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DAILY ENERGY NEWS | 09/19/2024
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** There is still time to Save Our Cars ([link removed]) ...
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Daily Caller ([link removed]) (9/19/24) reports: "Energy-focused organizations called on lawmakers to scrap the Biden-Harris administration’s electric vehicle (EV) 'mandate' in a Thursday letter. More than two dozen energy groups sent the letter to every lawmaker in Congress, urging them to push through Congressional Review Act (CRA) proceedings against the Environmental Protection Agency’s (EPA) tailpipe emissions standards for light-duty vehicles. The CRA enables legislators to effectively overturn federal regulations provided a resolution targeting a specific rule can pass both chambers of Congress and gets signed by the president, or if lawmakers can manage to override a presidential veto, according to the Congressional Research Service. 'This EPA rulemaking is clearly beyond the scope of the regulatory power granted to the agency by Congress,' the letter states. 'While this overreach will be
litigated in the courts, a positive CRA decision now would ensure that consumers are protected today, rather than wait years for the issue to work its way through the court system.'...'In a move that shocks no one, the Biden-Harris EPA has once again overstepped its authority with their EV mandate. By prioritizing politics over personal freedoms, this Administration is destroying the cornerstone of our economy — consumer choice,' Tom Pyle, president of the American Energy Alliance, said. 'What the Biden-Harris Administration is trying to do with his mandate is deceptive, ill-advised, and a gross overreach of power. While it will undoubtedly be litigated by those who stand on the side of consumer choice and economic freedom, passage of the CRA resolution will ensure consumers are protected today.' Beyond the American Energy Alliance, other signatories include Americans for Prosperity, the Western Energy Alliance, Heritage Action, the Competitive Enterprise Institute and Always On Energy
Research."
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** "Biden officials tout their subsidized green energy projects, but their policies are chilling investment in projects that don’t require taxpayer funding. Meantime, Kamala Harris is trying to strike a contrast with Donald Trump by promising to support Ukraine and NATO allies. But will she lift the LNG moratorium or leave Ukraine and U.S. workers in the cold?
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– Wall Street Journal Editorial Board ([link removed])

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Alaska deserves better.

** NRCC ([link removed])
(9/17/24) reports: "37/100 — That is extreme Democrat Mary Peltola’s failing grade from the American Energy Alliance scorecard. It’s no wonder how Peltola scored much worse than the average member of Congress — Peltola repeatedly voted with Biden, Harris and far-left eco-activists against Alaska, including ANWR and NPR-A. 'Extreme Democrat Mary Peltola betrayed Alaska’s future to curry favor with San Francisco liberals. Peltola’s shameful F-minus grade underscores she’d rather cozy up to Biden, Harris and the radical Left than fight for Alaska jobs and energy freedom.' – NRCC Spokesperson Ben Petersen"

You can't have EVs without the E...

** Daily Caller ([link removed])
(9/17/24) reports: "The Biden-Harris administration says that its stringent power plant rules won’t harm long-term power reliability, but four grid operators stated the exact opposite in a legal brief filed Friday. The Environmental Protection Agency (EPA) finalized its aggressive emissions rules for America’s power plants in April, saying at the time that the regulations would “improve public health without disrupting the delivery of reliable electricity.” However, four major regional grid operators argued the exact opposite in an amicus brief filed in support of red states’ legal challenge against the rule, stating explicitly that the rules will jeopardize Americans’ ability to reliably secure sufficient amounts of power if they are enforced as is...Specifically, the EPA’s rules will mandate existing coal plants to harness 90% of their emissions by 2032 if they want to stay open past 2039, and they will also require new natural gas-fired plants to do the same in order to stay open past
2039, according to the agency. The EPA is essentially requiring power plants to meet those emissions cuts using carbon capture and sequestration (CCS) technology, which the four grid operators contend is too expensive and unproven to be mandated on such a tight timeline...Grid experts have similarly cautioned that the EPA’s rules will undermine power reliability at a time when electricity demand is expected to substantially increase due to de facto electric vehicle (EV) mandates and the rise of artificial intelligence (AI)."

As we were saying...

** Bloomberg ([link removed])
(9/19/24) reports: "Germany, hit by bad economic news in recent weeks, led a drop in European car sales last month as demand for electric vehicles cratered.
EV deliveries in the region’s biggest car market plunged 69% during August to just over 27,000 vehicles, the European Automobile Manufacturers’ Association said Thursday. The reversal comes after sales surged in Germany a year ago ahead of the government ending incentives for electric company cars. Europe’s biggest economy is weathering a spate of setbacks at its industrial core. Volkswagen AG, the continent’s biggest automaker, has scrapped a decades-old labor pact and is poised to close domestic factories in Germany for the first time ever due to lagging demand. BMW AG cut its full-year earnings guidance, partly citing sluggish EV sales. Elsewhere, chipmaker Intel Corp. has pushed back building a planned factory for which the country’s government had earmarked €10 billion ($11.1 billion) in subsidies. 'Germany’s economy isn’t gaining momentum and consumers as well as investors are holding back,' EY’s mobility lead for Western Europe, Constantin Gall, said in a note. 'Geopolitical tensions
and violent conflicts are weighing on sentiment.'...Even beyond expensive EVs, Europeans are buying fewer cars. Since reaching a peak of roughly 15 million units in 2019, a steady onslaught of problems has weighed on sales, from the pandemic and supply-chain disruptions to inflation and ongoing economic weakness, particularly in Germany, the continent’s biggest market."

Energy Markets


WTI Crude Oil: ↑ $71.64
Natural Gas: ↓ $2.26
Gasoline: ↑ $3.22

Diesel: ↓ $3.59
Heating Oil: ↑ $216.25
Brent Crude Oil: ↑ $74.36
** US Rig Count ([link removed])
: ↓ 628



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