New year, new demand

View this email in your browser

DAILY ENERGY NEWS | 12/27/2024

Subscribe Now

Peak oil? Can we leave the naysayers and doomsdayers in 2024?

Oil Price (12/26/24) reports: "India’s oil demand growth is expected to exceed China’s for the first time in 2024, and continue in 2025. According to Kang Wu, global head of macro and oil demand research at SPGCI, India’s oil demand in the current year grew by 180,000 barrels per day, surpassing China’s growth at 148,000 bpd. India’s oil demand is expected to increase by 3.2% Y/Y in 2025 compared to a 1.7% clip by China. Over the past couple of decades, China has carried the lion’s share of global oil demand growth thanks to the country’s remarkable economic boom. However, that is beginning to change. The factors that helped sustain China’s rapid growth since the global financial crisis are unlikely to be replicated in the next decade, particularly in sectors of property construction and local government investment. Indeed, China’s economic slowdown has mainly manifested in the property sector’s decline, hardly surprising considering that the industry represented 20 to 25 percent of GDP at its peak."

"The nation needs the president-elect to end the war on natural gas as quickly as possible, but Pennsylvanians need it most of all. The voters who delivered the White House to Trump are counting on him to deliver a new era of jobs and affordability for us."

– Andrew J. Lewis,
The Commonwealth Foundation.

Make mining great again.

Deseret News (12/26/24) op-ed: "This is another example of an unhealthy codependent relationship in which walking away is hard, if not downright, difficult. In this case, it is the United States that is grappling with the sudden announcement that China would no long export to this country vital elements that include gallium, germanium, antimony and other super hard materials.They are dual use products. Several of them are used in the manufacture of advanced superconductors and in military applications — such as armored piercing rounds and military explosives...The Institute for Energy Research says it is simple. The Biden-Harris administration expanded its curbs on technology to China by prohibiting the sale of certain types of chips and machinery and adding 140 Chinese companies to a restricted trade list. According to Biden-Harris administration officials, the limits were a routine action to update existing curbs and close loopholes that some businesses had used to circumvent restrictions. The institute says it was the third such action against China, including an attempt to prevent it from catching up to the United States in developing advanced chips for military equipment and artificial intelligence. But it is a tough relationship to put controls on. 'The Chinese government controls the supply chains of the critical minerals and rare-earth elements through subsidies, slave labor, and purchases of ore in Africa and Latin America. By making it harder to mine for these minerals in the United States and requiring the use of “green” technologies, the Biden-Harris administration is helping China expand its market power,' the institute said. The U.S. imports gallium from Japan (26%), China (21%), and Germany (19%), along with other smaller suppliers."

Will 2025 be the year ESG mania finally fizzles out?

Manhattan Contrarian (12/23/24) blog: "My post on Saturday noted one big reason for optimism that the green energy fantasy is coming to the end of its run: the first country, Germany, has apparently begun to hit the green energy “wall.” Although Germany has never consistently reached even 50% of its electricity production from wind and solar, its ability to continue its green energy dreams has stalled: its electricity prices have soared, its manufacturing sector has been seriously undermined, its economy is in recession, and recently its green-promoting government has fallen. Its failed example now stands for others to see and avoid. And as I look around at developments since the election, I see a number of other reasons to reinforce my cautious optimism. Maybe it’s that the political environment has changed, and maybe it’s that some people are starting to recognize that you can’t beat the laws of physics; and maybe it’s some of both. Here are examples...Banks and investment firms quitting net zero 'alliances'...House Judiciary Committee issues report accusing large money managers of running a 'climate cartel'...Red state AGs sue investment firms for antitrust violations for colluding on 'climate' issues...TotalEnergies pauses major wind farm in the waters off New York and New Jersey...The new Trump administration is still almost a month away from taking office, but already the anticipation of its arrival is having the positive effect of driving some of the parasites into hiding."

Trump's gift to America: unleashing energy production.

Brietbart (12/23/24) column: "An economic boom is coming. Yes, Capitol Hill in Washington, D.C., is in disarray, but that’s nothing new. What is new, since the November election, is the surging spirit of enterprise out beyond the Beltway and all across the nation. It will change America for the richer. Indeed, it could well expand America for the larger. Just on December 22, President-elect Donald followed through on a plan that Breitbart News has been following for five years–a possible acquisition of Greenland. We see positive leading indicators all over: in surveys measuring the surging confidence of both small business and big business; in improving prospects for venture capital; in Softbank’s announcement that it will invest another $100 billion in the U.S. economy. As Elon Musk, who just by himself accounts for a big chunk of the economy, tweeted on December 13, 'Biggest vibe shift I’ve ever seen.'...Other industries, too, look to come roaring back. In his August acceptance speech to the Republican National Convention, Trump spoke of oil as 'liquid gold under our feet.' That 'gold' is so abundant that, according to the Institute for Energy Research, its total value ranks in the hundreds of trillions of dollars. Yes, that’s right: We have enough oil wealth to pay off the national debt, and then some. We just need the leeway to go and get it. Of course, it’s not just oil that beckons. We also have massive amounts—centuries’ worth—of natural gas and coal."

If you oppose a carbon tax, take a stand and contact us.

Tom Pyle, American Energy Alliance

Daren Bakst, Competitive Enterprise Institute

Phil Kerpen, American Commitment

Andrew Quinlan, Center for Freedom and Prosperity

Grover Norquist, Americans for Tax Reform

George Landrith, Frontiers of Freedom

Thomas Schatz, Citizens Against Government Waste

Richard Manning, Americans for Limited Government

Craig Richardson, E&E Legal

Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Annette Meeks, Freedom Foundation of Minnesota
Isaac Orr, Center of the American Experiment
David T. Stevenson, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America
Jon Sanders, John Locke Foundation

Energy Markets

WTI Crude Oil: ↑ $70.20
Natural Gas: ↑ $3.88
Gasoline: ↓ $3.03

Diesel: ↓ $3.50
Heating Oil: ↑ $223.06
Brent Crude Oil: ↓ $73.83
US Rig Count: ↓ 576

Donate

Subscribe to The Unregulated Podcast

Subscribe to The Plugged In Podcast

Connect with us on Facebook

Forward to a Friend

Our mailing address is:
1155 15th Street NW
Suite 525
Washington, DC xxxxxx

Want to change how you receive these emails?
update your preferences
unsubscribe from this list