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DAILY ENERGY NEWS | 02/18/2022
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** This is really simple, New England Senators: instead of banning exports, why not build pipelines from where the gas is to where your voters are?
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Fox Business ([link removed]) (2/15/22) reports: "Lydia Hu visited independent natural gas producer EQT in East Millsboro, Pennsylvania, Tuesday, where she spoke with CEO Toby Rice, who suggested the fix to high natural gas prices is increased production and investment in ‘adequate’ infrastructure. 'It’s because of the lack of adequate pipeline infrastructure,' he said. 'People need to be aware that we want to do more. Natural gas prices here in Pennsylvania -- $3.50 – well below what anybody’s paying in the northeast. We need more pipeline infrastructure.' EQT pointed to four pipeline projects that have been canceled since 2016, which could have served more than 25 million homes. According to Rice, these nixed projects have restricted nearly 10% of the nation’s natural gas. Rice expressed that people should be 'very upset' about the price they’re paying to heat their homes, and that
failing to implement more U.S. infrastructure will only strengthen America’s dependence on foreign energy."
[link removed]


** "If the President is serious about providing relief for Americans at the pump, or blotting Putin's manipulation of energy markets, he will stop his administration's anti-energy policies that make it harder for our own producers to...produce"
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–Mitch McConnell, Senate Minority Leader ([link removed])

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Biden's FERC shuts down gas pipelines.

** The Hill ([link removed])
(2/1/22) reports: "A federal agency that considers whether to approve or reject natural gas pipelines will now weigh the projects’ contributions to climate change as part of their decisions. In determining whether a project is in the public interest, the Federal Energy Regulatory Commission (FERC) voted on Thursday to examine greenhouse gas (GHG) emissions from the project’s construction and operations — as well as the emissions from when the gas is ultimately burned to make electricity. Environmental advocates have long criticized the agency for not considering these impacts in its reviews, and have more broadly argued that it should stop approving as many pipelines as it has in the past. While FERC’s three Democratic commissioners supported the proposal, its two Republican members opposed it. Chairman Richard Glick (D) said that under the new policy, even if a project will have significant climate change impacts, the commission could still find that its benefits outweigh those costs."

Central planning bad.

** Bloomberg ([link removed])
(2/17/22) reports: "High above the Bank of England, a weather vane tracking the wind direction connects directly to a dial in the stately building’s Court Room. In the 1800s, the bank's directors met there, and knowing which way the wind was blowing was crucial. An easterly breeze meant that ships, loaded with commodities such as copper and wheat, would be sailing up the Thames to offload their cargo, affecting demand for money in the City of London. Westerly winds meant the opposite. The weather vane is still there, but central banks have largely lost their mastery over the link between commodity markets and monetary policy. With booming raw materials markets driving the fastest inflation in decades, that's a big problem. As a result, forecasting inflation in 2022 has become more art than science. What would be the Saudi king’s response to U.S. pressure to boost oil production? What’s Vladimir Putin going to do with Europe’s gas supply? How will Beijing react to record high coal prices?
Perhaps that’s beyond the expertise of any central banker. Instead, most of them rely on rather unsophisticated tools to incorporate commodity markets into their models. Worst is their mechanical use of the futures curve for inflation forecasting."

These are the kind of performative gestures that really get "Special Envoy" Kerry out of bed in the morning.

** NPR ([link removed])
(2/16/22) reports: "Beijing Olympics organizers have repeatedly promised to host the greenest Games ever, aiming at carbon neutrality. But outside of the Olympics, things aren't so green: the central government pledged this week to run China's coal power plants at full capacity to meet energy demands. 'Coal supply will be increased and coal-fired power plants will be supported in running at full capacity and generating more electricity, so as to meet the electricity needs for production and residential consumption,' according to China's state-run Xinhua news agency. Earlier this month, Chinese officials called on coal producers to ensure a steady supply of coal — or face 'further investigation and accountability measures.' China's ongoing reliance on coal is yet another reminder of the realities that exist outside of the Olympic bubble. Officials have touted their commitment to fulfilling the Olympics' goal of being more environmentally-friendly, with government-backed media outlets stating
that 'Beijing 2022 will be the greenest and cleanest Olympic Games ever.' Beijing's diminutive Olympic cauldron was touted as a symbol of that commitment. 'It is the first time in the history of the Olympics all venues are 100 percent powered by green energy, with the ice-making technology adopted producing zero emissions,' China Daily reported."

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
Annette Thompson Meeks, Freedom Foundation of Minnesota
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: ↓ $90.97
Natural Gas: ↑ $4.60
Gasoline: ↑ $3.52

Diesel: ↑ $3.94
Heating Oil: ↓ $275.90
Brent Crude Oil: ↓ $92.43
** US Rig Count ([link removed])
: ↑ 732



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