When he's right

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DAILY ENERGY NEWS | 09/12/2024

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Trump is right to call out Germany's energy policies which have been a disaster for the German people and economy. An honest media would be fact checking the German Green Party.

Reuters (9/11/24) reports: "Germany's foreign ministry mocked U.S. Republican presidential candidate Donald Trump's false assertion about immigrants eating pets in a post on the social platform X on Wednesday while pushing back against his criticism of German energy policy...He also attacked Harris' bid to move the country towards what she says will be a more diverse and sustainable mix of energy sources, saying Germany had tried and failed to give up fossil fuels. 'Like it or not: Germany's energy system is fully operational, with more than 50% renewables. And we are shutting down – not building – coal & nuclear plants. Coal will be off the grid by 2038 at the latest,' the foreign ministry said in a post on X, formerly known as Twitter...The economy ministry, which is also run by the Greens party, retweeted the post, saying: 'New coal-fired power plants? No way!'"

"For the sake of America and its allies, it’s time to choose pragmatic solutions that prioritize affordability, security, and abundance over kowtowing to fringe environmental activists in the Democratic party."

– Dan Weaver,
Pennsylvania Independent Oil and Gas Association

&

– Jeff Eshelman,
Independent Petroleum Association of America

The Biden-Harris Administration wants to dictate the types of cars and trucks available to Americans. Meanwhile, Cuba is importing affordable gas powered cars from the United States. You know, the ones the Biden-Harris Administration wants to ban. Take that in, folks.

ADN America (9/8/24) reports: "Car imports to Cuba from the United States reached $36 million between January and July 2024, according to a report published by the U.S.-Cuba Economic and Trade Council this week. Of the $36 million worth of automobiles, $34,587,077 were used car exports, reported John S. Kavulich, president of that non-governmental organization created in 1994, Martí Noticias reported. 'Vehicle sales to Cuba are part of the great story this year,' said Kavulich, who believes that this business could reach around $50 million in the coming months. In 2023, car exports totaled $9,824,627, a figure that has already been widely surpassed. Only in June of this year, purchases reached $3,705,643. The government's new measures for vehicle imports could further trigger purchases from the United States. The total cost of a vehicle imported into Cuba depends on many factors, including the initial price, import charges, tariffs and trade margins. For example, a mid-range car may cost $15,900."

England, the birthplace of the industrial revolution (which is really the energy revolution) is saying goodbye to reliable energy.

Semafor (9/4/24) reports: "The UK’s last coal plant will close this month, ending 140 years of the use of the fuel for electricity. London saw the world’s first coal-fired power plant in 1882, and the UK will likewise become the first G7 country to remove coal from its grid.The Ratcliffe-on-Soar station received its last shipment of fuel in July, and its boilers, which reached 1,000°C (1,832°F) when working, are cold. The UK’s move away from coal has been rapid: In 1990, it was still the source of most of the country’s electricity, but it has been phased out by the growth of gas and renewables. Those two sources now account for roughly a third of the country’s power each, with nuclear and bioenergy making up the rest."

Why the rush to get the walking around money out the door?

Axios (9/9/24) reports: "Announcements from the Biden administration have been coming fast and furious, from $7.3 billion for rural electric cooperatives to boost renewable power to nearing finalization of a new marine sanctuary in the last week alone. The administration is in a race against the clock to get billions in 'clean' energy funding out the door before the end of his term. Republican nominee Donald Trump has vowed to claw back unspent funding from President Biden's signature climate law. Even by the standards of previous administrations, Biden's late-stage climate and energy steps stand out, experts told Axios. The big picture: Last week's announcements alone included $100 million from the bipartisan infrastructure and climate laws to hone extreme weather and climate forecasting at NOAA and $300 million from the EPA for greenhouse gas emissions reductions in tribal communities... Biden's legacy on climate and energy policy depends in part on the administration's ability to funnel billions of dollars out the door, along with regulatory steps, during the next four months."

Energy Markets

WTI Crude Oil: ↑ $63.37
Natural Gas: ↓ $2.24
Gasoline: ↓ 3.24

Diesel: ↓ $3.63
Heating Oil: ↑ $209.94
Brent Crude Oil: ↑ $71.62
US Rig Count: ↑ 629

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