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DAILY ENERGY NEWS | 04/04/2022

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The people artificially driving up energy prices have names. The voters are gonna find out who they are.

Fox Business (4/2/22) reports: "Two American energy groups are targeting the Biden administration over its dismissal of domestic oil and gas production, one with a five figure ad purchase and another whose president will offer testimony before a Senate committee next week. The American Energy Alliance launched a five figure ad campaign against President Biden and his administration for 'sending mixed signals' when it comes to energy production in America. The ad – titled 'Which is it?' – features remarks from Biden, Energy Secretary Jennifer Granholm, and U.S. special presidential envoy for climate John Kerry when they dismissed oil production in the United States and compares those statements to more recent remarks they have made regarding the importance of increasing oil supply. The ad will be televised in Washington, D.C., and 12 states – Arizona, California, Massachusetts, Maryland, Michigan, Nevada, New Jersey, New York, Oregon, Pennsylvania, Texas, and Washington – as Americans continue to feel the pain at the pump. In a statement released this week, Thomas Pyle, president of the American Energy Alliance, claimed the Biden administration has 'done everything it possibly can to strangle domestic energy production,' saying Biden's plan to release a million barrels of oil per day for the next six months from the U.S. Strategic Petroleum reserve is not a 'sustainable plan to reduce prices.' Pyle also gave similar comments during a recent interview with FOX Business. 'In spite of their rhetoric, the Biden Administration is doing absolutely nothing to encourage the production of American natural gas and oil. In fact, they are making it more difficult,' Pyle said at the time. 'The pain at the pump is real and this Administration is making it worse, not better.'"

"Any action on Keystone wouldn’t actually increase supply, and it would transmit oil years in the future ... What we’re focused on right now is what we can do right now, and ... there are wells that are shut in and that can be brought back online over the course of the next couple months. What we need right now is to address the immediate supply disruption."

– Brian Deese,
Current Biden bureaucrat and former Larry Fink lackey

An entire continent set to needlessly self-destruct to appease delinquent teenagers.

Reuters (4/2/22) reports: "French power grid operator RTE warned on Saturday of a potential "tense" situation between the supply and demand of electricity in the country in the wake of the cold wave that has hit Europe. RTE issued a statement asking French companies and local authorities to reduce their energy consumption in particular between 7 a.m. (0500 GMT) and 10 a.m. on Monday. It also asked households to push up the use of their appliances on Saturday and Sunday. RTE said that the electricity consumption may reach 73,000 megawatt (MW) on Monday morning, while the production of electricity may reach 65,000 MW. France may import up to 11,000 MW as a result, RTE said. The grid operator doesn't expect any power cut and will update its forecast on Sunday, it said. In February the company said it was necessary to maintain a heightened level of vigilance in case of a cold wave lasting several consecutive days, low wind production or a sharp decline in nuclear availability."

Mark Kelly finally breaks his vow of silence. Must be facing the voters in a mere seven months.

E&E News (4/1/22) reports: "Democratic Sens. Joe Manchin of West Virginia and Mark Kelly of Arizona are urging the Biden administration to develop a new five-year oil and gas leasing plan in the Gulf of Mexico. In a letter yesterday to President Joe Biden, the lawmakers argued that a new schedule for the sale of federal oil and gas drilling rights in the Gulf would help ease high energy prices. 'Increasing domestic oil production to meet demand is a critical step to lowering gas prices and reducing our reliance on foreign sources,' Manchin and Kelly wrote...Manchin and Kelly’s letter echoes recent critiques from GOP lawmakers that the Biden administration is slow walking the national leasing program, while also pushing the oil and gas industry to drill more to combat high prices. New leasing, or leasing plans, would not have an immediate impact on the global oil supply or the current price hike, experts agree. But industry has warned that a lapse in the offshore oil and gas plan may be unprecedented and have long-term consequences for production and federal revenue."

I bet the European leaders and technocrats who created this mess and gave Putin control of your energy aren't going to suck it up and take shorter showers.

Mine, baby, mine...

Wall Street Journal (4/3/22) editorial: "The contradictions of White House energy policy keep piling up. In the latest example, President Biden on Thursday invoked the Defense Production Act to subsidize the mining of certain minerals in the U.S. that his own Administration is using regulation to block. Weird, right? As Mr. Biden notes, government climate policies are driving up demand for critical minerals. An electric car includes huge amounts of graphite (66.3 kg), copper (53.2), nickel (39.9), manganese (24.5), cobalt (13.3) and lithium (8.9). Conventional cars require far less—22.3 kg of copper and 11.2 of manganese. Solar and wind also require more of such minerals than do fossil-fuel plants. That hasn’t stopped the Biden Administration from blocking a proposed copper mine in Minnesota and taking steps to slow another in Arizona. Regulators in February suspended a right-of-way for a road in Alaska, granted by the Trump Administration, that provided access to one of the world’s largest mineral deposits including zinc and copper."

Energy Markets

WTI Crude Oil: ↑ $103.20
Natural Gas: ↑ $5.76
Gasoline: ↑ $4.18

Diesel: ↓ $5.09
Heating Oil: ↑ $359.86
Brent Crude Oil: ↑ $107.92
US Rig Count: ↓ 759

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