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DAILY ENERGY NEWS | 12/20/2022
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** "Climate" policy has nothing to do with carbon emissions; it's all about rewarding the friends of Big Green, Inc. and punishing everyone else.
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Daily Caller ([link removed]) (12/17/22) reports: "Although the United Nations states that carbon capture and storage technology (CCS), equipment that enables fossil fuel producers to sequester emissions to mitigate global warming, is needed to meet emissions reduction targets, multiple climate activist groups oppose its development as they believe CCS entrenches the oil and gas industry. The UN Intergovernmental Panel on Climate Change (IPCC) states that governments and other entities must employ CCS to remove greenhouse emissions from the atmosphere and store them underground in order to limit global temperature increases below 2.7°F, compared to pre-industrial levels, according to an April IPCC report. However, climate activist nonprofits like the Sierra Club, which has previously referred to the IPCC’s work as the “gold standard” for climate science, argue that CCS is a 'false' climate solution
that is designed to help the fossil fuel industry...'They cherry-pick these reports for things that suit their goals and ignore the rest … they should not be against any solution that involves reducing CO2 emissions,' Institute for Energy Research President Thomas Pyle told the DCNF. 'The industry is responding to their calls to reduce CO2 but that’s not good enough for groups like the Sierra Club because they want to destroy the oil and gas industry.'"
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** "We are still in the emperor’s-new-clothes stage of renewable energy, even though the facts are plain."
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– Rupert Darwall, RealClearFoundation ([link removed])

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The maker of the car that has done more to reduce carbon dioxide emissions than any other doesn’t think the future is exclusively EVs.

** Wall Street Journal ([link removed])
(12/18/22) reports: "Toyota Motor Corp. President Akio Toyoda said he is among the auto industry’s silent majority in questioning whether electric vehicles should be pursued exclusively, comments that reflect a growing uneasiness about how quickly car companies can transition. Auto makers are making big bets on fully electric vehicles, investments that have been bolstered by robust demand for the limited numbers of models that are now available. Still, challenges are mounting—particularly in securing parts and raw materials for batteries—and concerns have emerged in some pockets of the car business about the speed to which buyers will make the shift, especially as EV prices have soared this year. 'People involved in the auto industry are largely a silent majority,' Mr. Toyoda said to reporters during a visit to Thailand. 'That silent majority is wondering whether EVs are really OK to have as a single option. But they think it’s the trend so they can’t speak out loudly.' While major rivals,
including General Motors Co. and Honda Motor Co., have set dates for when their lineups will be all-EV, Toyota has stuck to a strategy of investing in a diverse lineup of vehicles that includes hydrogen-powered cars and hybrids, which combine batteries with gas engines."

When the People's Republic of California starts rationing electricity the residents will remember these times fondly...

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Solar grew by 47% in Europe and Europe spent an extra $1 trillion on energy. Coincidence?

** PV Magazine ([link removed])
(12/19/22) reports: "In another record year for solar, SolarPower Europe estimates PV in Europe grew by 47% in 2022, rising from 28.1 GW in 2021 to 41.4 GW this year. Germany installed the most with 7.9 GW, followed by Spain at 7.5 GW, and Poland at 4.9 GW. For the first time, the top 10 European solar markets all added at least 1 GW. Europe added 41.4 GW of new solar capacity in 2022, according to SolarPower Europe’s (SPE) new EU Market Outlook for Solar Power 2022-2026 report. Annual additions grew by almost 50%, up from 28.1 GW in 2021. It's another record-breaking year for solar, with the continent adding 10 GW more capacity than predicted by SPE in 2021. Germany again installed more solar than any other European country, adding 7.9 GW. Spain followed close behind with 7.5 GW of new installations, and Poland closed out the top three with 4.9 GW. Poland's shift from net-metering to net-billing in April 2022, combined with high electricity prices and a fast-growing utility-scale segment,
contributed to its remarkable third-place performance."

Energy Markets


WTI Crude Oil: ↑ $575.55
Natural Gas: ↓ $5.37
Gasoline: ↓ $3.12

Diesel: ↓ $4.74
Heating Oil: ↓ $304.20
Brent Crude Oil: ↑ $80.10
** US Rig Count ([link removed])
: ↓ 853



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