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DAILY ENERGY NEWS | 12/09/2020
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** This deranged, expensive, and unnecessary plan would never make it past voters.
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Daily Signal ([link removed]) (12/7/20) reports: "Other elected officials in Pennsylvania continue to question the constitutionality of Gov. Tom Wolf’s proposed carbon tax in the run-up to 10 public hearings that begin Tuesday on the disputed regulations to address climate change. The Pennsylvania Environmental Quality Board has approved a 'cap and trade' plan to cap carbon dioxide emissions from power plants. The plan, which the board OK’d in mid-September, would require power plants to obtain carbon dioxide allowances equal to the amount of the greenhouse gas they emit. Electric utilities that emit more than their assigned cap would have to purchase allowances at an auction to offset the excess. Elected officials in both parties, however, say that Wolf is circumventing the Pennsylvania General Assembly in an effort to impose taxes that only the state lawmakers can approve or
reject...The Institute for Energy Research, a nonprofit based in Washington that favors free market policies in the energy sector, cites figures that show electricity prices in RGGI states are 50% higher than those in Pennsylvania. Since Pennsylvania already is a net exporter of electricity and a top producer of natural gas, which helped the commonwealth to lower carbon emissions, Fritz said, he views RGGI as an 'expensive regulatory burden' that runs counter to the state’s interests. Pennsylvania’s carbon emissions have dropped by more than 30% since 2009, the year RGGI was established, according to news reports."


** "The IMF’s treatment of fossil fuel subsidies is no more than a highly sophisticated hit job. Every fairy tale needs a villain. And living happily ever after only happens in fairy tales – or in net-zero reports."
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– Rupert Darwall, RealClear Foundation ([link removed])

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California schemin', Biden's binders, electricity follies, 12 foot Frasier firs, more Covid hypocrisy, and Trump shores up the pro-cucumber vote on the latest Unregulated Podcast. Give a listen.

** ([link removed])

Consumer options, choice. How foreign to the political class.

** Bloomberg ([link removed])
(11/1/20) reports: "Hybrid cars are seeing a quiet resurgence as the boom in electric vehicles spurs automakers to give the older, cheaper technology a second look. This year has been an extraordinary one for electric-car manufacturers. Investors have embraced makers of pure-electric vehicles, driving the share prices of Tesla Inc. and Chinese competitor Nio Inc. to stratospheric levels. Drivers are also coming on board, with EV sales from China to Europe rising despite the pandemic. But the market risks becoming a crowded one, with more than 500 EV models expected to be available globally by 2022. Many conventional automakers are mulling their options, trying to decide which technologies will reign in the decades between now and a full transition away from combustion engines. The investment decisions they make today could determine whether they sink or swim. While hybrids, which blend the power of a gasoline engine with electric motors and batteries, are now more than two decades old —
the first Prius debuted in Japan in 1997 — they’re still seeing demand even as EVs loom large. Ford Motor Co. and Toyota Motor Corp. are among those releasing fresh hybrid versions of their flagship marques and investing anew in their hybrid component supply chains."

Georgians need to do the right thing so Cocaine Mitch can hold the line.

** P ([link removed])
** olitico Pro ([link removed])
(12/09/20) reports: "Climate change may not be playing the leading role in Georgia's contests for the Senate, but Democrats' hopes of enacting a significant portion of President-elect Joe Biden's $2 trillion climate change plan will hinge on the outcome of next month's runoff elections there. Democrats Jon Ossoff and Raphael Warnock will need to claim both seats from the state that Biden narrowly won in order to take control of the Senate and give Sen. Chuck Schumer (D-N.Y.) the power to set its agenda. But a victory by either GOP Sens. David Perdue or Kelly Loeffler will keep Sen. Mitch McConnell (R-Ky.) in charge and likely force Democrats to try to attach their priorities to larger legislative vehicles or to pursue narrower climate measures...Under a Republican Senate, McConnell would be expected to keep tight control over any provisions in must-pass legislative vehicles. And he's repeatedly derided even modest clean policy energy provisions as akin to the Green New Deal, the plan
pushed by progressives that called for an overhaul of the U.S. economy to fight climate change. 'He’s got a very very close eye on the mood of his caucus. Right now, the mood I see is people want to fight. He’ll adapt to that,' said Tom Pyle, president of the American Energy Alliance, which supports fossil fuels. 'This is not a climate for anything groundbreaking in terms of policy.'"

Leaving on a jet plane...

** E&E News ([link removed])
(12/9/20) reports: "Elon Musk, the CEO of Tesla Inc., said yesterday that he has moved to Texas, in part to oversee his bustling operations there and partly because he is disaffected with California. Musk, 49, disclosed the move yesterday in a video interview with Matt Murray, the editor-in-chief of The Wall Street Journal. California holds the headquarters for his two biggest companies: Tesla, the leading maker of electric vehicles, and SpaceX, which is moving aggressively into space travel with reusable rockets. But Musk said it is becoming a hard place to innovate, noting that his enterprises are now the sole automaker and aerospace manufacturer in the state, as others have moved elsewhere. 'My companies are the last two left,' he said. He compared California to a sports team that is sitting on a winning streak. 'They do tend to get a little complacent, a little entitled,' he said, 'and then they don't win the championship anymore.' In Austin, Texas, Tesla is racing to build an enormous
factory that will make the company's first pickup, dubbed the Cybertruck. It may also make the company's first proprietary battery. For SpaceX, Musk is overseeing the development of the Starship, a colossal rocket meant for interplanetary travel, at a Texas site in Boca Chica, on the coast near Brownsville."
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Energy Markets


WTI Crude Oil: ↑ $45.98
Natural Gas: ↑ $2.50
Gasoline: ~ $2.15

Diesel: ~ $2.45
Heating Oil: ↑ $142.01
Brent Crude Oil: ↑ $49.33
** US Rig Count ([link removed])
: ↓ 404



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