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DAILY ENERGY NEWS | 09/25/2024
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** Sounds like the House got it right ([link removed]) , rejecting the Biden-Harris EV mandate ([link removed]) .
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Issues & Insights ([link removed]) (9/24/24) reports: "Last week, the House approved a resolution to block the Biden administration’s emissions rule that would require more than half of the automobiles sold in the new-car market to be electric by 2032. The 215 representatives who voted for the bill, including eight Democrats, are far more in tune with most of the country than the White House. The 'deplorables' and 'bitter' clingers of the industrialized world are rejecting electric vehicles. Nationwide, the inventory of unsold EVs had grown by nearly 350% over the first half of 2024, creating 'a 92-day supply — roughly three months’ worth of EVs, and nearly twice the industry average,' says Axios, which is 54 days for gasoline-powered vehicles. Ford, which lost nearly $73,000 on each EV it sold in the second quarter of 2023, continues to yield to reality, now ditching its plans to build a large electric SUV. This 'course change,' says Just the News,
'comes amid lower-than-expected demand for electric vehicles.'...'Of the U.S. consumers planning on purchasing a new vehicle in the next 24 months, only 34% intend to purchase an EV, down 14% from 48% in the 2023,' says Ernst & Young’s Mobility Consumer Index, 'a global survey of almost 20,000 consumers from 28 countries.' The story is much the same in Britain. EVs 'are losing value at an ‘unsustainable’ rate as a slowdown in consumer demand sends used car prices tumbling,' the Telegraph reported last week. Meanwhile in France, 'the EU’s second largest market for battery electric vehicles behind Germany,' deliveries have fallen by a third. Germans are likewise losing interest, as the country has 'suffered a "spectacular" drop in electric car sales as the European Union faces growing calls to delay its net zero vehicle targets,' the Telegraph said in a separate story."
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** "As more and more Americans lose access to electricity and heat in their homes because of this administration's radical climate policies, it is a great and tragic irony that Kamala Harris wants to keep them in the dark with respect to her energy plans for the next four years."
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– Dr. Kevin Roberts, Heritage Action for America ([link removed])

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It's worth noting that from 1961 to 2015, the U.S. was a net importer of gasoline.

** ([link removed])

How many of you really believe that Kamala Harris is now a fan of fracking? This is her crew...

** Common Dreams ([link removed])
(9/23/24) article: "With Climate Week underway in New York City, 106 lawmakers from the United States and around the world on Monday urged the Biden administration to reject new liquefied natural gas export permits, stressing that they 'are not in the U.S. public interest or necessary for the national or energy security of our allies.' Rejecting new permits, they wrote, 'will help protect communities from the environmental harm that fossil gas causes; promote global energy security and encourage investment and trade in clean energy technologies; and help our nations satisfy both national and global climate commitments, including those made at the 2023 U.N. climate change conference COP28 in Dubai.' The letter to U.S. President Joe Biden and Energy Secretary Jennifer Granholm was led by Sens. Ed Markey (D-Mass.) and Jeff Merkley (D-Ore.), Congresswoman Nanette Barragán (D-Calif.), and Lisa Badum, a Greens member of Germany's Bundestag. Along with other American and German lawmakers, it's
signed by members of the European Parliament and legislatures in over a dozen other countries...The letter notes that the United States is "the world's largest exporter of LNG" and warns that such exports 'affect the world's regions in various ways, but uniformly, they are negative,' with sections on Africa, Asia, the Americas, and Europe. 'Every dollar invested in unnecessary, harmful, and expensive LNG infrastructure costs us double—first, by our failure to invest instead in secure, abundant, and cheap renewable energies, and second, by locking in higher greenhouse gas emissions, with attendant future climate damage,' the letter emphasizes."

Why aren't the tech companies building their new data centers in California or New York or Massachusetts? What gives?

** Washington Post ([link removed])
(9/13/24) reports: "A regulatory dispute in Ohio may help answer one of the toughest questions hanging over the nation’s power grid: Who will pay for the huge upgrades needed to meet soaring energy demand from the data centers powering the modern internet and artificial intelligence revolution? Google, Amazon, Microsoft and Meta are fighting a proposal by an Ohio power company to significantly increase the upfront energy costs they’ll pay for their data centers, a move the companies dubbed 'unfair' and 'discriminatory' in documents filed with Ohio’s Public Utility Commission last month. American Electric Power Ohio said in filings that the tariff increase was needed to prevent new infrastructure costs from being passed on to other customers such as households and businesses if the tech industry should fail to follow through on its ambitious, energy-intensive plans. The case could set a national precedent that helps determine whether and how other states force tech firms to be accountable
for the costs of their growing energy consumption...Over the past five years, central Ohio’s data center boom has been driven by the availability of plentiful water, fiber internet and, according to Meta’s comments on the proposed tariff hike, 'the reliable and affordable electric service provided by AEP Ohio.'"

Energy Markets


WTI Crude Oil: ↓ $70.57
Natural Gas: ↑ $2.61
Gasoline: ↑ $3.21

Diesel: ↑ $3,58
Heating Oil: ↓ $216.85
Brent Crude Oil: ↓ $74.22
** US Rig Count ([link removed])
: ↓ 625



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