Your Daily Energy News

View this email in your browser ([link removed])
DAILY ENERGY NEWS | 10/05/2022
Subscribe Now ([link removed])


** The goal is to fill and expand the federal government with idealogues determined to make modern life impossible.
------------------------------------------------------------
E&E News ([link removed]) (9/29/22) reports: "Federal agencies are posting 'helped wanted' signs as the Biden administration tries to quickly hire thousands of people to implement the new climate law. The Department of Energy will need hundreds of new employees, many in its loan office. Treasury Secretary Janet Yellen, meanwhile, says the IRS plans to hire 5,000 people. And EPA has to staff up the new national green bank...Multiple challenges loom. Huge gaps already exist at some federal agencies, many of which were depleted during the Trump administration, and one critical agency didn’t get any new funding for staff at all: the Department of Justice. 'People tend to forget about the Justice Department,' said Jeff Hauser, executive director of the Revolving Door Project and a former DOJ official. 'But they have a huge role to play to make sure the IRA is successful.' The IRS does have some enforcement authority over new
renewable energy incentives. Fraud issues, however, would be handled by federal prosecutors...'DOE is scaling up to meet this moment and implement the Bipartisan Infrastructure Law and Inflation Reduction Act, standing up dozens of new programs and hiring hundreds of new staff members — from attorneys to project managers,' a spokesperson said in an email...EPA got more than $40 billion from the Inflation Reduction Act, including to implement the methane fee and stand up a national green bank. 'EPA has never administered anything at this scale,' Michael Gergen, a Latham & Watkins LLP attorney, said on a recent Institute for Policy Integrity panel...The agency also just announced a 200-person environmental justice and external civil rights office, which will be responsible for dispersing $3 billion in block grants...At the Agriculture Department, officials are preparing to hire people to research and distribute more than $9.7 billion for rural electrification, a task that will likely require
more energy experts, RMI said. And there’s an additional $20 billion for regenerative agriculture and investments for conservation."
[link removed]


** "California politicians have ripped you off. By lying about why prices are high. Why is California at $6.50 while Texas is at $3? Because California politics. Why else did you waive RVP requirements? Hint: because smart people told you they cause higher."
------------------------------------------------------------


– Patrick De Haan, Gas Buddy ([link removed])

============================================================

A serious warning from someone who knows a thing or two about how the economy works.

** Fox Business ([link removed])
(9/19/22) op-ed: "While the U.S. Supreme Court's recent decision on Roe v. Wade has garnered massive media and public attention, another recent action by the court could have a significant positive impact for the future of the American economy. The court recently ruled that the Environment Protection Agency lacks the legal authority to regulate greenhouse gases outside its congressional mandate. Regulatory overreach has become chronic and highly damaging...West Virginia Attorney General Patrick Morrisey – who spearheaded the legal challenge – applauded the ruling. But Morrisey has beefs with other federal agencies and their mission creep to advance a damaging climate agenda. That’s why he is leading the fight against a brazen, power-grabbing effort by the Securities and Exchange Commission (SEC) to force companies to calculate their own greenhouse gas emissions and – get this – those of their suppliers and vendors...For most businesses, calculating emissions is no easy task. The SEC itself
admits the proposed rule will increase the overall cost of disclosure and compliance for companies by up to $10.2 billion per year. This would exceed the costs for all other SEC rules combined, no doubt compelling some companies to simply go private rather than endure the cost and complication of compliance. The rule also requires companies to evaluate the risks to facilities of locating in climate-exposed areas, a definition that conceivably would make vast parts of the U.S. seemly unsuitable for new investment. In a year when 'U.S. household wealth has fallen by $5 trillion to $8 trillion,' a new threat to investment and jobs is the last thing we need.Plus, how does the new rule possibly benefit investors, which is why lawmakers created the SEC in the first place?"

A war on coal is a war on the future.

** ([link removed])

Promises made, promises kept. Last year Biden promised America a "very dark winter" and now he is set to deliver.

** Oil Price ([link removed])
** ([link removed])
(10/1/22) reports: "Domestic oil production remains nearly a million barrels per day (BPD) below the monthly record level set just before the Covid-19 pandemic caused production to plunge. The all-time monthly high for oil production took place in November 2019 at 13.0 million BPD (Source). The all-time annual high was also in 2019, when U.S. production averaged 12.3 million BPD. Current U.S. oil production is 12.1 million BPD, while the average for the year so far is 11.9 million BPD. That is on pace to be the second-highest ever annual U.S. oil production. Natural gas production experienced a similar plunge due to Covid, but production has bounced all the way back. Monthly natural gas production hit an all-time high of 3.008 trillion cubic feet (Tcf) in December 2019 (Source). Monthly production subsequently fell below 2.7 Tcf as the pandemic began to impact the markets, but production has steadily climbed back. The previous natural gas production record in December 2019 was essentially
tied in December 2021, but average monthly production this year has exceeded all other years. In fact, average 2021 monthly production of 2.85 Tcf beat the previous 2019 average monthly record of 2.82 Tcf. However, the monthly average through the first half of 2022 was even higher at 2.89 Tcf. I made this point during a recent interview on radio station WBEN out of Buffalo, New York. The host wondered why — with natural gas production at an all-time high — heating bills are projected to surge through the winter across the northeast? It’s because natural gas demand is also at an all-time high. According to the 2022 BP Statistical Review, global natural gas demand last year reached a new all-time high, surpassing the previous record set in 2019 by 3.3%."

Energy Markets


WTI Crude Oil: ↑ $87.09
Natural Gas: ↑ $6.92
Gasoline: ↑ $3.83

Diesel: ↑ $4.86
Heating Oil: ↑ $359.15
Brent Crude Oil: ↑ $92.57
** US Rig Count ([link removed])
: ↑ 873



** Donate ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Connect with us on Facebook ([link removed])
** Connect with us on Facebook ([link removed])
** Follow us on Twitter ([link removed])
** Follow us on Twitter ([link removed])
** Forward to a Friend ([link removed])
** Forward to a Friend ([link removed])
Our mailing address is:
** 1155 15th Street NW ([link removed])

** Suite 900 ([link removed])

** Washington, DC xxxxxx ([link removed])
Want to change how you receive these emails?
** update your preferences ([link removed])

** unsubscribe from this list ([link removed])