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DAILY ENERGY NEWS | 06/26/2024
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** Boom, boom, boom... 💥
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Wall Street Journal ([link removed]) (6/25/24) reports: "To the makers of smartphones, power grids and electric vehicles, lithium—the lightest metal—allows batteries to become supercharged, underpinning hopes for a greener economy and longer-lasting devices. But the very traits that make lithium game-changing for energy storage can pose overpowering challenges should the batteries ever catch fire. Incidents involving lithium-battery fires are becoming more common around the world, raising safety concerns. Water isn’t always an effective combatant for certain types of lithium-battery fires, leaving little option other than waiting things out or using costly suppressants, firefighting experts say. Combating fires involving lithium-batteries can be difficult due to the emission of toxic gases...The world saw the risks of lithium-battery fires on
Monday in South Korea, where at least 23 workers died in one of the country’s worst industrial accidents in recent memory...For instance, extinguishing a lithium-ion battery fire for an EV takes longer and about three times as much water than a regular vehicle, on top of the exposure to carcinogenic chemicals, said Greg McConville, the national secretary of the United Firefighters Union of Australia. The fire’s ignition is more intense than an oxy-acetylene torch, which can be roughly 5,000 degrees Fahrenheit or more, or about five times hotter than many house fires."
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** "In the U.S., there are a number of state-level climate-related lawsuits that remain in process...usually involving seeking liability judgments against energy companies. These are simple shakedown and harassment lawsuits, but keep your eye on them. The climate bar has visions of a tobacco-like settlement that will line their pockets, raise energy prices for consumers, and do very little for the climate."
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– Steven F. Hayward, Institute of Governmental Studies at UC Berkeley ([link removed])

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Never forget that these people want you broke, jobless, and without reliable power. And they call that justice.

** The Daily Caller ([link removed])
(6/24/24) reports: "Once-thriving communities in America’s coal country remain largely pessimistic towards President Joe Biden’s pledge of a “just transition” away from fossil fuels, The Washington Post reported Monday. In a bid to ease coal communities into the green energy shift away from fossil fuels, Biden established the Interagency Working Group on Coal and Power Plant Communities and Economic Revitalization, and rolled out over $1 billion in tax credits through the Inflation Reduction Act, the Post reported. Yet, residents in hollowed-out towns that largely depended on a bustling coal industry say that the Biden administration has left them by the wayside. 'We get overlooked all the time,' said LuAnn Zak, assistant director of the Indiana County, Pennsylvania, Office of Planning and Development told the Post...'There’s nothing being put out to help energy workers,' Aric Baker, president of the International Brotherhood of Electrical Workers Local 459, which had represented roughly
120 workers now laid off from the Homer City Generating Station, told the Post."

If you're wondering why it's taken so long to get a leasing plan from DOI, it's because they are focusing their resources on more pressing issues like elevating the "two-spirit" community.

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I can handle the boom and bust cycle in the oil business. It's the election cycle that drives me crazy. These guys spend all their time trying to raise gas prices except for the months leading up to their reelection...

** Wall Street Journal ([link removed])
(6/26/24) reports: "The Biden administration wants to keep gas prices stable ahead of the election by encouraging oil to flow into global markets. The effort has run square into another priority: being tough on adversaries Russia, Iran and Venezuela. The policy has led to softer-than-expected sanctions on major oil producers, according to diplomats, former government officials and energy-industry players briefed by current officials. A case in point arrived on Tuesday, when the U.S. levied fresh sanctions against Iran. The measures affect a fraction of the country’s oil exports and are unlikely to gum up global markets, analysts said. 'The president has wanted to do everything that he could to make sure that American consumers have the lowest price possible at the pump, as it affects families’ daily lives,' said a senior administration official...'Nothing terrifies an American president more than a gasoline-pump price spike,' said Bob McNally, president of consulting firm Rapidan Energy
Group and former White House policy official under George W. Bush. 'They will go to great lengths to prevent this, especially in an election year.'"

Energy Markets


WTI Crude Oil: ↑ $81.10
Natural Gas: ↓ $2.66
Gasoline: ↑ $3.49

Diesel: ↑ $3.81
Heating Oil: ↑ $253.45
Brent Crude Oil: ↑ $85.39
** US Rig Count ([link removed])
: ↑ 621



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