A dishonest politician. Say it ain't so.

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DAILY ENERGY NEWS | 07/18/2024

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Governor Hochul is not being transparent about the cost and progress of her clean energy scheme. Thanks, Captain Obvious.

E&E News (7/18/24) reports: "Gov. Kathy Hochul’s administration needs to be more transparent about the costs of the state’s clean energy transition and its progress toward meeting the landmark climate law’s goals, an audit found. Comptroller Tom DiNapoli’s office released an audit of the Public Service Commission and the New York State Energy Research and Development Authority’s implementation of the state’s electric sector goals Wednesday. The audit found fault with the agencies’ lack of transparency on progress, including reliance on outdated forecasts, and recommended more attention on risks to the goals. The Department of Public Service did not provide its response to the draft audit until July 1 — the same day PSC and NYSERDA officials acknowledged New York would not meet the 70 percent renewable electricity by 2030 target the audit focuses on."

"Energy needs to be reliable at all scales and timeframes. Reliability is about meeting the energy demands of people, machines, and systems not only minute-by-minute but also over days, weeks, months, and years. The absence of energy when it is needed can crash both machines and economies."

– Mark P. Mills

Harold is right. Team Biden has been doing everything they can to make it harder to produce energy in America. I wonder if someone has put a list together?

Fox Business (7/18/24) reports: "Oil tycoon Harold Hamm praised former President Trump's pro-energy agenda after blasting Biden for his 'absurd' outreach to U.S. adversaries for oil. During an interview on "Mornings with Maria," Wednesday, the Continental Resources founder and chairman discussed the need for U.S. energy dominance and how Trump, if elected, could set back the nation’s biggest adversaries after Biden’s political missteps. 'When Biden wanted more oil, he didn’t call the producers in the U.S., he called Maduro in Venezuela. You know, he called the ayatollah for more oil. So how absurd is that?' Hamm questioned. The oil billionaire said that the Biden team has done 'everything they can' to shut down energy production and growth in the U.S. 'We've got an administration that have vowed to shut down all fossil fuels. And, you know, they've made it very difficult on everybody in this business,' Hamm stressed. Hamm went on to add that Biden’s energy rules are 'unreal,' and for Americans to expect more regulation in the future from the administration."

Someone issue a correction. We're up to 225...

Oilman Magazine (7/18/24) op-ed: "It’s official: Donald J. Trump is the Republican Party’s candidate for President of the United States of America for the third time. All indications point to Trump taking many of the same positions on energy issues that he took in 2016 and 2020, which included reducing taxes and regulations, encouraging drilling and production, and approving new infrastructure projects. Trump overturned many of the restrictions and regulations implemented by President Obama, and he has said he will reverse many of the programs adopted by President Biden...According to the American Energy Alliance, the Biden bureaucracy has issued more than 100 proposals that have made it harder to produce oil and gas in the U.S. These include EPA emissions standards, the Interior Department’s restrictions on leasing, the Energy Department’s releases from the Strategic Petroleum Reserve, the ESG proposal from the Security Exchange Commission, and the Department of Justice’s 'environmental justice' program. So, if elected, President Trump will have many choices regarding which issues he wants to change. The differences between Trump and Biden are clear: Trump seeks to increase production while Biden has tried to regulate the industry out of business."

226...

E&E News (7/15/24) reports: "The Biden administration is considering further restricting oil development in Alaska’s National Petroleum Reserve, the nation’s largest swath of public land. The Interior Department’s Bureau of Land Management on Friday said it will soon solicit public comment on whether to expand or designate new 'special areas' in the 23-million-acre reserve. The move could extend the areas of the NPR-A that are mostly off limits to drillers and stymie new exploration for oil in the western Arctic. 'We have a responsibility to manage the western Arctic in a way that honors the more than 40 Indigenous communities that continue to rely on the resources from the Reserve for subsistence,' BLM Director Tracy Stone-Manning said in a statement. 'With the rapidly changing climate, the Special Areas are increasingly critical to caribou movement and herd health, as well as other wildlife, migratory birds, and native plants.' The evaluation, which will begin when BLM publishes its request for information in the Federal Register, builds on the Biden administration’s attempts to dampen oil and gas activity in the Arctic following its contentious 2023 approval of the $8 billion Willow oil project in the reserve. That ConocoPhillips project — which is expected to include up to 199 new wells — drew sharp criticism from climate activists."

Energy Markets

WTI Crude Oil: ↓ $82.48
Natural Gas: ↑ $2.09
Gasoline: ↓ $3.50

Diesel: ↓ $3.84
Heating Oil: ↓ $247.77
Brent Crude Oil: ↓ $84.63
US Rig Count: ↓ 607

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