But at least they found a good source.

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DAILY ENERGY NEWS | 10/29/2024
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** Shot: The New York Times
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New York Times ([link removed]) (10/28/24) reports: "The window is closing for nations to reduce enough of the pollution that is heating the planet to avoid the most dangerous levels of climate change, according to scientists across the world. And the outcome of next week’s presidential election could determine whether the United States and other countries meet that challenge. If he returns to the White House, former President Donald J. Trump, who last month called climate change “one of the greatest scams of all time,” plans to build on his first-term attacks on the environment when he pulled the United States out of the Paris climate agreement and rolled back more than 100 environmental regulations. In a second term, he has promised to end federal support for a clean energy transition and hamstring wind and solar development while expanding oil and gas production — including drilling in the fragile Arctic wilderness. He has
said he would again withdraw the country from the Paris accord and potentially go further, blocking the United States from negotiating future global climate agreements....'Energy will be front and center in terms of a Day 1, early agenda,' said Thomas J. Pyle, president of the American Energy Alliance, a conservative research group that promotes fossil fuels. 'It’s an issue that unites Republicans nearly unanimously, and President Trump has been absolutely clear in terms of how he views these issues.'"
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** "For politicians, climate policy was much easier to sell when it involved far-off, monumental promises. This is the first U.S. election in which it has become evident that though benefits remain distant, the costs are increasingly large and immediate. Voters see that—and by staying silent, it’s clear that Ms. Harris does too."
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– Bjorn Lomborg, Copenhagen Consensus ([link removed])

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Chaser: The Guardian

** The Guardian ([link removed])
(10/28/24) reports: "The climate crisis may appear peripheral in the US presidential election but a victory for Donald Trump will, more than any other issue, have profound consequences for people around a rapidly heating world, experts have warned. During his push for the White House, Trump has called climate change a 'hoax' and 'one of the great scams of all time' while vowing to delete spending on clean energy, abolish 'insane' incentives for Americans to drive electric cars, scrap various environmental rules and unleash a 'drill, baby, drill' wave of new oil and gas...Trump has coupled this with demands for unfettered oil and gas production in all corners of the US and has actively courted industry executives for donations. 'He wholeheartedly believes we should produce our own energy sources here in the US, there’s no grey area there,' said Thomas Pyle, president of American Energy Alliance, a free market group. 'President Trump marches to the beat of his own drum, he’s his own man. He
is instinctively in the right place on these issues – he wants to see more energy production across the board and less government intervention in the cars we drive and the stoves we have.'"
** ([link removed])

Ford is losing $58,391 per EV, but Team Harris wants us to think it's the future.

** Substack ([link removed])
(10/28/24) article: "The ugly EV news from Ford Motor Company just keeps coming. This afternoon, the company reported that it lost $1.224 billion in its EV business during the third quarter. In early October, the company reported EV sales “were up 14.8 percent on best-ever sales of 20,962 vehicles.” Thus, simple division shows that the storied automaker lost $58,391 for each EV it sold during the quarter. The company’s losses on its EV business, known as Model e, for the first nine months of 2024 total $3.7 billion. For reference, that $3.7 billion loss is equal to the gross profit (Ford calls it EBIT, short for earnings before interest and taxes) it made on Ford Blue, the division that makes internal combustion vehicles. Alas, these results aren’t surprising. Ford has been hemorrhaging cash on EVs for the past two years. It lost $4.7 billion on EVs in 2023 and $2.2 billion on EVs in 2022. The third-quarter numbers simply show, yet again, that Ford’s leadership has made a colossal blunder.
CEO Jim Farley and his lieutenants didn’t understand what motorists want to buy. That’s a bad thing if you’re running one of the world’s biggest car makers...The company’s losses on its EV business, known as Model e, for the first nine months of 2024 total $3.7 billion. For reference, that $3.7 billion loss is equal to the gross profit (Ford calls it EBIT, short for earnings before interest and taxes) it made on Ford Blue, the division that makes internal combustion vehicles."
** ([link removed])

Some might call this EV fueled disaster a "bloodbath" for automakers.

** Washington Times ([link removed])
(10/28/24) reports: "Volkswagen has informed employee representatives that it wants to close at least three plants in Germany, the head of the company’s works council said Monday. Employee council chief Daniela Cavallo said at a meeting with Volkswagen workers at the company’s Wolfsburg headquarters that management also plans cuts at other sites, and pledged to resist the plans, German news agency dpa reported. She said that 'all German VW plants are affected by these plans. None is safe.' The company didn’t give details of its plans. But chief personnel officer Gunnar Kilian said in a statement that 'the fact is that the situation is serious and the responsibility of the negotiating partners is enormous,' dpa reported. Volkswagen said in early September that auto industry headwinds mean it can’t rule out plant closures in its home country, and must drop a job protection pledge in force since 1994 that would have barred layoffs through 2029. CEO Oliver Blume cited new competitors entering
European markets, Germany’s deteriorating position as a manufacturing location and the need to 'act decisively.'...European automakers are facing increased competition from inexpensive Chinese electric cars. Volkswagen said last month that the company’s half-year results indicated it would not achieve its target of 10 billion euros ($10.8 billion) in cost savings by 2026."

Energy Markets


WTI Crude Oil: ↑ $67.59
Natural Gas: ↓ $2.27
Gasoline: ↑ $3.13

Diesel: ↑ $3.57
Heating Oil: ↓ $212.20
Brent Crude Oil: ↑ $71.42
** US Rig Count ([link removed])
: ↓ 607



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