Big Green, Inc.

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DAILY ENERGY NEWS | 10/11/2022

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The greens show their true colors.

E&E News (10/11/22) reports: "The ink had barely dried on the Inflation Reduction Act when the television ads started. 'It’s a real holy sh— moment,' the ad’s narrator said, flashing to a picture of Sen. Mark Kelly (D-Ariz.), 'in a good way.' The spots in August were part of a $12 million blitz from the League of Conservation Voters Victory Fund and Climate Power Action. Kelly is one of the most vulnerable incumbents in the country, but the ads ignored his midterm opponent. That was the point — to create a positive feedback loop powered by climate action. Green leaders have spent a decade building up enough financial muscle to defend incumbents who back certain climate policies. The biggest groups are now sitting on $38 million, more than triple their war chests at this point in 2018, according to an E&E News analysis of disclosures to the Federal Election Commission. The goal is to avoid repeating their mistakes of the past. Environmental groups cheered when Democrats pushed a climate change bill through the House in 2009, but they had few ways of supporting the lawmakers who voted for it. They were all but helpless to watch Republicans romp to historic midterm victories in 2010. That’s all changed. Environmental super political action committees — which can raise and spend unlimited amounts of money as long as they don’t coordinate with candidates — have continued their meteoric growth in the 2022 election cycle...Green spending has its critics, too. 'This level of spending on partisan politics just proves that this is no longer about the environment,' said Tom Pyle, president of the American Energy Alliance, a conservative advocacy group that has received support from fossil fuel interests. 'A more apt name for the movement today is Big Green Inc., because they are really just a big money political machine fueling the Democratic Party,' said Pyle."

"The Biden administration energy policies may be deeply perverse, and its assertions about the effects of its SPR sales laughable, but unanticipated consequences are always to be expected, and occasionally prove fortuitous."

– Benjamin Zycher,
American Enterprise Institute

What's wrong with EVs? Where do we begin?

Gavin's plan: Doing the same terrible things that got us here, but maybe something different happens?

Forbes (10/11/22) reports: "First leverage your ignorance of economic forces to create a problem. Next send taxpayers checks funded by their own taxes to paper over the problem. Then hope that voters are too dumb to understand that your 'solution' to the problem will only compound it so they’ll re-elect you. That appears to be the strategy being employed by California Governor Gavin Newsom today as it relates to the state’s extraordinarily high prices for gasoline at the pump. California’s gas prices always run higher than the national average due to all the added taxes and fees the state tacks onto the price for each gallon of gas. But those taxes and fees (totalling about $1.14 a gallon) don’t explain the disparity between the average price of gas in California — nearly $6.29 a gallon — and the national average, which today stands at $3.92 according to AAA, and just $3.34/gal in Florida despite supply disruptions from Hurricane Ian. In an email, the Institute for Energy Research (IER) points to Newsom’s own energy-related policies, designed to punish refiners and producers of oil and gas, as the culprits who have produced the state’s lack of refining capacity. 'California refineries, similar to U.S. refineries, have been closing due to an onerous regulatory environment, rich inducements to switch to biofuels and to demand destruction due to COVID lockdowns.' In response to the blowout in gas prices, Gov. Newsom recently authorized refiners to switch over from producing summer blends of gasoline to less-costly winter blends. That move that might normally be helpful; California requires a unique blend of anti-smog gasoline, made only in California. Dropping that requirement could enable shipments of gasoline from the rest of the country. But it doesn’t resolve the biggest problem, a shortage of refining capacity.”

Where are the "CLIMATE REPORTERS" on this inconvenient truth?

This is the template to battle the anti-humans.

New York Post (10/10/22) reports: "The world’s largest asset manager is facing $1 billion in withdrawals from Republican state treasurers because of the financial giant’s investment priorities, according to published reports. BlackRock, which manages $8.5 trillion, has come under fire for its aggressive push on so-called ESG investments that promote environmental, social and governance issues. The outrage has led multiple GOP treasurers to announce they are planning to withdraw — or have already withdrawn — state funds from Larry Fink’s company. The Louisiana treasurer, John Schroder, said last week he is pulling out $794 million, while Curtis Loftis of South Carolina announced plans to withdraw $200 million by the end of the year. That comes on the heels of the Utah treasurer withdrawing $100 million and Arkansas’ treasurer liquidating $125 million, according to the Financial Times. People with knowledge say these withdrawals pale in comparison to the billions of dollars state pension funds invest in BlackRock. State treasurers allocate cash on hand in the treasury but have no say in where pension funds are allocated. Despite, the planned withdrawals, BlackRock’s assets under management have actually surged $1 trillion since 2020."

Energy Markets

WTI Crude Oil: ↓ $89.84
Natural Gas: ↑ $6.54
Gasoline: ↑ $3.92

Diesel: ↑ $5.12
Heating Oil: ↓ $377.92
Brent Crude Oil: ↓ $94.88
US Rig Count: ↑ 897

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