Say it ain't so, Joe

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DAILY ENERGY NEWS | 5/02/22|

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Oil Production Falling? Say it Ain't So, Joe!

Daily Caller (5/02/22) reports: "Domestic crude oil production has sharply decreased for three consecutive months even as demand and prices have remained elevated, according to federal data released Friday. Total U.S. oil production decreased to about 11.3 million barrels per day in February, down 3.9% from the 11.8 million barrels per day produced in November, the latest Energy Information Administration (EIA) data showed. Between Nov. 1-Feb. 28, though, pump prices increased 6.4% from $3.39 per gallon to $3.61 a gallon. “I was a little bit shocked when I first saw the numbers,” Dan Kish, a senior fellow at the Institute for Energy Research, told the Daily Caller News Foundation in an interview. “It tells me that President Biden is going to have to work more like the devil in order to increase production.”

"“We shall accelerate the energy transition both for climate security and for security of supply”.”

– Deputy Prime Minister Teresa Ribera
Spain

A Deal With Diablo?

LA Times (4/29/22) reports: "With the threat of power shortages looming and the climate crisis worsening, Gov. Gavin Newsom may attempt to delay the long-planned closure of California’s largest electricity source: the Diablo Canyon nuclear plant. Newsom told the L.A. Times editorial board Thursday that the state would seek out a share of $6 billion in federal funds meant to rescue nuclear reactors facing closure, money the Biden administration announced this month. Diablo Canyon owner Pacific Gas & Electric is preparing to shutter the plant — which generated 6% of the state’s power last year — by 2025. “The requirement is by May 19 to submit an application, or you miss the opportunity to draw down any federal funds if you want to extend the life of that plant,” Newsom said. “We would be remiss not to put that on the table as an option.”

Asking the important questions--What has Murkowski's vote for Deb Haaland done for Alaska?

The Federalist (4/29/22) reports: "Alaska Sen. Lisa Murkowski was one of four Republican senators to cross party lines last year to vote for President Joe Biden’s activist pick to lead the Department of the Interior, New Mexico Rep. Deb Haaland. More than 13 months after Haaland’s confirmation, Alaskans are paying the price for Murkowski’s approval. In her press release for the confirmation, Murkowski expressed buyer’s remorse for having voted in 2013 to confirm President Barack Obama’s former Interior Secretary Sally Jewell, who shut down plans for construction of a road to serve the residents of isolated King Cove nine years ago."

Ya Don't Say!

Associated Press (4/30/22) reports: ""President Joe Biden is turning to a Cold War-era law to boost production of lithium and other minerals used to power electric vehicles, but experts say the move by itself is unlikely to ensure the robust domestic mining Biden seeks as he promotes cleaner energy sources.
Biden’s action, part of his efforts to find alternatives to fossil fuels and combat climate change, does not waive or suspend existing environmental and labor standards, the White House said. Nor does it address the chief hurdle to increased domestic extraction of so-called critical minerals: the years-long process needed to obtain a federal permit for a new mine."

The electricity might be super expensive, but at least people can know the real time CO2 emissions.

ISO Newswire (4/29/22) reports: "ISO New England has launched a new feature on the ISO Express dashboard that allows users to view estimated real-time carbon dioxide (CO2) emissions from New England’s power plants. The estimates are based on a formula that multiplies power generation, in megawatts (MW), from each fuel type by emissions factors developed by ISO New England and based on Environmental Protection Agency (EPA) data. The chart displays estimated average CO2 emissions, in metric tons, from New England power plants throughout the course of the day. The estimates are for resources using oil, refuse, wood, coal, landfill gas, or natural gas to generate electricity. The graph also shows the sum of estimated CO2 emissions from these resources as a total estimate for the region’s bulk power system. Resources that do not emit CO2, such as nuclear, hydro, wind, solar, and energy storage devices, do not appear on this chart. The graph does not include emissions estimates for electricity imported from neighboring areas because the resource types producing this electricity are unspecified."

Energy Markets

WTI Crude Oil: ↓ $102.16
Natural Gas: ↑ $7.47
Gasoline: ↑ $4.19

Diesel: ↑ $5.32
Heating Oil: ↓ $399.69
Brent Crude Oil: ↑ $104.64
US Rig Count: ↑ 793

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