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DAILY ENERGY NEWS | 03/16/2022
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** C'mon man, this isn't a joke. We're not kidding.
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Real Clear Energy ([link removed]) (3/15/22) reports: "Ask Joe Biden a question about rising energy costs and he’ll be quick to fix the blame on Russian dictator Vladimir Putin while sidestepping any responsibility for his own policy failures. But Putin’s authoritarian regime has only accelerated a process that was already in motion prior to the Russian invasion of Ukraine. After mismanaging the U.S. economy for the past year, Biden’s incessant “C’mon Man” routine is not playing well with the public. A broad cross section of polls shows Biden’s job approval ratings remain underwater. The soaring inflation and rising gas prices that have been evident to American consumers long before the Russian invasion are at least partly responsible for Biden’s negative numbers. That was one of the central messages Tom Pyle, president of the Institute for Energy Research, delivered during his March
8 testimony before the House Committee on Energy and Commerce...'Unfortunately, but not surprisingly, in the wake of the 2020 election, President Biden made it clear that he intended to be an energetic advocate against the oil, coal, and natural gas that makes modern life possible,' Pyle said in his testimony...From here, Team Biden’s self-inflicted wounds only became worse, Pyle explained, as the administration took 'numerous actions designed to reduce the enthusiasm of energy companies to find, produce, and transport, domestic oil and natural gas.'"
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** "It’s beyond vile for Biden to pretend it’s all Putin’s fault, hoping the American people are too dim to notice their own costs started soaring long before the invasion of Ukraine."
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– New York Post Editorial Board ([link removed])

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Did anyone really expect Big Green, Inc. to go after some of their greatest benafactors?

** Washington Free Beacon ([link removed])
(3/14/22) reports: "The World Wildlife Fund blocked its Ukraine chapter from signing a public statement last week denouncing the Russian government's invasion, claiming that it could harm the group's 'long-term ability to do conservation work across the world,' according to a Ukrainian environmental activist. The WWF-Ukraine chapter had added its name to a joint statement this month, organized by the Ukrainian Nature Conservation Group (UNCG), which called on democratic governments to ban imports of Russian timber and wood products, a $13 billion industry, and denounced Russia's 'aggressive war against Ukraine,' according to the UNCG...WWF's international management reportedly asked Hrynyk to remove WWF-Ukraine's name, arguing that 'as an international conservation organization we need to stick to stricter guidelines that safeguard our long-term ability to do conservation work across the world.' The letter was signed by more than 100 NGOs, including the Rainforest Action Network and Global
Witness. The move comes as the WWF has avoided direct criticism of the Russian government, which the global climate change and wildlife activist group maintains close ties with through its advocacy work and its office leadership in Moscow. It also comes as Republican lawmakers have launched a probe into potential financial ties between other U.S. environmental groups and the Russian government."

If it isn't clear by now, when they talk about targeting "emissions" they are targeting the companies that make modern life possible.

** The Hill ([link removed])
(3/11/22) op-ed: "Once a practice rooted in religious beliefs, socially responsible investing, or ESG investing in today’s lexicon, is about to become a secular practice mandated by the government. The Biden administration’s push to require all publically-traded firms to report their greenhouse gas emissions as a component of new public disclosure requirements is a step toward making ESG investing mandatory. In this new twist, the government will decide which firms deserve access to investment capital. Mandatory reporting of greenhouse gas emissions will lead to government regulations that will curtail new capital investments in companies that produce or consume fossil fuels...The plan to mandate disclosure of public companies’ greenhouse gas emissions, while veiled as an initiative to improve public disclosure, serves another policy goal of the Biden administration — restricting fossil fuel-intensive industries’ access to investment capital. The recent Financial Stability Oversight
Council report found that climate change poses a systemic risk to the financial sector. Such a declaration empowers financial regulators to use Dodd-Frank Act powers to identify and mitigate systemic threats to the financial system."

Score one for the good guys.

** Fox News ([link removed])
(3/15/22) reports: "Sarah Bloom Raskin, President Biden's embattled pick for the Federal Reserve's top banking regulator, withdrew her nomination on Tuesday, according to a source familiar with the matter, after Republicans and one key Democrat opposed her nomination. Her withdrawal comes one day after Sen. Joe Manchin, a Democrat who often serves as a vital swing vote in the 50-50 Senate, said that he could not support her nomination, citing her stance on energy in the era of sky-high inflation...In a letter to Biden obtained by the New Yorker, Raskin blamed 'relentless attacks by special interests' who opposed her view that climate change could pose a threat to economic stability for derailing her nomination...Biden echoed that sentiment in a statement following her withdrawal, accusing GOP lawmakers as well as the oil and gas industry of lobbing 'baseless attacks' at Raskin. 'Unfortunately, Senate Republicans are more focused on amplifying these false claims and protecting special
interests than taking important steps toward addressing inflation and lowering costs for the American people,' Biden said in a statement. He urged the Senate Banking Committee to move ahead with confirming the four other Fed picks, including the renomination of Jerome Powell as chair."

Energy Markets


WTI Crude Oil: ↑ $97.90
Natural Gas: ↑ $4.70
Gasoline: ↓ $4.30

Diesel: ↓ $5.10
Heating Oil: ↑ $312.20
Brent Crude Oil: ↑ $100.88
** US Rig Count ([link removed])
: ↑ 762



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