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DAILY ENERGY NEWS  | 11/04/2024
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You know what Team Harris hasn't talked about at all in her entire truncated campaign? Climate. Gee, I wonder why? 🤔


Real Clear Energy (11/3/24) article: Harris’ message now sounds a lot like Trump. She celebrates record-high oil and gas production and even tries to take some level of credit as these production numbers are the result of Biden-Harris policies. And in interviews and even at the  Presidential debate against President Trump, Harris walked back her previous position, claiming 'I will not ban fracking.' Someone on her campaign team must have read the polls or seen the focus groups. No matter the survey or its source, the number one issue on voters’ minds is inflation and the cost of food. Just recently, when asked about her top priority on 'day one' if she were to win, Harris said, 'reduce the cost of living.' The most surefire way to achieve such a goal is by lowering energy costs.

"The climate has been changing ever since the earth started turning, and it will continue to change long after us.  There is no climate crisis that justifies Maine take these extremely damaging actions, as Maine accounts for a mere .000098 percent of the world’s carbon emissions."

 

– Representative Reagan Paul, Maine House of Representatives

State control always leads to darkness. Are you listening, Governor Gavin?


Foundation for Economic Education (11/2/24) commentary: In recent weeks, Ecuador has faced a severe energy crisis, with power outages lasting up to 10 hours daily, affecting millions of citizens. The main causes are a prolonged drought and a highly centralized electricity sector.  Ecuador’s energy crisis illustrates a broader economic principle: the risks of centralized, state-controlled systems. When vital sectors like electricity are monopolized by the state, they become rigid and less responsive to external shocks, such as natural disasters. Centralization stifles competition and innovation, restricting the ability to adapt and respond quickly to crises. 

Wait, Biden & Harris were wrong again?


Forbes (10/31/24) commentary: The foundational basis for the Biden-Harris permitting pause related to liquefied natural gas export facilities has fallen apart in recent weeks, and now the administration’s apparent anti-natural gas bias seems to be impacting funding decisions by the U.S. Export/Import Bank, called EXIM, as well. The White House’s LNG pause decision was based on an inaccurate preview of an analysis by Robert Howarth, a Cornell University faculty member who has been a long-time critic of American natural gas and LNG. In a preview of his study released in January, Howarth originally claimed LNG’s life-cycle emissions range between 24% and 247% greater than coal. But the final release of that study, published in September, landed on a claim of 33%, a fraction of the original range claimed in the preview.

Biden's "signature climate change law" is paying dividends. For China, that is.


E&E News (11/1/24) reports: A year ago, the Biden administration accused one of China’s largest solar manufacturers of evading American tariffs. Now the company is building a massive panel factory in Texas — and it could receive more than $1 billion in tax subsidies under President Joe Biden’s signature climate law. The strategic move by Trina Solar marks an emerging dilemma for U.S. officials: Should America reward the companies of one of its biggest adversaries for creating domestic jobs and expanding clean energy? Giving billions in taxpayer money to Chinese businesses could drive down the cost of solar energy, create jobs and cut greenhouse gas emissions. But it could also sideline American manufacturers that are struggling to compete with cheap Chinese-made imports and sink U.S. efforts to build clean energy technologies at home.

Energy Markets

 
WTI Crude Oil: ↑ $71.47
Natural Gas: ↓ $2.66
Gasoline: ↓ $3.10
Diesel: ↓ $3.55
Heating Oil: ↑ $228.02
Brent Crude Oil: ↑ $75.00
US Rig Count: ↑ 611

 

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