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DAILY ENERGY NEWS | 03/09/2022
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** It's time for Joe to break his campaign promise and end his U.S. oil embargo.
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Wall Street Journal ([link removed]) (3/8/22) editorial: "President Biden made the right decision Tuesday in banning Russian oil and natural gas imports. Yet at the same time he declared full-steam ahead on his green energy 'transition' that includes an assault on U.S. fossil fuels. The contradiction is maddening. Banning Russian energy imports is fine as far as it goes, which isn’t very. The U.S. imports only 3% of its petroleum supply and less than 1% of coal from Russia. About 70% of Russian oil currently can’t find buyers because of sanctions risk. That’s the main reason crude prices have shot up to $130 per barrel...If that’s the worry, then here’s a better idea: Stand at the White House and declare that his Administration will support the development of U.S. oil and gas. Rescind all regulations designed to curb production, development and consumption. Announce a
moratorium on new ones. Expedite permits, and encourage investment. Our guess is the price of Brent crude would fall $20 a barrel in anticipation of higher production. Yet Mr. Biden is doing precisely the opposite. On Tuesday he even blamed U.S. companies—not his policies—for not producing more. There are 9,000 available unused drilling permits, he claimed, and only 10% of onshore oil production takes place on federal land. Talk about a misdirection play."

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"No more subsidies for the fossil fuel industry. No more drilling including offshore. No ability for the oil industry to continue to drill period. It ends."
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– Joe Biden, March 2020 ([link removed])

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Larry Fink's hatchet man in the White House continues to attack American energy producers and promote reliance on Chinese minerals.

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Don't worry! You just need to make small and simple changes for climate change like completely changing your diet, not driving, and only traveling to see your parents every few years.

** The Guardian ([link removed])
(3/7/22) reports: "People in well-off countries can help avert climate breakdown by making six relatively straightforward lifestyle changes, according to research from three leading institutions. The study found that sticking to six specific commitments – from flying no more than once every three years to only buying three new items of clothing a year – could rein in the runaway consumption that is partially driving the climate crisis. The research carried out by academics at Leeds University and analyzed by experts at the global engineering firm Arup and the C40 group of world cities, found that making the six commitments could account for a quarter of the emissions reductions required to keep the global heating down to 1.5C. The Jump campaign asks people to sign up to take the following six 'shifts' for one, three or six months:
* Eat a largely plant-based diet, with healthy portions and no waste
* Buy no more than three new items of clothing per year
* Keep electrical products for at least seven years
* Take no more than one short-haul flight every three years and one long haul flight every eight years
* Get rid of personal motor vehicles if you can – and if not keep hold of your existing vehicle for longer
* Make at least one life shift to nudge the system, like moving to a green energy, insulating your home or changing pension supplier

The campaign was officially kicked off on Saturday and Bailey said there was already a growing movement emerging in response to the evidence with Jump groups up and running around the country."

And what's the big deal with ditching your car anyway? Just have your chauffeur pick you up in a Tesla.

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Energy Markets


WTI Crude Oil: ↓ $117.56
Natural Gas: ↓ $4.52
Gasoline: ↑ $4.25

Diesel: ↑ $4.88
Heating Oil: ↓ $392.63
Brent Crude Oil: ↓ $121.37
** US Rig Count ([link removed])
: ↓ 748



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