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DAILY ENERGY NEWS | 02/09/2023
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** Remember, it's only bipartisan if the Republicans give the Democrats everything they want.
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Wall Street Journal ([link removed]) (2/8/23) editorial: "President Biden’s speech writers put a bipartisan coat of paint on his State of the Union address on Tuesday, but only in service of lecturing Republicans to pass the same agenda he couldn’t pass when Democrats ran the House. He barely mentioned anything Republicans want, and the bipartisanship that didn’t bark was any mention of permitting reform for public works and other projects. Remember permitting reform? It’s a Republican priority, and Democrats promised Sen. Joe Manchin a vote on it in return for signing off on the Inflation Reduction Act. The issue failed to pass the Senate last year because the West Virginian didn’t write his bill with serious GOP input. One provision would have given federal regulators broad authority to approve electricity transmission
lines, including socializing their costs. Some Democrats opposed Mr. Manchin’s plan because they want to stop all fossil-fuel projects. Mr. Biden could help cut this Gordian knot, but he never mentioned the issue. Instead he told the country that drillers shouldn’t be afraid to invest in new production, because 'we’re going to need oil for at least another decade.' Try not to laugh, although many Members of Congress couldn’t help themselves. Only a decade? American energy consumption in 2021 was 79% fossil fuels, 12% renewables and 8% nuclear."
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** "If you’re upset about how long it took President Biden to down the Chinese Spy Balloon, wait until you hear how often he’s been American mining jobs to China this past month. Actions taken against American mining opportunities in Minnesota and Alaska since the beginning of the year have thwarted development of Twin Metals’ project in Minnesota and Pebble Mine’s prospect in Alaska. The narratives and tactics are eerily similar, and the outcomes only enrich the Communist Chinese."
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– Rick Whitbeck, Power The Future ([link removed])

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Gee, I wonder why Ghana isn't seeking investment in U.S. or European capital markets?

** Reuters ([link removed])
(2/8/23) reports: "Ghana, which is struggling with its worst economic crisis in a generation, is seeking Indian investment in its oil and gas sector, William Owuraku Aidoo, its deputy minister of energy, said on Wednesday. Ghana has asked India to consider exploration of three blocks in the western basin and to build refineries as the African nation aims to construct a petroleum hub, Aidoo said. 'There are some opportunities in Ghana specially in the oil and gas front. We have some oil blocks available and we came here hoping to attract Indian investments,' Aidoo told Reuters after a meeting with Indian oil minister Hardeep Singh Puri at India Energy Week. He said Ghana will award exploration licences through direct negotiations if Indian companies are interested. Ghana wants India to consider three blocks in the western basin, he said. Apart from offering exploration opportunities, Ghana is also seeking Indian support to build refineries of about 300,000 barrels per day. 'We have space for
three of them ... we want to make a petroleum hub,' Aidoo said."

The greens are all about saving the Earth as long as it spoils someone else's neighborhood.

** ABC News ([link removed])
(2/8/23) reports: "As officials around the world call for a transition to a greener economy, one city is being transformed to accommodate the growing demand for one important mineral: cobalt. The Democratic Republic of the Congo produces an estimated 70% of the world's cobalt, and most of it comes from the city of Kolwezi. Cobalt, which is mainly produced as a byproduct of copper and nickel, was ignored for a long time in favor of those more in-demand minerals. But now, the world is turning to it for its essential role in lithium-ion batteries for phones and electric vehicles, or EVs. The Biden administration in January released a memorandum of understanding with the Democratic Republic of the Congo and neighboring Zambia, outlining plans to help strengthen the African countries' EV battery supply chain. Satellite imagery provided by Planet Labs shows the dramatic growth of copper and cobalt mines in and around Kolwezi over the last 5 years as demand has skyrocketed. The mines aren't only
growing around the city, they are often creeping into people's neighborhoods. These satellite images of the west of the city reveal entire streets have disappeared over the last few years."

Green, renewable energy!

** ([link removed])

Energy Markets


WTI Crude Oil: ↓ $77.83
Natural Gas: ↑ $2.43
Gasoline: ↓ $3.43

Diesel: ↑↓ $2.62
Heating Oil: ↓ $282.63
Brent Crude Oil: ↓ $84.52
** US Rig Count ([link removed])
: ↓ 822



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