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DAILY ENERGY NEWS | 09/30/2022
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** Glad to see the White House taking time off from dealing with a global energy crisis and potential nuclear war to hit the hard issues like getting Ron Klain's wife a job advocating anti-human policies abroad.
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Washington Free Beacon ([link removed]) (9/29/22) reports: "The wife of President Joe Biden's top aide has a fancy new gig at the U.S. State Department. Secretary of State Antony Blinken on Wednesday announced that Monica Medina, wife of White House chief of staff Ron Klain, will serve as U.S. Special Envoy for Biodiversity and Water Resources. According to the Washington Post, which initially declined to note that Medina is married to Klain, the decision to promote her to the newly established role of 'diplomat for plants and animals" is one that 'underscores the Biden's administration's desire" to fight climate change. 'There's a direct connection between biodiversity loss and instability in a lot of parts of the world,' Klain's wife told the Post. 'It's not just about nature for nature's sake. I think it is about people.' Medina currently serves in the State Department as assistant secretary for oceans and international environmental
and scientific affairs. She is an outspoken proponent of the Green New Deal, a controversial legislative proposal sponsored by Rep. Alexandria Ocasio-Cortez (D., N.Y.) that would cost roughly $9 trillion to implement but would have a negligible effect on global temperatures."
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** "Today’s task for Floridians is survival, and the next week’s task—which the nation should share—is recovery. But the other job is limiting the danger going forward, and it must be approached with the same energy that Ian is bringing onshore this week. "
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– Bill McKibben ([link removed])

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So much for all that "Road to Hell" talk from J.P. Morgan.

** Washington Examiner ([link removed])
(9/29/22) reports: "The Federal Reserve announced on Thursday that six of the country’s biggest banks will participate in a pilot climate risk analysis exercise set to begin next year. The pilot program is a big move for the central bank, which has faced pressure from the Left to focus more on climate change even as it has faced pressure from Republicans to avoid climate policy. The banks that will take part in the pilot are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo. The exercise is set to begin early next year and conclude by the end of 2023. Scenario analysis will be used to examine the resiliency of financial institutions under different hypothetical climate scenarios, similar to an effort already being undertaken by European regulators. 'Over the course of the pilot, participating firms will analyze the impact of the scenarios on specific portfolios and business strategies. The Board will then review firm analysis and engage with those
firms to build capacity to manage climate-related financial risks,' the Fed said in a news release. The central bank plans to publish the insights gained through the pilot exercise at an aggregate level, while no firm-specific data will be released to the public. The Fed made the point of highlighting that its climate scenario analysis is distinctly separate from bank stress tests."

Q: What’s keeping the lights on in so-called green Germany these days?

A: C-O-A-L
** ([link removed])

The nothing-burger Manchin brought to the table won't be missed, but it is past time for real, meaningful reform.

** Wall Street Journal ([link removed])
(9/29/22) letter: "Sen. Joe Manchin’s bill that ostensibly would have speeded up the permitting process for conventional energy projects (“Both Parties Should Support My Permitting-Reform Bill,” op-ed, Sept. 26) would have done no such thing. The bill’s failure, however, provides an opportunity to reform the litigation process—the real source of delays and large cost increases. Litigation reform would reduce the environmental damage caused by the suppression of new capital investment to replace older facilities. It would put an end to the “completeness” requirement for agency reviews before permits are granted, a source of endless litigation and delay, focusing on the major environmental impacts rather than hundreds of minor ones that can be predicted on net to cancel out. Such reform would allow the Mountain Valley Pipeline project in West Virginia—evidently Mr. Manchin’s only real concern—while creating the same economic benefits for other projects equally important. Litigation reform m
ight also reverse the growth of the central planning that characterizes the investment process for energy resources and related facilities. This is particularly the case for the huge policy favoritism toward wind and solar power, the massive inefficiencies of which require ever-expanding government subventions as a means of avoiding blackouts and other adverse effects. One such perversity in the Manchin bill was the socialization of the large transmission costs needed to deliver heavily subsidized wind and solar electricity to consumers. Once begun on a large scale, it would prove impossible to prevent the expansion of that same socialization to one economic sector after another. That the perversities of ever-bigger government inexorably metastasize is an eternal truth that Mr. Manchin should have recognized from the beginning."

If you oppose a carbon tax, take a stand and ** contact us. (mailto:[email protected])

** ([link removed])

Tom Pyle, American Energy Alliance
Myron Ebell, Competitive Enterprise Institute
Phil Kerpen, American Commitment
Andrew Quinlan, Center for Freedom and 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: ↓ $79.99
Natural Gas: ↓ $6.87
Gasoline: ↓ $3.79

Diesel: ↓ $4.87
Heating Oil: ↓ $335.25
Brent Crude Oil: ↓ $87.97
** US Rig Count ([link removed])
: ↓ 852



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