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DAILY ENERGY NEWS | 02/09/2024

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From the halls of Capitol Hill to the plains of Texas, get the latest on the Unregulated Podcast. This week the team is joined by Greg Sindelar of the Texas Public Policy Foundation. Now streaming on our website, or wherever you listen.

"Without the U.S., global incremental LNG supply will be heading to energy-starved Asia and we could be, literally, be leaving Europe in the dark. Europe’s gas storage infrastructure is hardly sufficient, it covers just a third of winter demand, thus we need many more LNG facilities to help our friends there in winter especially."

– Jude Clemente, Forbes

"Clean" EVs at home just outsource the environmental degradation to the developing world. Nothing is free...

Wall Street Journal (2/4/24) reports: "A few years ago, Indonesia set out to turn its treasure trove of nickel into an electric-car manufacturing boom. It imposed a sweeping ban on the export of raw nickel. That meant that companies wanting to tap the world’s largest source of the mineral—used in the most powerful type of EV batteries—would have to build smelters in Indonesia. Officials bet that factories to make EV batteries and entire electric cars would also follow, spawning end-to-end supply chains close to the mineral bounty. The smelters came, and Indonesia’s nickel industry witnessed explosive growth. But powering it is a coal binge that is throwing off the country’s climate goals. And Indonesians are still waiting for EV makers to lay down production lines...Nickel smelters have led to a surge in coal use, with new coal plants coming up at a time when the world is trying to phase out the fossil fuel. A January report by Climate Rights International, a U.S. environmental group, said that a single nickel-focused industrial park located on eastern Indonesia’s Maluku islands will burn more coal than Spain or Brazil when it is fully operational. 'We are sacrificing the environment and society, while at the same time getting limited profits for the country,' Muhaimin Iskandar, a vice-presidential candidate in the coming election, said during a televised debate with his political opponents."

...Especially dispatchable, reliable energy.

Bigger isn’t always better.

Politico (2/8/24) reports: "General Electric plans to scrap plans for a massive new offshore wind turbine in a setback to a trio of projects in New York state that had planned to use it. The Boston-based manufacturer had planned to build an 18-megawatt turbine at the Port of Coeymans in New York but will instead use a 15-MW turbine. Three projects that won contracts last year to sell power to New York based their bids on the availability of the 18-MW turbine. The switch has the potential to alter the economics and environmental impact of the projects, industry sources said. Developers will need to install more turbines to deliver the same amount of electricity to New York, potentially increasing projects' costs and footprint. 'It’s fair to say it implies a greater project cost,' said Timothy Fox, an analyst who tracks the industry at ClearView Energy Partners. But, he added, 'this is unlikely to be a significant setback. It seems surmountable.'"

If you oppose a carbon tax, take a stand and contact us.

Tom Pyle, American Energy Alliance

Myron Ebell, Competitive Enterprise Institute

Phil Kerpen, American Commitment

Andrew Quinlan, Center for Freedom and Prosperity

Grover Norquist, Americans for Tax Reform

George Landrith, Frontiers of Freedom

Thomas Schatz, Citizens Against Government Waste

Richard Manning, Americans for Limited Government

Adam Brandon, FreedomWorks

Craig Richardson, E&E Legal

Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Annette Meeks, Freedom Foundation of Minnesota
Isaac Orr, Center of the American Experiment
David T. Stevenson, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America
Jon Sanders, John Locke Foundation

Energy Markets

WTI Crude Oil: ↑ $76.49
Natural Gas: ↓ $1.85
Gasoline: ↑ $3.16

Diesel: ↑ $3.96
Heating Oil: ↑ $293.60
Brent Crude Oil: ↑ $81.72
US Rig Count: ↓ 648

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