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DAILY ENERGY NEWS | 02/08/2024
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** When you listen to consumers, not climate cranks, the market rewards you.
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Daily Caller ([link removed]) (2/7/24) editorial: "Toyota said Tuesday the company will see an annual profit of $30 billion at the end of the fiscal year in March, and it’s probably down to one big decision. The Japanese car giant suggested that its decision to avoid going fully electric within its fleet of vehicles, and instead emphasize hybrid machines, is likely why it’ll end the fiscal year on such a high, according to Axios. Shares in Toyota rose nearly 50% in the last 12 months, while electric vehicle manufacturers struggle to deal with the fact that no one wants their stupid cars.Ford was forced to cut the price of the electric version of its iconic F-150 pickup truck by around $10,000 because no one wanted to buy them. Models were piling up at dealerships, despite the lower-cost, because common sense consumers know that electric vehicles (a) don’t really help the planet as they are
still fueled by electricity from traditional power plants, and (b) are often junked over the most minor of damages...General Motors reported a $1.7 billion loss in January thanks to a seriously slowing down in interest in electric vehicles by the general public. So, Toyota clearly made the right call by avoiding these stupid cars, and sticking with vehicles that do what they’re supposed to: get you where you need to be on time."
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** "Zero Energy Poverty by 2050 is a humane and achievable goal. Net zero carbon emissions by 2050 is neither achievable nor humane, as impeding energy access runs counter to emerging from poverty."
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– Chris Wright, Liberty Energy ([link removed])
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It took war to destroy Ukraine's industry. In Germany all they had to do was let Big Green, Inc. call the shots for a few years.
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The billionaires bankrolling Big Green, Inc. do not have America's best interests in mind. Case in point.
** Wall Street Journal ([link removed])
(2/8/24) reports: "Charities controlled by members of the Rockefeller family and billionaire donors were key funders of a successful campaign to pressure President Biden to pause new approvals of liquefied natural gas exports from the U.S. The Rockefellers, along with other wealthy donors including the philanthropy of Michael Bloomberg, have provided millions of dollars in recent years to front-line environmental groups that are campaigning against fossil-fuel projects, including LNG terminals that have been proposed on the Gulf Coast, according to people familiar with the effort. Some green funders hadn’t given much attention to the LNG exports until recently, in part because of ambivalence about the role natural gas should play in the energy transition. Plus, some previous campaigns to kill LNG terminals had been unsuccessful, damping some donors’ and large environmental organizations’ appetite for taking on the industry. The billionaire-backed campaign, starting around four years ago,
worked to identify and fund community leaders already campaigning against fossil-fuel projects. The activists buttonholed White House and federal officials in Washington, Houston and Dubai as part of a high-intensity grassroots campaign. "
Incompetence or malice? The question behind every Team Biden attack on American energy. ** And there are quite a few... ([link removed])
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Energy Markets
WTI Crude Oil: ↑ $75.54
Natural Gas: ↓ $1.95
Gasoline: ↑ $3.15
Diesel: ↑ $3.94
Heating Oil: ↑ $286.17
Brent Crude Oil: ↑ $80.93
** US Rig Count ([link removed])
: ↑ 657
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