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DAILY ENERGY NEWS | 04/06/2022
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** Not even the might USPS can out-negotiate reality.
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Federal News Network ([link removed]) (4/5/22) reports: "The top Democrat on the House Oversight and Reform Committee is telling the Postal Service to start over in determining how many electric vehicles it can afford to purchase as part of its 10-year next-generation delivery vehicle contract. Committee Chairwoman Carolyn Maloney (D-N.Y.) said Tuesday that USPS 'can and must increase the number of electric vehicles that it purchases.' USPS agreed to share the analysis it’s been using to determine how many electric vehicles it will purchase, but Maloney said 'it’s clear that the Post Office needs to go back to the drawing board.' Maloney is specifically directing USPS to draft a new environmental impact study and a new cost estimate for electric vehicles, as well as 'immediately renegotiate' a better price for electric vehicles...Kenny Stein, the
director for policy at the Institute for Energy Research, told the committee that the expected lower operating costs of electric vehicles over their lifetime would not make up for a higher upfront cost, except in certain locations and certain routes. 'If those assumptions have proved overly optimistic, EVs could actually end up being a long-term financial drag on the Postal Service,' Stein said.
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** "Russia’s invasion of Ukraine should teach us we can’t go back to paying our adversaries for resources we can produce here. The president needs to stop sleepwalking and wake up to the fact that our energy future needs to be made in the U.S."
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– Senator John Barrasso (WY-R) ([link removed])
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It's never too late to see the light.
** The Guardian ([link removed])
(4/5/22) reports: "Ministers have paved the way for a reconsideration of the moratorium on fracking in England by commissioning a new study to examine safety concerns about the controversial practice. In an effort to decrease Britain’s reliance on imported energy given spiralling costs, the business secretary, Kwasi Kwarteng, said it was 'absolutely right that we explore all possible domestic energy sources.' The Conservatives promised in their 2019 manifesto they would not support shale gas extraction 'unless the science shows categorically that it can be done safely.' A moratorium in England was placed on the process in November 2019 after protests, legal challenges and planning rejections. A row emerged on Tuesday night, after the Daily Telegraph reported that the Treasury had rejected a request by Kwarteng to spend millions of pounds to reduce bills by making homes more energy efficient. No 10 and Kwarteng’s officials were pushing for the Energy Company Obligation scheme to be widened
beyond people who receive state benefits."
This guy...
** Wall Street Journal ([link removed])
(4/5/22) editorial: "House Democrats must have political amnesia—or hope Americans do. On Wednesday they’re holding another political struggle session to lash oil and gas CEOs for surging gasoline prices. But only last autumn they were demanding that these same companies produce less oil to reduce the global supply of crude. During the Oct. 28 hearing, California Rep. Ro Khanna praised BP and Shell CEOs for pledging to reduce their oil production. Then he asked U.S. oil execs why they weren’t doing the same. 'Are you embarrassed as an American company that your production is going up while the European counterparts are going down?' he asked Chevron CEO Michael Wirth. Mr. Wirth tried to explain that new supply was needed to meet rising global demand, but the Silicon Valley Congressman persisted...Mr. Wirth replied: 'With all due respect, I’m very proud of our company and what we do.'...Now they blame oil companies and Vladimir Putin for high gasoline prices, but their policies empower
Vladimir Putin by keeping global oil prices higher than they should be."
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Even the lamestream is catching on.
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Energy Markets
WTI Crude Oil: ↓ $101.50
Natural Gas: ↑ $6.28
Gasoline: ↓ $4.16
Diesel: ↓ $5.07
Heating Oil: ↑ $347.33
Brent Crude Oil: ↓ $106.17
** US Rig Count ([link removed])
: ↓ 756
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