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DAILY ENERGY NEWS | 03/21/2022
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** There will never be another one like him. We will miss you, old friend.
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Wall Street Journal ([link removed]) (3/19/22) reports: "Rep. Don Young, the dean of the House of Representatives and the longest-serving Republican in history, has died. He was 88. Mr. Young died while traveling home to Alaska, his office confirmed. His wife Anne was by his side. First elected in 1973 during the Nixon administration, Mr. Young was serving his 25th term. He was well-known for bringing money to Alaska, which he first moved to in 1959, the year it became a state...In Alaska, he first worked in construction and tried commercial fishing, trapping and searching for gold, according to his office. He also taught elementary school and captained his own tug-and-barge operation to deliver products and supplies to villages along the Yukon River. He was the only licensed mariner in Congress, according to his office...The congressman was well-known for being cantankerous and hollering out
'regular order' when a vote went over the allotted time. He was also beloved by lawmakers of both parties who often commended his work for his state...Mr. Young was married to his first wife, Lu Young, for 46 years and had two daughters, Joni and Dawn. Ms. Young died on Aug. 2, 2009. He married Anne Garland Walton in 2015. House Speaker John Boehner was his best man at the wedding, held at the Capitol. It was seen as a sign that the two lawmakers had patched up their relationship. Mr. Boehner, an Ohio Republican, told Politico in 2017 that Mr. Young had once pinned him against a wall and held a 10-inch knife to his throat."
** Riverboat captain and man of the people does good. RIP Don Young.
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"The Fed should not be used to diminish the role of the energy sector or any other private sector."
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– Senator Jerry Moran, (KA-R) ([link removed])
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Nothing puts a smile on a turtle's face quite like pricing the average family out of car ownership.
** Philadelphia Inquirer ([link removed])
(3/16/22) reports: "Oh, so now gasoline has crossed $4.50 a gallon in the Philadelphia region and you suddenly want an electric vehicle? Take a number. Not only is demand way up for EVs, but automakers’ EV supplies were pinched even before supplies tightened and the Russian invasion of Ukraine began, further enhancing market volatility. And although the decision to buy an EV might feel good for many reasons, it may not make economic sense for many buyers. 'Unfortunately, making an EV purchase is not particularly easy to do right now amid inventory shortages, and price-sensitive consumers most affected by gas price hikes will likely find that making the switch is also a bit out of financial reach due to the premiums that these vehicles command,' said Jessica CaldwellAccording to Edmunds data, the average transaction price for a new EV climbed to $60,054 in February, $1,820 more than their average MSRP of $58,234. The average transaction price for all new vehicles was $45,596 in
February...That price premium is another factor that may make buying an EV a tougher choice right now and may not make straight economic sense. Consider that a person who drives 20,000 miles a year in a vehicle that gets 20 miles per gallon will pay $2,250 a year for gasoline at $2.25 a gallon. Doubling the cost means just under an extra $200 per month for fuel. And remember the underlying consideration that’s gotten EVs where they are today. 'I think people should look into them,' said Vorndran, the auto show visitor. 'It helps with air pollution, and then there’s save the turtles and all that.'"
And Treuadu had to flee the country from the first round of truckers...
** Cision ([link removed])
(3/17/22) reports: "The price of fuel has become the biggest cost concern for 64% of small businesses, according to the latest Canadian Federation of Independent Business (CFIB) Business Barometer®. CFIB is calling on the federal government to freeze the carbon tax, which is set to increase on April 1, to avoid exacerbating the situation at a time when many small businesses can't absorb any more cost increases. 'Despite the rapidly rising cost of fuel, and that only a third of small businesses have regained their pre-pandemic sales levels, the federal government seems determined to move forward with increasing the federal carbon tax,' said Corinne Pohlmann, Senior Vice-President of National Affairs at CFIB. 'Small businesses need a chance to regain their breath and pay down their debt. This is not the time to be adding any new costs to struggling small businesses.' Nearly two thirds (62%) of businesses said rising prices, such as fuel, food, or insurance, were having a significant impact on
their business, with another 27% saying the impact was moderate, in another CFIB survey. CFIB urges the federal government to announce a freeze in the carbon tax and work to immediately reduce energy costs for small business owners."
Show me "tax it!"
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Nothing helps calm inflation quite like creating more money.
** Axios ([link removed])
(3/19/22) reports: "The White House considered giving Americans gas cards to help offset high prices, but faced strong opposition from congressional committees, which questioned the plan's viability and effectiveness. Why it matters: The Biden administration is feeling political pressure from high energy costs, made worse by Western sanctions against Russia, and Democrats desperately want to offer some kind of policy response. What we're watching: The White House this week considered having the IRS send gas cards to Americans — a short-lived idea that some key House Democrats vehemently opposed. The idea came up as part of a broader package to address gas prices, which is still in its early stages, a senior Democratic aide told Axios. A House Democratic counsel on Wednesday laid out for the White House a list of reasons why gas cards would be a bad idea...The big picture: Democrats in both chambers have been brainstorming ideas on legislation to lower gas prices after they reached record
high levels last week. Other ideas being discussed include stimulus checks, using more ethanol to lower the demand for oil, and canceling oil companies' federal leases that aren't actively being used, the senior Democratic aide told Axios. Various Democrats have also already introduced bills that would suspend the federal gas tax; raise taxes on oil companies to fund means-tested assistance, or provide a federal rebate whenever gas prices get above $4 per gallon."
Energy Markets
WTI Crude Oil: ↑ $110.81
Natural Gas: ↓ $4.76
Gasoline: ↓ $4.25
Diesel: ↓ $5.04
Heating Oil: ↑ $384.48
Brent Crude Oil: ↑ $114.69
** US Rig Count ([link removed])
: ↑ 774
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