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DAILY ENERGY NEWS | 11/14/2024
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** Everyone has a right to protest, but no cause is so great that it gives someday the right to vandalize, trespass, or endanger people's lives...
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Washington Times ([link removed]) (11/13/24) op-ed: "With the conflict in the Middle East seemingly escalating daily, we are reminded of the importance of reliable and affordable energy. The potential for volatility in global oil prices has made headlines in recent weeks. But thanks to our world-leading oil and natural gas industry, any economic shock is likely to be softer than it could have been in years past. That’s because the oil and natural gas production boom here at home has led to greater energy security for the United States and the world...From vandalizing precious art to pointing lasers at highway patrol jet pilots, activists and their funders have become emboldened to disrupt our lives and the energy sources that power them. This is not to say that protests should not be tolerated; quite the contrary. Lawful protests have and will always be a cornerstone of our First Amendment rights. Conflating
destruction and violence with free speech, however, is dangerous and can have serious implications for the safety and integrity of our nation’s energy infrastructure.
As a reminder, over 60% of our nation’s power comes from conventional energy sources such as oil and natural gas. This is why the American Energy Alliance has launched a campaign called the Pipeline Protection Project ([link removed]) . The initiative seeks to hold green activist groups accountable for their efforts to stop the construction and operation of pipelines and other critical energy sources. In doing so, the initiative will shine a spotlight on the malign tactics these groups employ to carry out their mission.
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** "Policymakers should prioritize getting the policy right over getting it done quickly. A comprehensive approach to energy permitting reform, which makes the process easier and fairer for all industries while also ensuring strong consumer protections, would best serve the American people and U.S. energy needs."
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– James Broughel, Competitive Enterprise Institute ([link removed])
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** One ([link removed])
for the road.
** Fox News ([link removed])
(11/13/24) reports: "President Biden's Environmental Protection Agency finalized a new rule Tuesday, taxing methane emissions from the oil and gas sector. The new tax was born out of Biden's sweeping climate legislation passed by Congress, known as the Inflation Reduction Act, which included a Waste Emissions Charge provision. Although the waste emissions charge was mandated by Congress, the Biden administration had discretion on how tightly to clamp down. The fee will start at $900 per metric ton of methane emitted over a specific performance level during 2024. In subsequent years, the fee will increase. In 2025, it will grow to $1,200 per metric ton. In 2026, it will increase to $1,500 per ton. Meanwhile, each subsequent year after that, the fee will continue to rise, according to the EPA...While climate change advocates, such as the Clean Air Task Force, have praised Biden's rule regulating methane emissions, Steve Milloy, a fellow at the Energy and Environmental Legal Institute,
described the action as 'irrelevant.' Milloy said that because upwards of 95% or more of the greenhouse gasses trapped by the earth's atmosphere are water vapor and carbon dioxide, little to no room remains for methane to be stored. Milloy also suggested the new methane emissions rule will likely be ineffective, considering it targets the oil and gas sector but not the agricultural sector as well. 'The largest source of methane is actually microbes,' Milloy pointed out — as opposed to man-made power plants. Microbes are tiny organisms that live in cow's stomachs, agricultural fields and wetlands, according to The Washington Post."
** ([link removed])
$921 billion sounds like a nice pay-for.
** ([link removed])
They never learn. With the election in the rear view mirror, Dems ditch the "reasonable" charade.
** Wall Street Journal ([link removed])
(11/13/24) reports: "New York Gov. Kathy Hochul is set to resurrect a toll on people driving into the busiest parts of Manhattan but at a lower cost, a move her allies hope will allow the nation’s first system of congestion pricing to begin operating before President-elect Donald Trump is inaugurated. Hochul, a Democrat, is planning to impose a $9 toll on most vehicle trips, according to people familiar with the matter. That is less than the $15 that was adopted this spring by the board of the Metropolitan Transportation Authority—which Hochul had scrapped. A spokesman for the governor said she would announce a “path forward to fund mass transit, unclog our streets and improve public health by reducing air pollution” on Thursday. The announcement has been percolating for months. Hochul said Tuesday that she had been in talks with federal officials and MTA leaders about using a lower toll for congestion pricing, which was projected to reduce traffic while raising roughly $1 billion a year to
support upgrades to the city’s subways, buses and commuter railroads. The lower $9 toll proposal was earlier reported by Politico and the New York Times...The critics said Hochul’s pause was intended to boost Democrats running in competitive U.S. House seats in the New York City suburbs, and her reversal was crassly timed after last week’s election results. Democrats in the state flipped three GOP-held House seats, including one on Long Island."
Energy Markets
WTI Crude Oil: ↑ $69.22
Natural Gas: ↓ $2.95
Gasoline: ↓ $3.08
Diesel: ↓ $3.55
Heating Oil: ↑ $223.90
Brent Crude Oil: ↑ $73.05
** US Rig Count ([link removed])
: ↓ 609
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