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DAILY ENERGY NEWS | 07/16/2024

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What’s worse, a thousand meaningless, bureaucratic mandates or a shameless, apologist media?

The Guardian (7/3/24) reports: "When Donald Trump embarked upon a lengthy complaint at a recent rally about how long it takes to wash his 'beautiful luxuriant hair' due to his shower’s low water pressure, he highlighted the expanding assault he and Republicans are launching against even the most obscure environmental policies – a push that’s starting to influence voters. In his bid to return to the White House, Trump has branded Joe Biden’s attempt to advance electric cars in the US 'lunacy,' claiming such vehicles do not work in the cold and that their supporters should “rot in hell”. He’s called offshore wind turbines 'horrible,' falsely linking them to the death of whales, while promising to scrap incentives for both wind and electric cars...At a June rally in Philadelphia, Trump claimed Americans are suffering from 'no water in your faucets' when attempting to wash their hands or hair. 'You turn on the water and it goes drip, drip,' he said. 'You can’t get [the soap] off your hand. So you keep it running for about 10 times longer.' Trump complained it takes 45 minutes to wash his 'beautiful luxuriant hair' and that dishwashers don’t work because 'they don’t want you to have any water.' Trump’s niche fixation is not new – while in office he complained about having to flush a toilet 10 times and that newer, energy-efficient lightbulbs made him look 'orange.' His administration subsequently rolled back efficiency standards for toilets, showers and lightbulbs, rules that Biden subsequently restored."

"The restrictive, poorly conceived and outright bad energy polices we are seeing around the nation (read: California) are rendering our energy either less available or less affordable. It’s time to take back our energy policy."

– David Holt,
Consumer Energy Alliance

When your audience believes the only way to reduce emissions is by government fiat, this is the story they get…

New York Times (7/15/24) reports: "The United States is experiencing scorching new levels of heat fueled by climate change this summer, with dozens of people dying in the West, millions sweating under heat advisories and nearly three-quarters of Americans saying the government must prioritize global warming. But as the Republican Party opens its national convention in Milwaukee with a prime-time focus on energy on Monday night, the party has no plan to address climate change.
While many Republicans no longer deny the overwhelming scientific consensus that the planet is warming, party leaders do not see it as a problem that needs to be addressed. 'I don’t know that there is a Republican approach to climate change as an organizing issue,' said Thomas J. Pyle, president of the American Energy Alliance, a conservative research group focused on energy. 'I don’t think President Trump sees reducing greenhouse gases, using the government to do so, as an imperative.' When former President Donald J. Trump mentions climate change at all, it is mockingly...Next time, they would know how to run the government, Mr. Trump’s former officials said. 'The difference between the last time and this time is, Donald Trump was president for four years,' Mr. Pyle said. 'He will be more prepared.'"

China is stockpiling coal to make Team Biden's solar panels, windmills, and batteries. Further evidence that this is, perhaps, the least serious administration in modern history.

Oil Price (7/15/24) reports: "China aims to avoid coal shortages during the peak summer demand season by stockpiling coal and increasing production. China boosted its coal production in June to the highest level in six months as it looked to meet power demand for cooling in the summer and as eased mining safety inspections allowed some mines to resume operations. Chinese coal production stood at 405.38 million metric tons in June, the highest volume since December 2023 and a 3.6% rise compared to June last year, according to data from China’s National Bureau of Statistics (NBS) reported by Reuters on Monday. Earlier this year, Chinese coal output was weaker, due to numerous safety inspections at mines following deadly incidents, and lowered production in the province of Shanxi, China’s top coal-producing area, which accounts for nearly 30% of domestic output. Coal output in China has wobbled this year after authorities in the northern province of Shanxi ordered in February miners to reduce production and carry out safety inspections between March and May, following several fatal incidents at mines in China in recent months."

Working class Joe’s policies don’t seem to be reaching the “bottom up and the middle out” or whatever the heck that means…

Washington Examiner (7/15/24) reports: "Clean energy tax credits have largely benefited higher-income tax filers, according to a new report by economists, illustrating a major pitfall for the Biden administration in its efforts to lower emissions through subsidies. The top quintile of households by income received 60% of $47 billion in clean energy tax credits claimed from 2006 to 2021, according to the paper, which was done by researchers at the University of California, Berkeley, and circulated Monday by the National Bureau of Economic Research. The tax credits were awarded for buying heat pumps, solar panels, electric vehicles, and other clean energy technologies. Many of the credits were subsequently expanded by the 2022 Inflation Reduction Act passed by Democrats and signed by President Joe Biden. The study did not directly address the effects of that law but underlined a common criticism that enacting incentives for the adoption of zero-carbon technologies, without also imposing penalties on carbon emissions, is insufficient to reach the goal of net-zero emissions by 2050."

Energy Markets

WTI Crude Oil: ↓ $80.23
Natural Gas: ↑ $2.19
Gasoline: ↓ $3.51

Diesel: ↑ $3.58
Heating Oil: ↓ $246.27
Brent Crude Oil: ↓ $83.40
US Rig Count: ↑ 627

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