We don’t have the answer.' But she and others in the group — who communicate via email and a growing WhatsApp group — are trying to explore how a shift in consciousness could help spur climate action."

Energy Markets


WTI Crude Oil: ↑ $73.21
Natural Gas: ↓ $2.04
Gasoline: ↓ $3.14

Diesel: ↑ $3.93
Heating Oil: ↓ $271.20
Brent Crude Oil: ↑ $78.40
** US Rig Count ([link removed])
: ↑ 651



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