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DAILY ENERGY NEWS | 03/31/2022
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** Current events are surprising to everyone, who hasn't been paying attention for the last two decades...
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Reuters ([link removed]) (3/30/22) reports: "Germany triggered an emergency plan to manage gas supplies on Wednesday under which Europe's largest economy could ration power if a standoff over a Russian demand to pay for fuel with roubles disrupts or halts supplies. Moscow's insistence on rouble payments for the Russian gas that meets a third of Europe's annual energy needs has galvanised others in Europe: Greece called an emergency meeting of suppliers, the Dutch government said it would urge consumers to use less gas and the French energy regulator told consumers not to panic. The demand for roubles, which has been rejected by Group of Seven nations, is in retaliation for crippling Western sanctions on Russia following its invasion of Ukraine...German Economy Minister Robert Habeck implemented the 'early warning phase' of an existing gas emergency plan, where a crisis team from the
economics ministry, the regulator and the private sector will monitor imports and storage. Habeck told reporters Germany's gas supplies were guaranteed for now but urged consumers and companies to reduce consumption, saying that 'every kilowatt hour counts'. If supplies fall short, Germany's network regulator can ration gas, with industry first in line for cuts and preferential treatment for private households, hospitals and other critical institutions."
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** "There is nothing 'free market' about ESG systems, nor other similarly subjective rating systems. The ESG model is effectively collusion. It’s closer to the way mafias operate than it is to a market-based economy. Instead of responding to the desires of customers, businesses are forced to listen to the demands of a small group of banks, investors, and international institutions."
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–Justin Haskins, Heartland Institute ([link removed])

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Nobody, not even Californians, want this junk in their backyards.

** Real Clear Energy ([link removed])
(3/30/22) article: "You won’t read about this in the New York Times or the Washington Post. And you surely won’t see it reported by National Public Radio. But the rejections of big renewable projects are continuing all across the country and it appears that rejections of Big Solar projects are exceeding the Big Wind rejections. More on that in a moment. First, the wind rejections. Last month, the Bureau of Land Management rejected an application for a 144-megawatt wind project that was proposed to be built in Lake and Colusa counties, which are located northwest of Sacramento...It's notable that these rejections are occurring in California, which has some of America’s most-aggressive decarbonization policies, which include a requirement for 100% zero-carbon electricity and an economy-wide goal of carbon neutrality by 2045. But it’s not just California. Earlier this month, according to Farm and Dairy, the Ohio Power Siting Board rejected two separate applications for 'rehearing regarding the
board’s decision to deny an application filed by Republic Wind to construct a 200-megawatt wind-powered electric generating facility in Seneca and Sandusky County.'...Furthermore, if Ingram’s numbers are correct, solar rejections and restrictions may be happening more frequently than wind rejections. As I reported in January, at least 31 wind projects were rejected in 2021. If 40 Big Solar projects have been rejected since the beginning of 2021, that means that solar projects are meeting even more friction than wind projects. "

The people charged with representing the interests of New Mexico at the highest levels of government are spectacularly failing to do so.

** Eastern New Mexico News ([link removed])
(3/26/22) column: "There are many things that make New Mexico unique, but one of the most noteworthy political nuances is the state’s deep and unusual relationship with energy. New Mexico’s Democratic politicians love the money and jobs generated by the traditional energy industry, but also wish to be seen as pushing back against it to placate their environmentalist base. Nonetheless, New Mexico, a state blessed with all sorts of energy resources (both traditional as well as wind and solar) has continued to embrace Democrat politicians despite the party’s leftward shift on energy in recent years. With oil prices skyrocketing and electricity reliability in question, it is time for voters to demand sensible energy policies from politicians...Rather than focusing on alleviating the pain of high energy costs...Heinrich is pushing to replace natural gas in home heating and cooking. He remains uninterested in transitioning Western Europe away from Russian energy to New Mexico-produced natural
gas. Electrification is a fool’s errand. According to new Department of Energy data, electricity costs $41.79 per million BTU’s. Natural gas costs $12.09 per million BTU’s. And that’s in today’s numbers. Electrification would increase U.S. electricity consumption by 40 percent. Public Service Company of New Mexico was concerned about blackouts and brownouts this summer due to the shuttering of one coal fired power plant...With abundant nuclear resources, natural gas, and renewable power, New Mexico has a lot to offer the nation and the world. But first our leaders, including but by no means limited to Secretary Haaland and Heinrich, need to get serious about balancing economic and technological reality with their 'green' aspirations. "

Gee, if only there was an abundant, affordable source of energy lying around that was easy to transfer from one country to another...

** Wall Street Journal ([link removed])
(3/27/22) reports: "Russia’s invasion of Ukraine is further driving up the price of renewable-energy projects, which were already facing supply-chain strains and raw-materials increases before the war. The new pressures, which are hitting two years after the pandemic created bottlenecks for wind and solar developers, are adding to delays for completing many projects. The Biden administration and other governments around the world have called for speeding the transition to renewable-energy sources to avoid reliance on Russia for oil and gas. But project developers say it might be nearly impossible to move faster in the near term...Companies that make wind turbines for projects like Ørsted’s have been among the hardest-hit since the start of the pandemic, as the cost and complexity of moving giant blades around the globe have no easy workarounds. Their costs are set to rise again, though no critical components are sourced in Russia or Ukraine, said Deepa Venkateswaran, senior renewables
analyst at Bernstein Research."

Energy Markets


WTI Crude Oil: ↓ $103.00
Natural Gas: ↑ $5.76
Gasoline: ↑↓ $4.22

Diesel: ↓ $5.11
Heating Oil: ↓ $367.87
Brent Crude Oil: ↑ $108.11
** US Rig Count ([link removed])
: ↓ 757



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