Authoritarians pounce

View this email in your browser

DAILY ENERGY NEWS | 09/30/2024

Subscribe Now

The former "Special Envoy" believes the First Amendment is an obstacle...

National Review (9/29/24) reports: "Former secretary of state John Kerry recently spoke at a World Economic Forum panel and lamented the First Amendment for being a roadblock to countering online 'misinformation' and 'disinformation' about climate change. Responding to an audience question about 'climate misinformation,' Kerry described how social media make it difficult to form consensus and said the First Amendment makes it difficult to weed out 'disinformation' online. 'But, look, if people go to only one source, and the source they go to is sick and has an agenda, and they’re putting out disinformation, our First Amendment stands as a major block to the ability to be able to hammer it out of existence,' Kerry said. 'What we need is to win the ground, win the right to govern by hopefully winning enough votes that you’re free to be able to implement change,' he added, while acknowledging that different people have other visions for change."

"Vehicle mandates—de facto or direct—push us closer to the dystopian future imagined in Red Barchetta, when people have lost liberty and the pursuit of happiness. Just as the song warns, these mandates force us to comply with burdensome rules rather than allowing us the freedom to chart our own course."

– T ravis Fisher and Joshua Loucks, Cato Institute

EV sales plunge!

Bloomberg (9/29/24) reports: "This year, the EV transition is having a wobble. Governments are scaling back financial incentives for EV buyers, sales growth is stalling and the auto industry is having second thoughts about some of the investment plans that were predicated on a rapid shift to electric. What’s gone wrong? Although China continues to post healthy growth, demand in Europe and North America has been softening. According to BloombergNEF, sales of all-electric vehicles plus plug-in hybrids that can also be powered by gasoline or diesel more than doubled in 2021 and grew 62% in 2022. But growth slowed to 31% last year. China was the main driver, accounting for 59% of global sales, excluding commercial vehicles. In Europe and the US, the shift to EVs effectively went into reverse, as cars with exhaust pipes took a growing share of overall sales. The market share of battery cars in Europe shrank to 14% in August from just over 15% a year earlier. In Germany, the continent’s biggest market, EV sales plunged by 69%. Automotive researcher J.D. Power forecast that battery-powered models will account for 9% of sales in the US this year, down from a previous estimate of 12.4%."

Congratulations, U.K., on your successful energy transition. From the birthplace of the Industrial Revolution to the highest electricity prices in the developed world.

The Telegraph (9/26/24) reports: "British companies are paying the highest electricity prices of anywhere in the developed world, official data has shown. The cost of power for industrial businesses has jumped 124pc in just five years, according to the Government’s figures, catapulting the UK to the top of international league tables. It is now about 50pc more expensive than in Germany and France, and four times as expensive as in the US. The figures will fuel concerns about the future of UK industry amid warnings that high energy prices are crippling domestic manufacturers."

Restarting nuclear plants is good news, but why should taxpayers be on the hook for it?

NBC News (9/30/24) repots: "The Palisades nuclear plant in Michigan has closed a $1.5 billion loan to support the first reactor restart in U.S. history, the Department of Energy announced Monday. Palisades’ owner, Holtec International, hopes to restart the plant in the fourth quarter of 2025, subject to approval by the U.S. Nuclear Regulatory Commission. Holtec is a privately held nuclear technology company headquartered in Jupiter, Florida. 'All necessary funding has now been secured,' said Nick Culp, a Holtec spokesperson. The company will use the funds for inspections, testing, restoration, rebuilding, replacement of equipment at the plant, according to the Department of Energy. Holtec has completed all major licensing submittals to the NRC, Culp said. Company executives expect to receive a response from the NRC sometime in 2025, he said. The restart of the reactor at Palisades would mark a milestone for the nuclear industry after a decadelong wave of reactor shutdowns in the U.S. Palisades ceased operations in 2022 as nuclear efforts struggled to compete with cheap and abundant natural gas."

Energy Markets

WTI Crude Oil: ↓ $67.91
Natural Gas: ↓ $2.89
Gasoline: ↓ $3.22

Diesel: ↓ $3.57
Heating Oil: ↓ $212.61
Brent Crude Oil: ↓ $71.38
US Rig Count: ↑ 643

Donate

Subscribe to The Unregulated Podcast

Subscribe to The Plugged In Podcast

Connect with us on Facebook

Forward to a Friend

Our mailing address is:
1155 15th Street NW
Suite 525
Washington, DC xxxxxx

Want to change how you receive these emails?
update your preferences
unsubscribe from this list