Rebounding from BoJo?

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DAILY ENERGY NEWS | 09/08/2022

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BoJo started out strong as well and he burned me. You'll have to permit me to withhold praise for PM Liz for the moment...

Reuters (9/7/22) reports: "The British government is expected to announce dozens of new North Sea oil and gas exploration licences in an effort to boost domestic production, two sources familiar with the government's discussions said. The exact number of new licences was still to be confirmed, one of the sources, who spoke on condition of anonymity, said. The other said it could be as many as 130. The announcement could come as soon as Thursday. Prime Minister Liz Truss, who was appointed on Tuesday, is due to set out to parliament on Thursday her government's plans for tackling soaring energy bills. During the leadership campaign, she repeatedly said boosting domestic energy supply would be part of her focus in seeking to bring down prices. Truss's office did not comment directly on the licences but noted that the prime minister had told parliament the government would increase supply through North Sea resources and more nuclear power stations."

"Most Californians won’t freeze like the Germans or Brits this winter, but the state’s climate policies will keep costs higher, chase away business and immiserate much of the population. This is a tragedy for a state that pioneered modern agriculture, semiconductors, and space travel, but it is the inevitable result of the biggest man-made disaster of them all: Democrats’ green policies."

– Joel Kotkin,
Urban Reform Institute

A crime syndicate is literally being run out of the White House.

Daily Caller (9/8/22) reports: "President Joe Biden’s new senior adviser has maintained ties with a Chinese government influence operative for over 10 years, the Daily Caller News Foundation found. Since at least 2009, Democratic powerbroker John Podesta, former chairman of Hillary Clinton’s 2016 campaign, has cooperated with Tung Chee-hwa and his Chinese Communist Party-backed organization, the China-United States Exchange Foundation (CUSEF), according to CUSEF’s annual reports. Podesta sits on CUSEF’s 'U.S.-China 2022 Steering Committee' and has written at least three articles for its website since 2011 — the same year in which he appeared on the front cover of the group’s annual report. President Joe Biden’s new senior adviser has maintained ties with a Chinese government influence operative for over 10 years, the Daily Caller News Foundation found. Since at least 2009, Democratic powerbroker John Podesta, former chairman of Hillary Clinton’s 2016 campaign, has cooperated with Tung Chee-hwa and his Chinese Communist Party-backed organization, the China-United States Exchange Foundation (CUSEF), according to CUSEF’s annual reports. Podesta sits on CUSEF’s 'U.S.-China 2022 Steering Committee' and has written at least three articles for its website since 2011 — the same year in which he appeared on the front cover of the group’s annual report. At least a dozen photographs of Podesta are included throughout four of CUSEF’s annual reports between 2009 and 2016. Many of the photographs depict Podesta on CUSEF-sponsored trips to China meeting with Chinese government officials and Tung. President Biden appointed Podesta as a senior adviser for green energy Friday, following the White House’s announcement that Biden’s chief climate adviser, Gina McCarthy, would resign effective mid-September. Podesta will manage Biden’s expansive climate programs, including overseeing the distribution of roughly $370 billion in green energy investments."

Don't be too hard on Gavin, there is no way anyone could have understood the consequences of switching out reliable sources of energy with intermittent ones.

National Review (9/8/22) column: "A punishing heat wave in California has triggered rolling blackouts and brownouts. But don’t blame climate change. This crisis is largely due to the state electric grid’s overreliance on unreliable green energy in a time of record energy demand. Rolling blackouts have begun in the state, with thousands of customers having their power shut off...This week, the operating agency of state’s power grid advised Californians to 'be ready for potential rotating power outages' as electricity demand spiked while power supplied by wind and solar went offline. That timing isn’t a coincidence. California has aggressively shut down more reliable nuclear, coal, and natural-gas power plants to boost demand for solar and wind farms, which naturally stop working later in the day just as electricity demand tends to peak. This policy to promote green energy has tremendously damaged California’s electrical grid, placing the state at serious risk of unintentional mass blackouts to go with the current rolling ones. Things have gotten so bad that California governor Gavin Newsom had to proclaim a state of emergency and temporarily reactivate the very conventional power plants he’d previously worked so hard to shut down. Naturally, Newsom put the blame for this on global warming, rather than his own policies that created the problem. Newsom pushed for a tidal wave of government regulations heavily favoring wind and solar power. He ignored green energy’s major drawbacks, or tried to paper over them with increased subsidies and schemes to force the purchase of it. Until recently, he had even gone along with plans to shutter the state’s last operating nuclear reactor under heavy pressure from environmentalists."

Special K's skills of self delusion are unparalleled.

Reuters (9/6/22) reports: "U.S. climate envoy John Kerry on Tuesday urged China to resume bilateral talks to avert a global warming crisis, and called on world leaders to speed up their energy transition away from fossil fuels. The United States and China, the world's biggest economies, must work together to address climate change, Kerry said. The two countries are also the world's biggest greenhouse gas emitters. 'My hope is that President Xi will get back to the table with us so that we can work together to deal with this international threat,' he said. China last month suspended talks with the United States on climate, security and other areas in response to a controversial visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi. It has said the United States must dispel the 'negative influence' of that visit before talks can resume. read more Speaking to a group of U.S. businesses in Hanoi, Kerry also called on the private sector to boost its investment in the energy transition process. He highlighted the urgency with which countries need to move away from dirty fuels like coal and oil to renewable sources, to limit global warming to 1.5 degrees Celsius above pre-industrial levels."

Energy Markets

WTI Crude Oil: ↑ $83.85
Natural Gas: ↑ $7.96
Gasoline: ↓ $3.75

Diesel: ↓ $5.04
Heating Oil: ↓ $352.71
Brent Crude Oil: ↑ $89.49
US Rig Count: ↓ 834

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