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DAILY ENERGY NEWS | 02/15/2023
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** It's all about democracy and local voices until the locals want affordable energy.
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AP ([link removed]) (2/15/23) reports: " Alaska’s Republican U.S. senators and several Alaska Native leaders on Tuesday urged the federal government to approve a major oil project on the petroleum-rich North Slope, casting the project as economically critical for Indigenous communities in the region and important for the nation’s energy security. The Biden administration 'damn well better not kill the project, period,' Sen. Lisa Murkowski told reporters on a video conference. The U.S. Bureau of Land Management earlier this month released an environmental review for ConocoPhillips Alaska’s Willow project that listed as a preferred alternative an option calling for up to three drill sites initially, compared to the five that had been favored by the company. It is an option project proponents, including Alaska’s bipartisan congressional delegation, have expressed support for. But Murkowski
and Sen. Dan Sullivan said any further limiting of the project could kill it...Nagruk Harcharek, president of the group Voice of the Arctic Iñupiat, whose members include leaders from across much of the North Slope, said there is 'majority consensus' in the region in favor of the project, calling Willow a “lifeline” for residents. He said there are limited economic development opportunities in the region, which makes approval of the Willow project important."
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** “[Energy executives] want to be respected business leaders. They don’t want to be told they’re lying, or [that] they’re spreading misinformation. I think we should speak more honestly, and less and less appeasement-oriented.”
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– Chris Wright, Liberty Energy ([link removed])

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So much for getting off oil and electric-powered planes.

** Wall Street Journal ([link removed])
(2/14/23) reports: "Air India Ltd. ordered 470 jets from Boeing Co.and Airbus marking the largest deal for commercial aircraft in aviation history and coming as airlines scramble for jets to meet surging demand for air travel. The airline said it has agreed to purchase 250 Airbus jets and 220 Boeing planes, surpassing a deal for 460 planes by American Airlines in 2011. The deal is aimed at providing more planes to supply India, which is expected to be the fastest-growing major aviation market in the world. The Boeing orders, based on the planes’ list prices, came in at $45.9 billion, including options. Airbus no longer quotes list prices for its jets. Based on analysts’ estimates, the deal’s total value was around $85 billion before discounts. The previous record—a 2013 order for Boeing 777X jets by Emirates Airline—was valued at about $75 billion. Airlines don’t typically pay list price, instead benefiting from large, undisclosed discounts. The Boeing order was first announced by the White
House, with the Airbus deal unveiled by Indian Prime Minister Narendra Modi and French President Emmanuel Macron at a joint press conference. President Biden later discussed the deal with Mr. Modi, according to the White House."

Somehow the "climate emergency" is only grave enough to warrant the outlaw of useful lawnmowers, but not snow blowers...

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The greens are getting their wish--new car priced so high only rich Americans can afford them.

** Bloomberg ([link removed])
(2/13/23) reports: "A shiny new car in the driveway has been an emblem of middle-class prosperity for generations. But for the typical American family, it’s now a distant dream. The average monthly payment for a new car has soared to a record $777, nearly doubling from late 2019, according to Kelley Blue Book owner Cox Automotive. That’s almost a sixth of the median after-tax income for US households. Even used models have climbed to $544 a month on average. The sticker shock extends well beyond the US, where inflation is a thorny political issue for President Joe Biden as the 2024 election looms. In Europe, prices are flirting with records. Used-car prices soared in Japan last year, and in China, a rapid push to electric vehicles means consumers will have to pay more in some cities.' At the root of the problem is automakers’ new mantra: Keep inventory lean and price tags fat. Three years after the pandemic triggered a global shortage of semiconductor chips and crippled car
manufacturing, Ford Motor Co., General Motors Co. and their overseas rivals are notching big profits. Even as the chip crunch shows signs of easing, they’re pledging to keep production in check."

Energy Markets


WTI Crude Oil: ↓ $78.11
Natural Gas: ↓ $2.53
Gasoline: ~ $3.41

Diesel: ~ $4.54
Heating Oil: ↓ $287.41
Brent Crude Oil: ↓ $84.66
** US Rig Count ([link removed])
: ↓ 820



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