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DAILY ENERGY NEWS | 06/07/2024
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** The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.
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New York Post ([link removed]) (6/7/24) reports: "Republican governors on Monday announced a plan to 'unleash American energy.' They also called on President Joe Biden to protect U.S. energy security after they say his administration has taken more than 200 actions against the oil and natural gas industry. The governors unveiled their plan in front of a the PBF Energy Chalmette Refinery on the banks of the Mississippi River in St. Bernard Parish, Louisiana, led by Louisiana Gov. Jeff Landry. 'American energy has done more than any other industry to lift more people out of poverty globally than any other industry that I’ve known of,' Landry said. He said governors know the needs of Americans more than anyone else. 'What we hear from our constituents is that inflation is eating into the pockets of Americans. One of the greatest drivers of that inflation is energy,' Landry said. 'The reason that inflation is out
of control is because of the federal government. If the federal government took its foot off of the neck of American energy, we could absolutely lower the cost of everyday goods.' The Louisiana governor listed actions the president took 'attacking the industry' from his first day in office, including pausing new oil and gas leases, cancelling the Keystone XL pipeline, prioritizing foreign energy over domestic energy, and releasing agency 'rules and regulations at a neck-breaking speed,' that hurt Americans’ pocket books and prioritize 'government regulations over free market solutions.'"
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** "The out-of-touch elites who want us all to give up our gasoline-powered cars also carry a tendency to want to control how the rest of us live our lives. They want us to abide by their ridiculous edicts: Buy this type of car. Use this type of lightbulb. Eat this kind of food."
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– Chris Talgo, The Heartland Institute ([link removed])

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We thank the men and women of the Permian Basin Petroleum Association every single day for working to keep the light on and the trains moving. Their government - not so much.

** PB Oil & Gas Magazine ([link removed])
(6/7/24) article: "Another trip to Washington D.C. is in the books. Several Permian Basin Petroleum Association members, along with Ben Sheppard and Stephen Robertson, made the trek to D.C. back in early April. PBPA staff and our new federal consultant, Mr. Glenn LeMunyon, arranged for the group to meet with several members of Congress on Capitol Hill. Overall, I believe it was a worthwhile trip during which we shared our hopes for the future and our current concerns about the never-ending list of federal regulations that are challenging our industry. Many of the federal regulations opposing our industry (** a report from the Institute for Energy Research has tracked over 200 actions taken by the current administration against the oil and gas industry ([link removed])
) are onerous and not well written, while others are just draconian and punitive. It appears that these changes are being pushed out of D.C. with the purpose of causing harm to the oil and gas industry. Imagine that! Oil and gas companies are spending an incredible amount of time, effort, and resources to comply with the flavor of the day regulations, and it doesn’t appear that the result of the new rules yields anything substantial, other than drive up costs and make operations more problematic and less certain."

One Senator from West Virginia is fighting Team Biden's war on affordable and reliable energy. The other was the lead author of "the single largest investment in climate in American history." Can you guess which is working harder for West Virginia families?

** WV Record ([link removed])
(6/6/24) reports: "U.S. Senator Shelley Moore Capito is leading 43 other Senators in introducing a formal challenge to the Biden administration’s regulations intended to shut down American power plants through a Congressional Review Act joint resolution of disapproval. The resolution, issued June 5, comes after the Environmental Protection Agency issued its final rules that impose what the Senators call unrealistic emissions requirements on existing coal-fired power plants and newly constructed gas-fired power plants. They say this attempt to force the closure of power plants that supply America’s baseload electricity was previously tried under President Obama and overturned by the Supreme Court in West Virginia v. EPA...Capito introduced the resolution in the Senate, while U.S. Rep. Troy Balderson (R-Ohio) simultaneously led 138 of his colleagues in introducing an identical resolution in the House. 'The Clean Power Plan 2.0 was created by and for extreme activists, ignoring the real-world
harm it will cause to our electric grid and American energy security,' Balderson said. 'Slashing our baseload energy production while power demand continues to climb at historic levels is dangerous and will have a catastrophic impact for Ohioans.'"

We just keep finding more.

** Petroleum News ([link removed])
(6/7/24) article: "Robert Bradley from the Institute for Energy Research, or IER, wrote a great piece May 31, titled Fossil Fuels: An Expanding Resource. Here's the beginning: 'Depletable resources deplete -- which would seem to mean less and less for the future with ongoing production. But the actual statistics of oil, natural gas, and coal show the opposite. The more that is extracted, the more there is to extract. This is not the biblical story of the fishes and loaves. It is the result of resourceship, or entrepreneurship applied to resources in free economies.' That is the finding, Bradley wrote, of IER's 2024 North American Energy Inventory: 'Since 2005, oil production in the U.S. has increased by 149 percent and natural gas production has more than doubled.' Looking ahead: 'The U.S. now has 227 years of oil supply, 130 years of natural gas supply, and 485 years of coal supply,' Bradley wrote. 'And when these time horizons are reached, expect high, even higher, reserve and resource
figures given free-market supply and demand, or the liberty to locate, extract, and consume resource.' Check it out. ** It's a fascinating article. ([link removed])
"

If you oppose John Curtis' carbon tax, take a stand and ** contact us. (mailto:[email protected])

** ([link removed])

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: ↓ $75.43
Natural Gas: ↑ $2.91
Gasoline: ↓ $3.47

Diesel: ↓ $3.82
Heating Oil: ↓ $234.85
Brent Crude Oil: ↓ $79.59
** US Rig Count ([link removed])
: ↓ 619



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