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DAILY ENERGY NEWS | 04/15/2024
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** German bureaucrats aren't content with destroying the economy, now they are working on weekend climate lockdowns.
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Reuters ([link removed]) (4/12/24) reports: "German Transport Minister Volker Wissing attracted backlash on Friday after threatening to impose weekend driving bans in the summer to abide by the climate protection law, in the latest dispute within Berlin's ruling coalition over decarbonizing... For months, the government coalition of the Social Democrats (SPD), Greens and pro-business FDP has been in negotiations about the amendments but has not yet reached an agreement. In a push to get his coalition partners to quickly approve the changes, Wissing said the ministry would have to enforce a ban on driving to meet the current law requirements if the amendments do not come into force before mid-July. 'A corresponding reduction in traffic performance would only be possible through restrictive measures that are difficult to communicate to the population, such as nationwide and indefinite driving
bans on Saturdays and Sundays,' Wissing wrote in a letter dated Thursday to coalition parliamentary group leaders."
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** "We are insanely lucky to have such an abundance of low-cost, low-carbon energy. Natural gas is a strategic — and irreplaceable — energy source for the United States and Europe."
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– Robert Bryce, Substack ([link removed])
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China's path to decarbonization now includes creating a strategic coal reserve.
** Oil Price ([link removed])
(4/12/24) reports: "China’s top economic planning body has finalized plans to create a reserve system for coal production by 2027 to avoid new shortages and ensure stable supply and prices. China aims to have 300 million metric tons of annual 'dispatchable' coal production by 2030, according to the plan from the National Development and Reform Commission (NDRC). In 2021, when China was hit by blackouts, the world’s second-largest economy set a goal to have coal reserves stocked at mines, power plants, and ports equivalent to 15% of its annual production."
The Green Dream! When your energy bill goes from 49,000 pounds to 125,000 pounds.
** Javier Blas ([link removed])
(4/13/24) tweets:
** ([link removed])
The world needs aluminum, nickel, and copper for the "green transition." Does Biden know this?
** Reuters ([link removed])
(4/13/24) reports: "The United States on Friday prohibited metal-trading exchanges from accepting new aluminum, copper and nickel produced by Russia and barred the import of the metals to the U.S. The Treasury Department action, aimed at disrupting Russian export revenue from the metals, comes as Washington has sought to punish Moscow for its invasion of Ukraine, which has killed or wounded tens of thousands and reduced cities to rubble. Russia is a major producer of aluminum, copper and nickel. The Treasury Department said Friday's action would prohibit the London Metal Exchange and Chicago Mercantile Exchange from accepting new Russian production of aluminum, copper, and nickel."
Energy Markets
WTI Crude Oil: ↓ $84.92
Natural Gas: ↓ $1.73
Gasoline: ↑ $3.63
Diesel: ↑ $4.04
Heating Oil: ↓ $265.43
Brent Crude Oil: ↓ $89.62
** US Rig Count ([link removed])
: ↓ 644
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