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DAILY ENERGY NEWS | 01/03/2025
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** Voters spoke loud and clear, but Big Green, Inc. is having nothing to do with it.
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Just The News ([link removed]) (12/2/24) reports: "When a Consumer Project Safety commissioner suggested in 2023 that the federal government would consider banning gas stoves over safety concerns, it set off fierce nationwide backlash. While the Energy Department finalized stove efficiency standards, they were watered down from the original proposal and no outright ban ever materialized. No federal ban on gas stoves materialized, but climate advocates seeking to stop consumers from accessing natural gas have tried a number of state and local efforts to achieve their goals – all with similar results as that on the federal level. Despite more recent losses, they’re looking at trying some other strategies. Last month, voters in Washington approved a ballot measure to protect consumers’ access to natural gas, and Berkeley, California, voters soundly rejected a measure that would have
taxed natural gas emissions in large buildings, with the funds going toward decarbonization programs. Opponents of the measure said the tax would have made natural gas an unaffordable option, and therefore, the measure was a de facto ban. Despite voter approval, Washington climate advocates are now taking the matter to the court. A conservation group, a solar industry group, the city of Seattle, and King County filed a lawsuit to overturn the Washington measure, arguing that it violates state Constitutional limits on how many subjects can be included in a ballot measure."
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** "AI has the potential to solve some of humanity’s greatest challenges, but this potential will be squandered if we cling to an outdated energy model incapable of meeting the demands of the future. We must unleash the ingenuity of entrepreneurs and innovators eager to rise to AI’s energy challenge—or to the challenge posed by any other as-yet-created high-energy sector that could transform our lives for the better."
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– Travis Fisher & ([link removed]) Joshua Loucks ([link removed]) , Cato Institute ([link removed])

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It's time to start mining at home again.

** Economic Times of India ([link removed])
(12/26/24) reports: "China prohibited the United States from purchasing these minerals. We all care about it. Another instance of an unhealthy codependent relationship where it is difficult, if not impossible, to leave is this one. In this instance, the abrupt announcement that China would no longer export essential elements, such as gallium, germanium, antimony, and other extremely hard materials, to the United States is causing the country to struggle, as quoted in a report by Desert News. They are products with two uses. Many of them are employed in the production of cutting-edge superconductors as well as in military applications...The Biden-Harris administration has expanded its technology curbs to China by prohibiting certain types of chips and machinery and adding 140 Chinese companies to a restricted trade list. The move is a routine action to update existing curbs and close loopholes. The Institute for Energy Research says this is the third such action against China, including an
attempt to prevent it from catching up to the US in developing advanced chips for military equipment and artificial intelligence."

The EV bubble is bursting, even before Trump takes office.

** CNBC ([link removed])
(1/2/25) reports: "Tesla posted its fourth-quarter vehicle production and deliveries report on Thursday. Here are the key numbers: Total deliveries Q4 2024: 495,570. Total production Q4 2024: 459,445. Total annual deliveries 2024: 1,789,226. Total annual production 2024: 1,773,443. Results for the quarter represented the first annual drop in delivery numbers for Tesla, which reported 1.81 million deliveries in 2023. It reported 484,507 deliveries in the fourth quarter of 2023. Tesla shares fell by as much as 7% in trading on Thursday. Analysts had expected Tesla to report deliveries in the quarter of 504,770, including 474,000 Model 3 and Model Y EVs, according to a consensus of estimates compiled by StreetAccount. Tesla sent some investors a company-compiled delivery consensus of 506,763 vehicles, based on a survey of 26 analysts. A widely followed independent Tesla researcher, who publishes as Troy Teslike, predicted deliveries of 501,000. Deliveries are the closest approximation of sales
reported by Tesla but are not precisely defined in the company’s shareholder communications."

The irony of EVs is that they depend on oil just like everything else.

** Oil Price ([link removed])
(12/28/24) reports: "In the new hit TV show 'Landman,' the lead character, Tommy Norris, delivers a five-minute speech that summarizes just how critical for modern civilization crude oil is. Everything, up to and including wind turbines, depends on oil. This year, with record EV sales in China and the continued buildout of wind and solar in Europe, has proven just how pertinent that speech is to the current state of the energy transition—or the absence of it. About a month ago, the World Bank predicted in a blog post that crude oil demand would hit 103 million barrels daily in 2024. What the World Bank noted was that this number represented slowing demand. What the World Bank did not mention was that the number also represented another all-time high for oil demand...It is worth noting that China’s demand growth is seen picking up despite the bullish EV sales predictions from other forecasters. The reality of oil demand is that it underpins everything, including EV manufacturing, given the
multitude of petroleum derivatives that EVs feature. One could go as far as to say there could be no energy transition without the very hydrocarbons that transition advocates want to do away with and that would be a statement of fact. This is why oil demand growth may moderate in the coming years but it would be a while yet before it starts declining."

If you oppose a carbon tax, take a stand and ** contact us. (mailto:[email protected])

** ([link removed])

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: ↑ $73.19
Natural Gas: ↓ $3.49
Gasoline: ↑ $3.06

Diesel: ↑ $3.51
Heating Oil: ↓ $234.06
Brent Crude Oil: ↑ $75.94
** US Rig Count ([link removed])
: ↑ 577



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