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DAILY ENERGY NEWS | 10/29/2021
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** Biden drops his "legacy-defining" legislative package and... promptly leaves town??? The latest episode of The Unregulated Podcast is now streaming on our website, or wherever you listen to podcasts. ([link removed])
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** Tell us you've lost touch with reality, without telling us you've lost touch with reality.
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** "[Everyone] should understand that at the very least the forced transition to renewables will impose real costs in the form of higher energy bills. Simply put, there’s no free lunch when it comes to forced energy transitions."
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– Cornelis van Kooten, The Fraser Institute ([link removed])

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Forget "Building Back Better," the Brits will be lucky to build back at all...

** Catalyst ([link removed])
(10/26/21) column: "Energy supply problems have been causing shortages and high prices across Europe for weeks, with the United Kingdom one of the hardest hit. Electricity and fuels like gasoline and heating oil are currently experiencing record prices in the UK. The causes of the problem are multiple. The supply of natural gas has constricted lately, as Asia and Europe compete for limited resources, driving prices up. Britain is having energy supply problems as the global price of LNG (liquid natural gas) rises. This has been a problem amid low wind production. Because of the increasing use of wind power (and to a lesser extent solar power) in Britain, the country has had to rely on imports of natural gas from Russia and Venezuela to cycle up its gas plants when the wind stalls across the country...The situation in the UK right now is indicative of the consequences that come from too much government tampering in electricity markets. As they transition their energy infrastructure away from
domestic production and close reliable nuclear capacity, it comes as no great shock that a global supply problem in the LNG market would touch off such a crisis. The situation in the United Kingdom is worth watching as it evolves in the coming months. There are lessons to be learned here about what market interventions can do to harm our ability to respond effectively to sudden supply disruptions and demand shocks. When the energy market is based on political edicts, rather than real-world conditions, stark consequences begin to emerge."

Xcel wants to increase Minnesotan's electricity bills by 20% because wind and solar are so cheap.

** Star Tribune ([link removed])
(10/25/21) reports: "Xcel Energy on Monday proposed an electricity rate increase of 21.2%, or $677.4 million, over three years, with just more than half hitting Minnesotans' pocketbooks in 2022. With the rate hike, the company's average residential customers would see a 19% increase in their electricity bills from 2022 through 2024 — or on average $15 to $21 per month cumulatively...Xcel is a leading wind power provider, and it was one of the first U.S. utilities to announcement goals of 100 % carbon-free power by 2050. The company says the rate increase will allow it to lead "the clean energy transition" and to create an advanced electricity distribution grid. 'Most of the investments we are making are really driven by aging infrastructure,' Clark said. Levenson-Falk said that while it's good that Xcel is investing in renewables and related infrastructure, it appears that ratepayers would pay a disproportionate share of the tab — compared to the company's shareholders."

In 2020, China exceeded the emissions of the U.S., all of Europe, and Russia COMBINED. What did you think they were going to say?

** Bloomberg ([link removed])
(10/28/21) reports: "China said it’s sticking to existing climate change targets to zero out emissions, reducing the chances for more ambitious global action at the COP26 summit in Glasgow. The nation’s updated pledge under the Paris Agreement, known as a National Determined Contribution, reiterated the second-biggest economy’s plan to reach peak greenhouse gas emissions before 2030, and to hit net zero by 2060. In offering no advance on key targets already outlined last year by President Xi Jinping, China will add to a hardening belief that major agreements on accelerating action to limit global temperature rises to 1.5ºC will elude world leaders at the Scotland talks. Xi isn’t expected to attend...China can do more than any other country at this point to stem global warming. The nation is by far the world’s largest polluter, a major source of methane emissions, the biggest producer and consumer of coal, and has been pivotal in financing fossil fuel-fired power generation overseas."

Fortunately for us little people, COP 26 is shaping up to be an absolute failure. But we do hope the Davos crowd at least enjoys some fresh haggis, neeps, and tatties while they're there.

** CNBC ([link removed]∥=sharebar)
(10/29/21) reports: "India rejected calls to announce a net zero carbon emissions target this week, ahead of the U.N.’s global climate talks, where world leaders including Prime Minister Narendra Modi will be gathered. Despite mounting international pressure, India’s environment secretary R.P. Gupta announced that net zero was not the solution to the climate crisis, Reuters reported Wednesday. 'It is how much carbon you are going to put in the atmosphere before reaching net zero that is more important,' Gupta reportedly said. Net zero emissions refer to achieving an overall balance between greenhouse gas emissions produced and greenhouse gas emissions removed from the atmosphere, through natural means or by using the still nascent carbon capture technology. After China and the United States, India is the third-largest emitter of greenhouse gases and is still largely dependent on fossil fuels like coal and oil. India’s energy demand is expected to rise sharply over the next decade as the
economy continues on its growth trajectory."

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Apparently, Obama is leaving the basement and changing out of his sweats. Thanks, Special Envoy Kerry.

** CNN ([link removed])
(10/29/21) reports: "Barack Obama is headed to next week's big climate conference in Glasgow to try and convince the world that America is more about Joe Biden than Donald Trump. At least when it comes to fighting climate change. And at least when you judge the country as a whole and not just what's going on in Washington, where the President's climate agenda just took a major cut in Congress. It's an extremely unusual appearance by a former president at a world leaders event, but Obama aides and friends tell CNN the former President wants to help Biden win back world faith in American leadership on this issue, and get the global alliance back on track after four years of Trump...Obama's presence at the COP26 began with suggestions from climate activists. But it really took shape in conversation with John Kerry, his former secretary of state and Biden's special presidential envoy for climate, people familiar with the conversations tell CNN. The White House was eager for the help, officials
said, requesting anonymity to discuss the behind-the-scenes conversations."
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If you oppose a carbon tax, take a stand and ** contact us. (mailto:[email protected])

** ([link removed])

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: ↓ $82.34
Natural Gas: ↓ $5.62
Gasoline: ↑ $3.40

Diesel: ↑ $3.63
Heating Oil: ↓ $248.67
Brent Crude Oil: ↓ $84.24
** US Rig Count ([link removed])
: ↑ 644



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