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DAILY ENERGY NEWS | 10/25/2022
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** When this election is over, the new Congress must constrain the Executive from using the Strategic Petroleum Reserve to try and solve their political problems.
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Hot Air ([link removed]) (10/24/22) column: "Joe Biden has made repeated efforts, along with his various spokespeople, to “explain” how well his energy strategy has been working over the past two years. One of the bigger moves that he made was to begin selling off hundreds of millions of barrels of oil from our nation’s Strategic Petroleum Reserve. He has also tried to point the finger of blame at the oil companies for “not producing enough,” even as he went to countries like Saudi Arabia and Venezuela with his hat in his hand, trying to buy more oil. He’s done pretty much everything except promote and expand domestic oil and gas drilling. In the background, we learned that Biden has been in talks to refill the SPR somehow. He’s suggested various approaches, but none of them seemed to make much sense. You just knew that eventually, the oil and gas industry was going to have to weigh in on
the situation, particularly if they were being made out to be the bad guys by the White House. This week, analysts from the Institute for Energy Research (IER) did just that ([link removed]) . And their assessment of the situation doesn’t reflect well on Joe Biden’s handling of the matter. They are well aware of just how much oil and gas we could be producing and how dangerously low the SPR has been allowed to fall. So why do they believe these production issues have been handled in this fashion? They don’t exactly say it in so many words, but you don’t have to read between the lines very far to figure out that all of this was done for political motivations and it hasn’t worked out well...This is a lengthy analysis developed by the people who know the oil and gas industry best and the entire thing is worth your time to read. But just browsing the excerpt above, you can see that IER has
pinpointed just where the White House’s attempts at strategy have gone astray and get a sense of the political machinations underlying these decisions."
[link removed]
** "America is learning the hard way the consequences of demonizing and vilifying traditional energy producers. Biden and team have put our national security in the hands of OPEC and other hostile foreign nations. In California, things are even worse, and its citizens are fleeing in droves."
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– Rick Whitbeck, Power The Future ([link removed])
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New Mexico needs some new faces in Congress.
** Errors of Enchantment ([link removed])
(10/20/22) blog: "With an election looming and ALL three members of New Mexico’s House delegation up for reelection (not to mention Gov. and the Legislature), it is worth reminding voters just how reliant the State is on energy production. One might think that New Mexico would elect political leaders that are broadly supportive of the Industry, but you would be wrong. As RGF’s president has argued in the past, voters in this 'relatively poor, but oil-rich Western state elect(s) politicians that are so directly at odds with its economic best interest.' A recently-published report from the pro-energy American Energy Alliance only reiterates with the following results on its report card. And Gabe Vasquez, running against pro-energy Rep. Yvette Herrell in a hotly-contested race would only shift the balance even further away from rational energy policy having 'argued in favor of opposing fracking, the Green New Deal and the "extremely toxic fossil fuel industry''' according to CNN."
** ([link removed])
Alabama, on the other hand, could do much worse.
** Yellow Hammer ([link removed])
(10/21/22) reports: "The American Energy Alliance (AEA) released its 'American Energy Scorecard' this week, which rates members of Congress and Senate based on their record of supporting energy production. According to the scorecard, six members of the congressional delegation scored 100%, while one scored 0%. The AEA bases its scores on these core principles, as listed on its ** website ([link removed])
.
* Promoting affordable, abundant, and reliable energy.
* Expanding economic opportunity and prosperity, particularly for working families and those on fixed incomes.
* Giving Americans, not Washington bureaucrats, the power to make their own energy choices.
* Encouraging private sector innovation and entrepreneurship.
* Advancing market-oriented energy and environment policies
Reducing the role of government in energy markets.
* Eliminating the subsidies, mandates, and special interest giveaways that lead to higher energy costs.
U.S. Reps. Robert Aderholt (R-Haleyville), Mo Brooks (R-Huntsville), Jerry Carl (R-Mobile), Barry Moore (R-Enterprise), Gary Palmer (R-Hoover), and Mike Rogers (R-Saks) all scored 100%. U.S. Rep Terri Sewell (D-Birmingham) was the only member of the delegation to receive a 0% score from the energy group."
And over all, the Senate has a lot of room to grow.
** The Crude Life ([link removed])
(10/21/22) reports: "This week the American Energy Alliance released its American Energy Scorecard for the United States Senate. The AEA scorecard scores voting and co-sponsorship decisions on legislation affecting energy and environmental policy, educating voters on how their senators vote and holding members accountable for those decisions. This year’s Senate scorecard compiles 28 votes and 1 co-sponsorship decision from the full 6-year terms of the Senators up for reelection in 2022. Six Senators achieved better than a 90% score over their full term of office.
* Sen. Mike Lee (R-UT) (100%)
* Sen. James Lankford (R-OK) (97%)
* Sen. Rand Paul (R-KY) (97%)
* Sen. Ron Johnson (R-WI) (92%)
* Sen. John Kennedy (R-LA) (92%)
* Sen. Jerry Moran (R-KS) (92%)
The two Republican Senators, up for reelection, who scored the lowest were Hoeven, John (R-ND) (75%) and Murkowski, Lisa (R-AK) (72%). Democrats Bennet, Michael F. (D-CO) (7%) and Schumer, Charles E. (D-NY) (4%) were the only two that scored any points from the blue party, while the rest tallied zero points...'With the failed energy policies in Europe and the war in Ukraine, it has become even clearer that access to affordable and reliable energy must be a top priority for American policymakers,' AEA president Thomas Pyle said. 'Voters deserve to know where their elected officials stand on matters related to the promotion of affordable, reliable, American energy. AEA congratulates the American Energy Champions in the House and Senate. These elected officials are committed to American energy production and all the benefits that it entails both at home and around the world.'"
Energy Markets
WTI Crude Oil: ↓ $84.52
Natural Gas: ↑ $5.30
Gasoline: ↓ $3.77
Diesel: ↓ $5.32
Heating Oil: ↓ $389.91
Brent Crude Oil: ↓ $92.86
** US Rig Count ([link removed])
: ↓ 4857
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