Your Daily Energy News

View this email in your browser ([link removed])
DAILY ENERGY NEWS | 12/26/2024
Subscribe Now ([link removed])


** If you got an EV under the tree, hopefully there was a fire extinguisher in your stocking.
------------------------------------------------------------
Car Scoops ([link removed]) (12/23/24) reports: "Hertz is culling its portfolio of EVs in response to the sharp depreciation affecting some of its most popular models, including the Tesla Model 3. In what appears to be an aggressive effort to offload these vehicles, the rental giant has begun reaching out directly to customers currently renting them, offering an opportunity to purchase the cars outright on the spot. While we haven’t been able to find an announcement from Hertz directly regarding the scheme, a Reddit user recently shared a screenshot of an email they received from Hertz while renting a 2023 Tesla Model 3. In the email, Hertz offered the renter the chance to buy the EV for just $17,913. The renter says the Model 3 they rented had less than 30,000 miles (~48,000 km) on the clock, and having the opportunity to buy it at that price sounds like a steal. Last month, we published a story about
many of Hertz’s Tesla Model 3s being sold, but none of them were this cheap. A look through Hertz’s current inventory shows it has three 2022 Model 3s available for less than $20,000. However, they all have over 130,000 miles (~209,000 km) on the clocks"
[link removed]


** "While battalions of Gucci Gulch lobbyists are angling to preserve the corporate welfare provisions of the Inflation Reduction Act under the guise of climate action — and hare-brained, pink-haired climate activists in Europe are gluing themselves to airport runways and Van Gogh paintings — the IEA report shows that King Coal ain’t dead yet, not by a long shot."
------------------------------------------------------------


– Robert Bryce, Substack ([link removed])

============================================================

Merry Christmas, consumers!

** The Maritime Executive ([link removed])
(12/24/24) reports: "Vineyard Wind, an affiliate of Copenhagen Infrastructure Partners, confirmed in a brief statement that it is shelving the proposed Vineyard Wind 2 project in response to Connecticut’s decision not to proceed in awarding wind projects after the recent New England tri-state solicitation. The project had been selected by Massachusetts and is in a later stage of permitting at the federal level. 'With Connecticut’s decision today (December 20) not to purchase the remaining 400 MW, we are unable to contract the project’s full 1200 MW at this time. We look forward to advancing this project and participating in future solicitations,' Vineyard Offshore wrote in its response. Connecticut along with Massachusetts and Rhode Island launched the first multi-state coordinated solicitation earlier this year saying it was in response to the changing market conditions and challenges faced by offshore developers. They provided the opportunity for projects to bid either multi-state or
individually. Massachusetts and Rhode Island announced in September that they had selected three projects with a total projected capacity of 2.9 GW. The two states will share SouthCoast Wind (which received federal approvals last week) while Massachusetts also selected New England Wind 1 with 791 MW of capacity. It also said it would take 800 MW from the 1,200 MW Vineyard Wind 1 project. It implied it would be sharing the project with another state. Governor Ned Lamont and Connecticut’s regulators announced Friday that they were proceeding with solar power but decided not to take up any offshore wind in the current round."

Help is on the way...

** Daily Caller ([link removed])
(12/26/24) reports: "The Biden administration justified major crackdowns on fossil fuel and mineral development in Alaska by playing up its commitment to Native American tribes, but some community leaders who spoke with the Daily Caller News Foundation said they did not feel respected by the administration. Over the course of the last four years, the Biden administration moved to shut down drilling activity on tens millions of acres of land in the National Petroleum Reserve-Alaska (NPR-A) and the Arctic National Wildlife Refuge (ANWR), retroactively canceled lease sales and effectively blocked a major mining project in the state, often touting the administration’s commitment to protecting the environment for native communities in official statements and press releases. However, these actions were a major disappointment to some of Alaska’s natives, who told the DCNF that the administration seems to have mostly ignored their desire to allow development that generates revenues for their
communities and that they are ready to work with the incoming Trump administration to strike an appropriate balance...However, the administration’s deference to 'Indigenous Knowledge' did not mean much to some tribal leaders and officials in light of the government’s apparent disinterest in meaningfully engaging with them about key issues related to resource development."
** ([link removed])

Hard to provide value to customers and Big Green investors at the same time.

** Reuters ([link removed])
(12/19/24) reports: "Walmart said it is likely to miss its 2025 and 2030 targets for reducing planet-warming emissions due to challenges related to energy policy, infrastructure and availability of cost-effective low-carbon technologies. The U.S.-based retailer had pledged to reduce greenhouse gas emissions from its operations by 35% in 2025 and 65% in 2030, compared to levels in 2015. Neither of these targets appeared to be in reach and its progress was delayed, the company said in an update published on its website on Wednesday. Despite having a smaller carbon footprint per unit of sales compared to more polluting manufacturers and food processors, Walmart is facing some difficulties in reducing emissions due to the opening of more stores and shipment of goods. Walmart has cited three drivers of the emissions rise in 2023: pollution from aging refrigeration equipment, fuel emissions from transportation and expansion of renewable energy slowing relative to its business growth."

Energy Markets


WTI Crude Oil: ↑ $70.25
Natural Gas: ↓ $3.71
Gasoline: ↑ $3.04

Diesel: ↑ $3.51
Heating Oil: ↑ $222.38
Brent Crude Oil: ↑ $73.73
** US Rig Count ([link removed])
: ↓ 575



** Donate ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Connect with us on Facebook ([link removed])
** Connect with us on Facebook ([link removed])
** Follow us on Twitter ([link removed])
** Follow us on Twitter ([link removed])
** Forward to a Friend ([link removed])
** Forward to a Friend ([link removed])
Our mailing address is:
** 1155 15th Street NW ([link removed])

** Suite 525 ([link removed])

** Washington, DC xxxxxx ([link removed])
Want to change how you receive these emails?
** update your preferences ([link removed])

** unsubscribe from this list ([link removed])