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DAILY ENERGY NEWS | 05/10/2022
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** The White House is gambling away America's future with all the prowess of Clark Griswold.
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Real Clear Energy ([link removed]) (5/8/22) op-ed: "The Biden Administration just tripled down on a losing bet to lower gasoline prices for Americans by announcing a record release from the Strategic Petroleum Reserve, as if it were a brag-worthy achievement. At the same time, the Administration continues to gaslight Americans by talking about a “Putin price hike” as if we’d all forget that the first SPR release came in November, well before Ukraine was on anyone’s radar. By then, prices were up by more than a dollar from the day President Biden took office and declared in no uncertain terms his hostility toward the American oil and gas industry. Make no mistake, those actions and the introduction of other regulatory hurdles and attempts to restrict capital investment into oil and gas drove negative sentiments, which in turn slowed the response to increasing
demand – intentionally. Does the White House really think Americans will forget that? While the release of a million barrels a day is substantial, history has shown that global crude prices trade lower on the release, providing short-term relief, before both continue to trend higher. This is the reality President Biden will eventually have to contend with, and which Americans are feeling every day in the form of inflation and high gas prices."
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** "The stuff we get from China—from antibiotics and smartphones to minerals and metals needed for green technology—is much more important than almost anything we get from Russia. The Biden administration wants to commit the U.S. to a green agenda, but 80% of the rare-earth minerals needed for that technology are processed by China."
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– Steve Milloy, Energy and Environmental Legal Institute ([link removed])

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This is shocking to no one paying attention.

** Rasmussen Reports ([link removed])
(5/9/22) reports: "A majority of voters are concerned about rising energy costs and favor increased drilling for oil and gas, although most Democratic voters consider reducing climate change a higher priority. A new national telephone and online survey by Rasmussen Reports and the Heartland Institute finds that 82% of Likely U.S. Voters are concerned about rising energy and gasoline prices, including 60% who are Very Concerned. Only 14% aren’t concerned about the rising price of energy. Sixty percent (60%) favor a law that would dramatically increase oil and gas drilling in the United States, including 47% who would Strongly Favor such a law. Thirty percent (30%) would oppose a law to increase drilling, while 11% are not sure Fifty-two percent (52%) of voters believe Congress and President Joe Biden should focus more on increasing oil and gas drilling to help reduce energy prices, but 34% think the policy focus should be more on limiting carbon dioxide emissions in an attempt to reduce
climate change...'When push comes to shove, polls consistently show energy and economic security trump climate change for a majority of the public when asked which is more important,' said H. Sterling Burnett, director of Arthur B. Robinson Center on Climate and Environmental Policy at the Heartland Institute. 'Oil and gas remain, for the foreseeable future, vital to maintaining our present standard of living and lifestyles and to ensure continued economic and national security. This Heartland/Rasmussen poll indicates the public understands that fundamental fact.'"

🎶 Six days on the road and I'm gonna make it home tonight. 🎶

That is, if there's any diesel...

** ([link removed])

This should be the easiest election cycle for Republicans in history, so long as they don't mess it up by pushing energy taxes.

** The Washington Times ([link removed])
(5/9/22) column: "So the average price of gas is $5.92 per gallon in Sonoma, California, as of Monday according to GasBuddy.com, a nimble and helpful industry source. The Golden State, in fact, is home to the most expensive fuel in the nation, with gas going for an average of $5.80 a gallon. Georgia boasts the lowest price at $3.85. The trends are not promising. 'For the third consecutive week, the nation’s average gas price has risen, climbing 13.6 cents from a week ago to $4.31 per gallon today according to GasBuddy data,” the watchdog said in an analysis released Monday. AAA agrees, citing the average at $4.32, also on Monday. Which brings us to American drivers, who likely have one hand on the wheel and the other on a credit card. Many could very well point an accusatory finger at the White House and the Democratic Party over the record-breaking gas prices."

Energy Markets


WTI Crude Oil: ↓ $103.03
Natural Gas: ↑ $7.24
Gasoline: ↑ $4.37

Diesel: ↑ $5.55
Heating Oil: ↑ $397.62
Brent Crude Oil: ↓ $105.63
** US Rig Count ([link removed])
: ↓ 784



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