Mayor Pete was wrong about EVs

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DAILY ENERGY NEWS | 01/30/23

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Mayor Pete Says EVs Save Money On Energy. LIAR!

The Epoch Times (1/29/23) Reports: "The cost to fuel electric vehicles in the United States is higher than gas-powered cars for the first time in 18 months, a consulting company said. “In Q4 2022, typical mid-priced ICE (Internal Combustion Engine) car drivers paid about $11.29 to fuel their vehicles for 100 miles of driving. That cost was around $0.31 cheaper than the amount paid by mid-priced EV drivers charging mostly at home, and over $3 less than the cost borne by comparable EV drivers charging commercially,” Anderson Economic Group (AEG) said in an analysis. However, luxury EVs still enjoy a cost advantage against their gas-powered counterparts. It costs luxury EV owners $12.4 to drive every 100 miles on average if they charge their cars mostly at home or $15.95 if they charge their cars mostly at commercial charger stations in the 4th quarter of 2022."

"The increased focus on energy security as a result of the Russia-Ukraine war has the potential to accelerate the energy transition as countries seek to increase access to domestically produced energy, much of which is likely to come from renewables and other non-fossil fuels."

– Spencer Dale,
BP Chief Economist

Proved reserves of natural gas increased 32% in 2021—so tell me we're "running out" again.

Energy I nformation Administration (1/30/23) Reports: "Some mornings I already know what the Energy Absurdity of the Day will be when I jump out of bed. Today wasn't one of those days, but my dilemma was quickly resolved in an email from the gang at The Energy Transition Podcast. Armando Cavanha and Irina Slav were having email-style fits of laughter along with Dr. Tammy Nemeth, who had sent out a note linking to an article at Driving.ca detailing plans at Dodge to add range extending tech to its new Ram EV pickups. Why, it's a miracle!, the prophets of the energy transition might initially exclaim."

King Coal claims another victim. Tihange 2 in Belgium will close this week, but that coal plant where Greta staged getting arrested lives on.

The Brussels Times (1/27/23) reports: "The Tihange 2 nuclear reactor will be permanently shut down on Tuesday evening, after 40 years of service. Fortunately for the approximately 100 members of staff hired at the site, this will not lead to any job losses, operator Engie Electrabel assured on Friday. In accordance with the law on the exit from nuclear power, the Tihange 2 nuclear power plant will be definitively disconnected from the grid on 31 January at 23:59, after 40 years of operation in “complete safety”, insists Antoine Assice, the director of various power plants at Tihange."

I’ll let John Kerry go first.

Medical Press (1/27/23) reports: "Anesthesiologists can play a role in reducing the greenhouse gas emissions that contribute to global warming by decreasing the amount of anesthetic gas provided during procedures without compromising patient care, suggests new research being presented at the American Society of Anesthesiologists' ADVANCE 2023, the Anesthesiology Business Event. Inhaled anesthetics used during general anesthesia are estimated to be responsible for 0.01% to 0.10% of the total worldwide carbon dioxide equivalent emission. For example, an hour of surgery using the inhaled anesthetic desflurane is equivalent to driving up to 470 miles, according to one study. Carbon dioxide is the primary greenhouse gas that traps heat in the Earth's atmosphere, contributing to global warming."

They won't stop blocking the mining projects that the rest of their agenda requires.

Wall Street Journal (1/30/23) reports: "The Biden Administration is heavily subsidizing electric vehicles, but at the same time it is blocking mineral projects needed to produce them. Another example of this head-scratching contradiction came Thursday when Interior Secretary Deb Haaland walled off much of Minnesota’s Superior National Forest from mining. Minnesota’s Duluth Complex has one of the world’s largest undeveloped mineral deposits, including copper, nickel and cobalt that are needed in vast quantities for EV batteries. Ms. Haaland is assuring the deposit stays undeveloped by signing an order withdrawing more than 225,000 acres in the Superior National Forest from mining for two decades."

Energy Markets

WTI Crude Oil: ↓ $78.45
Natural Gas: ↓ $2.70
Gasoline: ~ $3.50

Diesel: ~ $4.68
Heating Oil: ↓ $321.25
Brent Crude Oil: ↑ $85.41
US Rig Count: ↓ 816

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