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DAILY ENERGY NEWS | 08/27/2024
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** Kamala is running with Walz. Your family, however, will be walking with Walz.
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Restoration News ([link removed]) (8/26/24) reports: "Just call him blackout boy. In 2023, Minnesota Gov. Tim Walz signed a bill into law mandating a 100% carbon-free electricity standard for his state by 2040. That’s a tall order that’s going to prove costly for his state’s energy consumers; never mind whatever fictious deadline is attached to the legislation. Energy policy analysts with experiencing modeling the impact of new regulations on reliability and affordability anticipate that Minnesota will experience higher electricity prices and California-style blackouts if the state does not reverse course. Now that Vice President Kamala Harris has tapped Walz to be her running mate on the 2024 Democratic presidential ticket, it’s worth examining how candidate Walz compares with Gov. Walz. Like many leftists out to dupe the public, Walz postured as a moderate when he was running for
governor in 2018. But he double-down on a rabidly 'progressive' climate agenda once taking office. Expect Walz and Harris to push for dramatic restrictions on Americans’ energy use if they win in November. Put simply, what is happening in Minnesota will not stay in Minnesota even if Walz tempers his tone during the president campaign...Orr and Rolling describe Walz’s so-called 'carbon-free' bill as the 'Blackout Bill' since their analysis shows that requiring the Minnesota power grid to be powered purely by wind,solar, and battery storage will result in a 55-hour blackout in the winter when the wind stops blowing. Their analysis of Walz’s wind and solar mandates is every bit as unsettling. Orr and Rolling conclude that these mandates will cost '$313 billion through 2050 while also causing electricity bills for families to increase by an average of $1,642 per year, or $136 per month, reaching an additional $2,934 by 2040.'"
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** "The U.S. Department of Transportation is misusing its regulatory authority over fuel economy standards to push the Biden-Harris administration’s radical EV goals."
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– Steven G. Bradbury, The Heritage Foundation ([link removed])
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Big Green, Inc. buys judges, prosecutors, regulators, & legislators and it's just business as usual. But an energy industry supplier buys snacks for a public meeting...
** Energy News Network ([link removed])
(8/26/24) reports: "The leader of a local anti-solar energy group admitted to Ohio regulators last week that a well-connected natural gas executive is among the group’s largest donors. The testimony by Jared Yost, founder of Knox Smart Development, offered the fullest view yet of the group’s ties to fossil fuel interests, undercutting its claims to be a 'grassroots' advocate for local farmers and other residents...Knox Smart Development emerged late last year as a high-profile local opponent of the proposed 120 megawatt Frasier Solar project, located near Mount Vernon, Ohio. Questions emerged about its funding source after it hosted a town hall meeting at a local theater with complimentary food and drinks for approximately 500 attendees. Yost disclosed during an Ohio Power Siting Board hearing last week that one of its largest donors is Tom Rastin, the former vice president of Ariel Corporation, which makes compressors for the oil and gas industry. The Washington Post reported last year
that Rastin is also a leader of The Empowerment Alliance, a dark money nonprofit that advocates for the natural gas industry."
Yeah, paying a premium to "use" intermittent power should help bring car costs down...
** American Machinist ([link removed])
(8/27/24) reports: "General Motors has agreed to a 15-year purchase agreement with NorthStar Clean Energy for renewable energy supply at three assembly plants. 'By expanding our renewable electricity portfolio, we are taking a major step forward in reducing our carbon footprint and advancing our broader sustainability goals,' stated GM’s Rob Threlkeld, director of global energy strategy. NorthStar Clean Energy develops, owns and operates wind, solar and energy storage projects and invests in new decarbonization methods and technologies. Its Arkansas photovoltaic energy installation is a 180-megawatt (MW) project installed in 2023, with over 500,000 thin-solar film panels arrayed across 2,000 acres. 'This facility not only supports our renewable electricity strategy, but also demonstrates our dedication to a sustainable future for all,' according to Threlkeld. Newport Solar will support the electricity needs of GM’s Lansing Delta Township Assembly and Lansing Grand River Assembly, in
Michigan, and the Wentzville Assembly plant in Missouri by adding renewable energy directly to the grid that currently supplies automaker’s operations."
Is the F-150 sticker shock starting to make sense? You're not just paying for the truck.
** Yahoo ([link removed])
(8/26/24) reports: "Last week, we reported that Ford was canceling its plans for a three-row electric crossover as part of an adjustment to its electric strategy because of cooling demand for EVs. Now we are getting a better look at just how much that strategy is changing and what it’ll end up costing The Blue Oval. Chiefly, Ford is expected to take on $1.9 billion in related charges and write-downs. The cancelation of this three-row EV comes after Ford said in the Spring that it would be delaying plans for the model by two years to 2027. It also comes during mounting pressure to restore aggressive discounts to get their current EVs off dealer lots...Ford said its EV business is on track to lose an eye-watering $5 billion this year alone. In the three-month period ending in June, the automaker lost about $44,000 on every electric vehicle it sold. That is not sustainable."
Energy Markets
WTI Crude Oil: ↓ $76.69
Natural Gas: ↓ $1.93
Gasoline: ↓ $3.35
Diesel: ↑ $3.70
Heating Oil: ↓ $231.60
Brent Crude Oil: ↓ $80.82
** US Rig Count ([link removed])
: ↓ 609
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