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DAILY ENERGY NEWS | 10/30/2024

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Here's 250 reasons for Pennsylvanians to go out and vote next Tuesday, if they haven't already.

Forbes (10/29/24) article: "A week before election day, as Pennsylvania looms large as the swing state to win to secure the White House, Kamala Harris has assuaged some concerns about her tolerance of fracking, the predominant method of natural gas extraction that has made the U.S. the largest natural gas producer in the world. But whether Harris would wholeheartedly support natural gas, including critical pipeline infrastructure to transport that gas for power generation, home heating and export to U.S. allies, is still hazy. The chief executive for the country’s natural gas pipeline association told Forbes, 'I think it’s unclear. I think it’s still unclear,' whether Harris would embrace the natural gas value chain... The Institute for Energy Research released a list of 250 ways the Biden Harris administration has made it harder to produce oil and gas. In short, the Biden Harris administration started off by killing the Keystone XL pipeline and imposing a moratorium on all oil and gas onshore and offshore leases. The administration is ending its tenure with a pause on new U.S. liquified natural gas exports and infrastructure projects."

"All of the claims made by NOAA and public officials claiming that the increase in BDD counts has been driven by human-caused changes in the climatology of extreme weather are not grounded in any attribution analysis whatsoever."

– Roger Pielke Jr., AEI

Michiganders are feeling the sting from the Biden-Harris war on affordable energy.

Capitol Confidential (10/29/24) reports: "Home heating costs nationwide will be higher this winter than last, according to the National Energy Assistance Directors Association. The association, a trade group of officials who administer energy-focused welfare programs, blamed the spike on the expense of maintaining grids, higher costs of natural gas, and colder weather forecasts. Some energy analysts, though, say the crisis has another cause: government policies that are driving up costs...These forecasts omit the role of federal policies in making home heating more expensive, said the Institute for Energy Research, a Washington, D.C., nonprofit that analyzes energy policies. 'Midwest states, including Michigan, are expected to see colder-than-usual temperatures this winter, but rising energy prices are primarily driven by supply limitations, not increased demand,' Alex Stevens, manager of policy and communications at the institute, told Michigan Capitol Confidential in an email. The U.S. government under the Biden administration has 'taken more than 250 actions deliberately designed to make it harder to produce energy here in America,' wrote Thomas J. Pyle, president of the institute. Those actions include numerous revocations of Trump-era policies that decreased regulations and made it cheaper to produce domestic energy. The Biden administration also instituted $150 billion in tax increases on oil and gas energy producers."

From "Save The Whales" to "Save The Subsidies," Big Green, Inc. has come a long way.

Just The News (10/27/24) reports: "GE Vernova, the company that manufactured the blade that broke off a wind turbine off the coast of Nantucket and littered the shoreline with shards of potentially dangerous fragments is taking a financial hit over the incident. In its third quarter earnings call, according to RTO Insider, the company stated its onshore wind business saw its best quarter since 2021, but the problems with its offshore business had taken the wind out of the good news. The July 13 blade failure and subsequent delays will cost the company an estimated $700 million. GE Vernova CEO Scott Strazik said the company cut offshore jobs in the third quarter, and it wouldn’t be taking new orders until there’s a substantial change in the financials of the offshore wind industry. In the meantime, GE Vernova will focus on satisfying a $3 billion offshore wind backlog...In a letter to the editor of the Current, members of ACK for Whales, said they’re 'shocked and truly disturbed' that Vineyard Wind is claiming it will soon resume construction. 'The permitting for this project has been recklessly approved from the very beginning, and the project has already exhibited an enormous failure that does not appear to have been thoroughly addressed. A blade explosion, from which we are still seeing the damage, was not even considered in Vineyard Wind’s Construction and Operations Plan,' the ACK for Whales members wrote."

The Interior Department will soon be rescued...

Energy Markets

WTI Crude Oil: ↑ $68.53
Natural Gas: ↓ $2.84
Gasoline: ↑ $3.13

Diesel: ↑ $3.57
Heating Oil: ↑ $217.75
Brent Crude Oil: ↑ $72.42
US Rig Count: ↓ 611

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