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DAILY ENERGY NEWS | 04/05/2022
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** Turns out you do, in fact, need fuel to burn.
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Reuters ([link removed]) (4/1/22) reports: " U.S. liquefied natural gas (LNG) exports rose nearly 16% last month to a record high, according to preliminary Refinitiv data, with shipments to Europe continuing to dominate. U.S. LNG is in high demand as European countries try to cut gas imports from Russia following its invasion of Ukraine while also looking to rebuild low inventories. U.S. LNG exports to all destinations were about 7.43 million tonnes (MT) last month, according to Refinitiv, up from 6.4 MT in February and topping the prior record of 7.25 MT in January. Europe was the top importer of U.S. LNG for a fourth straight month, taking about 65% of U.S. exports. About 12% of exports went to Asia, and 3% to Latin America, the data showed. About 20 vessels responsible for 20% of volumes had not signaled a destination. 'The U.S. continues to emphasize European buyers,' said Reid I'Anson, senior
commodity analyst at data provider Kpler. While U.S. LNG exports to Europe have ripped higher since November, analysts said more is needed with European gas inventories only about a quarter full, below the five-year average of about 34% for this time of year. The European Commission has proposed inventories be 80% full by Nov. 1, which could keep demand strong after the winter heating season ends. Germany in February said it would build two LNG import terminals and boost reserves to cut dependence on Russian gas."

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** "The inconvenient truth for progressives is that petrochemicals are ubiquitous and indispensable. Replacing oil and gas as an energy source poses enormous technological challenges. Replacing them as a product feedstock would be next to impossible. As much as progressives loathe fossil fuels, they can’t live without them."
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– Allysia Finley, Wall Street Journal ([link removed])

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Jimmy Carter called. He wants his sweater back.

** Financial Times ([link removed])
(4/5/22) reports: "According to new estimates, 1C-2C reduction of heating in residential and commercial buildings across Europe will reduce dependence on Russian gas by almost 10 percent. Researchers at Brussels-based economic think tank Bruegel estimate that lowering thermostats in buildings in the EU group of 27 countries could save 130 terawatt hours of energy in a year. The EU imports about 1,700 TWh of gas annually from Russia. According to the Energy & Utilities Alliance, the UK could also save more than half of the gas it supplies from Russia if households lower the 'flow temperature' level in boilers – or the level of heat flowing into radiators – to 50C. , a non-profit trade association. This change does not lower the overall temperature of a property, but does mean that it will take longer for the building to warm up. The group said this action alone would save about 19 TWh a year, or more than half of the roughly 34 TWh gas the UK imports from Russia. According to the Energy
Savings Trust, turning down heating by 1C in UK residential buildings would similarly save consumers about 10 percent on their energy bills each year."

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Why don't they just have a margarita and go kickboxing?

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Big Green, Inc. spends millions on PR. How come people still don't want this trash in their backyards?

** ABC News ([link removed])
(4/2/22) reports: "Lovell residents voted 202-30 to pass an ordinance killing a proposed 180-acre solar farm in a town meeting Saturday morning. The farm, proposed by Walden Renewables, drew the ire of residents for its potential impact on the views of the surrounding mountains, as well as threatening the rural landscape of the town according to residents. 'I built here because of the beautiful mountain view,' said Tom McLaughlin, a member of 'Our Eden Association', a group created to fight the solar farm. 'Now you're going to see 100,000 solar panels in front of the mountains, that's going to diminish the value of my property.' McLaughlin and other opponents of the farm hailed the result of the vote. 'I'm very gratified and proud of the people of level who have turned out for this,' McLaughlin said."

Energy Markets


WTI Crude Oil: ↑ $104.01
Natural Gas: ↑ $5.96
Gasoline: ↓ $4.17

Diesel: ↓ $5.08
Heating Oil: ↑ $356.02
Brent Crude Oil: ↑ $108.20
** US Rig Count ([link removed])
: ↓ 754



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