The death of the planet has been greatly exaggerated.

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DAILY ENERGY NEWS | 02/15/2022

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You don't say.

Yahoo (2/15/22) reports: "'Worst-case' climate change scenarios with up to 4ºC or 5ºC of warming are no longer possible, a study has suggested. Researchers at the University of Colorado at Boulder say that such scenarios are based on outdated data from 15 years ago and are no longer likely to happen. The study also found that the goal of the Paris Climate Agreement to limit warming to 2C is still within reach. Lead author Roger Pielke Jr, professor of environmental studies at CU Boulder, said: 'This is cautiously optimistic good news with respect to where the world is today, compared to where we thought we might be.'"

"Mr. Biden, tear up your energy policy."

– Wyoming Governor Mark Gordon

There's an opportunity here for a heterodox car company to steal the show.

ABC News (2/13/22) reports: "Lamborghini, Cadillac, Porsche and Mercedes are building some of their best sports cars before hybrid powertrains and electric power rule the road. Industry watchers say consumers are racing to buy performance cars with mighty V-8, V-10 and V-12 engines for one reason: a boycott of electrification. 'After 130 years of internal combustion engines, these companies have to write one last love letter to the industry, to their fans, and go out with a bang,' Tyson Jominy, vice president of data and analytics at J.D. Power, told ABC News. 'Battery cars cannot replicate the sound, vibration and feeling of an ICE sports car.' Cadillac, the luxury brand of General Motors, will exclusively make electric cars by 2030, with the futuristic Lyriq crossover SUV the first to go on sale in spring of 2022. Before that happens, Cadillac has offered performance fans one final hurrah: the street predators CT4-V Blackwing (472 horsepower) and CT5-V Blackwing (668 hp), two sport sedans with boosted V-6 and V-8 engines that provide a visceral and exhilarating experience behind the wheel."

Gotta love checks and balances.

Axios (2/15/22) reports: "A federal judge is barring the Biden administration from using the social cost of carbon put into place on Jan. 20, 2021. The decision, issued Friday, affects the interim figure in place now, as well as an updated metric expected to be issued later this month...The case, brought by 10 states including Louisiana and West Virginia, challenged the interim metric, arguing that it was arbitrarily set and would increase the costs of energy production and other activities."

Does this help us beat China or does it hurt us?

White House (2/15/22) press release: "Today, the Biden-Harris Administration is announcing new actions across agencies to support American leadership on clean manufacturing—including low-carbon production of the steel and aluminum we need for electric vehicles, wind turbines, and solar panels, and the clean concrete we need to upgrade our transportation infrastructure. These actions will create more good-paying jobs and follow on a historic comeback for American factories, with 367,000 manufacturing jobs added during President Biden’s first year in office, the most in nearly 30 years. Further strengthening our industrial base will revitalize local economies, lower prices for consumers, provide more pathways to the middle class through union jobs, and boost American competitiveness in global markets."

Energy Markets

WTI Crude Oil: ↓ $90.91
Natural Gas: ↑ $4.27
Gasoline: ↑ $3.50

Diesel: ↑ $3.91
Heating Oil: ↓ $282.91
Brent Crude Oil: ↓ $92.93

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