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DAILY ENERGY NEWS | 09/13/2024
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** The road to an all electric future is full of potholes. As you can guess, we’re not all that sad about that.
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Tech Radar ([link removed]) (9/7/24) reports: "It's easy to lose count of the number of times a global car giant has waxed lyrical about its plans to strip its line-up of the combustion engine. Nissan’s president and CEO, Makoto Uchida, said his company would only sell EVs in Europe by 2030 at the launch of its fittingly-titled Concept 20-30 model last year, while Kia said it planned to sell 1.6 million pure-electric vehicles by that date...But what a difference a year makes. Not only have some of the world’s most influential political parties flip-flopped and backtracked on imposed deadlines for banning sales of all new internal combustion engine passenger cars, but global automakers have been similarly noncommittal...Stellantis, which owns Chrysler, Citroen, Dodge, Peugeot, Jeep and many more widely recognized automotive brands,
said it was investing more than €50 billion in electrification over the next decade to meet EV sales targets, but those too have been tempered...North American automotive powerhouse, Ford, had ambitious EV plans and targets just a couple of years ago, stating (like so many others) that its European sales would be all-electric by 2030. But a slowdown in demand for its Mustang Mach-E and Ford F-150 Lightning pick-up in the US has meant the company has been forced to pull a U-turn."
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** "Despite Governor Newsom’s and Democratic presidential candidate Kamala Harris’s support for the 'Green New Deal' and 'Net Zero' policies in California, it’s time to stimulate conversations about the generation of continuously generated electricity to meet the demands of America’s end users."
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– Ronald Stein, P.E., Heartland Institute ([link removed])

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Fewer cars or more expansive cars. The plan is working.

** Bloomberg ([link removed])
(9/12/24) reports: "The European Union should use emergency regulation to delay its 2025 emissions targets for automakers by two years, according to a draft proposition from the industry lobby seen by Bloomberg. EU rules targeting a CO2 fleet emission of about 95 grams of CO2 per kilometer per vehicle would require automakers to either halt production of about 2 million cars or be exposed to fines that could reach €13 billion ($14.3 billion) for passenger cars, according to estimates by the European Automobile Manufacturers’ Association contained in the draft and seen by Bloomberg. Van manufacturers could also face paying an additional €3 billion for falling short of targets, said the group that’s currently headed by Renault SA Chief Executive Officer Luca de Meo. 'The EU is in a crisis caused by low consumer demand for EVs and unfair competition from third country EV manufacturers, meaning that the EU industry will not be able to meet these reduction targets,' the informal document
said...Longer term, the EU is planning to phase out the sale of new combustion engine-powered vehicles by 2035, and a review of the target is due in 2026."

When you can't run on your record, make a boogey man.

** Just The News ([link removed])
(9/11/24) reports: "Americans are paying more for everything from gas to groceries, and a House Energy Committee hearing Wednesday was aiming to get some insight into the problem. The panel of witnesses included a North Carolina apple farm manager who testified that rising energy costs would leave the operation unprofitable this year. Another witness said many Americans are facing a “heat or eat” situation due to the high costs of energy. While Republican members of the committee discussed the Biden administration’s energy policies and the impacts of high energy costs on American consumers, the Democrats on the committee repeatedly deflected and echoed the Harris campaign's talking points about the Heritage Foundation's 'Project 2025.'...Rep. Gary Palmer, R-Ala., chairman of the Republican Policy Committee, pushed back on the Democrats' deflection, saying that there was no collaboration or contribution from that committee on the project. 'I haven't even read the report, so if you want to
keep misleading the American public about it, I caution you that we produce our own policy committee,' Palmer said. What energy policies would come from a Harris administration if she wins the presidential election remain unclear. The hearing comes the day after the debate between Trump and Harris. Energy was only briefly discussed during the debate. Harris reiterated that she had no intention to ban fracking despite previously supporting the position. She also said we need 'diverse sources' of energy to make the U.S. less dependent on foreign oil. She didn’t explain what those diverse sources would be."

Look what good government policy can yield.

** Reuters ([link removed])
(9/12/24) reports: "Argentina reduced its energy subsidies in the first seven months of the year by $2.7 billion, Energy Secretary Eduardo Rodriguez Chirillo said on Thursday, as part of a goal to curb the government's fiscal deficit while also working to promote investment in the energy sector. The South American country aims to advance an ambitious reform package that includes guarantees for large investments, a new hydrocarbon law, and changes to its foreign exchange system aimed at securing dividend repatriations for foreign investors, all part of President Javier Milei's move to secure capital. Rodriguez Chirillo told businessmen in Houston that Argentina achieved an energy trade balance surplus of $2.9 billion between January and July, a change from deficits in previous years. 'Our mission in the new model is that the investor can design his own model ... and knows that he has the right to export,' said Rodriguez Chirillo. The governor of Neuquen province, home to the nation's giant
Vaca Muerta shale oil and gas reserves, said at the meeting that Argentina must quickly move away from foreign exchange controls to attract oil and gas investment. 'We can multiply by six the (oil and gas) production we can offer to the world,' Governor Rolando Figueroa said, adding that clear rules, a new legal framework and a good administration of resources are essential to achieve output goals."

If you oppose a carbon tax, fee, or tariffs take a stand and ** contact us. (mailto:[email protected])

** ([link removed])

Tom Pyle, American Energy Alliance
Daren Bakst, Competitive Enterprise Institute
Phil Kerpen, American Commitment
Andrew Quinlan, Center for Freedom and Prosperity
Grover Norquist, Americans for Tax Reform
George Landrith, Frontiers of Freedom
Thomas Schatz, Citizens Against Government Waste
Richard Manning, Americans for Limited Government
Craig Richardson, E&E Legal
Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Annette Meeks, Freedom Foundation of Minnesota
Isaac Orr, Center of the American Experiment
David T. Stevenson, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America
Jon Sanders, John Locke Foundation

Energy Markets


WTI Crude Oil: ↓ $68.63
Natural Gas: ↓ $2.31
Gasoline: ↓ $3.23

Diesel: ↓ $3.62
Heating Oil: ↓ $209.25
Brent Crude Oil: ↓ $71.67
** US Rig Count ([link removed])
: ↓ 621



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