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DAILY ENERGY NEWS | 4/26/2022 |
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** Except for that part of being realistic, "net zero" (the latest name change) has been a smashing success so far...
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Gatestone Institute ([link removed]) ([link removed]) (4/25/22) blog: "When President Biden and other advocates of wind and solar generation speak, they appear to believe that the challenge posed is just a matter of currently having too much fossil fuel generation and not enough wind and solar; and therefore, accomplishing the transition to "net zero" will be a simple matter of building sufficient wind and solar facilities and having those facilities replace the current ones that use the fossil fuels. They are completely wrong about that. The proposed transition to "net zero" via wind and solar power is not only not easy, but is a total fantasy. It likely cannot occur at all without dramatically undermining our economy, lifestyle and security, and it certainly cannot occur at anything remotely approaching reasonable cost. At some point, the ongoing forced transition... will
crash and burn. [I]t doesn't matter whether you build a million wind turbines and solar panels, or a billion, or a trillion. On a calm night, they will still produce nothing, and will require full back-up from some other source."

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** "Thanks to President Biden's Bipartisan Infrastructure Law, America is investing $62 billion through the Department of Energy to lay the foundation for a clean energy economy. With the rest of the President's agenda to Build a Better America, we’ll finally get on a path to 100% clean power by 2035 and net zero emissions by 2050—while increasing American clean energy independence and creating millions of good-paying jobs.”
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J ([link removed]) ennifer Granholm Secretary of Energy ([link removed])

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We're waiting for Leo to star in the sequel...

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Utah gives ESG a pow, right in the kisser.


** WSJ ([link removed])
(4/25/22) reports: "Even advocates of ESG accept that there is no agreed-upon standard for ESG reporting and that various ESG sub-components are inherently incommensurable. How, for example, should environmental goals be prioritized over social ones, or governmental goals over environmental ones? This is to say nothing of what factors may populate the social realm...Nevertheless, S&P has pressed ahead and in the process generated some truly baffling results. For example, S&P gave Russian-controlled energy producers higher ESG ratings than similar entities in the U.S. Russian energy giants Gazprom and Rosneft outscored American energy companies ExxonMobil and Chevron on S&P’s ESG scale. This despite the fact that Vladimir Putin’s Russian government is the majority owner of Gazprom and owns a 40% stake in Rosneft—the same government that recently invaded neighboring Ukraine in an unprovoked and unjustifiable attack, in violation of international law. That attack appears to be degenerating
into a total war on all Ukrainians, including noncombatant civilians, in violation of the Geneva Conventions, and has resulted in thousands of civilian casualties and over 10 million displaced persons to date. While S&P recently removed all Russian company scores from their website, it is inconceivable how these energy giants, controlled by a corrupt and reckless regime—and having been sanctioned for that regime’s misadventures before—managed to cobble together ESG scores up until a few weeks ago that exceeded those of law-abiding American companies critical to U.S. energy security."
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In other religions, contributions are not made by taxpayers.

** The Hill ([link removed])
(4/23/22) reports: "More than 40 companies, including consumer brands such as Airbnb Inc., Lyft Inc., Sierra Nevada Brewing Co. and IKEA, are calling on Congress to adopt federal energy legislation to provide additional financial incentives for clean-energy projects such as wind turbine farms and solar installations. In a letter to lawmakers Tuesday, the companies said that federal spending for such projects would help reduce energy costs for U.S. businesses, along with their employees and customers. They called for federal tax credits for developers and suppliers of major wind, solar, nuclear and energy-storage projects, as well as for electric vehicles and charging-station tax credits, which could benefit company-run fleets. Reducing energy costs for businesses by switching to clean power would free up money “to invest into innovation, manufacturing, and employment,” said the letter, which was viewed by The Wall Street Journal."

Energy Markets


WTI Crude Oil: ↑ $99.18
Natural Gas: ↑ $6.92
Gasoline: ↑ $4.13

Diesel: ↑ $5.08
Heating Oil: ↑ $421.12
Brent Crude Oil: ↑ $103.09
** US Rig Count ([link removed])
: - 778



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