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DAILY ENERGY NEWS | 04/08/2024
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** 🎶 I don't know what to do and I'm always in the dark...🎶
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E&E News ([link removed]) (4/5/24) reports: "Monday’s total solar eclipse will offer U.S. power grid operators a chance to help answer a pressing question: What happens to a solar-rich grid when there’s suddenly no sunlight? Grid planners aren’t expecting power shortages because of the eclipse, when the moon will block the sun and create a path of total darkness running from Texas to Maine. Operators contacted by E&E News say they’ve been preparing for months and will have ample supply to cover any lost solar generation. Those losses could be significant. In Texas — where eclipse coverage will range from 81 percent to full totality — the state’s main grid operator could lose more than 90 percent of its solar capacity, enough to power at least 2.8 million homes. Even areas thousands of miles away from the path of total eclipse coverage could see solar generation cut in half...According to the U.S. Energy Information
Administration, solar generation in the U.S. has more than tripled since 2017 and now accounts for more than 4 percent of the country’s total electricity generation. The share of solar and wind is only expected to grow in future years. That means sun-covering events will have an increasingly significant impact on the nation’s electricity supply. The eclipse also offers grid planners a chance to see how the rapid decline and subsequent ramp up in sunlight impacts congestion on transmission lines and affects the balance of supply and demand on the grid."
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** "In a fossil-free society, we’re decaying back in the 1800’s as there will also be NO electricity. Life was short and hard for the common man just a few hundred years ago!"
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– Ronald Stein, P.E., Heartland Institute ([link removed])
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Team Biden's ** crusade against America's producers ([link removed])
is being felt in communities across America.
** Wall Street Journal ([link removed])
(4/6/24) reports: "John Sabo and Josh Thieler grew up in Pittsburgh-area communities that were hit hard as 200,000 steel and manufacturing jobs disappeared from the region, upending their parents’ generation and leaving main streets pocked with empty storefronts. Sabo, the son and grandson of mill workers, says his father rarely found steady work after losing his job in a U.S. Steel mill, leaving Sabo to 'know what government cheese tastes like.' Thieler spent part of his childhood in a trailer park in a small city that shed nearly half its population as families hunted elsewhere for work. Today, both men have good jobs in thriving industries. But their paths to a better life have landed them in different sectors of the region’s new economy and changed their political identities, turning one into a staunch Republican and the other into a progressive Democrat...In Pennsylvania, the largest 2024 battleground state, President Biden’s victory four years ago depended in large part on big gains
among voters such as Thieler, a software company manager and former Republican who is now part of the city’s heavily Democratic professional class. But those gains have been overtaken by opposition from voters like Sabo, who works in the natural-gas industry, a sector that has given a boost to blue-collar workers in rural counties. These energy-economy voters see Biden as hostile to fracking, which taps natural gas trapped in sedimentary rock deep underground. The sector has drawn billions of dollars in new investment in Pennsylvania, much of it in the state’s southwest corner. Biden has been particularly hurt by his decision to cancel the Keystone XL oil pipeline, which local companies say cut into demand for their services; and his order this year to pause new permits to export liquefied natural gas, which could deprive drillers of new markets. Many of these voters also believe the president’s push for Americans to adopt electric vehicles will undercut jobs tied to fossil fuels."
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But Mr. Modi, what about the Paris Agreement?
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Team Biden's goal isn't to shift you into an EV. It's to get you out of your car, period.
** Reuters ([link removed])
(4/5/24) reports: "Tesla has canceled the long-promised inexpensive car that investors have been counting on to drive its growth into a mass-market automaker, according to three sources familiar with the matter and company messages seen by Reuters. The automaker will continue developing self-driving robotaxis on the same small-vehicle platform, the sources said. The decision represents an abandonment of a longstanding goal that Tesla, opens new tab chief Elon Musk has often characterized as its primary mission: affordable electric cars for the masses. His first 'master plan', opens new tab for the company in 2006 called for manufacturing luxury models first, then using the profits to finance a 'low cost family car.'...Tesla’s cheapest current model, the Model 3 sedan, retails for about $39,000 in the United States. The now-defunct entry-level vehicle, sometimes described as the Model 2, was expected to start at about $25,000...The affordable-car project’s cancellation comes as Tesla and
other established automakers have been rocked by slowing EV demand growth in the United States and Europe, and cut-throat competition in China. If Tesla had moved forward with the low-cost car, it wouldn’t have arrived on the market until the latter half of 2025, by the company’s estimate. But the entry-level EV segment is already crowded with compelling models from BYD and many other Chinese brands."
Energy Markets
WTI Crude Oil: ↓ 85.83
Natural Gas: ↓ $1.84
Gasoline: ↑ $3.59
Diesel: ↑ $4.04
Heating Oil: ↓ $271.64
Brent Crude Oil: ↓ $89.85
** US Rig Count ([link removed])
: ↓ 638
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