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DAILY ENERGY NEWS | 05/27/2022
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** Tom and Mike discuss the dizzying display of arrogance in Davos. And much more on episode #85 of The Unregulated Podcast. Now streaming on our website ([link removed]) , or wherever you listen.
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** "When parties of the right try to out-tax and out-spend the left, voters will trust parties of the left to spend with more conviction."
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– Wall Street Journal Editorial Board ([link removed])

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The IEA was created to improve energy security. The IEA is now actively working against energy security. Why does the U.S. fund the IEA? Wait, I think I answered my own question.

** Wall Street Journal ([link removed])
(5/25/22) reports: "The worst energy crisis in a half-century is disrupting the West’s transition to cleaner sources of energy by providing new momentum to invest in fossil fuels, business and government leaders said at this week’s World Economic Forum. Europe’s scramble to wean itself off Russian energy following the country’s attack on Ukraine will lead to new short-term investments in coal, oil and natural gas, energy and government officials said. But some leaders at Davos warned that the crisis may also give producers an opening to invest in the kind of longer-term fossil fuel projects that Western governments have been discouraging, as countries seek to reduce the greenhouse gas emissions linked to climate change. That, they cautioned, could make it harder to reach the goals of the international Paris Agreement, which seeks to keep global temperature rises below 2 degrees Celsius from preindustrial levels, to avoid the worst impacts of global warming."

Shot:

** Bloomberg ([link removed])
(5/26/22) reports: "The UK hasn’t used coal in its power system for about three weeks, the longest run since mid-2020 when pandemic restrictions sapped demand for electricity. Coal has slowly faded from Britain’s power grid ahead of a complete phaseout set for 2024, but the polluting fuel has become more important in recent months after natural gas prices surged to record levels. Britain last used coal-fed power on May 5, according to data from National Grid Plc. In May 2021, coal accounted for just 1% of the country’s electricity, down from 21% five years earlier. Most of the UK’s coal fleet has been gradually shut down. The remaining plants aren’t profitable to run because the cost of British gas has fallen compared with its continental European equivalent, giving an advantage to gas-fired plants, according to Glenn Rickson, head of European power analysis at S&P Global Commodity Insights. British coal will be 'out of the money until July,' he added. The UK’s longest coal-free
streak lasted almost 67 days, ending in June 2020."

Chaser:

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We put this in the Bright Bulb earlier this week, but we are adding the full presentation this time. It is a must watch...

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If you oppose a carbon tax, take a stand and ** contact us. (mailto:[email protected])

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Tom Pyle, American Energy Alliance
Myron Ebell, Competitive Enterprise Institute
Phil Kerpen, American Commitment
Andrew Quinlan, Center for Freedom and Prosperity
Tim Phillips, Americans for Prosperity
Grover Norquist, Americans for Tax Reform
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Richard Manning, Americans for Limited Government
Adam Brandon, FreedomWorks
Craig Richardson, E&E Legal
Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Annette Thompson Meeks, Freedom Foundation of Minnesota
Isaac Orr, Center of the American Experiment
David T. Stevenson & Clint Laird, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America

Energy Markets


WTI Crude Oil: ↓ $113.47
Natural Gas: ↓ $8.59
Gasoline: ↓ $4.59

Diesel: ↑ $5.54
Heating Oil: ↓ $396.51
Brent Crude Oil: ↓ $117.28
** US Rig Count ([link removed])
: ↓ 788



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