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DAILY ENERGY NEWS | 03/30/2022

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Why are we begging for oil from countries that round up peaceful protestors when we could be importing from the free state of Alberta?

Fox News (3/25/22) reports: "A Canadian official criticized President Biden on Friday, calling his decision to ask countries such as Iran and Venezuela for oil 'absolutely senseless.' '[Canada is] already the largest supplier of energy to the United States, closest friend and ally,' Alberta, Canada Finance Minister Sonya Savage said during an appearance on 'America’s Newsroom.' 'And yet we see them going to Venezuela, Iran, Saudi Arabia, for more energy. It’s absolutely senseless. We’re right next door.' Savage, who is also the leader of the Alberta Legislative Assembly, added that the thought of asking for oil from those countries was 'utterly ridiculous' and asserted North America and many European countries have been 'funding' Russia’s war on Ukraine through 'dysfunctional energy policy.'...Earlier this month, U.S. officials spoke with Venezuelan President Nicolas Maduro for the first bilateral talks in years earlier this month to discuss Russia and oil. U.S. diplomats have sought to find energy alternatives worldwide that could replace Russian oil and gas. "

"As climate warriors have come to understand, harnessing capitalism is a way of advancing political aims (a specific response to climate change) without the inconvenience of going through the democratic process (The SEC’s new proposals on climate-related disclosure are just the latest example of this.)"

– Andrew Stuttaford,
National Review

Actions, as always, are louder than words.

Financial Times (3/29/22) reports: "The highest US surroundings official has defended the White Home’s push for elevated oil manufacturing, saying it’s nonetheless “appropriate” with President Joe Biden’s pledge to chop greenhouse gasoline emissions and shift away from fossil fuels. 'I don’t suppose the objectives are mutually unique,' stated Michael Regan, head of the Environmental Safety Company (EPA), in an interview with the Monetary Instances forward of a visit to Europe to co-chair a gathering of OECD surroundings ministers. Clear power funding may coexist alongside higher crude manufacturing, Regan insisted. The administration remained centered on offering 'certainty' to buyers to push ahead renewable improvement, he stated. 'We are going to proceed to stroll and chew gum on the similar time.' Biden campaigned for workplace on a promise to shift the financial system away from oil as a way to restrict the emissions answerable for world warming. Nevertheless, as oil and gasoline costs have soared following Russia’s invasion of Ukraine, his administration has been pressured to alter tack."

Reality is tough, and it's tougher when you've spent the last decade in a green dream.

From the same admin that brought you retreaded cold war brinksmanship and stagflation, now comes Iran Deal 2.

Oil Price (3/28/22) reports: "The United States and Iran may be nearing a deal that could see sanctions on Iran lifted, based on reports about the U.S. Secretary of State doing a Gulf round to calm down U.S. allies there about the deal. Per the Associated Press, Anthony Blinken visited Israel and the Gulf states this weekend in a bid to quench fears of an imminent Iran deal. 'When it comes to the most important element, we see eye-to-eye,' Blinken said during a news conference with his Israeli counterpart. 'We are both committed, both determined that Iran will never acquire a nuclear weapon.' According to the U.S. Secretary of State, the best way to ensure that Iran will not become a nuclear power is to seal a deal with Tehran. 'Our commitment to the core principle of Iran never acquiring a nuclear weapon is unwavering,' the top U.S. official said. Even so, the deal is far from certain yet as sticking points remain, such as the U.S. designation of the Islamic Revolutionary Guard Corps as a terrorist group. Iran wants this removed, while Israel fiercely opposes such a move."

Energy Markets

WTI Crude Oil: ↑ $107.78
Natural Gas: ↑ $5.44
Gasoline: ↓ $4.23

Diesel: ↑ $5.12
Heating Oil: ↑ $387.63
Brent Crude Oil: ↑ $113.79
US Rig Count: ↑ 756

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