View this email in your browser
DAILY ENERGY NEWS  | 04/12/2021
Subscribe Now

The goal is to price you out of using electricity. 


New York Post (4/9/21) reports: "Last week, the Biden administration announced 'a bold set of actions' that it said will 'catalyze' the installation of 30,000 megawatts of new offshore wind capacity by 2030. A White House fact sheet claimed the offshore push will create 'good-paying union jobs' and 'strengthen the domestic supply chain.' One problem: It didn’t contain a single mention of electricity prices or ratepayers. The reason for the omission is obvious: President Biden’s offshore-wind scheme will be terrible for consumers. If those 30,000 megawatts of capacity get built — which, given the history of scuttled projects like Cape Wind, is far from a sure thing — that offshore juice will cost ratepayers billions of dollars more per year than if that same power were produced from onshore natural-gas plants or advanced nuclear reactors...the cost issue is the one that deserves immediate attention because any spike in electricity prices will have an outsized impact on low- and middle-income consumers. Those price hikes will be particularly painful in New York and New England, where consumers already pay some of America’s highest electricity prices...Thus, the electricity from 30,000 megawatts of offshore wind could cost consumers roughly $7.6 billion more per year than if it came from advanced nuclear reactors and about $11.1 billion more than if it were produced from gas-fired generators."

"Americans pay higher 'hidden costs' [at the pump] today from bad public policy decisions made decades or even more than a century ago." 

 

– Nicolas Loris, Heritage Foundation

It's not about controlling carbon emissions, it's about controlling you. 

Forced labor used to make Chinese solar panels?  Say it ain't so!!!! 


Wall Street Journal (4/11/21) reports: "Champions of the accelerating push for solar energy around the world are confronting a previously overlooked challenge: The industry’s supply chains are heavily reliant on Xinjiang, a Chinese region the U.S. government and others say is the scene of genocide against local ethnic minorities including the mostly Muslim Uyghur inhabitants. About half the world’s supply of polysilicon, an essential ingredient in most solar panels, comes from this part of northwestern China, where human-rights groups and U.S. officials say China runs a sprawling network of internment camps that the U.S. says have held more than 1 million Uyghurs, a Muslim minority group. Some in the renewable-energy industry say they fear that polysilicon and other essential materials that come from Xinjiang could have links to forced labor. And lack of unrestricted access to Xinjiang means it is difficult to ensure suppliers aren’t somehow linked to human-rights abuses."

Isn't it great to live in a representative democracy where the rules are made by special envoys and implemented by an executive who doesn't know what he's signing?


E&E News (4/9/21) reports: "The Biden administration is preparing to throw its weight behind international efforts to alleviate climate risks that threaten the stability of the global financial system. The move, which is expected to come soon in the form of an executive order, is the latest sign that the administration will seek to mitigate climate-related financial risks as a pillar of its carbon policies. 'The directive from the top is clear,' said Rachel Kyte, a former vice president and special climate envoy at the World Bank Group. 'There's no plausible deniability [anymore]. You can't be a financial actor out there and say that you're not really clear where the administration stands on these things.' Details about the structure, scope and timing of the executive order are still emerging. But White House climate envoy John Kerry said on Wednesday that President Biden is 'poised to issue an executive order' that will require companies to be more transparent about the threats they face from climate change."

Energy Markets

 
WTI Crude Oil: ↑ $60.49
Natural Gas: ↑ $2.54
Gasoline: ↓ $2.86
Diesel: ↓ $3,08
Heating Oil: ↑ $183.31
Brent Crude Oil: ↑ $64.04
US Rig Count: ↑ 522

 

Donate
Subscribe to AEA's Unregulated Podcast Subscribe to AEA's Unregulated Podcast
Subscribe to IER's Plugged In Podcast Subscribe to IER's Plugged In Podcast
Friend on Facebook Friend on Facebook
Follow on Twitter Follow on Twitter
Forward to a Friend Forward to a Friend
Our mailing address is:
1155 15th Street NW
Suite 900
Washington, DC xxxxxx
Want to change how you receive these emails?
update your preferences
unsubscribe from this list