Deeds over words

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DAILY ENERGY NEWS | 09/17/2024

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If the Dems really cared about American energy workers, they wouldn’t continue killing their high-wage jobs.

E&E News (9/17/24) reports: "Congressional Democrats introduced legislation in recent days to protect workers should their jobs disappear in the continuing transition to cleaner energy sources. Sen. Sherrod Brown (D-Ohio) and Rep. Greg Casar (D-Texas) introduced versions of the 'American Energy Worker Opportunity Act' — S. 5034 and H.R. 9557 — on Thursday. The proposal seeks to compensate fossil fuel workers who lose their jobs and, in some cases, help them transition. The legislation would help displaced fossil fuel workers with wage replacements or supplements, retirement and healthcare assistance and funding for further education and skills training. It would require agencies to prioritize hiring former fossil fuel workers for federally funded projects focused focused on addressing the energy sector’s greenhouse gas emissions."

"There are pros and cons to all forms of energy. To date, all we have heard are the benefits of clean energy. It is now time to highlight the true costs of clean energy, which must include the negative societal and environmental impact as well."

– Michael Heberling, CFACT

Energy History 101: The Uniqueness of America

AIER (9/16/24) article: "Electricity is among the most-regulated sectors of the U.S. economy. A century of public-utility regulation of entry and rates has given way to new suites of government intervention. Wholesale electricity is centrally planned in most states, creating a contrived retail market. At the same time, government policies have increasingly displaced thermal generation (natural gas, oil, coal, and nuclear) with intermittent wind and solar power, requiring costly battery storage. Today, a growing number of regions are subject to rising power rates, conservation appeals, and service interruptions. The Great Texas Blackout of February 2021 caused hundreds of deaths from a lack of heating and other services, not to mention a hundred billion dollars in damages. California, which in 2000–2001 suffered shortages that closed businesses and schools, endures 'green' electricity rates at double the national average. Other states and regions are pursuing policies that portend similar results. Economic discoordination can inconvenience, disrupt, and even kill. But this threat to reliable, affordable electricity is not the result of market failure but government failure, abetted by expert error from the knowledge problem and by politicization."

This is your industrial output on EU/Biden-Harris energy policies.

Biden Administration cracks down on refrigerants at the border while the fentanyl flows.

Bloomberg (9/17/24) reports: "The Biden administration has launched a new initiative to crack down on smugglers at US borders and ports. The concern isn’t drugs or counterfeit goods, though; it’s a refrigerant that’s also a dangerous greenhouse gas. The US Environmental Protection Agency (EPA), Customs and Border Protection (CBP) and other agencies are arming themselves with new weapons — like AI tools that can pick out suspicious shipments — and rethinking ways of teaming up to combat the threat. 'We’re deploying our enforcement authorities in ways we never have before to combat climate change,' said David Uhlmann, head of EPA’s enforcement division. In early September the agency issued an enforcement alert to spotlight the problem. The US has experienced a smuggling epidemic like this before, with HFCs’ predecessors. When dozens of nations agreed in the 1990s to ban chlorofluorocarbons (CFCs), one of the most unwelcome outcomes was the formation of a black market for people who wanted to keep using the refrigerants. The market grew so fast that, by mid-decade, $500 million of CFCs were being illegally traded each year, according to the United Nations Environment Program. Now, the Biden administration is attempting to disrupt an eerily similar pattern from playing out as a phase-out of HFCs leads to a burgeoning black market. So far, the results of the crackdown have been striking. Since the start of fiscal year 2024, the Biden administration has stopped roughly 25 illegal shipments of hydrofluorocarbons (HFCs), according to an EPA spokesman. Those shipments account for more than 211,000 metric tons of carbon dioxide, the equivalent of 50,000 gas-powered vehicles driving for a year."

Energy Markets

WTI Crude Oil: ↑ $70.96
Natural Gas: ↑ $2.41
Gasoline: ↓ $3.20

Diesel: ↓ $3.59
Heating Oil: ↑ $210.95
Brent Crude Oil: ↑ $73.37
US Rig Count: ↓ 620

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