Your Daily Energy News
View this email in your browser ([link removed])
DAILY ENERGY NEWS | 10/10/2022
Subscribe Now ([link removed])
** Denying the reality of economics is on the same level as promoting flat Earth theory. It's time to escape Europe if you can afford it.
------------------------------------------------------------
Wall Street Journal ([link removed]) (10/9/22) reports: "The highest inflation in decades and the steep drop in Russian natural gas exports to Europe have pushed a growing number of governments to experiment with ways to control energy prices. The plans will test the economic wisdom that price controls distort markets and create supply shortages. In the U.K., the new government is planning to cap household energy costs and pay utilities the difference between the cap and market prices, and Germany is working up plans to cap the cost of electricity and natural gas. The European Union has approved both a plan to claw back some energy companies’ profits and redistribute them to consumers, and it is also exploring the creation of a cap on the price of natural gas across the bloc. The U.S. is leading an effort with its allies to cap the global sales price of Russian oil, while a United Nations
agency last week called for policymakers to opt for price caps and windfall taxes to fight inflation. Economic textbooks predict that imposing a lower price on a product will reduce its supply. Unless demand is also sufficiently reduced, possibly through rationing, the mismatch between supply and demand can create shortages. Enforcing price controls can also be difficult and require a large bureaucracy. And since controls are usually lifted at some point, higher costs to consumers are only delayed, not prevented. The U.S. imposed price controls during World War II but also rationing. Lines at gasoline stations in the 1970s were blamed in part on price controls imposed at the time."
[link removed]
[link removed]
** "I'm calling for a Special Session to address the greed of oil companies. Gas prices are too high. Time to enact a windfall profits tax directly on oil companies that are ripping you off at the pump."
------------------------------------------------------------
– Gavin Newsom, California's Chief Commissar ([link removed])
============================================================
Shot:
** ([link removed])
Chaser:
** MSN ([link removed])
(9/11/22) reports: "The most famous landmark in Paris, the Eiffel Tower, is set to go dark early as the French capital seeks to save energy amid Europe's energy crisis, The Guardian reported. The 1,083 ft tower, completed in 1889, is lit up every day from dusk until 1 a.m. The tower's lights have given the "Iron Lady" her golden glow since 1958. Its 20,000 bulbs also twinkle for five minutes on the hour, every hour. But City Hall is expected this week to propose turning off the tower's lights more than an hour early at 11.45 p.m, when the last visitors leave, to save electricity. Jean-François Martins, the head of the tower's management, told The Guardian: 'It's a highly symbolic gesture – part of the growing awareness around energy sobriety.' The tower's nighttime lighting accounts for just 4% of its annual energy consumption, however. The move is seen as a way to set an example for the reduction of city illumination in general as countries brace for the coming winter. Energy bills have
skyrocketed, and Russia's Gazprom has stopped sending natural gas to French utility Engie over a payment dispute as Insider has reported. Meanwhile, Marseille, another big city in France, will turn off the lights of some monuments like the Pharo Palace from the end of September, according to The Guardian."
🎶 Go grease lightning, you can barely tow 3,500 pounds 100 miles, grease lighting, go grease lighting... 🎶
** ([link removed])
Energy Markets
WTI Crude Oil: ↑ $93.02
Natural Gas: ↑ $6.79
Gasoline: ↑ $3.91
Diesel: ↑ $5.06
Heating Oil: ↑ $406.99
Brent Crude Oil: ↑ $98.13
** US Rig Count ([link removed])
: ↑ 893
** 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])
