Anywhere but America

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DAILY ENERGY NEWS | 04/30/2024

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China owns President Biden's green dream and it seems he is perfectly happy to keep it that way. Who can blame India for wanting a piece of that action.

Energy World (4/29/24) reports: "Mines Secretary V L Kantha Rao on Monday said that India's auction of critical mineral blocks is progressing, with 38 blocks already auctioned and another auction scheduled by the end of June. Speaking at 'The Critical Minerals Summit: Enhancing Beneficiation and Processing Capabilities' at the India Habitat Centre, Rao detailed the auction process, noting, 'The auction process for seven critical mineral blocks put on sale in the first round is almost complete, and the result would be declared in a month's time.' Rao also highlighted the exploration efforts leading to an increased inventory of critical mineral blocks, stating, 'Over the last two years, we've explored a lot of critical blocks, and over 100 are now on the table for auction.' 'This is part of a continued effort to secure resources vital for the country's energy and industrial goals,' he added...The International Energy Agency projects a four-fold increase in demand for critical minerals by 2040. A 2023 market review showed that China controls more than half of the world's lithium refining capacity expected to emerge by 2030."

"With the highest effective poverty rate in America and some of the highest electricity costs, Newsom’s top priority should be to shift to energy affordability."

– Miles Pollard, Heritage Foundation

I'm not going to say I told you so when those slave-built spy machines flood the U.S. market. That is, of course, if Team Biden succeeds in mandating EVs...

Fox Business (4/28/24) reports: "China expert Gordon Chang is lifting the veil on the dark side of the Chinese electric vehicle industry, claiming that it threatens to choke out the U.S automotive industry, will bring with it a whole new data collection apparatus to potentially spy on Americans, and will grow on the back of slave labor. Chang, the Gatestone Institute senior fellow and author of 'The Coming Collapse of China,' spoke to Fox News Digital about what he believes are a whole host of dangers that will come from China’s major splash into the EV market. The expert’s message comes as Chinese electric vehicle company BYD recently surpassed EV giant Tesla’s production for the second straight year, manufacturing over 3 million vehicles in 2023 compared to Tesla’s 1.84 million. Though BYD has yet to sell in America, it has cornered the global EV market by selling its clean energy and hybrid line of vehicles at a cheaper rate than its competitors. Chang warned the explosion is being driven in part by 'extremely predatory' business practices amounting to 'trade violations' that threaten to flood the market and kill western countries’ manufacturing jobs...Other auto industry experts have raised similar alarms about Chinese EVs. Auto guru Mike Caudill previously told Fox News Digital, 'Chinese EVs could be equipped with even more powerful spying equipment. They could go anywhere, including military bases, power plants and cellphone towers. EVs would be far more effective than spy balloons at collecting important data, and at far lower cost – because Americans would be purchasing these vehicles.' Chang also mentioned that the parts used in manufacturing Chinese EVs, and other Chinese products, come from slave labor."

What are the consequences of Joe Biden's anti-production regime? AEA's Dan Kish weighs in on the latest episode of The Energy Show, now streaming.

They lied about everything else to get Energiewende up and running. Why would this have been any different?

Telegraph (4/30/24) reports: "Green party ministers in Germany have been accused of lying about safety issues at the country’s nuclear power plants to ensure they were shut down, even as the war in Ukraine threatened European energy supplies. A German media outlet has accused Green ministers in the country’s coalition government of covering up key technical reports that suggested keeping the nuclear plants open would have lessened the country’s energy squeeze in 2022. The magazine Cicero claimed that Patrick Graichen and Stefan Tidow, junior Green ministers at the economy and environment ministries respectively, re-wrote the documents to falsely suggest that retaining the power stations was 'not tenable' on technical or security grounds...A statement added that decisions were based on 'information available at the time.' The closure policy dates back to 2011, when ex-chancellor Angela Merkel passed laws mandating the gradual shutdown of all nuclear plants by the end of 2022 following the Fukushima disaster in Japan.

Energy Markets

WTI Crude Oil: ↓ $81.39
Natural Gas: ↑ $2.04
Gasoline: ↑ $3.65

Diesel: ↓ $4.00
Heating Oil: ↓ $249.50
Brent Crude Oil: ↓ $87.64
US Rig Count: ↓ 611

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