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DAILY ENERGY NEWS | 12/19/2024

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Who writes the laws in America—Congress or unelected bureaucrats in California?

Bloomberg (12/19/24) reports: "The Biden administration has authorized California regulations that compel the sale of zero-emission vehicles over the next decade and ultimately ban the sale of conventional, gasoline-powered cars in 2035. President-elect Donald Trump has vowed to 'terminate' electric vehicle mandates, and his administration is expected to swiftly seek to revoke the approval. Yet Wednesday’s action by the Environmental Protection Agency threatens to complicate that maneuver, keeping pressure on automakers to comply with California’s requirements, potentially for years to come. The approval also represents one of the most sweeping climate policy moves by President Joe Biden, helping burnish his green bona fides weeks before he departs the White House...While Trump’s EPA can move to repeal the waivers administratively, it could take months to fully justify the reversal, much less defend it from expected legal challenges in court. To accelerate the shift, Republican lawmakers are being encouraged to repeal the waiver using special authority under the 1996 Congressional Review Act. Biden’s EPA asserts its latest actions aren’t subject to that law, and the Government Accountability Office previously ruled a waiver reversal was outside the review act’s scope. But waiver opponents are lobbying lawmakers to test that interpretation in the new year, arguing the move is essential to protect consumer choice. 'Americans should be free to choose the types of cars and trucks that best suit their needs, not ones that bureaucrats in Washington, DC and Sacramento dictate to them,' said Tom Pyle, president of free-market advocacy group the American Energy Alliance."

"Imagine Benjamin Franklin visiting us today and marveling at the wonders of AI—machines that can compose music and visual art, diagnose illnesses, and free human beings from menial labor—all of which allow us to focus more deeply on our humanity. It is a fact that the widespread use of these innovations depends on abundant electricity. Not the occasional lightning strike or static electricity from a piece of amber, but the reliable provision of massive amounts of energy by wire at industrial scale."

– Travis Fisher,
Cato Institute

American oil & gas is the cleanest in the world, but then again, this rule isn't really about the environment...

Utility Dive (12/18/24) reports: "Increased U.S. liquefied natural gas exports will contribute to higher electricity and natural gas prices, as well as increased greenhouse gas emissions and other costs, according to a U.S. Department of Energy study published Tuesday. The report 'exposes a triple-cost increase to U.S. consumers from increasing LNG exports,' Secretary of Energy Jennifer Granholm said in a statement. The Biden administration hit pause on LNG export permits in January, to allow DOE to update the underlying environmental and economic analysis for authorizations. That decision was challenged in court and President-elect Trump has vowed to end the pause, leading the Biden administration to request an end to the litigation...American Energy Alliance President Thomas Pyle said DOE’s report 'misrepresents the economic and environmental benefits of America’s global leadership in energy production.' 'The study epitomizes four years of misguided energy policy that has consistently undermined American energy independence ... [and] is one more in a long list of actions the Biden-Harris Administration has taken to suppress American energy dominance,' Pyle said."

A band-aid, not a cure.

CNN (12/17/24) reports: "Honda and Nissan are discussing a possible merger, potentially bringing together two Japanese automaking titans that have recently fallen on hard times. The companies said in statement that they have been in talks, but they offered no details or timeframe for when a deal – if one should develop – may be completed. It’s also not clear what shape the possible joint-venture could take. Nikkei first reported the news of a potential tie-up Tuesday. 'As announced in March, Honda and Nissan are exploring various possibilities for future collaboration, leveraging each other’s strengths,' the companies said in a statement Tuesday. 'If there are any updates, we will inform our stakeholders at the appropriate time.' Honda and Nissan also confirmed to CNN that Mitsubishi is part of these preliminary talks, bringing a potential third major Japanese car manufacturer into the mix. Mitsubishi did not respond to requests for comment. In March, Honda and Nissan announced that they would partner on electric vehicles and in August said they would collaborate on battery technology. But they could benefit from deepening their ties as both have faced challenges this year...Although both companies offer EVs and plug-ins – Nissan, in particular, was a pioneer in EV technology – Chinese brands like BYD have eclipsed their technology and are priced more cheaply."

Letting automakers produce cars people actually want would fix this problem….

Energy Markets

WTI Crude Oil: ↑ $71.05
Natural Gas: ↑ $3.47
Gasoline: ↑ $3.04

Diesel: ↑ $3.51
Heating Oil: ↑ $226.67
Brent Crude Oil: ↑ $73.70
US Rig Count: ↑ 584

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