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DAILY ENERGY NEWS | 06/10/2024
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** Unelected officials are forcing poverty and misery on the world.
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Deseret News ([link removed]) (6/7/24) reports: "United Nations Secretary-General António Guterres gave a heated speech in New York City, where he compared humans to meteors that made dinosaurs go extinct and wagged his finger at the fossil fuel industry... And although he said, 'We need cooperation, not finger pointing,' the secretary-general made it clear that he believes in order to fight climate change, the world has 'to clamp down on the fossil fuel industry,' and even urged advertisers to drop them as clients... Oil, coal, nuclear and natural gas create an affordable and global energy supply, as Alex Stevens, the policy and communications manager at American Energy Alliance, said in a statement. 'The scope of the U.N.’s climate initiatives are wildly out-of-step with the actual costs associated with climate change, and, if they continue to be pursued, they will continue to raise energy prices for everyone,' said Stevens,
noting that lower-income communities will bear the brunt of rising energy costs. 'The people most affected by rising energy prices will be the poor, especially those in developing countries who still lack access to affordable energy, partially due to the climate initiatives that have been imposed on them by the U.N.'”
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** “When far-left progressives had total control over our commonwealth, they passed a misguided bill that … would have forced Virginians to buy electric vehicles and punish Virginia auto dealers for selling gas-powered cars. If you want to buy an electric vehicle, that’s your decision. But Virginians must have the freedom to make that decision on their own.”
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– G ([link removed]) ov. Glenn Youngkin ([link removed])
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China is using rare earth minerals to challenge U.S. global economic hegemony.
** Foreign Policy in Focus ([link removed])
(5/30/24) reports: "The ambitious goals set in the Paris Climate Agreement have put pressure on nations to seek and dedicate effort toward developing energy alternatives, many of which will rely on successfully exploiting new natural resources. Most notably, these will include Rare Earth Elements (REEs). As an essential component in most of the 'green' technology that will fuel the campaign against climate change, REEs represent a global commodity value chain capable of rivaling petroleum and potentially threatening to erode U.S. hegemonic authority. The meteoric rise of China and its systematic, long-term strategy to become indispensable to the global economy present numerous challenges to the established world order, including the nation’s dominance of the REE value chain. Through decades of careful maturation of the extraction, refining, and manufacturing processes and with an economic system capable of dissuading international competition, China has successfully ensured its near
absolute monopolistic control over the 'fuel of the future.' As of 2022, China accounted for 60 percent of mined production, 85 percent of processing capacity, and 90 percent of permanent magnet production. Considering the substantial investment and time required for the United States to catch up, coupled with increasing international suspicion of the stability of age-old American institutions, the 'petrodollar' might one day be replaced by a new fiat currency—one backed by the new critical natural resource, and defined by the nation that controls it."
The War on Cars continues.
** The Daily Caller ([link removed])
(6/10/24) reports: "The Biden administration locked in weakened fuel economy standards on Friday, but some experts are still describing the final version as stringent and designed specifically to force electric vehicles (EVs) on Americans who may not otherwise want them. The National Highway Traffic Safety Administration (NHTSA) unveiled its final update for the Corporate Average Fuel Economy (CAFE) standards on Friday, trimming down some of the proposal’s excesses while keeping other aspects unchanged or very similar. However, the final rules are still likely to be onerous for consumers and to further the Biden administration’s push to massively increase the share of EVs on America’s roads in the coming decade, according to market experts who spoke with the Daily Caller News Foundation... 'They can backpedal to try to save some face, but that doesn’t change what the ultimate objective is,' Tom Pyle, the president of the American Energy Alliance, told the DCNF. 'When you start with a
rule that is impossible to comply with, and then issue a final rule that is slightly less impossible, it doesn’t change the fact that you’re taking away choices from American consumers and families as to what cars will be available to them in the future.'”
Forget stoves! The Biden administration is working to take away all of your gas appliances.
** The Daily Caller ([link removed])
( 6/9/24) reports: "The Biden administration contends that it is not targeting gas stoves and other domestic conveniences afforded by fossil fuels, but its 'building electrification' agenda is poised to effectively do just that, several energy policy experts told the Daily Caller News Foundation. The notion that the federal government would like to ban gas stoves is a “myth” and 'misinformation,' according to the Department of Energy (DOE), which uploaded the blog post in May 2023 after Consumer Product Safety Commission Commissioner Richard Trumka Jr. suggested that a gas stove ban is 'on the table' in a January 2023 Bloomberg interview. However, the administration is also working to advance its 'building electrification' agenda that would bring about similar outcomes under a different name, energy policy experts told the DCNF. 'The whole ‘building electrification’ effort is part of the centralized control impulse of people who gravitate to government or stand to cash in on the latest
fad, irrespective of its costs or impacts on regular Americans. It’s also part of the ‘electrify everything’ agenda of planners and masterminds,' Dan Kish, a senior research fellow for the Institute for Energy Research, told the DCNF. 'The U.S. established a Constitutional Republic to limit government control, and yet control freaks want to tell us how to live by expanding the government’s reach.'”
** ([link removed])
Energy Markets
WTI Crude Oil: ↑ $75.65
Natural Gas: ↑ $3.01
Gasoline: ↓ $3.45
Diesel: ↓ $3.79
Heating Oil: ↑ $236.89
Brent Crude Oil: ↑ $79.79
** US Rig Count ([link removed])
: ↓ 624
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