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DAILY ENERGY NEWS | 08/15/2022
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** Manchin and Schumer aren't the only ones passing around walking around money to the worst green goons.
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Fox News ([link removed]) (8/15/22) reports: "Leonardo DiCaprio's non-profit foundation awarded grants to a dark money group which, in turn, funneled money to a law firm spearheading climate nuisance lawsuits nationwide, according to emails reviewed by Fox News Digital. Correspondence between Dan Emmett, a major philanthropist, and Ann Carlson — a University of California, Los Angeles (UCLA) climate professor — in 2017 revealed that the two worked with law firm Sher Edling to raise money for its efforts to sue oil companies over alleged climate change deception on behalf of state and local governments, according to the emails obtained by watchdog group Government Accountability & Oversight (GAO) and shared with Fox News Digital. In their emails, Emmett and Carlson discuss how Chuck Savitt, Sher Edling's director of strategic client relationships, had sought Emmett's support and
had already received support from Terry Tamminen in his role as the Leonardo DiCaprio Foundation's CEO, a title he held between 2016 and 2019. When the emails were exchanged, Carlson, who is now a senior Biden administration official, served as co-director of the UCLA Emmett Institute on Climate Change & the Environment, the advisory board which Emmett still chairs. 'Chuck Savitt who is heading this new organization behind the lawsuits has been seeking our support,' Emmett wrote to Carlson on July 22, 2017. 'Terry Tamminen in his new role with the DiCaprio Foundation has been a key supporter.'"
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** "Today, the American people won. Special interests lost. With the passage of the Inflation Reduction Act in the House, families will see lower prescription drug prices, lower health care costs, and lower energy costs. I look forward to signing it into law next week."
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– Joe Biden ([link removed])

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Getting back to business.

** Daily Caller ([link removed])
(8/12/22) reports: "Strive Asset Management’s anti-activist, energy exchange-traded fund (ETF) raked in over $60 million in funds in its first two days of trading, according to the company’s website. Strive’s U.S. energy index fund ($DRLL), which invests heavily in fossil fuels in an effort to combat environmentally focused investing, launched Tuesday on the New York Stock Exchange (NYSE) and was one of the exchange’s largest launches of its kind, according to a company letter to investors. Strive hopes that the early success of the fund will help 'unlock' value in the domestic energy sector by mandating firms to focus on 'profits over politics,' according to the company’s website. 'Large asset managers have mandated energy companies to produce less oil and gas which has led to a generational energy crisis' Vivek Ramaswamy, founder of Strive, told CNBC. Energy producers can halt the crisis if they are 'liberated' from ESG mandates, according to Vivek. The fund’s significant gains come amid
a recent prevalence of fiduciary efforts to enforce environmental, social and corporate governance (ESG) standards upon funds in order to stop investments in fossil fuels and reach international net-zero emissions targets. Strive aims to make $DRLL the largest energy index fund in the nation and if the company’s strategy is effective, it will be able to use its shareholder voting power to encourage companies to press forward with drilling as well as other forms of oil and gas exploration."

Cult of "the science™" just phoning it in lately.

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"Energy Poverty"...Get used to the phrase.

** Wall Street Journal ([link removed])
(8/12/22) editorial: "There are catastrophes and calamities, and then there’s what’s happening in the United Kingdom’s energy market. Reports this week point to spiraling costs for households and businesses this winter, pushing millions of Britons closer to poverty. It’s a steep price for climate alarmism. Households are likely to see the average bill for electricity and natural gas climb to £4,400 ($5,370) a year in the first half of 2023, according to a report this week from Cornwall Insight, a consulting firm. This is after the regulatory price cap shot up 54% to about £2,000 in April with another 40%-plus increase due in October and further increases after that. Britain’s median income after direct taxes is £31,400. Skyrocketing fuel prices could push 10.5 million households, or one-third, into fuel poverty next year, says the End Fuel Poverty Coalition. Fuel poverty is when energy costs drag household disposable income below the government’s official poverty line. That doesn’t include
the energy costs households pay indirectly. Businesses, whose prices aren’t capped, have seen electricity costs rise in the past year between 45% and 122% depending on company size, and gas prices between 131% and 185%. These costs inevitably will be passed on via higher prices, lower wages or lower returns to pension savers...But these trends are inseparable from Britain’s homegrown fixation with achieving net-zero CO2 emissions by 2050. That’s Prime Minister Boris Johnson’s worst mistake, which is making the energy crisis worse. Start with the direct costs, such as taxes and levies. Various green charges add £153 to the annual household bill, the industry regulator says. But other net-zero costs lurk in household energy bills and budgets."

Energy Markets


WTI Crude Oil: ↓ $87.80
Natural Gas: ↓ $8.47
Gasoline: ↓ $3.95

Diesel: ↓ $5.03
Heating Oil: ↓ $343.46
Brent Crude Oil: ↓ $93.76
** US Rig Count ([link removed])
: ↑ 847



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