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DAILY ENERGY NEWS | 04/18/2024
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** 47 United States Senators and the president agree that unelected bureaucrats should choose what kind of car best suits your family's needs.
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Daily Caller ([link removed]) (4/18/24) reports: "Three Senate Democrats crossed the aisle on Wednesday to vote against a plank of the Biden administration’s electric vehicle (EV) agenda. Democratic Sens. Joe Manchin of West Virginia, Sherrod Brown of Ohio and Jon Tester of Montana voted with their Republican colleagues to nullify a Federal Highway Administration (FHWA) rule that critics have characterized as an effort to reduce the number of gas-powered cars on America’s roadways. Independent Arizona Sen. Kyrsten Sinema, who typically caucuses with Democrats, also voted in favor of the nullification resolution, bringing the final vote tally to 53-47. The FHWA rule would have required state transportation agencies to establish emissions reduction plans for federally-funded roadway projects. The agency unveiled the finalized rule on the day before Thanksgiving
2023...Manchin helped introduce the nullification resolution alongside Republican colleagues, while Brown and Tester each face competitive reelection bids in the 2024 cycle. However, the White House has said President Joe Biden would veto the bill if it reached the president’s desk, according to Politico."
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** "Without hydrocarbons we would have no way to produce the vast quantities of steel and cement that undergird our built world. Even wind turbines, solar panels, and batteries are made of hydrocarbon materials and require huge amounts of process heat energy from hydrocarbons for their fabrication. Fossil fuels are not going away. They are even necessary to reducing GHG emissions."
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– Chris Wright, Liberty Energy ([link removed])

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Concerned citizens are taking a stand for the future of their communities and it's all Trump and AEA's fault.

** Washington Post ([link removed])
(4/17/24) reports: "Former president Donald Trump repeatedly ranted about wind power during a fundraising dinner with oil and gas industry executives last week, claiming that the renewable-energy source is unreliable, unattractive and bad for the environment. 'I hate wind,' Trump told the executives over a meal of chopped steak at his Mar-a-Lago Club and resort in Florida, according to a person with knowledge of the meeting, who spoke on the condition of anonymity to describe a private conversation.' Trump’s comments reveal how he is wooing potential donors with his long-standing hostility to wind farms and pledges to halt this form of renewable energy if he returns to office. His stance poses a potential threat to one of the linchpins of America’s clean-energy transition, according to more than a dozen Trump allies, energy experts and offshore wind industry officials...'It’s a shot in the arm to our movement,' said Robin Shaffer, president of Protect Our Coast New Jersey, which describes
itself as a grass-roots group made up of 'residents, homeowners, business owners, fishermen and visitors.' Early on, Protect Our Coast received support from the Delaware-based Caesar Rodney Institute, a think tank that has been backed by fossil fuel interests such as American Fuel & Petrochemical Manufacturers and the American Energy Alliance."

Hydrocarbons to keep Michiganders warm in the winter = Bad

Hydrocarbons to keep Whitmer's portfolio preforming = Good
** The Midwesterner ([link removed])
(4/18/24) reports: "New financial disclosure requirements reveal Gov. Gretchen Whitmer’s investments ballooned by about $500,000 over the last two years, fueled in part by oil company stocks. The governor, lieutenant governor, secretary of state, attorney general and state lawmakers filed financial disclosure statements on Monday as required by Proposal 1, a ballot initiative approved by 66% of voters in 2022...Whitmer declined to voluntarily disclose her $159,000 annual salary as governor, but she did report $50,237 in unearned income, including $18,432 in stock dividends, $17,672 in qualified dividends, and $10,657 in tax-exempt interest...The governor’s largest account is more than $1 million invested in the Vanguard Total Stock Market Index Fund Admiral, known as VTSAX, which is up more than 26% since 2022. The index fund consists of 3,717 stocks, including billions invested with Chevron, Exxon Mobil Corp., and ConocoPhillips. Whitmer’s financial investments in those oil companies
seemingly conflict with her efforts in Michigan to invest billions of taxpayer dollars in the electric vehicle industry. In recent years, the Whitmer administration has inked investment packages that will steer $236.6 million in taxpayer money to a Next Energy battery gigafactory in Novi, $800 million for a CCP Gotion battery parts plant near Big Rapids, and $1.7 billion for Ford’s BlueOval Battery Park in southwest Michigan, MLive reports."

American energy powers more than the economy, it undergirds U.S. soft-power around the world.

** RigZone ([link removed])
(4/18/24) reports: "The U.S. influence on the Middle East seems to be fading of late, Josephine Mills, a Senior Associate at Enverus Intelligence Research (EIR), told Rigzone. 'U.S. sanctions on Iran had greatly impacted reported volumes in 2018-20, but such volumes appear to have been brought back online,' Mills said...Caleb Jasso, an analyst at the Institute for Energy Research (IER), told Rigzone that the current sanctions on Iran are meant to prevent Iranian oil from entering the global market. 'However, the Biden administration has not enforced these sanctions which has allowed for Iran to have earned $88 billion since February 2021 from their primary customer, China,' he said. 'If the Iran Nuclear deal had been revived, Iran would have been reinstated as a full member of OPEC and would have contributed to the overall amount of oil available in the global market,' he added. 'However, even without the deal being revived, not much will change with global markets given the status quo of
Iran selling their oil, primarily to the Chinese, without any serious enforcement of sanctions,' Jasso went on to state."

Energy Markets


WTI Crude Oil: ↑ $82.86
Natural Gas: ↑ $1.76
Gasoline: ↑ $3.67

Diesel: ↑ $4.05
Heating Oil: ↑ $255.52
Brent Crude Oil: ↑ $87.31
** US Rig Count ([link removed])
: ↓ 639



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