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DAILY ENERGY NEWS | 07/10/2024
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** Senator Inhofe was a gentleman, scholar, family man, and patriot. Shame on the headline writers.
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The Oklahoman ([link removed]) (7/9/24) reports: "The death Tuesday of longtime Republican Senator, U.S. Representative, state legislator and Tulsa Mayor James Inhofe drew immediate and widespread comment. Gov. Kevin Stitt quickly ordered state flags to be flown at half-mast. 'Sarah and I are saddened by the news of the passing of Senator Inhofe and our hearts go out to Kay, their children and grandchildren,' the governor said in a media statement. 'Jim was a generational Oklahoman who relentlessly championed our veterans, never wavered in protecting our values, and a firm believer in the American Dream. Jim will be remembered as a true statesman and public servant— and a fighter for Oklahoma. In honor of his memory and service, I'm ordering all flags on state property to be flown at half-staff until tomorrow evening.' Inhofe was a fixture in Oklahoma politics for many years. He was the
longest-serving U.S. Senator in Oklahoma history and before that was a member of the U.S. House for eight years. Prior to that, he spent four years as mayor of Tulsa and 10 years in the Oklahoma Legislature. Inhofe ran for governor in 1974 but lost to Democrat David Boren, the man he would later succeed in the Senate."
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** "Whenever the media asked me how much I have received in campaign contributions from the fossil fuel industry, my unapologetic answer was, 'Not enough.'"
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– Senator James Inhofe ([link removed])
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It took a year and a primary just to get the bill introduced. At this pace, I think we’ll be OK. But don’t think we are gonna just sit on our hands.
** Daily Caller ([link removed])
(7/9/24) reports: "Republican Utah Rep. John Curtis unveiled a bipartisan bill Tuesday that critics fear could be the first step toward domestic carbon taxes. Curtis, who is running for U.S. Senate in Utah, introduced the PROVE IT Act in the House alongside Democratic California Rep. Scott Peters, putting forward the complement to the already-introduced Senate version of the bill. The bill’s proponents insist that it merely instructs the Department of Energy (DOE) to conduct a study determining the carbon intensity of American goods relative to certain foreign competitors, but its critics are strongly concerned that the federal government would be able to use the study’s findings as the predicate for carbon taxes or tariffs once it has established a mechanism for carbon pricing...Tom Pyle, president of the American Energy Alliance and an opponent of the bill, is not convinced that the bill’s clarifying language is sufficient to protect against carbon taxes and tariffs. 'The whole purpose of
this legislation is to empower the administration to set the tax in motion. This language won’t change that fact and they know it. I don’t blame them for wanting to shield their support for carbon taxes from the voters. It’s wildly unpopular,' Pyle told the Daily Caller News Foundation. 'So they would rather have some nameless faceless bureaucrats do their dirty work for them, which is exactly what the PROVE IT Act will do.' Mike McKenna, a GOP strategist with significant energy sector experience who also opposes PROVE IT, also expressed his doubts that the bill will not eventually facilitate new carbon taxes and tariffs."
If there is one thing Big Green, Inc. loves more than making it harder to produce oil & natural gas, it's making it easier to club seals. Dan Kish dishes the knowledge on ** the latest episode of The Bob Murphy Show ([link removed])
.
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Team Biden to taxpayers: You get a Solyndra, and you get an Solyndra.
** Bloomberg ([link removed])
(7/9/24) reports: "The Biden administration is poised to lend $1.2 billion to Entek Lithium Separators LLC to help expand the US supply chain for lithium-ion batteries used in electric vehicles.The closely held battery component maker has been offered a conditional loan by the US Energy Department to help pay for a new manufacturing facility west of Indianapolis that will make lithium-ion battery separators mainly for EVs, according to a Tuesday announcement by the government agency. The loan dovetails with broader White House goals of expanding domestic clean energy supply chains.Entek specializes in making lithium-ion battery separators, a membrane sandwiched between a battery’s anode and cathode. When finished, Entek’s facility in Terre Haute, Indiana will be able to manufacture 1.72 billion square meters of the material a year, enough to support about 1.9 million midsized EVs, the agency said.'With this loan, we have a clear path to having enough operating and planned capacity to meet
the president’s goal of 50% EVs and plug-in hybrid sales by 2030,' said Jigar Shah, director of the Energy Department’s Loan Programs Office.The separators made at Entek’s new facility will help US battery manufacturers qualify for EV tax credits under Biden’s signature climate law, the Inflation Reduction Act. The Energy Department estimates that North America’s lithium-ion EV battery industry will require annual separator production of 7 to 10 billion square meters by 2030."
Energy Markets
WTI Crude Oil: ↑ $81.82
Natural Gas: ↓ $2.33
Gasoline: ↑ $3.53
Diesel: ↑ $3.88
Heating Oil: ↓ $250.96
Brent Crude Oil: ↑ $84.84
** US Rig Count ([link removed])
: ↓ 619
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