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DAILY ENERGY NEWS | 12/27/2022
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** America's clean air might seem like a Christmas Miracle, but it's largely thanks to the innovation of America's energy producers.
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Colorado Business Magazine ([link removed]) (12/24/22) article: "If you’ve lived here long enough, you know about Colorado’s infamous brown cloud and seen the electronic signs with air quality warnings. These ozone alerts from the Colorado Department of Transportation (CDOT) appear more often on hot summer days and advocate carpooling, exercising indoors, or driving and mowing lawns after 5 p.m. The signs are a plea to residents and visitors to literally take cover to mitigate impact from — or avoid contributing to — additional ozone pollutants. However, there are numerous competing factors that cause, bring and trap these pollutants in Colorado’s air...While emissions from the oil and gas industry do exist, what’s less talked about are the benefits the industry delivers. For years, the Denver-based Western Energy Alliance (WEA) has highlighted that Western natural gas is a powerful 'clean air tool,' citing statistics that indicate the use
of cleaner-burning natural gas to produce electricity emits approximately half the carbon dioxide (CO2) of coal along with lower levels of other air pollutants. Burning natural gas for electricity generation improves air quality and helps cities comply with NAAQS for sulfur oxides and particulate matter, according to the Alliance... Perhaps the most impressive point is one the Institute for Energy Research ([link removed]) (IER) has been driving since just before Earth Day’s 50th anniversary celebration in 2020, and just prior to the pandemic when people hunkered down and reduced travel, which led to reduced transportation emissions. IER highlights, using EPA data, that between 1970 and 2021:
* U.S. gross domestic product (GDP) increased 292%.
* vehicle miles traveled increased 191%.
* energy consumption increased 59%.
* and U.S. population increased by 46%.

During the same period, total emissions of the six principal air pollutants dropped by 73%. Even with the increased use of our natural resources in almost every sector, U.S. air pollutant measurements are lower today than 50 years ago. It might very well be the greatest energy, economic and environmental success story you’ve never heard."
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** "We are now in the unfortunate situation where the environmental movement, which professes its belief in science, ignores or attacks all research that disconfirms its beliefs."
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– Richard S.J. Tol, University of Sussex ([link removed])

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Special Envoy Kerry must have had Xi for secret Santa this year.

** Forbes ([link removed])
(12/20/22) column: "Christmas is coming, and Beijing should be grateful for these three gifts from America: policies that strengthen China’s economy at the expense of our own, leaving Americans with higher costs and a weaker economy. China could not ask for a more generous Santa. #1 Gift: Battery Electric Vehicles. The California Air Resources Board has issued a rule that all new vehicles sold in the Golden State be plug-in hybrid or pure battery powered by 2035. In Washington, President Biden issued an executive order calling for half of the nation’s new vehicle sales to be electric by 2030 and instructed the head of the EPA to 'coordinate the agency’s activities' with the State of California...#2 Gift: Focus on Climate Change. Over the last year Executive Branch agencies have used climate change to justify slowing production and delivery of U.S. oil, natural gas, and coal, and to encourage the use of wind turbines and solar panels made in China. This drives up Americans’ electricity
bills. And, once again, it’s the Chinese who profit. Seven of the top 10 wind and solar manufacturers are Chinese...Gift #3: Environmental, Social, and Governance (ESG) Movement. Led by BlackRock, Inc., and State Street Global Advisors, major financial institutions are pressuring international development organizations, private corporations, and pension funds not to invest in conventional fuels. This weakens America, which produces these fuels, and helps China, which manufactures wind turbines and solar panels using coal-fired power plants. ESG means fewer jobs for Americans, more jobs for the Chinese...As America gives China economic advantages this Christmas, American consumers are left with the proverbial lump of coal in their stockings—coal that they are not even permitted to use. They face higher transportation costs, higher electricity costs, and lost jobs."

Want to drill for oil and gas? Walk like an Egyptian.

** Alarabiya ([link removed])
(12/27/22) reports: "The Egyptian government announced the launch of a global tender for oil and gas exploration in 12 regions in the Mediterranean Sea and the Nile Delta, days after demarcating its western maritime borders, the state news agency reported on Tuesday. The tender was set for 12 blocks, split evenly between onshore and offshore, and the deadline for offers in the bid round was set for April 30, 2023, the tender announcement showed."

** ([link removed])

This guy can't even take a vacation from his war on reliable energy.

** Real Clear Energy ([link removed])
(12/23/22) column: "President Biden is retreating to the U.S. Virgin Islands on a taxpayer-funded vacation to close out 2022. But, with growing challenges facing the territory, including a spiraling debt crisis and an energy grid experiencing island-wide blackouts, he may use this trip to unveil an expensive reimagining of the territory’s infrastructure. Washington has already attempted to fix USVI’s problems through an excess of federal resources and taxpayer dollars. Government mismanagement has caused these dollars to have been wasted or remain unspent. While the territory is already reliant on federal handouts, Virgin Islanders and taxpayers across the United States don’t need more of the same from D.C. Washington bureaucrats may not understand that throwing federal dollars at a problem is not a panacea. If it were, seemingly every problem in the USVI would have been fixed years ago. Under the umbrella of disaster relief, the federal government has committed $10 billion for territory
wide improvements following hurricanes Irma and Maria. That’s roughly equivalent to $114,000 for every resident of the USVI...Sensing another money grab opportunity, local officials are pressing the Biden administration to fund the territory’s gambit into renewable energy. In March, USVI Governor Albert Bryan announced a pipedream idea to transition St. Croix’s grid to 100 percent solar power 'within 90 days.' Of course, Virgin Islanders won’t pay for it, taxpayers will. With the Department of Energy footing the bill, the cost of solar will appear to be “essentially free.” Good politically for the Governor, not so much for taxpayers because that “free” price tag comes at a cost to taxpayers. In fact, FEMA has already put the deposit down on a massive $200 million solar project. Delegate Plaskett also appears determined on getting more money from taxpayers. In a recent speech on the House floor, she made a direct lobbying pitch to the administration for funding of renewables in the
territory. In her speech, she said with 'the much-needed transition to green energy and renewables, we have an opportunity to reimagine' parts of St. Croix"

Energy Markets


WTI Crude Oil: ↑ $79.95
Natural Gas: ↑ $5.15
Gasoline: ↓ $3.10

Diesel: ↓ $4.67
Heating Oil: ↑ $327.36
Brent Crude Oil: ↑ $84.16
** US Rig Count ([link removed])
: ↑ 869



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