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DAILY ENERGY NEWS | 02/13/2024
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** Commissioner Glick is gone. Commissioner Clements is leaving. The pipeline statements lie dormant. The [DEL: acting :DEL] Chairman is a reasonable man who understands the importance of electricity reliability. Not bad for a "debunked" accusation from "conservative media groups" (whatever that means).
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Politico ([link removed]) (2/13/24) reports: "The nation’s powerful energy regulator is poised to lose its biggest climate advocate and potentially shut down one of the White House’s best avenues to push its green policies. Allison Clements told POLITICO last week she won’t seek another term on the Federal Energy Regulatory Commission, the agency crafting rules that could have a massive impact on the nation’s efforts to upgrade the power grid. That buildout is needed to accommodate a huge backlog of wind and solar projects that are critical to meeting the Biden administration’s climate and clean energy goals...Clements, who has a background as an environmental attorney, often drew the ire of Capitol Hill Republicans. During a hearing on Capitol Hill last year, Sen. Josh Hawley (R-Mo.) pressed her on a largely debunked accusation from conservative media groups that her attendance at a clean energy group foundation’s dinner was
improper. Clements had argued the meeting did not violate FERC’s ethics rules, an assertion backed by the agency’s ethics office. In an email, former FERC Chair Glick sympathized with the criticisms Clements has faced as an outspoken regulator on clean energy, relating it to his own efforts to address climate issues that likely contributed to his ousting from the commission over a year ago."
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** "U.S. policymakers should heed warnings from Europe, and embrace a policy of making American electricity once again the most reliable and affordable on Earth."
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– Mario Loyola, Heritage Foundation ([link removed])

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The only group that was "acting" in this situation was the White House. Congratulations, Chairman Phillips.

** Marcellus Drilling News ([link removed])
(2/12/24) reports: "The Bidenistas at the White House kept Federal Energy Regulatory Commission (FERC) Chairman Willie Phillips on a VERY short chain for a VERY long time. Phillips was named 'Acting' Chairman of FERC in January 2023 when Richard 'Dick' Glick exited stage left (see Willie Phillips Takes Over as Acting FERC Chairman, Dick Glick Gone). FERC could not produce the documentation to confirm Phillips’ appointment as Acting Chairman for more than eight months. Finally, under threat of a lawsuit and a court order from the Institute for Energy Research (IER), FERC (or rather the White House) produced a short one-page letter signed by Biden that said Phillips is full-blown Chairman, with no “Acting” in the title (see Turns Out Willie Phillips Isn’t Just Acting – He’s FERC Chairman). A few days later, the White House reversed course and said Phillips is still just Acting (see Biden Flip Flop – FERC’s Phillips Still Just 'Acting' Chairman). Finally, after over a year, Phillips is no
longer just Acting."

The EU loves those products from Communist China.

** The Economist ([link removed])
(2/8/24) reports: "A banner running down the side of the European Commission’s headquarters in Brussels depicts cartoon workers recladding its 13-floor façade with solar panels. The illustration might come across as a cruel joke to residents of the Belgian capital, for whose leaden skies the phrase 'fifty shades of grey' could have been coined. But thanks to green edicts devised by the Euro-wallahs at the commission, the continent’s fields and rooftops are being paved with very real photovoltaic cells...By 2030 the bloc is aiming to triple the number of solar panels installed, thus covering an area bigger than 300,000 football pitches, two dozen times the size of Paris. The sizzling solar sector has been an unexpected ray of hope for a continent still reeling from the cut-off of Russian gas. But amid the cheering some are squealing for help. Companies that make solar panels in Europe are teetering on the brink of failure; the outlook for them is not so much cloudy as apocalyptic. For the
European solar boom is in truth a repackaged Chinese one: 95% of modules installed in the eu are imported from the world’s dominant producer, which can churn them out at unbeatable prices. This makes policymakers anxious. Part of the case made to voters sceptical of the need for an economy-disruptive ecological transition was that going green would do more than merely fend off climate change. It was also meant to make Europe more resilient—less dependent on Russian gas, say—and create lots of new jobs. Does meeting ecological targets with containers full of Chinese solar panels merely change the autocratic regime Europeans will depend on, and crush employment to boot?"

How is this possible? We were assured the earthquakes in California would stop with the fracking ban.

** San Francisco Gate ([link removed])
(2/13/24) reports: "A series of earthquakes — the biggest a tremor with a preliminary magnitude of 4.8 — hit El Centro, Calif., Monday morning and gave Imperial and San Diego counties a load of little shakes, according to the U.S. Geological Survey. The tremors just kept coming as the day continued. All of this rumbling in an area of California near the Mexico border is the result of 'an active earthquake swarm,' said Stephen DeLong, a supervisory research geologist with the USGS. 'It is likely happening on the southern San Jacinto fault,' DeLong wrote in an email. 'There are several active faults in this area, which can be considered to be near the southern end of the San Andreas fault system. The first big quake struck with a depth of 11 miles about 110 miles east of San Diego at 12:36 a.m. Since the first quake, there have been 29 earthquakes of magnitude 2.5 and above reported in the same area, as of late Monday morning. Of those, a dozen were quakes of magnitude 3.0 and above, one
was magnitude 4.5 quake and another magnitude 4.1.'"

Energy Markets


WTI Crude Oil: ↑ $77.34
Natural Gas: ↓ $1.68
Gasoline: ↑ $3.22

Diesel: ↑ $4.04
Heating Oil: ↓ $290.37
Brent Crude Oil: ↑ $82.36
** US Rig Count ([link removed])
: ↑ 681



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