A chilly dinner at the French Laundry

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DAILY ENERGY NEWS | 09/07/2022

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Dear California, I'm sorry but you voted for this guy--a guy that tells you to keep your A/C set to 78 but it's cool enough where he is that he has to wear a sweater.

Don't forget, this is what the regime is envisioning for every state.

Daily Caller (9/6/22) reports: "California residents are at risk of experiencing blackouts on Tuesday, just four days after President Joe Biden’s Energy Secretary Jennifer Granholm praised the state’s green energy policies. Granholm touted California’s green energy transition in an interview on Saturday, Sept. 3, only four days before California’s electrical grid operator, California Independent Systems Operator (CAISO), issued a level 2 energy emergency alert, warning customers to be prepared for “power outages.” Granholm said that California was leading the nation in green energy development and praised its ability to shape national energy policy, according to an interview conducted by Fox 11 Los Angeles. 'I love the fact that California is unabashedly bold about (green) energy policy,' Granholm stated, calling the state as a green 'leader' for the rest of the country. 'California’s boldness has … shaped our willingness in the federal government to move further and faster,' she said of California’s green energy policies. CAISO issued the emergency alert as California’s grid may struggle to cope with record-high levels of energy demand spurred by California’s current heat wave and urged residents to curb power usage during the late afternoon and evening, according to a press release. The operator is likely to declare a level 3 energy emergency around 5:30 pm PT, one step away from ordering rotating power outages."

"It’s time to rally, California! We all need to do our part to help avoid power outages this week. Before 4pm, pre-cool your home. After 4pm, avoid use of major appliances and turn your thermostat to 78 or higher. Let’s keep the lights on, California."

– R ep. Eric Swalwell (D-CA)

Pop quiz: Which country generates a greater percentage of its electricity from coal? Germany or the US? (Answer: Germany 29% vs. 20% in the US).

Bloomberg (9/6/22) column: "Since the European energy crisis started last year, when Russia first reduced the flow of gas to the continent, the market has done the job of rationing demand via increasingly eye-watering prices. Energy-intensive industries have curbed output and, in some cases, closed plants for good. Households, facing sky-high utility bills, have also cut their consumption. Painful as it has been – and continues to be – free markets have worked as they are supposed to: by curtailing energy use to balance scarce supply. Now European leaders are moving to end market-driven energy economics, capping the price households and some businesses pay for their electricity and gas in an effort to stem spiraling costs. They’ll have to set about the dirty job of rationing demand – and that’s a messy business...Germany has confirmed plans to close all its nuclear power stations at the end of the year, though it will keep two of the three remaining plants in reserve until April 2023 for emergencies. The shutdown means the country's dependence on coal is set to increase further."

Climate change? More like a load of...

This Administration makes the Corleone family look like a bunch of pikers.

Wall Street Journal (9/6/22) column: "Depending on short-term political desires, President Joe Biden and his energy team are happy to encourage oil production, especially by foreign despots. But for the long term, the Biden administration seeks to wean the U.S. economy off fossil fuels. This will not be an easy ride for U.S. consumers or taxpayers. By at least one significant metric, the president’s effort to discourage oil production is historic...Along with limiting oil supply, Team Biden is also cheering efforts to restrict demand. Thomas Catenacci reports for the Fox Business Network: 'Energy Secretary Jennifer Granholm says she backs regulations California’s state government approved in August banning the sale of new gas-powered cars after 2034.' The administration is pushing out subsidies to electrify commercial vehicles as well. But sometimes environmental belief is not enough to create a smooth ride...Consumers may or may not end up appreciating electrified bus service, but politicians and media folk have been enthusiasts for years. In June of 2017, Russ Mitchell reported in the Los Angeles Times: 'The market for battery-powered electric buses seems ready to rocket. Orders in the U.S. are gaining traction. Last week, Proterra said it had raised $55 million in investment capital atop $290 million raised earlier. The new money comes from Al Gore’s investment fund and BMW’s venture capital arm. GM Ventures and Kleiner Perkins Caufield & Byers had already chipped in.' The company may ring a bell with readers given all the attention it’s received from politicians. CNN’s Kristen Holmes reported in May of 2021: 'President Joe Biden and Vice President Kamala Harris’ efforts to sell their green agenda and infrastructure plan are being complicated by a thorny conflict of interest for Energy Secretary Jennifer Granholm – who stands to gain a windfall from stock options in a private electric vehicle company. Last month, Biden took a virtual tour of Proterra, a company Granholm holds millions of dollars in vested stock options in and previously sat on the board of. During the tour Biden praised employees and the CEO for their work in the electric vehicle space...Despite the hundreds of electric vehicle-related companies in the United States, Harris also toured a partner of Proterra, and the Proterra’s CEO Jack Allen later took part in a session at the administration’s US Climate summit.'"

Energy Markets

WTI Crude Oil: ↓ $84.41
Natural Gas: ↓ $8.02
Gasoline: ↓ $3.76

Diesel: ↓ $5.05
Heating Oil: ↑ $359.01
Brent Crude Oil: ↓ $90.43
US Rig Count: ↓ 838

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