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DAILY ENERGY NEWS | 11/04/2021
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** The best news from the election? All the right people are upset about the results. Listen now to the latest ([link removed]) episode of The Unregulated Podcast on our website ([link removed]) , or wherever you stream.
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** "It isn’t climate change that poses the largest threat to humanity in the early 21st century. It’s the bourgeoisie’s loss of faith in its historic project, and its arrogant generalization of that loss of faith into a new ‘green’ ideology we must all bow down before."
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– Brendan O’Neill, Sp!ked ([link removed])
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In honor of COP26, India cuts its tax on gas and diesel to help the economy.
** Reuters ([link removed])
(11/4/21) reports: "The Indian government on Wednesday reduced taxes on petrol and diesel in a bid to improve consumer sentiment, as Asia's third-largest economy recovers from the shocks of severe lockdowns to control the spread of the coronavirus. The excise duty on petrol has been reduced by 5 rupees ($0.0671) per litre, and that on diesel by 10 rupees ($0.1342) per litre, the government said in a statement. Following the federal move, at least ten states ruled by Prime Minister Narendra Modi's Bharatiya Janata Party (BJP), or his allies, said late Wednesday they would go further and reduce local fuel taxes by as much as 7 rupees a litre. The tax relief comes on the eve of the Hindu festival of Diwali, which marks the beginning of a busy festive season in India, typically marked by increased consumer spending. The federal government will face a revenue loss of between 550 billion rupees ($7.38 billion) and 600 billion rupees from the cut in taxes, a government source told Reuters,
declining to be named as the detail is not public."
Somebody should probably let Bill know that he wouldn't be here were it not for the Industrial Revolution. Maybe he would have preferred it that way. ¯\_(ツ)_/¯
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Even BoJo is in on the act. (BTW, can we have another election in the UK? I'm pretty sure everyone is onto this guy's scam by now. At this point, I'll take the Labour Party. At least they're somewhat sincere.)
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🎶 If you can't build it there, you can't build it anywhere... 🎶
** Commonwealth Magazine ([link removed])
(11/2/21) reports: "MAINE VOTERS delivered a shock to Massachusetts on Tuesday, overwhelmingly approving a ballot question that would block the Bay State’s bid to reduce its reliance on fossil fuels by building a 145-mile transmission line delivering hydro-electricity from Quebec. The ballot fight was the most expensive in Maine history. Opponents of the ballot question heavily outspent supporters and most of the state’s political and media establishment urged a no vote. But with 77 percent of the vote counted Tuesday night, the tally was 59 percent in favor of the question, 41 percent opposed...The Maine transmission line is the second attempt by Massachusetts to build a roughly $1 billion power cord to Quebec and its vast hydropower resources, which are considered crucial to Baker’s goal of achieving net zero emissions by 2050. The big advantage of hydropower is its ability to provide a reliable source of electricity around the clock; offshore wind and solar, by contrast, only generate
power when the wind is blowing or the sun is shining. The first attempt to strike a deal with Hydro-Quebec centered on a a transmission line running through New Hampshire’s White Mountains to Quebec, but that project was shut down by Granite State regulators in 2018."
Energy Markets
WTI Crude Oil: ↓ $80.50
Natural Gas: ↓ $5.62
Gasoline: ↑ $3.51
Diesel: ↑ $3.63
Heating Oil: ↑ $244.64
Brent Crude Oil: ↑ $82.06
** US Rig Count ([link removed])
: ↑ 652
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