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DAILY ENERGY NEWS | 03/06/2024
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** Just a reminder that while you may be enamored by Elon Musk the CEO of X/Twitter, Elon Musk the CEO of Tesla is still the greatest showman since P.T. Barnum.
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CNN ([link removed]) (3/3/24) reports: "Back in 2019, Elon Musk made an astonishing claim for Tesla vehicles. Tesla cars, he said, would go up in value, not down, after purchase. The reason for that is Tesla’s full self-driving capability that, Musk has said, requires only some additional software updates and regulatory approval before Tesla vehicles on the road today will become fully independent. He repeated this claim as recently as June 2023. 'You can think of every car we sell or produce that has full autonomy capability as something that in the future may be worth five times what it is today,' he said in the company’s third quarter, 2023, earnings call. And not only would the price of a used Tesla go up, but Musk also predicted a world in which Tesla’s driver assistance suite, which the company calls 'Full Self-Driving' despite not fully self-driving the vehicle, would on its own be worth $100,000. Because, with
regulatory approval, your self-driving Tesla would be able to go 'work' as a taxi on your behalf. All you’d have to do is sit back and collect the cash. But four years after Musk’s 2019 prediction, the average used Tesla Model 3 is selling for $29,000. And regulatory approval for FSD has not arrived, either, as the company incrementally attempts to improve the software...Brayden Wall, who lives in Colorado, bought a used 2020 Tesla Model 3 about two years ago for $51,000. He recently offered it at a Tesla dealership as a trade in, he said, and was offered only $22,000 for it."
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** "The big problem with wind and solar power, of course, is that they don't work when the wind doesn't blow or the sun doesn't shine. Sometimes that happens when people most want heat or air conditioning. Increased use of 'renewables' is why blackouts are more common in California. Bloomenergy says there were over 25,000 in 2019—thousands more than the previous year.
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– John Stossel, Reason ([link removed])

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Why do all these private corporations want "stronger action from policymakers"? Whatever happened to good old competition in a free market? And as an aside, how in the hell does Uber think they will ever be net-zero? They are in the transportation business.

** Bloomberg ([link removed])
(3/6/24) reports: "Uber Technologies Inc. set a goal at the beginning of the decade for 100% of its rides in US, Canadian and European cities to take place in electric vehicles by 2030. Early this year, its chief executive officer cast some doubt on the practicality of that pledge. 'The stark reality is that Uber will not reach our zero-emission goals without stronger action from policymakers and businesses,' CEO Dara Khosrowshahi wrote in a Fast Company column. 'Unfortunately, right at the moment we need to accelerate through the turn, many governments and automakers are slowing down.' Examples of the deceleration Khosrowshahi was referring to were manifold the last six months. UK Prime Minister Rishi Sunak extended a longer leash to internal combustion engines, and the European Union drafted rules allowing cars to run on e-fuels. Volkswagen AG, Toyota Motor Corp. and Ford Motor Co. are among the carmakers that have pared back EV sales or production plans, and in some cases even pulled the
plug on projects."

Folks, we're going to miss him.

** ([link removed])

If there is one activity Hunter Biden excels at it's running cover for the big guy, intentionally or otherwise...

** E&E News ([link removed])
(3/6/24) reports: "House Republicans have investigated Hunter Biden for more than a year. They have launched a wide-ranging impeachment inquiry into his father, President Joe Biden. But some energy advocates and other Hill observers are worried those efforts have come at the expense of rigorous oversight of the administration’s energy and environment policies. Critics say the Hunter Biden probe has sucked up time and staff resources across three House committees — Oversight and Accountability, Judiciary, and Ways and Means. They argue that the result has been missed opportunities to scrutinize a target-rich environment, including implementation of Democrats’ landmark climate law, the Inflation Reduction Act. 'Team Biden is clearly trying to spend as much of the green giveaways in the IRA as they can before the election in case it goes bad for them,' said Tom Pyle, president of the pro-fossil fuel American Energy Alliance. 'The [Oversight] committee needs to step up and put some guardrails
around that. I fear that the Hunter investigation, while important, may be distracting them to some extent from that type of important oversight,' he added. That sentiment was echoed by Myron Ebell, an outspoken critic of mainstream climate science who recently retired from the right-wing Competitive Enterprise Institute."

Energy Markets


WTI Crude Oil: ↑ $79.82
Natural Gas: ↓ $1.96
Gasoline: ↑ $3.38

Diesel: ↑ $4.05
Heating Oil: ↑ $263.08
Brent Crude Oil: ↑ $83.26
** US Rig Count ([link removed])
: ↓ 651



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