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DAILY ENERGY NEWS | 11/19/2024
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** Liberty on tap.
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"The new Congress should waste no time in rejecting the Green New Deal-lite."
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– Travis Fisher, Cato Institute ([link removed])
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EVs keep taking hit after hit. Good thing we won't be mandating them pretty soon.
** Reuters ([link removed])
(11/18/24) reports: "Embattled green tech player Northvolt has missed some in-house targets and has curtailed production at its battery cells plant in northern Sweden, according to internal company documents and company sources, underscoring the challenge of ramping up output. Two unpublished documents reviewed by Reuters, marked 'Production plan 2024,' show Northvolt has since early September been consistently missing weekly production goals for shippable cells, or cells deemed good enough to be delivered to clients. They include data as recent as the week ending Nov. 10. The documents show, along with goals for each week, a target to reach 51,000 deliverable cells in one week by the end of 2024. Contacted by Reuters, Northvolt said the targets had been set on Sept. 5 and were 'long out of date.' It did not elaborate on its current production targets, which it said are based on contracted customer deliveries."
Thank you, Toyota, for (finally) standing up to the government bullies. Would you like to join the Save Our Cars Coalition?
** CNBC ([link removed])
(11/8/24) reports: "Toyota Motor sounded the alarm Friday that California-led electric vehicle mandates that are set to start next year are 'impossible' to meet and, if they’re not changed, will lead to less customer choice in several states. Current requirements under the California Air Resources Board’s 'Advanced Clean Cars II' regulations call for 35% of 2026 model-year vehicles, which will begin to be introduced next year, to be zero-emission vehicles, or ZEV. Battery-electric, fuel cell and, to an extent, plug-in hybrid electric vehicles qualify as zero emission under the regulations. 'I have not seen a forecast by anyone … government or private, anywhere that has told us that that number is achievable. At this point, it looks impossible,' Jack Hollis, chief operating officer of Toyota Motor North America, said during a virtual media roundtable Friday. 'Demand isn’t there. It’s going to limit a customer’s choice of the vehicles they want.' The California Air Resources Board reports 12
states and Washington, D.C., have adopted the rules. Roughly half of them did so starting with the 2027 model year. The EV mandates are part of CARB’s Advanced Clean Cars regulations that require 100% of new vehicle sales in the state of California to be zero-emission models by 2035."
Who's we? Last I checked, President Biden wasn't stroking that check.
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Also, why on earth would we want to go down this road?
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Energy Markets
WTI Crude Oil: ↓ $68.96
Natural Gas: ↓ $2.96
Gasoline: ↓ $3.06
Diesel: ↑ $3.53
Heating Oil: ↑ $225.90
Brent Crude Oil: ↓ $73.24
** US Rig Count ([link removed])
: ↓ 600
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