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DAILY ENERGY NEWS | 04/03/2024
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** Who needs to pass legislation when you can just get a couple of old white dudes to do your bidding for you...
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Wall Street Journal ([link removed]) (4/2/24) editorial: "Who says Rep. Alexandria Ocasio-Cortez has no influence? Her vision to mobilize a government Climate Corps to promote green politics is becoming a reality. President Biden wants to shrink the real Army, but his budget includes more than $8 billion for a domestic green political army. The political model is FDR’s Civilian Conservation Corps, which paid Americans to work when nearly one in four were jobless. The U.S. now has a labor shortage, but the Biden Administration wants to mobilize more than 20,000 initially for the Climate Corps—and some 50,000 by 2031. Ms. Ocasio-Cortez and Massachusetts Sen. Ed Markey want the Climate Corps to employ 1.5 million over five years. 'This is not summer camp for climate activists. It’s a job-training program,' says Trevor Dolan of Evergreen Action, a green nonprofit that has lobbied for the Climate Corps. He says participants
will learn to install electric heat pumps, solar panels, EV charger and pollution-monitoring equipment, fight forest fires, do wellness checks on the elderly during heat waves and help communities develop disaster plans, among other tasks. The Sunrise Movement, another far-left outfit, says the Climate Corps can 'raise the bar for all employment' and 'allow us to use the government as a way of designing our own society and setting new norms for the workplace.' Ah, yes, a children’s crusade to remake America—paid for by your tax dollars."
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** "The total cost of energy credits in the IRA is an unstable number with no reasonable cap. The energy credits are subject to a wide range of variables, and they could persist for decades. Understanding the implications of the IRA for tax and budget policy requires going beyond the typical 10‐​year budget window, as the IRA itself does."
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– Travis Fisher, Cato Institute ([link removed])

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“Transition risk” is mafia language. Investment fund managers, not investors, are increasing attention to climate change (and using other people's money to advance their agenda).

** Science Daily ([link removed])
(4/2/24) reports: "A pioneering study from the University of Florida has quantified corporations' exposure to climate change risks like hurricanes, wildfires, and climate-related regulations and the extent to which climate risks are priced into their market valuations. The research also exposes a costly divide -- companies that proactively manage climate risks fare much better than those that ignore the threats. Using textual analysis of earnings call transcripts from almost 5,000 U.S. public companies, researchers developed novel measures of firms' physical climate risk exposure from weather extremes as well as the 'transition risks' that firms face from the global shift to a low-carbon economy, like shifting to renewable energy and reduced carbon emissions. They found companies facing high transition risks from things like emissions regulations tended to be valued at a discount by investors. "In recent years, overall investor attention to climate change has increased," explained Qing Li,
Clinical Assistant Professor at the University of Florida Warrington College of Business...The findings come amid increasing pressure from investors, regulators and activists for companies to publicly disclose climate risks. In 2024, the SEC implemented new rules that require public corporations to report risks from climate change impacts and in some cases their greenhouse gas emissions."

Joe Biden is such a shrewd negotiator. He's considering trading Ukraine aid for lifting his LNG ban despite the fact that he still hasn't figured out who gave the order in the first place.

** Reuters ([link removed])
(4/2/24) reports: " U.S. officials are open to ending President Joe Biden's pause on approvals of liquefied natural gas exports to get a Ukraine aide package passed in Congress but want to wait to see the entire proposal before making any decisions, two White House sources said on Tuesday. Biden, a Democrat, in late January had paused approvals for pending and future applications to export the supercooled fuel after protests about the booming industry from activists concerned about its impact on climate change. Republican U.S. House of Representatives Speaker Mike Johnson suggested on Fox News on Sunday that reversing Biden's pause on LNG export approvals could make it easier for his party to support a new aid package for Ukraine's fight against Russia. 'We want to have natural gas exports that will help unfund (Russian President) Vladimir Putin's war effort there,' said Johnson, from Louisiana, a state rich in gas production and LNG projects."

It's science.

** Daily Caller ([link removed])
(4/2/24) reports: "A questionable study by a Cornell University climate scientist gave climate activists and the media ammunition to wage a pressure campaign against the Biden administration to take action against liquefied natural gas (LNG) exports.Cornell’s Robert Howarth authored the October 2023 study, which purported to find that lifecycle emissions associated with LNG exports are far greater than those attributable to domestically-mined coal. Numerous media outlets, including The New York Times, amplified the study, and climate activists lobbying the Biden administration to kill LNG exports cited it as evidence to substantiate their position before the White House announced the moratorium on LNG export terminal approvals on Jan. 26...Howarth, who openly opposes the use of fossil fuels, admitted to releasing his study before it was peer-reviewed in order to influence the LNG export debate...Howarth said environmental activist Bill McKibben was the one who convinced him to release the
study before it underwent the months-long peer review process. McKibben himself wrote about the study in The New Yorker in October 2023, touting it as evidence that the Biden administration should not expand LNG export capacity...After McKibben published his piece for The New Yorker and Howarth released the study to the public, the duo joined a November 2023 press call alongside several climate activists and Democratic lawmakers — including Oregon Sen. Jeff Merkley — to talk about the issue of LNG exports, according to E&E News."

Let's be clear: Just about everything Pothole Pete said about EVs prior to trashing everyday Americans (for not wanting to buy them) was incorrect.

** ([link removed])

As you can see, Secretary Pete clearly has his finger on the pulse of everyday Americans.

** YouGov ([link removed])
(3/29/24) reports: "A majority of U.S. adult citizens say they don't own — and would not consider buying — an electric car, and many doubt electric cars are more efficient or better for the environment than traditional gas cars. The Economist / YouGov Poll conducted March 24 - 26, 2024 asked 1,594 Americans about climate change, electric vehicles, and the EPA's new emissions standards that will push automakers to release more low-emissions vehicles. The poll found considerable skepticism about electric cars among much of the American public, and limited direct experience with the technology. Just 4% of Americans have ever owned an electric vehicle, compared to 8% who have owned a hybrid vehicle and 83% who've owned a gas vehicle. Even among the 61% of Americans who believe that 'the world's climate is changing as a result of human activity,' only 58% say they would consider buying an electric car or have already bought one. Among Americans who don't believe human-caused climate change is
occurring, less than 20% say they own or would consider owning an electric car."

Energy Markets


WTI Crude Oil: ↑ $278.60
Natural Gas: ↓ $1.86
Gasoline: ↑ $3.54

Diesel: ↑ $4.02
Heating Oil: ↑ $276.57
Brent Crude Oil: ↑ $89.71
** US Rig Count ([link removed])
: ↓ 636



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