Protect our pipelines

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DAILY ENERGY NEWS | 12/10/2024

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The Honorable Jason Isaacs agrees: it's time for America to Protect Our Pipelines. The latest episode of The Unregulated Podcast is now streaming on our website, or wherever you enjoy fine podcasts.

"I've been speaking on climate change for 20 years, a real and global phenomenon. But, it should be treated honestly and evaluated as trade-offs not as a religion or a cult which, unfortunately, it's become."

– Chris Wright,
Secretary of Energy Nominee

Area 1002 was specifically set aside for exploration and development, not to be the poster child for Big Green, Inc.’s fundraising.

E&E News (12/4/24) reports: "President-elect Donald Trump will get another try to unleash drilling in the Arctic National Wildlife Refuge during his second term, but oil production won’t come easy. The success of a potential drilling campaign may depend on whether North Dakota Gov. Doug Burgum (R) — Trump’s pick for Interior secretary — prioritizes Alaska oil and gas issues and whether his staff members are skilled at unraveling Biden administration rules crafted to hamper drilling in the Arctic. ANWR, treasured for its wildness, is already facing the dramatic effects of a changing climate, including thawing permafrost —an underground layer of ice, dirt and organic matter that stays frozen all year. Alaska’s remote location also makes oil drilling more expensive and risky for companies, particularly in the sensitive wildlife habitat of the refuge. Still, the potential payoff remains enticing to drilling supporters...Several Republican insiders said ANWR drilling could get a boost within hours of Trump taking office Jan. 20 with a suite of executive actions currently being inked by his transition team. Those Trump demands will likely reverse several executive actions signed by Biden when he took office in 2021. Sen. Dan Sullivan (R-Alaska) has listed more than 60 decisions during the Biden administration that he says negatively affected Alaska, including a Day 1 suspension of oil activity in the refuge."

First Vanguard, then Goldman Sachs...

Bloomberg (12/6/24) reports: "Goldman Sachs Group Inc. is walking away from the world’s biggest climate alliance for banks, in the latest sign that Wall Street is recalibrating its affiliation with such groups. Goldman has decided to no longer be a member of the Net-Zero Banking Alliance, the company said in a statement on Friday. Firms are struggling to adapt to a deluge of increasingly fragmented environmental, social and governance requirements from various standard-setters and jurisdictions. Goldman’s decision to leave NZBA was largely motivated by a need to comply with mandatory reporting guidelines, according to a person familiar with the matter who asked not to be identified discussing internal deliberations at the bank. That will be helped by the rollout of the European Union’s Corporate Sustainability Reporting Directive, the person said...Goldman has been laying the groundwork for its departure from NZBA for a while now and clients and stakeholders have been consulted, the person familiar with the decision said. A spokesperson for NZBA declined to comment. Members of the group commit to achieving net zero financed emissions by 2050 at the latest and to set interim five-year decarbonization targets...A separate climate alliance for insurers, NZIA, was gripped by an exodus last year, as firms responded to threats of antitrust litigation brought by Republican state attorneys general. And a net zero alliance for asset managers suffered a blow when Vanguard, the world’s second-largest money manager, quit back in 2022."

The foreign interests behind Big Green, Inc. are sparing no expense in attacking the America-first agenda.

Washington Free Beacon (12/6/24) reports: "Influential climate groups bankrolled by Swiss billionaire Hansjörg Wyss have emerged as some of the loudest voices opposing President-elect Donald Trump's nomination of Gov. Doug Burgum (R., N.D.) to lead the Department of the Interior...All three of those groups are cogs in Wyss's well-funded network of nonprofits, which the billionaire, despite being a foreign national, has leveraged to push far-left climate policies across the United States. The groups advocate for fossil fuel shutdowns, green energy development, and the lock-up of government-managed land. The groups' visceral reaction to Burgum's nomination suggests that Wyss's network is gearing up to fight Trump's energy agenda at every turn...The Wyss Foundation wired $2.1 million to the Wilderness Society and $400,000 to the League of Conservation Voters Education Fund, according to its tax filings covering the 2023 calendar year and first obtained by the Washington Examiner. And the Berger Action Fund, according to its tax filings covering April 2022 through March 2023, contributed $5 million to the League of Conservation Voters and $150,000 to the Wilderness Society Action Fund. Between April 2018 and March 2023, the Berger Action Fund sent a total of more than $17.5 million to the League of Conservation Voters. Those contributions, though, are only the tip of the iceberg for Wyss's environmental spending. Over the last five years, the Berger Action Fund has given a staggering $184.4 million to the Sixteen Thirty Fund, a fund that is part of the billion-dollar liberal dark money network managed by Washington, D.C., firm Arabella Advisors. The Sixteen Thirty Fund has, in turn, given millions of dollars to groups such as the Sierra Club and Natural Resources Defense Council."

The bloodbath will soon come to an end.

Wall Street Journal (12/9/24) reports: "Jeep maker Stellantis is shuffling its executive ranks in North America, a trouble spot that contributed to the recent departure of Chief Executive Carlos Tavares. The changes include the return of company veteran Timothy Kuniskis, who retired under Tavares’ tenure in June, to run Stellantis’s Ram truck brand, a Stellantis spokeswoman said. The company also named a new U.S. sales chief. 'We’re creating a streamlined structure that will drive the best outcomes for the region,' the spokeswoman said. The moves mark Stellantis’s most visible shake-up under an interim management committee headed by Chairman John Elkann, the heir to Italy’s Agnelli family, which through holding company Exor is the company’s single-largest shareholder. Tavares abruptly resigned earlier this month after a tumultuous year for the global automaker, including a plunge in sales, several executive departures, and increasing friction among the company’s U.S. dealers and politicians around the world...Chris Feuell, who ran the Ram and Chrysler brands, will retain Chrysler while assuming responsibility for the company’s Alfa Romeo brand in North America from Larry Dominique, a senior vice president who is leaving Stellantis."

Energy Markets

WTI Crude Oil: ↓ $68.23
Natural Gas: ↓ $3.09
Gasoline: ↓ $3.01

Diesel: ↓ $3.51
Heating Oil: ↑↓ $160.43
Brent Crude Oil: ↓ $71.95
US Rig Count: ↓ 610

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