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DAILY ENERGY NEWS | 12/29/2022
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** As avid readers of IER's blog will know, "net zero" is not only impossible, but deeply destructive.
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Wall Street Journal ([link removed]) (12/28/22) op-ed: "‘Net zero by 2050” is more than a slogan of climate activism. It has become a chief organizational principle for multinational corporations and the BlackRock-led cartel pushing environmental, social and corporate governance investing. 'Net zero' was mentioned in more than 6,000 filings with the Securities and Exchange Commission in 2022 and countless other times by publicly traded corporations and investor groups in statements and on their websites. The SEC says its proposed climate disclosure rule will help investors 'evaluate the progress in meeting net-zero commitments and assessing any associated risks.' 'Net zero' and its corollary, the 'energy transition,' are talked about so often and so loosely that many take them for granted as worthy goals that could
be accomplished with greater buy-in from political and business leaders. But two new reports from the utility industry should put an end to such loose talk. In September, the Electric Power Research Institute, the research arm of the U.S. electric utility industry, released a report titled 'Net-Zero 2050: U.S. Economy-Wide Deep Decarbonization Scenario Analysis.' The EPRI report concludes that the utility industry can’t attain net zero. 'This study shows that clean electricity plus direct electrification and efficiency . . . are not sufficient by themselves to achieve net-zero economy-wide emissions.' In other words, no amount of wind turbines, solar panels, hydropower, nuclear power, battery power, electrification of fossil-fuel technologies or energy-efficiency technologies will get us to net zero by 2050."
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** "The current heating crisis is a direct consequence of 'green' policies that have pushed up the price of energy in developed economies. An irrational insistence to transition to wind and solar has increased prices and reduced reliability of energy supplies."
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– Vijay Jayaraj, CO2 Coalition ([link removed])
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You get what you pay for...
** Cowboy State Daily ([link removed])
(12/28/22) reports: "A new report examines alleged misinformation in the media on the relationship between natural disasters and climate change. The report uses a number of examples from major media outlets where journalists attribute natural disasters to climate change when there is no evidence to support the claim or the evidence points in the opposite direction. Among the examples listed in “Climate Fact Check 2022” of reporters wrongly attributing climate change to natural disasters is last summer’s historic flooding in Yellowstone National Park. The report, which was published by the Competitive Enterprise Institute (CEI), The Heartland Institute and other organizations, shows how The New York Times in June didn’t come out and say the floods were caused by climate change. Instead, the report calls out the national newspaper for implying it with the headline 'Flooding Chaos in Yellowstone, a Sign of Things To Come.' The NYT article acknowledges that it’s difficult to connect the
flooding to rapidly warming global temperatures and that rivers have 'flooded for millenniums.'...To illustrate his reputation in climate activist circles, Milloy tells the story of how Mark Morano, a former Republican political aide who founded and runs ClimateDepot.com, introduced himself to Associated Press climate reporter Seth Borenstein at the 2022 United Nations Climate Change Conference. Morano said Borenstein 'recoiled in horror' and called him a 'lying, disgusting and deceitful person' who was 'just a notch up from Steve Milloy, who is the worst.' The fact check report notes that The Associated Press received $8 million in donations from several organizations, including the anti-fossil fuel Rockefeller Foundation, to cover climate change. The AP reported on the donation in February, saying the money will allow the organization to hire 20 climate journalists. 'People like me, we climate denialists, we were canceled before anyone else,' Milloy said.
And about all that gloom and doom...
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The Taliban need electricity for mining and the CCP is happy to help. Joe wants "green" energy and he doesn't care how many of America's enemies get paid in the process.
** ATN News ([link removed])
(12/29/22) reports: "China’s Chamber of Commerce representative has met with Mohammad Hanif Hamza, the CEO of Da Afghanistan Breshna Sherkat in Kabul to discuss investment in the energy sector in the country. DABS said in a series of tweets on Thursday that China intends to invest in the production of 500 megawatts of electricity from coal in Afghanistan. The Chinese official said China has experience in producing electricity from coal in eleven countries around the world, and that they are ready to install technical equipment and teams in Afghanistan. Hamza said that the joint technical delegations of both sides will discuss and exchange opinions on all matters and then they will present the results to the leadership of the Islamic Emirate of Afghanistan. The head of DABS has assured the representative of China that they are ready to cooperate in providing any facility for investment in the electricity production sector in Afghanistan."
Energy Markets
WTI Crude Oil: ↓ $77.62
Natural Gas: ↓ $4.51
Gasoline: ↑ $3.15
Diesel: ↑ $4.67
Heating Oil: ↓ $328.26
Brent Crude Oil: ↓ $82.06
** US Rig Count ([link removed])
: ↑ 415
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