Your Daily Energy News
View this email in your browser ([link removed])
DAILY ENERGY NEWS | 05/12/2022
Subscribe Now ([link removed])
** The Biden Administration divined there was no interest in producing more oil, so they cancelled the lease just to be sure.
------------------------------------------------------------
The Hill ([link removed]) (5/11/22) reports: "The Interior Department will not move forward with planned oil and gas lease sales in the Gulf of Mexico and Alaska’s Cook Inlet, it announced Wednesday night. A spokesperson for the department confirmed the Cook Inlet lease sale would not proceed due to insufficient industry interest. Meanwhile, the planned sale of two leases, lease 259 and lease 261, in the Gulf of Mexico will not proceed due to contradictory court rulings on the leases, the spokesperson confirmed. Shortly after taking office, President Biden signed an executive order freezing all new oil and gas leasing on federal lands. Last summer, Judge James Cain, a Trump appointee, struck down the ruling, prompting the Biden administration to appeal. Meanwhile, in January, the Washington, D.C., District Court invalidated another Gulf of Mexico lease sold by the federal
government, lease 257. The administration is not appealing the January ruling, although it affects a separate lease from the ones named by the Interior spokesperson. The Alaska lease would have covered more than 1 million acres."
[link removed]
** “This diabolically destructive plan uses the ambiguous language of the poorly drafted Dodd-Frank Act to hijack financial regulatory powers to disrupt nonfinancial companies that are disfavored by the current administration as a means to implement a new national industrial policy. The plan is an abuse of Executive Branch power that usurps powers vested in the duly elected representatives in Congress.”
------------------------------------------------------------
– Paul H. Kupiec, AIER ([link removed])
============================================================
They're so clean leftists won't let you use them!
** Real Clear Energy ([link removed])
(5/11/22) op-ed: "Everything in this world is either grown or mined, and if we don’t grow it or mine it in America, we import it. Events from the past few years, namely the COVID-19 pandemic and the Russian invasion of Ukraine, have highlighted America’s hunger for metals, including copper, nickel, cobalt, platinum-group elements, and more. Therefore, Congress needs to boost domestic production. Instead, the majority is putting up more arbitrary hurdles, like the so-called Clean Energy Minerals Reform Act. Don’t let the name fool you. This legislation, introduced by Chairman Grijalva (D-AZ) and being considered before the House Natural Resources Subcommittee on Energy and Mineral Resources this week, will make it even harder to access clean energy minerals domestically while furthering our reliance on Russia, China, and the Congo. The bill contains several provisions that contribute to longtime goals of the Left: dissuade investment in mining and choke projects to death with an
unpredictable permitting process. Talk to any miner, member of the building trades, or industry expert and you’ll hear the same frustration about mining in America: permitting timelines are too long, too uncertain, and incentivize lawsuits and trial lawyers...So, how does the Grijalva bill address our permitting timelines? By adding two more duplicative permit requirements. Adding these permits wouldn’t add just months or years, they could add decades to review."
BlackRock starts to have second thoughts on the inflation-causing climate policies they have been promoting. They should apologize, but stepping back and asking, "Are we the baddies" is an important first step.
** CNBC ([link removed])
(5/11/22) reports: "BlackRock, the largest asset manager in the world, said it will likely vote to support fewer climate proposals from companies in its investment portfolio in 2022 than it did in 2021 because those climate proposals coming up for a vote this year are more exacting and demanding than in previous years. On Tuesday, BlackRock’s Investment Stewardship team published a preview of how it’s going to vote in the current season of company shareholding meetings. Blackrock’s Investment Stewardship (BIS) is a team of financial professionals that liaises between corporate governance of the companies it invests in for the benefit of its clients. In 2021, BlackRock voted in favor of 47% of environmental and social shareholder proposals (81 of 172), the BIS said in its note. In the current season, BlackRock is 'likely to support proportionately fewer this proxy season than in 2021, as we do not consider them to be consistent with our clients’ long-term financial interests,' the BIS note
says."
** ([link removed])
Europe is getting a major reality check. Ideally, our policy makers will catch on before we "catch up."
** Mises Wire ([link removed])
(5/9/22) column: "Eighty-five percent of human energy usage comes from burning things. Either plants or trees grown in a geologically recent past or plants or trees (and decomposed animals) from ancient times. Solar, wind, hydro, geothermal, etc.—all the things that occupy a climate-conscious citizen, activist, or politician’s dreams—are frizzles around the edges. Human civilization is powered by combustion; human beings are a fossil fuel–burning civilization. You can take away the civilization part, which seems to be the end goal for some environmentalists, but bar that, you can’t take away the fossil fuel part. If we listened only to our energy overlords’ preaching, we would get a very different impression of what the world is like. Wind turbines powering all those electrified vehicles on our roads, solar panels and batteries of immense capacities light and heat our homes. Dirty oil and polluting coal are out; green, clean, and smart machines on the way in. Nothing could be further from
the truth. Renewables don’t power our societies, they’re not about to any time soon, and the fact that they’re not isn’t a policy choice—or 'greedy capitalism' preventing this utopian (dystopian) vision."
Energy Markets
WTI Crude Oil: ↓ $105.56
Natural Gas: ↓ $7.45
Gasoline: ↑ $4.41
Diesel: ↑ $5.55
Heating Oil: ↓ $384.12
Brent Crude Oil: ↓ $106.78
** US Rig Count ([link removed])
: ↑ 790
** Donate ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Connect with us on Facebook ([link removed])
** Connect with us on Facebook ([link removed])
** Follow us on Twitter ([link removed])
** Follow us on Twitter ([link removed])
** Forward to a Friend ([link removed])
** Forward to a Friend ([link removed])
Our mailing address is:
** 1155 15th Street NW ([link removed])
** Suite 900 ([link removed])
** Washington, DC xxxxxx ([link removed])
Want to change how you receive these emails?
** update your preferences ([link removed])
** unsubscribe from this list ([link removed])
