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MORNING ENERGY NEWS  | 03/26/2021
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The red state AGs fight for their constituents. The blue state AGs file lawsuits on behalf of Michael Bloomberg. Which state would you rather live in?


Daily Caller (3/24/21) reports: "A coalition of 13 states sued President Joe Biden’s administration Wednesday over its January ban of new oil and gas leasing on federal lands. The 13-state coalition argued that President Joe Biden’s Jan. 27 executive order banning new oil and gas leases on federal lands was unlawful, according to the lawsuit filed Wednesday afternoon in U.S. District Court for the Western District of Louisiana. Louisiana Attorney General Jeff Landry announced the lawsuit alongside state lawmakers and energy officials. 'By executive fiat, Joe Biden and his administration have single-handedly driven the price of energy up — costing the American people where it hurts most, in their pocketbooks,' Landry said during a press conference Wednesday. 'Biden’s Executive Orders abandon middle-class jobs at a time when America needs them most and put our energy security in the hands of foreign countries, many of whom despise America’s greatness.' Biden’s executive order violated both the Outer Continental Shelf Lands Act and the Mineral Leasing Act, which affirm Congress’ intent to use U.S. resources to achieve energy independence, the lawsuit alleged. The leasing ban forces the U.S. to be more dependent on foreign energy sources."

"Federal agencies should never be in a position to pick winners and losers, especially as they are currently doing with energy markets." 

 

– Luke Hogg, FreedomWorks

On the latest Unregulated Podcast, Mike and Tom talk renewable energy subsidies, carbon taxes, Biden's "nothing to see here" border crisis, and the continuing shift in the base of the two parties. Plus, former EPA Chief of Staff Mandy Gunasekara joins to unravel Biden's anti-energy agenda and reveal the ONE thing the Trump Administration didn't do at EPA that they should have. Give a listen...

The show is available on Sound Cloud, iTunes, Spotify, Stitcher, and TuneIn

These guys need some advice from the Bob's...


National Review (3/22/21) reports: "Federal agencies like the Securities and Exchange Commission (SEC) have long varied in their focus and priorities, depending on their current leadership and the ideological composition of their members. In the Biden era, however, we may be seeing the dawn of a new age in the federal regulatory apparatus: one in which regulatory agencies, originally created and given their responsibilities by Congress, will begin implementing policies that are directly opposed to their statutory missions...According to its acting chair, the SEC should be free to regulate on any topic that is part of the “national conversation.” From public health to civil rights to the environment, it is difficult to imagine an issue of any substance that would not qualify as an agency priority under such a justification. And if the commission has decided that it can regulate anything under the sun (or buried beneath the Earth’s surface), what is to stop every other department, commission, and federal board from realizing an equivalent opportunity to expand its authority? So far, no one has offered an answer."

Clean, cheap energy brought to you by billions in federal subsidies (aka your money) and child labor in the Congo. Sounds like a good deal to me, said nobody.


Bloomberg (3/25/21) reports: "The clean energy industry is rushing to hitch a ride on President Joe Biden’s emerging infrastructure plan, lobbying for a decade-long extension of coveted tax credits as the White House drafts a recovery proposal that could top $3 trillion. Lobbyists for the industry want to attach the long-term extension of credits used by the wind, solar and other industries, to the plan -- a windfall that would be worth billions of dollars if successful. 'The flood gates are open,' said Paul Bledsoe, a former Senate Finance Committee staffer now with the Progressive Policy Institute. 'Everyone is trying to get the maximum amount.' Supporters are counting on Congress to use the budget reconciliation process that allows passage of some tax and spending legislation on a simple majority vote to move the infrastructure bill, since it is unlikely to garner enough Republican support. Republicans used the process in 2017 to mandate the sale of Arctic drilling rights...The effort won’t be a slam dunk. Conservatives are already mounting an effort to fight the plan, said Tom Pyle, a former adviser to Donald Trump and the president of the American Energy Alliance, a free-market advocacy group. “It’s laughable that on the one hand they claim the industry is the cheapest form of energy and that they are the fastest growing and on the other hand they are lobbying the government for 10 more years of handouts,” Pyle said in an interview. “The message I’m getting is they still need federal assistance to be a viable industry.”

If you say you are for a carbon tax and then dodge the question of how big the tax should be, critics might say that you aren't really being serious...


Reuters (3/25/21) reports: "The industry group representing oil and gas companies including Exxon Mobil Corp and Chevron Corp said on Thursday it supports a carbon price as one measure to mitigate climate change risk. Oil and gas trade group the American Petroleum Institute (API) said in a call with reporters that it endorsed a carbon-price policy to drive economy-wide solutions. 'We are not advocating a specific price,' API President Mike Sommers said on the call announcing the group’s new plan to address the risks of climate change. 'What we are saying is this is a framework through which API will advocate for specific principals.' The API plans to advocate for sensible legislation that prices carbon across all economic sectors while avoiding regulatory duplication, Sommers said. API has started to shift some of its rhetoric on climate and carbon issue as the climate-focused Biden administration came to power."

...like The Honorable Congressman Graves for example:

If you oppose a carbon tax, take a stand and contact us.
Tom Pyle, American Energy Alliance
Myron Ebell, Competitive Enterprise Institute
Phil Kerpen, American Commitment
Andrew Quinlan, Center for Freedom and Prosperity
Tim Phillips, Americans for Prosperity
Grover Norquist, Americans for Tax Reform
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Richard Manning, Americans for Limited Government
Adam Brandon, FreedomWorks
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
Nathan Nascimento, Freedom Partners Chamber of Commerce
Isaac Orr, Center of the American Experiment
David T. Stevenson & Clint Laird, 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

Energy Markets

 
WTI Crude Oil: ↑ $60.26
Natural Gas: ↓ $2.55
Gasoline: ↓ $2.86
Diesel: ~ $3.10
Heating Oil: ↑ $179.93
Brent Crude Oil: ↑ $63.45
US Rig Count: ↑ 486

 
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