Your Daily Energy News
View this email in your browser ([link removed])
DAILY ENERGY NEWS | 02/07/2022
Subscribe Now ([link removed])
** Last time I checked, the definition of capitalism didn't include colluding with politicians to drive capital away from activities you don't like at the expense of the lower and middle classes. But what do I know, I'm not super smart like Larry Fink.
------------------------------------------------------------
Wall Street Journal ([link removed]) (2/6/22) op-ed: "‘Stakeholder capitalism is not about politics. . . . It is capitalism.' Or so BlackRock CEO Larry Fink claimed in his annual letter to America’s CEOs last month, in which he called on corporate chiefs to stay true to their own companies’ 'purpose.' 'If stakeholder capitalism is capitalism, as Mr. Fink says, then the public deserves to know why he’s so adamant on drawing the distinction. He should be honest about whether he wants BlackRock’s portfolio companies to pursue their own corporate purposes or the purposes that BlackRock favors. Mr. Fink concludes the opening remarks of his annual letter by bemoaning the “erosion of trust in traditional institutions,' without offering any explanation for why that trust has waned. He would do well to consider the growing gulf between what the world’s
most influential business leaders say and what they actually mean.'"
[link removed]
** "For the last 2 decades Europe has destroyed its ability to produce and import energy from fossil fuels and nuclear—on the promise that unreliable solar and wind could replace them. But after trillions in subsidies, it’s clear that they have failed."
------------------------------------------------------------
– Alex Epstein, Energy Talking Points ([link removed])
============================================================
Mining! Mining! BAD BAD BAD!
** Arizona Republic ([link removed])
(2/4/22) reports: "Carolyn Shafer walked along a winding creek bed in the Patagonia Mountains, where oak trees and junipers dotted the grassy slopes of the canyon. The creek was mostly dry, except for a puddle in the rocky stream bed. Shafer said she’s deeply concerned about what would happen to this creek, and surrounding water sources, if the Australian mining company South32 is allowed to conduct an exploratory operation nearby called the Hermosa Project. South32, acting through its U.S. subsidiary Arizona Minerals, aims to extract silver, lead, zinc and manganese. The company says these minerals will feed the United States' growing demand for base metals as the country moves toward producing more electric vehicles. Zinc, silver and lead can be used for renewable energy infrastructure, including electric vehicles and solar-powered batteries. Manganese, considered a critical mineral by the U.S. government, is important for electric vehicle batteries."
Congratulations to the former German Chancellor for landing a board seat on Gazprom. All that time being Putin's puppet has really paid off for you, Gerhard.
** ([link removed])
Green is definitely not your color, BoJo. Not sure if your "rethink" is going to save you.
** Bloomberg ([link removed])
(2/4/22) reports: "Companies are defending Britain’s net-zero plans as the best way to resolve the energy crisis in the long term, after a report that close advisers to the prime minister are warning that a rethink of the policy is needed. Chief executives of SSE Plc and the U.K. arm of Siemens AG said that a faster pivot toward renewables is the best way to cut exposure to volatile natural gas markets. The Telegraph reported Friday that a number of ministers are advocating a slowdown of the net-zero plans because households are paying for it through a green levy on their rising energy bills...The U.K. is facing a cost-of-living crisis that’s only set to get worse. Regulator Ofgem on Thursday announced a 54% increase in energy bills from April and Chancellor Rishi Sunak followed with a 9 billion-pound package to help alleviate some of the burden on households. Forward markets show high prices will continue into next winter. The wholesale price of gas in the U.K. has more than quadrupled in
the past year, driven by perilously low storage levels in Europe. The region has been starved of gas from top supplier Russia since last summer and prices have been volatile as regional geopolitical tensions over Ukraine bring the risk of interrupting energy flows. Still, strong liquefied natural gas imports over the last few weeks, as well as milder weather in Europe, have brought consumers some relief, with prices more than halving from December records."
Energy Markets
WTI Crude Oil: ↓ $90.98
Natural Gas: ↓ 4.27
Gasoline: ↑ $3.44
Diesel: ↑ $3.80
Heating Oil: ↑ $288.53
Brent Crude Oil: ↓ $92.56
** US Rig Count ([link removed])
: ↑ 734
** Donate ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Connect with us on Facebook ([link removed])
** Connect with us on Facebook ([link removed])
** Follow us on Twitter ([link removed])
** Follow us on Twitter ([link removed])
** Forward to a Friend ([link removed])
** Forward to a Friend ([link removed])
Our mailing address is:
** 1155 15th Street NW ([link removed])
** Suite 900 ([link removed])
** Washington, DC xxxxxx ([link removed])
Want to change how you receive these emails?
** update your preferences ([link removed])
** unsubscribe from this list ([link removed])
