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DAILY ENERGY NEWS | 06/09/2022
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** When will Biden ease sanctions on oil and gas production on public lands? Does he really want to keep his approval rating at 37% percent?
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Bloomberg ([link removed]) (6/8/22) reports: "Italian oil giant Eni Spa and Spanish refiner Repsol SA are poised to import Venezuelan crude for the first time in two years after the US eased sanctions on the South American country. Eni booked two ships provisionally to load oil in Venezuela during June, according to people with knowledge of the situation. The vessels should load a combined 1 million barrels of diluted crude oil, known as DCO, from fields in the Faja region. Together, Eni and Repsol can lift as much as 2 million barrels for now, a person said. The move comes as the US seeks to alleviate a supply crunch following an EU embargo on most Russian crude shipments. Eni and Repsol SA, which co-own the Cardon IV natural gas development in Venezuela, will be able
to import crude from Petroleos de Venezuela SA to offset 2022’s gas sales from Cardon IV, other people said. The swap agreement was laid out in a comfort-type letter sent by the US Treasury Department to the European companies at the end of May."
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** "The Biden administration, with the help of Democrat majorities in both houses of Congress, is hell-bent on enriching their friends as they impoverish low- and middle-income Americans. Will you put up with it?"
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– Levi Russell, University of Kansas ([link removed])
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Never forget:
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Here’s a reminder that the NRC charges a lot of money to review applications and no new reactors have been built for years. One more example of how no one hates nuclear more than the NRC.
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This investor group has cornered the market on coffins in the developing world and wants the UN to help reduce the global food supply.
** Reuters ([link removed])
(6/8/22) reports: "Investors managing $14 trillion have urged the United Nations to create a global plan to make the agriculture sector sustainable and curb one of the biggest sources of climate-damaging emissions, a letter seen by Reuters showed. Food production accounts for around a third of global greenhouse gas emissions and is the main threat to 86% of the world's species at risk of extinction, the group said, while cattle ranching is responsible for three quarters of Amazon rain forest loss. Climate scientists warned in April that the world's goal of limiting global warming to 1.5 degrees Celsius (2.7°F) above the pre-industrial average by mid-century could not be met without marked changes in land use. Despite this, a FAIRR Initiative study last year showed the emission reduction plans of most of the G20 nations had no target to reduce agricultural emissions. Writing to the director general of the U.N.'s Food and Agriculture Organization, Qu Dongyu, the letter, coordinated by the
investor network FAIRR, said the agency was best-placed to take the lead on creating a road-map to ensure better planning."
Energy Markets
WTI Crude Oil: ↓ $121.26
Natural Gas: ↓ $8.09
Gasoline: ↑ $4.97
Diesel: ↑ $5.74
Heating Oil: ↑ $441.49
Brent Crude Oil: ↓ $123.04
** US Rig Count ([link removed])
: ↑ 813
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