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DAILY ENERGY NEWS | 07/31/2024
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** Climate policies have cost Europe trillions of dollars and they are still reliant on coal, but Kamala promises her Green New Deal will actually decarbonize America.
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Shipping News ([link removed]) (7/30/24) reports: "A rise in European wholesale natural gas prices over the past several months is expected to encourage more utilities to switch to coal for electricity generation this coming winter. While many European countries, such as France, Britain and Italy, have either phased out coal completely or have limited ability for large-scale gas-to-coal switching, coal is a key part of the power mix in Germany, Europe’s number one energy consumer, and much of eastern Europe. In February, European natural gas prices fell to near a three-year low, incentivizing a switch in other direction. Gas prices, however, have risen nearly 40 percent since their February 23 low that arose from a mild winter and an abundant supply. Both coal and natural gas plants must consider the cost of EU carbon permits to offset their emissions–a cost that is higher for coal plants as they release more carbon
dioxide emissions than gas plants. The price of those permits, however, is currently about 32 percent below last year’s record high of more than 100 euros ($108), and are currently at around 68 euros per metric ton, as energy-related deindustrialization has closed industries across Europe. When the carbon price is below 80 euros per metric ton, high efficiency coal plants may replace gas plants with 50 percent efficiency."
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** "Green policies are not just unpopular and uneconomical; they are often senseless."
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– Jonathan Miltimore, AIER ([link removed])

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Dear Wall Street, the car companies dont care about their customers and their stock price should go lower.

** Wall Street Journal ([link removed])
(7/28/24) reports: "Automakers are warning of profit pressures in their traditional car businesses, a fresh worry that adds to the challenges already posed by the industry’s costly transition to electric vehicles. Ford Motor, Tesla and Jeep-maker Stellantis last week saw their share prices hammered after posting results that fell short of Wall Street’s expectations. General Motors beat estimates and raised its full-year profit outlook, but its shares also sank. Reasons for the pressure on profits ranged from warranty expenses and bloated vehicle inventory to trouble in overseas operations. Taken together, they signaled to investors that carmakers—while pushing toward a transformation to tech-infused electric vehicles—are facing speed bumps. One particular concern among auto investors has grown louder: The strong pricing power that carmakers have enjoyed in the pandemic era is slowly fading. Several auto executives warned that in the second half of the year, they expect the average price
paid by customers will edge lower."

“I just wanted to bring attention to the disaster that happened on our shores on July 13. Washington is turning a blind eye to it, but they’re the ones funding it - so do something.” -Dan Pronk

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I love a yellow school bus as much as the next guy, but $83,333,333 per bus seems a little steep.

** Washington Free Beacon ([link removed])
(7/29/24) reports: "One of Kamala Harris's highest profile responsibilities as vice president has been spearheading the federal government's billion-dollar efforts to deploy thousands of electric buses across hundreds of school districts nationwide. But years into the program, only a small fraction of those projects have been completed while dozens of school districts have withdrawn from the program altogether...Collectively, those districts have deployed a total of 60 battery-electric or low-emissions propane-fueled school buses. And 55 additional districts have pulled out of the program, according to other federal data shared with the Free Beacon, citing a variety of technological and infrastructure concerns. In other words: More school districts have withdrawn from the program than proven that they have completed it...The Clean School Bus program was created nearly three years ago as a provision of the 2021 infrastructure bill, which put aside $5 billion for the EPA to distribute in the
form of rebates and grants over the course of five years. Since Harris's initial announcement, the agency has unveiled a $1 billion tranche of grants for 280 school districts and a second tranche of rebates, worth $900 million, for another 530 districts. None of those districts have deployed any buses under the program."
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Energy Markets


WTI Crude Oil: ↑ $77.33
Natural Gas: ↑ $2.13
Gasoline: ↓ $3.49

Diesel: ↑ $3.81
Heating Oil: ↑ $240.42
Brent Crude Oil: ↑ $80.80
** US Rig Count ([link removed])
: ↑ 604



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