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DAILY ENERGY NEWS | 09/22/2022
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** The real reason China stopped listening to Special K: Because they could!
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Mining.com ([link removed]) (9/21/22) reports: "China has enough coal for the next five decades and sufficient oil to last at least 18 years at current rates of production, according to the Ministry of Natural Resources. The latest annual tally of reserves released on Wednesday shows an endowment of fossil fuels that stretches well beyond China’s 2030 deadline to peak its carbon emissions. In the case of coal, the worst fuel for global heating, there’s enough in the ground to take China past even its 2060 ambition to achieve carbon neutrality. China consumes over 4 billion tons of coal a year, most of it domestically mined with imports making up less than a tenth of its needs. In 2021 its reserves stood at around 208 billion tons, 28% more than the prior year’s level, while the outlay on exploration rose 10% to 1.3 billion yuan ($184 million), according to the ministry. For oil, reserves edged up 2.8% to 3.7 billion
tons, which would theoretically be enough to get the nation’s drillers through most of the next two decades, assuming stable output of about 200 million tons a year. Natural gas reserves were a touch higher at 6,339 billion cubic meters, enough for the next three decades. However, China still relies on imports for most of its oil and much of its gas. Investment in exploration over the year rose 13% to 80 billion yuan, with breakthroughs made in finding new reserves in Sichuan, Xinjiang and Inner Mongolia, as well as the Bohai Bay, the report said."
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** "[Divesting from fossil fuels] would be the road to Hell for America."
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– Jamie Dimon, JPMorgan Chase & Co. ([link removed])

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It's not "climate change" creating trillions of dollars and destroying the purchasing power of families across the country.

** E&E News ([link removed])
(9/21/22) reports: "President Joe Biden touted his climate policies in an address to the United Nations General Assembly on Wednesday as he called for nations to work together to 'turn back the tide of climate devastation.' Climate change was a key part of the president’s message to global leaders in New York on Wednesday morning in a wide-ranging speech in which he condemned the Russian war on Ukraine, announced new funding for global food security, and called for reproductive and religious freedom. Biden celebrated the recently enacted Inflation Reduction Act, which includes $369 billion for climate and renewable energy programs. 'Our investments will also help reduce the cost of developing clean energy technologies worldwide, not just the United States,' Biden said. 'This is a global game-changer. And none too soon. We don’t have much time,' he added. 'We all know we’re already living in a climate crisis.' Biden pointed to devastating flooding in Pakistan and drought in the Horn of
Africa. 'Families are facing impossible choices, choosing which child to feed and wondering whether they’ll survive,' the president said. 'This is the human cost of climate change, and it’s growing, not lessening.' The United States, Biden told leaders, 'will work with every nation, including our competitors, to solve global problems like climate change.'"

Darling is the wind blowing today? I wanna run an industrial society.

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What? Didn’t CARB just mandate EV’s for all Californians to protect everyone from toxic air?

** CNBC ([link removed])
(9/20/22) reports: "At least one Tesla Megapack caught fire early Tuesday morning at the energy storage facility operated by utility PG&E in Monterey, California...The California utility became aware of the fire at 1:30 a.m. on September 20, 2022, Smith said in an e-mail. PG&E had commissioned the 182.5-megawatt (MW) Tesla Megapack system, known as the Elkhorn Battery at Moss Landing, in April this year...The fires in the energy storage systems at Moss Landing are reminiscent of incidents involving Tesla Megapacks in Australia. They also underscore the challenges of adopting new technology to improve the efficiency of the power grid, and to make greater use of electricity from intermittent, renewable resources like wind and solar...California Highway Patrol closed a section of Highway 1 and redirected traffic away from the facility for hours following the fire. A fire captain with North Monterey County Fire, John Hasslinger, told CNBC late Tuesday that two companies and four fire engines
responded to the incident starting around 1:40 a.m...By around 11:00 a.m. local time, fire fighters shut the water off but some were staying on location overnight to ensure that the system did not re-ignite. 'We let the initial Megapack burn out,' he explained as per protocols recommended by PG&E and Tesla to the fire department. 'It’s too early to know what was the cause of the fire,' he added, but an investigation will follow in coming weeks. Some residents near the Elkhorn Battery substation at Moss Landing were advised to shelter in place, keeping windows and ventilation systems closed, due to emissions after the fire. That advisory was still in place late Tuesday. According to Richard Stedman, an air pollution control officer for the Monterey Bay Air Resources District (MBARD), lithium ion battery fires can emit toxic constituents, including hydrochloric and hydrofluoric acid. MBARD did not have any immediate data about air quality impacts from the Elkhorn Battery fire, he said, but
will work with local authorities to study the issue after the fire has been fully extinguished."

Energy Markets


WTI Crude Oil: ↑ $85.73
Natural Gas: ↑ $7.63
Gasoline: ↑ $3.68

Diesel: ↓ $4.91
Heating Oil: ↑ $347.43
Brent Crude Oil: ↑ $92.57
** US Rig Count ([link removed])
: ↑ 863



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