Biden's bribe

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DAILY ENERGY NEWS | 08/26/2022

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What do the latest primary results mean for the midterms and how many have to perish for the world's best tomato? Also, Tom and Mike welcome Liz Bowman from AXPC to the AEA studios. Listen to the latest episode of The Unregulated Podcast, now streaming on our website, or wherever you listen to podcasts.

"Whether it’s called the Green Deal or whatever, I’m afraid. However, I won’t be here anymore when we find out where the green madness will take us."

– Miloš Zeman,
President of the Czech Republic

Can't get enough Tom? Check out his recent guest spot on the Prosperity 101 Breakroom Economics Podcast.

Whatever it's going to do, the Manchin bill is not about to reduce America's electric bill.

Inside Sources (8/25/22) reports: "Most Americans know the “Inflation Reduction Act” President Joe Biden signed on Tuesday will have little impact on inflation. CBS News ran the headline, 'One thing the Inflation Reduction Act may not do: Lower inflation' even before the bill had been signed. And a recent Morning Consult poll found just 15 percent of independent voters believe the legislation will live up to its name. Which may explain Democrats have suddenly shifted their language about the legislation to a “climate” bill, touting savings on energy costs it will bring American consumers. But will this new measure, with its $739 billion price tag, actually lower the cost of electricity, heating oil, or gas?...In other words, there are no savings until ratepayers do some spending. 'The line of thinking is to subsidize supply, specifically for low-carbon and zero-carbon energy sources,' said Nick Loris of the Conservative Coalition for Climate Solutions (C3 Solutions). 'All else being equal, increased supply will lower prices. But for that to happen, the energy sector needs the ability to build the necessary infrastructure in a timely fashion.' Without the necessary regulatory modernizations, Loris says policymakers are failing to address the systemic problem that has frustrated investors and energy producers across the board...However, if they spend part of that money buying new energy-efficient washing machines or heat pumps, won’t that reduce demand and, over time, lower prices? Not according to Kenny Stein, policy director for the Institute for Energy Research, a free-market think tank. 'For the heat pump or appliance example, the alleged cost savings are based on modeling that says renewables make electricity cheaper, therefore a new heat pump will save money,' Stein says. 'But if renewables increase electricity prices (which they tend to do), then the modeled savings vanish.' Why would renewables increase electric rates? Because moving large numbers of businesses and households from heating oil or natural gas to electricity (not to mention electric vehicles) means a massive increase in demand."

Coming soon to a city near you. Thanks to the Greens...

Daily Caller (8/24/22) reports: "Protests continued through Tuesday after Pakistanis received inflated energy bills even though power supply from several plants in the country had stalled, ANI News reported. Demonstrators gathered across the Punjab region to object to an unexpected spike in fuel cost adjustment (FCA) electricity consumption taxes, according to ANI News, burning their bills and resolving not to pay them, Pakistan-based newspaper Dawn reported. Pakistani Prime Minister Shehbaz Sharif announced Tuesday the government would waive FCA charges for 17 million consumers Tuesday after consulting with the International Monetary Fund (IMF), Dawn reported. 'My actual electricity bill, the cost of the units consumed, is PKR 2,000, but the overall bill goes up to over PKR 6,500, including FCA and other taxes. I am a day laborer and don’t have enough money to pay the huge bill,' Izhar Ali, one of the protesters, told ANI News. Farmers blocked roads and chanted opposition slogans to the federal government and Faisalabad Electric Supply Company (Fesco) over increased energy prices last week, Dawn reported. Federal energy authorities allowed power plants to charge an additional PKR 115 billion on top of regular charges to compensate for the increased production costs in June, as well as increasing base tariffs across the country."

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: ↓ $91.42
Natural Gas: ↑ $9.51
Gasoline: ↓ $3.86

Diesel: ↑ $5.01
Heating Oil: ↑ $399.55
Brent Crude Oil: ↓ $98.52
US Rig Count: ↑ 847

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