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DAILY ENERGY NEWS | 03/20/2024
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** Bongo, bongo, bongo, I don't want a civilization dependent on China and the Congo, oh no, no, no, no, no.
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Mining.com ([link removed]) (3/19/24) reports: "The US looked into buying cobalt for defence stockpiles last year, three sources with knowledge of the matter said, adding the Defense Logistics Agency (DLA) could consider purchases in future despite deciding against them in its latest plan. Any increase in cobalt holdings would be aimed at reducing reliance on China, which dominates the processing of the material used to make missiles, aerospace parts, magnets for communication, and radar and guidance systems. Cobalt is also used to make the batteries that power electric vehicles, a key plank of the energy transition...Most of the cobalt mined in Congo, amounting to 77% of global supplies or more than 170,000 tons last year, according to Darton Commodities, was exported to China for processing into metal or chemicals for batteries. The NDS 'lacks sufficient cobalt reserves, endangering America’s critical mineral
supply chain,' the letter said, adding that: “From approximately 13,000 tons during the Cold War, cobalt in the Stockpile is now estimated at 333 tons.' 'In practical terms, the total cobalt stockpile is only 5 percent of annual US consumption.'"
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** "Despite the clear benefits of fossil fuels, green activists demand that we 'leave (them) in the ground and learn to live without them.' That’s the language of degrowth. Learn to notice it when you hear it."
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– Jason Hayes, The Mackinac Center ([link removed]*9u9nvu*_ga*MzA1MTM0MzYzLjE3MTA5NDA2OTY.*_ga_4Q607QFF7P*MTcxMDk0MDY5NS4xLjEuMTcxMDk0MDcwNC4wLjAuMA..)

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If solar is so cheap, why do we need to increase subsidies for it?

** Reuters ([link removed])
(3/20/24) reports: "U.S. efforts to build a domestic supply chain for solar energy components is stalled and will require urgent government action to support the factories needed to compete with China, according to a report published on Wednesday. The analysis by Guidehouse Insights, commissioned by the Solar Energy Manufacturers for America Coalition, said existing federal subsidies and trade policies are not enough to help U.S. producers succeed in the face of a global glut of solar equipment. Many in the U.S. solar industry worry that the dozens of factories announced since passage of President Joe Biden's signature climate change law in 2022 may be uneconomical as global panel prices have collapsed due to a wave of new Asian production capacity. 'The biggest thing that we're looking for is a sense of urgency and a renewed commitment to achieving this goal,' SEMA Coalition Executive Director Mike Carr said in an interview. 'There's no fundamental reason why we can't have this industry
here, but it does take a level of commitment and a willingness to keep the pressure up and respond to changing circumstances.' Though the Inflation Reduction Act (IRA) unleashed billions of dollars in clean energy subsidies, the report recommends more coordinated federal support for domestic solar factories."

Actually, Secretary Haaland, you have directed DOI decisions to be grounded in "climate security, equity, environmental justice and Indigenous Knowledge" before science is to be considered. Just one of ** 200 ways Team Biden has made it harder ([link removed].)
for oil & gas producers to do their jobs.

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Hey autoworkers! Team Biden says your "Free Ride" is over! We're you aware you were on a vacation?

** E&E News ([link removed])
(3/19/24) reports: "The Biden administration released one of several coming car regulations Tuesday, a clean vehicle formula designed to push automakers to build more fuel-efficient or electric vehicles. The Department of Energy softened its 'petroleum equivalency factor' after complaints from the car industry, though environmentalists said the final rule is still strict enough to move auto fleets in a more fuel-efficient direction. 'The automakers’ free ride is over,' said Pete Huffman, a senior attorney at the Natural Resources Defense Council. 'This important update from the Department of Energy will curtail automakers’ use of phantom credits they used to keep selling gas guzzlers. They now need to hit the accelerator on more fuel-efficient vehicles, saving consumers money at the pump.' Tuesday’s clean car regulation is the first of four rules scheduled that could be announced in the next several weeks to propel the Biden administration’s plan to electrify large parts of the
transportation system. EPA is expected to release its tailpipe standards for cars and light-duty trucks as soon as tomorrow, which could result in about two-thirds of new cars being electric by 2032. A similar standard for heavy-duty trucks is expected in the next few weeks...Former President Donald Trump has lashed out at Biden for the “all-electric nonsense” in an effort to win over unionized auto workers. Over the weekend he predicted a “bloodbath” if he doesn’t get reelected. The remark was widely criticized for hinting at violence, but it also referred to the possibility that low-cost Chinese EVs could flood the country."

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Energy Markets


WTI Crude Oil: ↓ $81.99
Natural Gas: ↓ $1.71
Gasoline: ↑ $3.51

Diesel: ↑ $4.05
Heating Oil: ↓ $269.89
Brent Crude Oil: ↓ $86.13
** US Rig Count ([link removed])
: ↑ 649



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