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DAILY ENERGY NEWS | 08/14/2024

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Was the Biden administration lying about a gas appliance ban, or do they just not know who makes what decisions?

Daily Caller (8/13/24) reports: "The Biden administration locked in a gas stove rule on Monday after insisting that it is not trying to ban gas stoves, rejecting efforts by opposed organizations to nix the rule. The Department of Energy’s (DOE) efficiency rule for gas stoves, announced in January, will come into effect as expected in January 2028, according to a Monday entry in the Federal Register. The finalized rule is less stringent than a 2023 proposal that was subsequently abandoned, and nuance in the rulemaking process allowed for the agency to walk back parts of the regulation if it received a significant volume of negative public comments on the docket, according to E&E News, but the DOE has gone ahead with its rule over the objections of several Republican state attorneys general and advocacy groups...The DOE has asserted that the suggestion the government wants to ban gas stoves is a 'myth' and 'misinformation.' Notably, Biden administration officials submitted an amicus brief asking a federal court to reverse a decision that nixed Berkeley, California’s 2019 ban on gas hookups in new buildings, a policy that ostensibly would have outlawed the installation of gas stoves in newly-constructed buildings...Beyond stoves, the DOE has also pushed energy efficiency rules for everyday items like water heaters, furnaces and pool pump motors. The Biden administration has also spent hundreds of millions of dollars to assist state and municipal governments in developing building codes intended to 'decarbonize' buildings."

"To suggest that we cannot adapt to climate changes, or survive and recover from extreme weather events, is simply absurd. To suggest that farmers should revert to … or remain stuck in … ancient farming practices and technologies – to save the world from computer-generated manmade climate disasters – is eco-imperialism at its most lethal."

– Paul Driessen.
Committee For A Constructive Tomorrow

Kamala’s energy policy is quite clear actually. No fracking. No energy production on public lands. No break from Team Biden’s war on American energy.

Reuters (8/14/24) reports: "In the 25 days since Vice President Kamala Harris entered the race for the White House, she has kept energy executives guessing. Is she the climate and anti-pollution warrior who was attorney general of California? Or the pragmatic Number Two in the Democratic Biden administration that oversaw record U.S. oil production and exports. In speeches over the last week, she has mentioned the word climate seven times, but the words energy, fracking and oil have yet to cross her lips. Opinion polls show broad support for tackling climate change, especially among younger voters. But her campaign aims to avoid alienating either side. Several aides describe her plan on controversial energy issues as one of strategic ambiguity. The goal is to attract voters in battleground states like Michigan, Pennsylvania and Wisconsin where elections are decided. There, blue-collar workers rely on extractive, power and manufacturing industries and often back Republican policies that seek to maximize and prolong fossil fuel output."

🤔

Weird how you don't hear anything about this from Kamala and the "environmental equity" crowd.

Daily Caller (8/13/24) reports: "Higher-income Americans took home the lion’s share of green energy tax credits for residential items deployed by the Biden administration in tax year 2023, according to Internal Revenue Service (IRS) data analyzed by the Daily Caller News Foundation. Around $5.5 billion of the approximately $8.4 billion in tax credit claims doled out for residential energy tax credits came from filers earning more than $100,000 annually, with six-figure-plus earners over three times more likely to claim the credits, according to the IRS data. Residential energy tax credits are composed of two parts, “energy efficient home improvement credits” for purchases like upgraded heat pumps and air conditioners and “residential clean energy credits” for purchases like solar panels and batteries, both of which were significantly expanded under the 2022 Inflation Reduction Act (IRA), according to the U.S. Department of Treasury...While the Treasury is correct that just under half of the families who claimed credits had incomes of less than $100,000, those families claimed far fewer total tax credit dollars, with filers making over $100,000 claiming twice as many tax credit dollars for residential clean energy and around 65% more tax credit dollars for home energy efficiency, according to the IRS data. Moreover, 75.7% of filers earn less than $100,000, meaning those making over $100,000 a year were twice as likely to take advantage of residential clean energy credits and four times as likely to take advantage of home energy efficiency credits."

Energy Markets

WTI Crude Oil: ↓ $77.61
Natural Gas: ↑ $2.27
Gasoline: ↑ $3.44

Diesel: ↑ $3.76
Heating Oil: ↓ $237.24
Brent Crude Oil: ↓ $80.27
US Rig Count: ↓ 615

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