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DAILY ENERGY NEWS | 01/07/2022
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** Hoping Russia's snow dance doesn't work is not a serious energy policy.
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Bloomberg ([link removed]) (1/6/22) reports: "Russia’s winter defeated Napoleon Bonaparte and Adolf Hitler. The bitter season has played such a historic role against the nation’s enemies that it now enjoys military rank, popularly known as General Moroz and General Zima (that is, “frost” and “winter”). In the great European natural gas battle of 2021-22, however, the weather has so far worked against Moscow. If President Vladimir Putin was counting on Moroz and Zima, the commanders have yet to show up at the Western front. Mild weather has so far crushed heating demand — and soothed the European market panic about supply that saw natural gas prices shoot up to record highs. In recent days, London, Berlin and Paris have enjoyed a spring-like weather. On New Year’s Eve, the mean temperature in north-west Europe was nearly 12 degrees Celsius, about 9 degrees above the 30-year average. A few cities
were even warmer: Zurich and Frankfurt stood at 13 degrees Celsius, compared with a normal level of around freezing for both. For Europe, which imports 40% of its gas from Russia, it has been an economic and geopolitical reprieve...Before the spell of mild winter, Europe was heading into a full-blown crisis: Gas inventories were well-below the 5- and 10-year averages. On Christmas Day, Europe had the equivalent of 629 terawatts hours of gas in storage. If a normal winter ensued, estimated inventories would fall to below 200 TWh by the end of the heating season in late March. "
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** "The U.S. is blessed with abundant natural gas and oil. Soaring energy costs for our allies require policies that support – not hinder – the safe and responsible production, transportation, and export of American natural gas."
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–Richard D. Kauzlarich, George Mason University ([link removed])

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Is aluminum important for the “clean energy economy”? Is it used for power lines? How about lightweight vehicles? And again, can anyone point us to anyplace where higher penetrations of renewables have led to lower electricity prices?

** Reuters ([link removed])
(1/6/22) reports: "It's turning into a winter of discontent for Europe's aluminium smelters as they struggle to cope with rocketing power prices across the region. Four operators have announced curtailments totalling over half a million tonnes of annual production capacity, with others flexing output to mitigate power-load price spikes. European aluminium consumers are already paying the price. Physical premiums have surged, the CME's duty-paid spot contract jumping from $290 per tonne at the start of December to a current $423. That's over and above the London Metal Exchange (LME) aluminium price , which has also opened 2022 with a bang, hitting a two-month high of $2,938.50 per tonne on Wednesday. Aluminium was the second best performer among the core LME industrial metals last year as the market priced in power-related curtailments in China. The market's power problems have now spread to Europe."

When Larry Fink argues for less investment in natural resources this is the result.

** Reuters ([link removed])
(12/9/21) reports: "Key crops, from Brazilian corn to Malaysian durians, are at risk after tight supplies and blistering prices of fertilizer have caused farmers to scrimp on vital crop nutrients, adding to global food security and inflation fears. Fertilizer costs soared this year amid rising demand and lower supply as record natural gas and coal prices triggered output cuts in the energy-intensive fertilizer sector. Urea surged more than 200% this year while diammonium phosphate (DAP) prices have nearly doubled. With global food prices at their highest in more than a decade, rising fertilizer costs will only add to pressures on food affordability, especially in import-reliant economies, while stretched budgets leave little room for government subsidies, said Frederic Neumann, HSBC's co-head of Asian economics research."

In spite of all of Larry Fink's bullying, people still see the value and the necessity of providing affordable, reliable energy.

** Epoch Times ([link removed])
(1/5/22) reports: "Oil and gas stocks outperformed fashionable environmental, social, and governance (ESG) companies in 2021. Despite getting hammered in the early days of the COVID-19 pandemic, energy businesses have returned to prominence over the past year. ExxonMobil’s stock price climbed by about 50 percent, Chevron advanced by roughly 40 percent, ConocoPhillips soared by 70 percent, and Suncor surged by 42 percent. But it has been Exxon and Chevron that have allowed many global energy equity funds to surpass a plethora of U.S. and European sustainable funds. Many ESG energy exchange-traded funds (ETF) underperformed the more conventional energy ETFs.nThe Parnassus Core Equity fund, which owns close to $23 billion in assets, saw its stock increase by 29 percent in 2021. The iShares ESG Aware MSCI USA ETF enjoyed a 26.2 percent gain in 2021. In comparison, the Energy Select Sector SPDR ETF soared by nearly 40 percent, while the Vanguard Energy ETF swelled by more than 42 percent."

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: ↓ $79.09
Natural Gas: ↑ $3.89
Gasoline: ~ $3.30

Diesel: ~ $3.57
Heating Oil: ↓ $247.16
Brent Crude Oil: ↓ $81.84
** US Rig Count ([link removed])
: ↑ 689



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