Bringing back the numbers

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DAILY ENERGY NEWS | 04/13/2022

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The return of "By the numbers" and more on this week's episode of The Unregulated Podcast. Now available on our website, or wherever you listen to podcasts.

"The most pressing risks facing U.S. companies in the foreseeable future are unlikely to be those arising from climate change or an energy transition. Rather, the factors to watch are more apt to be inflation, rising energy costs, and national security threats that the Biden administration is too focused on climate change to anticipate or deter."

– Marlo Lewis, Jr, CEI

Oops: CEO of German chemicals giant BASF, “Cheap Russian energy has been the basis of our industry’s competitiveness.”

New York Times (4/12/22) reports: "Chancellor Olaf Scholz surprised the world, and his own country, when he responded to Russia’s invasion of Ukraine with a 100-billion-euro plan to arm Germany, send weapons to Ukraine and end his nation’s deep dependence on Russian energy. It was Germany’s biggest foreign policy shift since the Cold War, what Mr. Scholz called a 'Zeitenwende' — an epochal change — that won applause for his leadership at home and abroad. But six weeks later, the applause has largely ceased. Even as images of atrocities emerge from Ukraine since the invasion by President Vladimir V. Putin of Russia, Mr. Scholz has ruled out an immediate oil and gas embargo, saying it would be too costly...As the chief executive of the German chemicals giant BASF, Michael Heinz, put it last week: 'Cheap Russian energy has been the basis of our industry’s competitiveness.' It has in fact been the basis of the German economy. Now that German businesses are facing the possibility of being asked to do without it, resistance is quietly mounting. Government ministers say they are being asked discreetly by business leaders when things will 'go back to normal' — that is, when they can return to business as usual."

What exactly were the German chuckleheads in this video chuckling about?

Slaughter nature to save it.

Newsweek (4/12/22) op-ed: "The world's biggest producer of renewable energy, the Florida-based NextEra Energy, has killed at least 150 Bald and Golden Eagles at its wind projects in eight different states since 2012. ESI Energy Inc, a wholly owned subsidiary of NextEra, pled guilty to three counts of violating the Migratory Bird Treaty Act (MBTA) last week and was sentenced to probation and $8 million in fines and restitution; it must also implement a plan to protect eagles which could cost another $27 million. The Department of Justice's enforcement of the MBTA should be welcome news to birdwatchers and citizens alike. But there's a larger lesson here: American taxpayers should not be subsidizing an industry that has shown what the DOJ calls 'blatant disregard' for federal wildlife laws. It's especially relevant right now; the prosecution of the company is coming to light at the same time that the wind industry is lobbying to extend, yet again, the federal production tax credit, which expired at the beginning of this year. The PTC, which was supposed to be a temporary subsidy, has been extended 13 times and is now the single most-expensive energy-related provision in the tax code...Killing our most iconic birds in the hope that wind turbines will slow climate change is nonsense on stilts. The prosecution of NextEra should mark a turning point in American energy policy. It's time to end our infatuation with landscape- and wildlife-destroying wind turbines. It's time to stop subsidizing the slaughter of our wildlife."

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Energy Markets

WTI Crude Oil: ↑ $101.88
Natural Gas: ↑ $6.82
Gasoline: ↑ $4.08

Diesel: ↑ $5.01
Heating Oil: ↑ $352.26
Brent Crude Oil: ↑ $106.29
US Rig Count: ↓ 758

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