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MORNING ENERGY NEWS  | 07/01/2021
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Someone got to the 'federally chartered non-profit' chapter of 'Getting Yours: The Complete Guide to Government Money.'


Daily Signal (6/29/21) reports: "While working to restore wildlife and plant habitats, a federally chartered conservation foundation pays lavish salaries to officers at the expense of environmental initiatives that are central to its mission, policy analysts and former employees say.  Compensation figures in Form 990 tax records prepared for the IRS ought to raise questions about the National Fish and Wildlife Foundation’s internal financial practices and the potential impact on conservation programs, a former employee told The Daily Signal in a phone interview. Top officials, including Jeff Trandahl, the foundation’s executive director and CEO, receive annual compensation packages that appear to be “out of proportion” with those at other nonprofit conservation groups, said Alex Echols, who was the foundation’s deputy policy director from 1995 to 2000. Trandahl received $1.29 million in annual compensation in 2018 alone, according to the most recent available Form 990 tax records. By comparison, CEOs with other nonprofit conservation groups fell well short of Trandahl’s salary in recent years.  In 2017, Sierra Club Executive Director Dan Chu was paid $238,000 and American Forest Foundation President and CEO Thomas D. Martin made $386,560. In 2018, then-Natural Resources Defense Council President Rhea Suh made $543,741 and then-National Audubon Society CEO David Yarnold made $676,306."

"Please reconsider your hostility toward fossil fuels and your obsession with mandating unreliable solar and wind energy. Please join me in supporting a rapid increase in the availability of low-cost, reliable energy, including fossil fuels, so that everyone, from Puerto Rico to The Gambia to India, has the opportunity to flourish." 

 

– Alex Epstein,
Center for Industrial Progress

Government picking winners and losers, Plain and simple.


Bloomberg (6/30/21) reports: "Major climate measures sought by the White House that were left on the cutting room floor during infrastructure negotiations with Republicans will be non-negotiable items as the administration sets its sights on the next legislative vehicle, a White House official said Wednesday. A mandate that could require utilities across the nation to generate clean electricity and a tax-credit extension worth hundreds of billions of dollars for the wind, solar and other renewable energy industries are must-haves in a package being put together by the White House, Gina McCarthy, the White House’s domestic climate adviser said. 'We do have some bottom lines in this,' McCarthy said during a forum held by Punchbowl News. 'We need to make sure we are sending a signal we want renewable energy and it will win in the marketplace.' In addition, McCarthy said the White House plans to seek tax credits and consumer rebates for electric vehicles in the plan, which Democrats plan to attempt using the the so-called budget reconciliation procedure that avoids a Republican filibuster in the Senate. However, with the party having only razor thin control of the Senate, the effort is far from certain."

SCIENCE!!!!

Celebrate 100 years of the Chinese Communist Party!  Buy an EV and show you care!


Mining.com (6/30/21) reports: "BloombergNEF has upped its predictions for annual demand for lithium-ion batteries by more than a third from its previous forecast on the back of expectations for rapid growth in the passenger vehicle segment. BNEF predicts annual demand for lithium-ion batteries will pass 2.7 terawatt-hours per year by 2030 – a 35% increase from the analytics company’s forecast made last year. Passenger vehicles will represent 72% of the overall market as sales race to 14 million by 2025 from just over 3 million last year. BNEF expects China to extend its lead in the battery supply chain — particularly processing and refining. The country accounts for almost half of new lithium hydroxide projects coming online this year and has 55% of the world’s nickel sulfate market and 80% of the global market for cobalt sulfate, according to the report. The Asian nation also accounts for 95% of the world’s manganese sulfate production and almost all of the graphite used in producing materials for anodes. Despite its dominance in the supply chain, the electric car market is expected to grow fastest in Europe with Germany expected to represent 40% of total sales by 2025 versus 25% for China."

Energy Markets

 
WTI Crude Oil: ↑ $75.30
Natural Gas: ↑ $3.71
Gasoline: ↑ $3.12
Diesel: ↑ $3.24
Heating Oil: ↑ $217.06
Brent Crude Oil: ↑ $76.24
US Rig Count: ~ 542

 
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