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DAILY ENERGY NEWS | 03/15/2024
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** It only took The New York Times three months to acknowledge the reliability problem identified by NERC (due to the very policies they have been proselytizing for years). But of course, they fail to acknowledge that less reliable, more expensive electricity is a feature (and not a bug) of the Green New Deal.
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New York Times ([link removed]) (3/14/24) reports: "Something unusual is happening in America. Demand for electricity, which has stayed largely flat for two decades, has begun to surge. Over the past year, electric utilities have nearly doubled their forecasts of how much additional power they’ll need by 2028 as they confront an unexpected explosion in the number of data centers, an abrupt resurgence in manufacturing driven by new federal laws, and millions of electric vehicles being plugged in. Many power companies were already struggling to keep the lights on, especially during extreme weather, and say the strain on grids will only increase. Peak demand in the summer is projected to grow by 38,000 megawatts nationwide in the next five years, according to an analysis by the consulting firm Grid Strategies, which is like adding another California to the grid...The stakes are high. If more power isn’t brought online
relatively soon, large portions of the country could risk blackouts, according to a recent report by the North American Electric Reliability Corporation, which monitors the health of the nation’s electric grids."
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** "Meat production is hard on the planet."
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– Madeleine Aggeler, The Guardian ([link removed])

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Republicans pounce on Democrats subverting institutional neutrality with political messaging.

** E&E News ([link removed])
(3/14/24) reports: "House Republican leaders spent a reported $40,000 in January to replace the official pin given to all members to show they had been sworn into the 118th Congress — a midterm expense driven by a confluence of factors, including that members on both sides of the aisle didn’t like the color. Behind the decision to throw out the pin issued to 435 lawmakers: politics. Republicans believed that the outgoing Democratic majority of the 117th Congress picked the bright green color in honor of the Green New Deal, a progressive policy conservatives revile. 'I heard some guys and gals grumbling that it’s an environmental tribute or something like that — which, hey, I like the color green, I have a lot of John Deere equipment in that color,' said Rep. Doug LaMalfa (R-Calif.), a rice farmer who serves on the committees on Agriculture and Natural Resources. 'But those of us in resource-based districts get really tired of how big environment groups are already kicking our heads in over
how bad we are. … I think there’s some fatigue about the environment being used as a weapon.' Those suspicions were echoed by more than a half-dozen other lawmakers, who were granted anonymity to share details of private conversations. It turns out the suspicions were right. Rep. Zoe Lofgren (D-Calif.), who was chair of the House Administration Committee in the previous Congress, helped choose the pin design for the current Congress. The committee has jurisdiction over developing and issuing the pins. She told E&E News she had, in fact, picked green for its environmental connotations."

Translation: We will let you have more children as long as you give us control of the economy.

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Is the fourth time the charm?

** Reuters ([link removed])
(3/14/24) reports: "The International Energy Agency on Thursday raised its view on 2024 oil demand growth for a fourth time since November as Houthi attacks disrupt Red Sea shipping, though it remains far less bullish than producer group OPEC. The Organization of the Petroleum-Exporting Countries (OPEC) and the IEA, which represents industrialized countries, have clashed in recent years over issues such as the long-term oil demand outlook and the need for investment in new supply. World oil demand will rise by 1.3 million bpd in 2024, the IEA said in its latest report, up 110,000 bpd from last month. It forecast a slight supply deficit this year after OPEC+ members extended cuts, from a surplus previously. Brent crude oil rose as much as 80 cents a barrel towards $85 after the IEA report was released, touching its highest since November."

If you oppose carbon taxes masked as a tariff on China, ** join our coalition (mailto:[email protected])
.

** ([link removed])

Tom Pyle, American Energy Alliance
Myron Ebell, American Lands Council
Daren Bakst, 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: ↓ $80.96
Natural Gas: ↓ $1.69
Gasoline: ↑ $3.43

Diesel: ↑ $4.03
Heating Oil: ↑ $272.80
Brent Crude Oil: ↓ $85.17
** US Rig Count ([link removed])
: ↓ 640



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