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DAILY ENERGY NEWS | 04/02/2024
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** Lawmakers in Colorado make an impressive deviation from their long losing streak on energy issues.

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Colorado Sun ([link removed]) (3/29/24) reports: "A bill to ban new oil and gas drilling in Colorado after 2030 — which sparked a spate of industry TV ads with dire warnings — was rejected Thursday by a bipartisan majority of the Senate Agriculture and Natural Resources Committee after a marathon hearing. The legislation, Senate Bill 159 — sponsored by two Democratic senators, Kevin Priola, of Henderson, and Sonya Jaquez Lewis, of Boulder County — would have required state oil and gas regulators to stop issuing new drilling permits starting in 2030, with those permits to be used by 2032. Faced with projections of potentially severe impacts of climate change and the Front Range’s continuing struggles to curb ozone pollution, the bill was a necessary step to transition to cleaner energy, Priola said. In an attempt to deal with the growing risk of wells being abandoned, or orphaned, as small companies go out of business,
the legislation also included a section giving the state the power to go after former owners of the wells for cleanup costs. The bill, however, faced pushback at the hearing from the industry, local and country governments, which depended upon severance taxes to fund schools and services, business groups, such as the Denver Metro Chamber of Commerce, and individuals, many of whom live and work in oil and gas areas."
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** "There is no 'need' for the EPA’s vehicle electrification program if most consumers actually want what the agency will force automakers to sell. But most consumers do not want to buy an EV, which is why unsold EVs are piling up on dealer lots despite significant federal, state, manufacturer, and dealer incentives."
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– Marlo Lewis, Jr., Competitive Enterprise Institute ([link removed])

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Hope everyone got a generator in their Easter basket.

** Wall Street Journal ([link removed])
(3/28/24) editorial: "President Biden and the press keep raising alarms about a climate crisis that his policies can’t do much about. Yet in the meantime they’re ignoring how government climate policies are contributing to a looming electric-grid crisis that is more urgent and could be avoided. These pages have been warning for years about an electric-power shortage. And now grid regulators and utilities are ramping up warnings. Projections for U.S. electricity demand growth over the next five years have doubled from a year ago. The major culprits: New artificial-intelligence data centers, federally subsidized manufacturing plants, and the government-driven electric-vehicle transition. Georgia Power recently increased 17-fold its winter power demand forecast by 2031, citing growth in new industries such as EV and battery factories. AEP Ohio says new data centers and Intel’s $20 billion planned chip plant will increase strain on the grid. Chip factories and data centers can consume 100 times
more power than a typical industrial business...Baseload plants can’t turn a profit operating only when needed to back up renewables, so they are closing. This was the main culprit for Texas’s week-long power outage in February 2021 and the eastern U.S.’s rolling blackouts during Christmas 2022. The media will discover this problem eventually, though not this year if it might call into question Mr. Biden’s climate agenda. Perhaps they’ll notice when more blackouts arrive."

Team Biden is mandating these firebombs into 2/3 of American households in the next decade. Is your local fire department ready?

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Even if you take their climate concerns at face value, Team Biden's LNG export ban doesn't hold up to a reality check.

** The Federalist Society ([link removed])
(3/27/24) article: "The Biden-Harris Administration recently interrupted the normal, export-friendly operation of the Natural Gas Act, triggering a lawsuit against the administration by fifteen states. The White House announced 'a temporary pause on pending decisions on exports of Liquefied Natural Gas (LNG) to non-FTA [non-Free Trade Agreement] countries until the Department of Energy can update the underlying analyses for authorizations.' The announcement makes clear from the outset that the pause is motivated by concerns about global climate change, which the Biden Administration has called 'the existential threat of our time.' This raises a question: Are the new 'environmental analyses' of climate change that the administration is expected to propose actually needed to inform the Department of Energy’s export authorization decisions? No. Because the environmental analysis contemplated by the announced 'pause' on LNG exports would obtain information beyond the Department of Energy’s
jurisdiction, that analysis is unnecessary...The global growth of LNG has led to reductions in greenhouse gas emissions. In the United States, improvements in LNG production technology have reduced domestic greenhouse gas emissions even as production of natural gas has increased. [David W. Kreutzer & Paige Lambermont, ** The Environmental Quality Index: Environmental Quality Weighted Oil and Gas Production ([link removed])
, Inst. for Energy Research]."

It's nice when the greens periodically remind everyone their actual goal is zero cars.

** Car Scoops ([link removed])
(4/1/24) reports: "Members of the climate activism group Extinction Rebellion were forcibly removed from the 2024 New York International Auto Show this weekend, after pouring what appears to be oil on an electric vehicle, as well as the show floor, while shouting that there are 'no EVs on a dead planet.' The protestors stepped in front of an all-electric Ford F-150 Lightning modified to tackle off-road conditions. The pickup truck had just been rolled out in front of a crowd of people as the auto show opened to the public. While it may seem counterintuitive, the group said it wasn’t protesting automotive enthusiasts, but rather the EV industry. 'We are not protesting car lovers, we are protesting car dependence,' said Mark Graham, an Extinction Rebellion activist who participated in the action. 'The vast majority of auto-based emissions, during both production and use, are caused not by people who want to drive, but by those who have no choice but to drive.'"

Energy Markets


WTI Crude Oil: ↑ $84.94
Natural Gas: ↓ $1.78
Gasoline: ↓ $3.53

Diesel: ↑ $4.02
Heating Oil: ↑ $266.83
Brent Crude Oil: ↑ $88.51
** US Rig Count ([link removed])
: ↓ 642



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