View this email in your browser ([link removed])
DAILY ENERGY NEWS | 01/26/2023
Subscribe Now ([link removed])


** Why are energy prices high? The world spent as much in renewables as producing oil and gas, but with renewables you don't get the energy when you need it, so you have to overbuild capacity, so the money doesn't go as far.
------------------------------------------------------------
Bloomberg ([link removed]) (1/26/23) reports: "For the first time, the world invested as much money into replacing fossil fuels as it spent on producing oil, gas and coal, according to an analysis from BloombergNEF. Global investments in the clean energy transition hit $1.1 trillion in 2022, roughly equal to the amount invested in fossil fuel production, the research firm said in its “Energy Transition Investment Trends 2023” report. Never before has the amount spent on switching to renewable power, electric cars and new energy sources like hydrogen topped $1 trillion."
[link removed]


** "The White House isn't happy about the record buyback. President Joe Biden wants more oil production (if that's the case, perhaps he should invite the CEOs of America's top oil companies to the White House and tell them that publicly, face to face)."
------------------------------------------------------------


– Javier Blas, B ([link removed]) loomberg ([link removed])

============================================================

Are EV mandates designed to help Chinese companies?

** Bloomberg ([link removed])
(1/25/23) reports: "When Andreas Tatt, a manager at a greeting card company in Canterbury, UK, was interested in buying a new car, he knew he’d go electric. But after considering a Tesla Model 3 and the Porsche Taycan, he settled on a less familiar choice: a yellow-gold, battery-powered Polestar 2 manufactured by Volvo and its Chinese parent Zhejiang Geely Holding Group Co. “It turns a lot of heads, partly due to its color, partly due to people not knowing what it is,” says Tatt, who waited four months for the vehicle to be shipped from Luqiao in eastern China. “I did have some concerns that the build quality may not be the best,” he says. “Upon test driving, any doubt of quality issues was put to rest.”"

The hypocrisy of the billionaires backing the gas bans

** Robert Bryce ([link removed])
(1/26/23) Substack: "The Climate Imperative Foundation is the newest and richest anti-hydrocarbon, anti-natural gas group you’ve never heard of. How rich is Climate Imperative? According to the latest report from Guidestar, the group took in $221 million in its first full year of operation. (Guidestar calls the income “gross receipts.”) That means that Climate Imperative, which is less than three years old, is already taking in more cash than the Sierra Club, which bills itself as the “nation’s largest and most influential grassroots environmental organization.” According to Guidestar, the Sierra Club collected $180 million in its latest reporting year. Climate Imperative is also taking in more money than the Rocky Mountain Institute which collected about $130 million in its latest reporting year. I use those groups for comparison because they are pushing anti-gas initiatives across the country. More on them in a moment."

Indonesia set a record for coal exports last year because the world is switching to renewables. Wait, what did I just write?

** Reuters ([link removed])
(1/25/23) commentary: "The world's top thermal coal exporter shocked global markets a year ago by temporarily banning coal exports to protect domestic power producers, sending coal prices soaring and kicking off an historically volatile year for coal and other power fuels. But since then Indonesia has made a different mark on the global coal arena by setting a new record pace for shipments that if sustained puts it on course to be the first country to surpass half a billion tonnes of coal exports in a single year. With global power markets still disrupted by the fallout from Russia's invasion of Ukraine - which severed pipelined natural gas supplies to Europe - demand for all power generation fuels is on track to scale record heights in 2023. That means that despite efforts to transition global energy systems away from fossil fuels, Indonesian coal sales may hit a new milestone this year, with commensurate repercussions for emissions of carbon dioxide and other gases that are already at
record concentrations in the earth's atmosphere."

Energy Markets


WTI Crude Oil: ↑ $82.01
Natural Gas: ↓ $2.86
Gasoline: ↑ $3.50

Diesel: ↑ $4.68
Heating Oil: ↑ $342.59
Brent Crude Oil: ↑ $87.89
** US Rig Count ([link removed])
: ↓ 816



** Donate ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Unregulated Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Subscribe to The Plugged In Podcast ([link removed])
** Connect with us on Facebook ([link removed])
** Connect with us on Facebook ([link removed])
** Follow us on Twitter ([link removed])
** Follow us on Twitter ([link removed])
** Forward to a Friend ([link removed])
** Forward to a Friend ([link removed])
Our mailing address is:
** 1155 15th Street NW ([link removed])

** Suite 900 ([link removed])

** Washington, DC xxxxxx ([link removed])
Want to change how you receive these emails?
** update your preferences ([link removed])

** unsubscribe from this list ([link removed])