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DAILY ENERGY NEWS | 04/04/2024
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** As if inflation wasn't bad enough, Team Biden is determined to increase the prices of anything transported by truck (everything).
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Daily Caller ([link removed]) (4/3/24) op-ed: "In their continuing quest to electrify the U.S. automotive fleet against the clear will of the American people, the zealots in the Biden administration rolled out their new requirements related to heavy trucks on Good Friday. Amazingly, they did it in a way that will make the mandates even more expensive than the trillions of dollars their passenger car mandates will cost the American economy. That’s quite an accomplishment. Biden’s Environmental Protection Agency (EPA) is mandating that 60% of urban delivery trucks and 25% of heavy rig sales become electric by 2032. Never mind the overwhelming challenges achieving this goal faces in terms of infrastructure, manufacturing, and supply chains for equipment and critical energy minerals, the dogma of the global church of climate alarmism orders its true believers to 'do something,' and this is the something the
EPA bureaucrats are choosing to do. According to the Institute for Energy Research (IER), the cost of a new electric 18 wheeler is 'two to three times' the price of a new diesel rig, which is one of myriad reasons why this conversion would never take place unless forced by government mandate. IER points out that these new requirements will require the trucking industry to invest $620 billion for charging infrastructure, and 'will likely cost utilities $370 billion to upgrade their networks. Replacing diesel trucks with electric will cost the trucking industry tens of billion dollars each year and truckers will need to pass these costs on to the customers–manufacturers and retailers, who will pass the higher costs on to Americans in higher prices for merchandise.'"
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** "It’s time that both parties refused to penalize the American energy that underpins our national security, our economic prosperity, and our daily lives. Let’s have more common sense in Washington. The American people deserve it."
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– Carla Sands, America First Policy Institute ([link removed])
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Pushing wildly unpopular mandates has consequences in a system where people vote.
** Washington Times ([link removed])
(4/3/24) reports: "Senate Democrats in battleground states are the target of a new seven-figure ad campaign hitting them for President Biden‘s plan to phase out gas-powered cars. The ad campaign launched Wednesday by American Fuel & Petrochemical Manufacturers (AFPM) urges voters in seven Senate battleground states to urge lawmakers to repeal the de facto electric vehicle mandate. Those states are Michigan, Pennsylvania, Wisconsin, Arizona, Nevada, Ohio and Montana. It is AFPM’s second campaign targeting vulnerable Senate Democrats. The EPA regulation, which seeks to combat climate change by reducing emissions, put swing-state Democrats in the hot seat. Several vulnerable Senate Democrats recently told The Washington Times they were against the EPA rule or did not want to discuss it...The nonpartisan election forecaster Cook Political Report on Wednesday moved the Nevada Senate race in the GOP’s favor, shifting the contest between Sen. Jacky Rosen and Republican Sam Brown from /lean
Democrat' to 'toss-up.' The ratings analysis concluded Ms. Rosen 'lacks an established brand to outrun Biden‘s lagging numbers.'"
And who, pray tell, is responsible for the Department of Energy?
** ([link removed])
Things are getting bad when Team Biden can't even count on Politico to run interference for their Green New Deal.
** Politico ([link removed])
(4/3/24) reports: "The nation’s electric grid is in trouble. Artificial intelligence, cryptomining, electric vehicles, and home heating and cooling needs are driving up the demand for energy at an alarming pace, writes Peter Behr. At the same time, poor planning means coal- and natural-gas-fired power plants are retiring faster than new solar and wind power can replace them. Officials in charge of running the grid say they worry the result will be widespread blackouts, especially during extreme weather events worsened by climate change...President Joe Biden set a goal to zero out carbon emissions in the power sector by 2035, and he’s thrown billions of dollars behind that shift to clean energy technology. But in most cases, energy markets and distribution utilities haven’t been willing to pay a premium to accelerate the arrival of supplies of clean power, speakers at the conference said. Moving from a fossil-fueled grid to one powered by wind, solar, battery storage and other advanced
energy technologies will also require more high-voltage transmission systems. Multiple analyses found that the amount of interregional transmission capacity would have to double or triple by 2035 to meet Biden’s goal."
Energy Markets
WTI Crude Oil: ↓ $85.16
Natural Gas: ↓ $1.83
Gasoline: ↑ $3.56
Diesel: ↑ $4.03
Heating Oil: ↓ $272.11
Brent Crude Oil: ↓ $89.16
** US Rig Count ([link removed])
: ↑ 649
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