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DAILY ENERGY NEWS | 08/12/2022

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Inflation aceleration, judicial improrpriety and more on this week's episode of The Unregulated Podcast. Now streaming on our website, or wherever you listen.

"If a conflict ends up severing trade between Asia and the US, billions of us will suddenly need to make do to an extent far greater than when Covid-19 disrupted supply chains. All things considered, a Pelosi delegation to Taiwan might be just what the Earth’s natural ecosystems need"

– Robert Delaney,
South China Morning Post

Blindly? No, just the media. Joe is going in eyes wide open!

Daily Caller (8/11/22) column: "If energy is life and the lack of energy is death, then Europe’s dismantling its own energy security is the equivalent of civilizational suicide. Europe is once again on the brink of lockdowns — though their goal this time around is not to 'stop the spread' of a virus. This time, European Union members, and even the UK, are imposing energy rationing schemes in an attempt to keep people from freezing to death this winter. In Germany, they’re no longer heating public pools, traffic lights are being shut off and turning off city fountains. Hungary instructed schools to look into wood-burning to keep warm. The Netherlands is urging citizens to shower less, and Spain is literally regulating people’s thermostats. The UK is not only bracing for potential blackouts, but also for eye-popping electricity rates. Power bills are set to hit $5,000 a year, which one group warned, will drive one-third of households into 'fuel poverty.' The fact is, Europe spent decades replacing fossil fuels with intermittent, unreliable renewable energy, largely from wind and solar. For years, Europe’s political elites ignored, dismissed and even mocked those who sounded the alarm on their “green” indulgences...Besides the obvious economic and geopolitical fallout, it bears reminding that despite Europe’s blunders, many on the political left still see them as model states when it comes to climate policies. Europe has long been a bellwether for where the American left is headed, whether it’s calls for socialized medicine or the Green New Deal. Indeed, the Biden administration joined Europe in committing to the laughable goal of 'net zero' emissions in the coming decades. It turns out “net zero” really just refers to what will be left in your bank account as energy prices skyrocket. While gas prices have come down, they’re still unnecessarily high thanks to President Joe Biden’s war on fossil fuels."

Redefining words isn't something new to the left. Take a behind-the-scenes look at their "Green" energy.

The Tesla grift isn't as easy as Elon makes it seem.

Wall Street Journal (8/11/22) reports: "Rivian Automotive Inc. reported its net loss in the second quarter nearly tripled to $1.7 billion, further pressuring the electric-vehicle startup to conserve cash and move quickly to fill customer orders. The California-based SUV and truck maker said revenue for the quarter was about $364 million as it increased production and deliveries of its first three models. Rivian started manufacturing vehicles for the first time late last year. The second-quarter results roughly met analysts’ expectations, with Rivian reporting an adjusted net loss of $1.62 a share. The auto maker affirmed its 2022 production guidance of building 25,000 vehicles by the year’s end, but said its operating loss is expected to grow to $5.45 billion, from its previous projection of $4.75 billion for the full year...The results come as the startup enters the second half of the year, a stretch in which Rivian is under pressure to prove it can rapidly increase its production rate and deliver vehicles to tens of thousands of waiting consumers. The company has said it produced 4,401 vehicles in the second quarter, a figure it needs to more than double in each of the final two quarters to hit its target of 25,000 for the year. While factory output is improving, Rivian said its assembly lines are designed for building a higher number of vehicles than it had been producing, resulting in labor and overhead costs weighing on its bottom line. Rivian’s ability to hit that target took on a greater sense of urgency as rising interest rates and inflation stoked fears of a potential recession."

If you oppose a carbon tax, take a stand and contact us.

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: ↓ $92.47
Natural Gas: ↓ $8.81
Gasoline: ↓ $3.97

Diesel: ↓ $5.06
Heating Oil: ↓ $353.22
Brent Crude Oil: ↓ $98.31
US Rig Count: ↑ 834

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