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DAILY ENERGY NEWS | 05/10/2024

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This week Tom and Mike are joined by Isaac Orr for a discussion on modeling, electricity and otherwise along with the many adventures of Uncle/Grandpop Bosey. The latest episode of The Unregulated Podcast is now streaming on our website, or wherever you listen.

"If climate change means we will face more extreme weather in the years ahead — hotter, colder, and/or more severe temperatures for extended periods — it’s Total Bonkers CrazytownTM to make our electric grid dependent on the weather. But by lavishing staggering amounts of money on wind and solar energy, and in many cases, mandating wind and solar, that’s precisely what we are doing."

– Robert Bryce, Substack

Thank you, E&E, for the honest headline. Wish we could say the same about the guy mentioned in the article.

E&E News (5/9/24) reports: "Gov. Gavin Newsom is taking California’s climate story — with its big ambitions and political risks — on the road. The Democratic governor, Biden surrogate and potential presidential contender is pushing aggressive climate action in appearances from China to the Vatican, selling it as a winning issue beyond the borders of his deep-blue state. His pitch: The effects of climate change are upon us, and the world — including California — ignores them at their peril. California is 'meeting the moment head-on as the hots get hotter, the dries get drier, the wets get wetter, simultaneous droughts and rain bombs,' Newsom said last month in a Central Valley orchard outfitted with solar panels and batteries. 'We have to address these issues with a ferocity that is required of us.'"

First the Camaro, now the Malibu. Chevy is dead, thanks to Mary Biden. William Durant is rolling in his grave.

Wall Street Journal (5/8/24) reports: "General Motors is saying goodbye to the Chevrolet Malibu. After selling more than 10 million Chevy Malibu cars worldwide over several decades, the automaker said Wednesday it would stop making the sedan in November. GM said the decision will make room in its Kansas City, Kan., plant for its approximately $390 million investment in an updated Chevrolet Bolt electric vehicle. GM shut down its Chevrolet Bolt line in April 2023, then said in July it would reintroduce it. The retooling of the Kansas plant is part of GM’s bet on EVs, a driving force at the company in recent years. Under the leadership of CEO Mary Barra, GM went all-in on EVs, largely bypassing hybrid models. But the company has faced manufacturing delays, technical obstacles and, recently, weaker-than-expected EV demand, an industry-wide issue. GM said last month it is on track to produce 200,000 to 300,000 EVs in North America this year. The Malibu’s exit leaves the Corvette as the last gas-powered Chevrolet car. GM announced last year it would shut down production of the Camaro in 2024."

Will GM get the memo?

Bloomberg (5/8/24) reports: "Mercedes-Benz Group AG is backing away from ambitious electric-vehicle goals as weakening sales push the luxury-auto maker to its tried-and-true combustion engines for the foreseeable future. 'The transformation might take longer than expected,' Chief Executive Officer Ola Källenius will tell shareholders at the company’s annual general meeting on Wednesday, according to prepared remarks.' After planning to become fully electric by the end of the decade, Källenius now says the maker of the S-Class sedan will continue to make combustion-engine and hybrid vehicles 'well into the 2030s,' if demand is there. The shift follows disappointing orders for its expensive electric models like the EQS and EQE sedans, a key part of Källenius’ strategy to boost profits with top-end sales. The company’s margin sank to 9% in the first quarter, the lowest in more than two years and below its long-term range."

If you oppose efforts to mask a carbon tax in the form of tariffs, take a stand and contact us.

Tom Pyle, American Energy Alliance

Daren Bakst, Competitive Enterprise Institute

Phil Kerpen, American Commitment

Andrew Quinlan, Center for Freedom and Prosperity

Grover Norquist, Americans for Tax Reform

George Landrith, Frontiers of Freedom

Thomas Schatz, Citizens Against Government Waste

Richard Manning, Americans for Limited Government

Adam Brandon, FreedomWorks

Craig Richardson, E&E Legal

Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Annette Meeks, Freedom Foundation of Minnesota
Isaac Orr, Center of the American Experiment
David T. Stevenson, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America
Jon Sanders, John Locke Foundation

Energy Markets

WTI Crude Oil: ↓ $79.81
Natural Gas: ↓ $2.28
Gasoline: ↓ $3.63

Diesel: ↓ $3.95
Heating Oil: ↑↓ $160.43
Brent Crude Oil: ↑ $84.29
US Rig Count: ↓ 619

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