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MORNING ENERGY NEWS | 08/05/2021
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** From 2% to 50% in 8 years? Anything is "possible" when Uncle Joe gives you a blank check backed up by the U.S. taxpayers.
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Wall Street Journal ([link removed]) (8/5/21) reports: "Roughly half of all cars and light trucks sold in the U.S. by 2030 would be electric, hydrogen-fuel cell and plug-in hybrid vehicles under voluntary targets set to be announced Thursday by the Biden administration and backed by auto makers, contingent on government support. In a joint statement, General Motors Co. , Ford Motor Co. , and Chrysler maker Stellantis NV said their commitment hinges on federal funding for manufacturing and supply-chain research and development, purchase incentives and an EV-charging network. The auto makers said their commitment was to have electric, fuel cell and plug-in hybrid vehicles comprise 40% to 50% of sales by 2030, saying the action 'represents a dramatic shift from the U.S. market today.' Biden administration officials, however, said the president plans to sign an executive order setting a voluntary
target of 50%...Other auto makers joined in supporting the administration’s efforts. In a joint statement released by the White House, BMW, HondaMotor Co., Volkswagen and Volvo said they 'remain committed to leading the industry in fighting against climate change.' 'That’s why we support the Administration’s goal of reaching an electric vehicle future and applaud President Biden’s leadership on reducing emissions and investing in critical infrastructure to achieve these reductions,' the statement said."
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** "That bigger picture shows how short-term 'savings' infrastructure bill supporters claim from states rejecting federal unemployment benefits are actually swamped by far larger cost overruns involving the same benefits last year. In effect, there’s no consequence when total pandemic spending outruns projections, but if it ever temporarily falls short of projections, it can be party time with the supposed 'savings.'"
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–Matt Weidinger, American Enterprise Institute ([link removed])

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Any word on if there are any provisions in the 2,700 pages of "infrastructure" that deal with solar power's slavery problem?

** Washington Times ([link removed])
(8/4/21) column: "The Biden Administration goal of net-zero CO2 emissions by 2050 faces some troubling supply-chain issues, like child labor in the cobalt mines of the Democratic Republic of the Congo and, not to put too fine a point on it, slave labor in China. One case in point is polysilicon. Polysilicon is one of the basic building blocks for solar panels. And solar panels are the basic building blocks for the part of the net-zero economy, you know, the economy that has no gas cooktops, gas water heaters, Bunsen burners, or gasoline-powered cars...Eighty percent of the world’s supply of polysilicon (needed for solar panels) comes from China. About half of that 80% comes from the northwestern province of Xinjiang, where a million of the local people Uyghurs have been forced into detention camps. Credible reports indicate that there are also programs to sterilize the Uyghurs. The Chinese say the camps and the forced labor are merely job training."

America, get used to the term "Energy Poverty." It's all the rage in Europe.

** Wall Street Journal ([link removed])
(8/4/21) column: "The press corps seems bored with the Senate’s 2,700-page infrastructure bill since it’s destined to pass. But the bill is more consequential than the coverage, and one theme in particular deserves more attention. The bill is a major down payment on President Biden’s Green New Deal. The Senate bill is a great leap forward for progressive ambitions to use central planning to re-engineer the electrical grid and banish carbon from the U.S. economy. The bill helps this political medicine go down by offering large subsidies that have co-opted the business lobbies...In her grandest project, Ms. Granholm is charged with creating a 'smart' and 'clean' grid that provides reliable electricity amid the surge of heavily subsidized renewable energy. That’s currently the job of regional authorities, which coordinate wholesale markets with states and utilities. Soon the feds will give the orders. In addition to $9 billion for various grid-balancing technologies, the bill 'loans' Ms.
Granholm $2.5 billion to enter 'capacity contracts' with transmission developers that will backstop their projects if there’s little market demand for renewable energy. She can also designate 'national interest electric transmission corridors' where there are constraints in delivering excess renewable energy to markets. This will let the Federal Energy Regulatory Commission overrule states on power lines, though politicians in New York can still block gas pipelines."

It's simple, in order to fix America's roads and bridges you will need to take a quick blood test every time you want to get behind the wheel.

** Washington Free Beacon ([link removed])
(8/4/21) reports: "The bipartisan infrastructure bill includes a provision that would require auto manufacturers to equip 'advanced alcohol monitoring systems' in all new cars. Buried in the massive proposal—which is already longer than 2,700 pages—is a section titled, 'ADVANCED IMPAIRED DRIVING TECHNOLOGY,' which mandates new vehicles include 'a system that … passively and accurately detect[s] whether the blood alcohol concentration of a driver of a motor vehicle is equal to or greater than the blood alcohol concentration' of .08, in which case the system would 'prevent or limit motor vehicle operation.' Automobile manufacturers would have a three-year grace period to comply with the regulation...Although the exact type of alcohol monitor the bill would require is unclear, passive alcohol sensors are described in a report by Mothers Against Drunk Driving (MADD). The group recommends 'driver monitoring systems, touch-based systems that can read your blood alcohol concentration through your
fingertips and air-sampling systems that can test and isolate just the air exhaled by the driver.' MADD president Alex Otte praised Senate negotiators for using the infrastructure bill as a vehicle to pass the group's 'most significant' legislative push in recent years."

Energy Markets


WTI Crude Oil: ↑ $68.33
Natural Gas: ↑↓ $4.18
Gasoline: ↑ $3.19

Diesel: ↑ $3.29
Heating Oil: ↑ $208.45
Brent Crude Oil: ↑ $70.62
** US Rig Count ([link removed])
: ↑ 566



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