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DAILY ENERGY NEWS | 02/24/2023
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** The Biden admin is not sending their best, and if they are America is in big trouble. The latest episode of The Unregulated Podcast is now streaming on our website ([link removed]) , or wherever you listen.
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** "Apparently, most Net Zero advocates have no idea how to replace the myriad byproducts of fossil fuel production, or even that they are carbon-based goods. Yet fossil fuels are essential in the manufacture of steel, cement, plastics, and ammonia, which Vaclav Smil calls 'the four pillars of modern civilization,' and thousands more products, including laptops and cell phones. The Zeros may not even realize that wind turbines require both concrete and steel to stay vertical. "
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– Duggan Flanakin, Committee For A Constructive Tomorrow ([link removed])

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Europe's plan to deindustrialize continues apace.

** Bloomberg ([link removed])
(2/24/23) reports: "BASF SE plans to cut 2,600 jobs and reduce production in Germany as Europe’s biggest chemical producer braces itself for a future without cheap Russian gas. The company is closing a number of energy-intensive factories, including two ammonia plants and related fertilizer facilities, resulting in 700 job cuts at its main Ludwigshafen site in Germany. BASF also forecast lower earnings this year and said it will end a stock buyback early because of a deteriorating global economy. The shares fell as much as 7% in Frankfurt, the most since June. Overall, the cuts will reduce BASF’s workforce by about 2% through 2024. They’re some of the biggest yet by a German company amid an energy crisis prompted by Russia’s invasion of Ukraine, and more are set to follow. Chemical maker Lanxess AG has said investments will go to more competitive locations including the US, while foreign manufacturers with operations in the country, including Dow Inc. and Ford Motor Co., have announced
thousands of job reductions. "

Go woke, energy grid gets broke.

** Kingsport ([link removed])
Times-News (2/24/23) editorial: "Will the Tennessee Valley Authority buy into 'woke energy' now that President Biden has stacked the board of directors? According to the Washington Examiner, Biden intends to 'destroy the fossil fuel industry no matter the consequence ... this administration has shuttered pipelines, denied permits, and cut off development bank financing for oil and gas.' To get it done, the administration has turned to 'an alliance of green activists, big business, and woke culture warriors pushing for environmental, social, and governance regulations, with the ultimate goal of using state power to crush and defund companies and individuals that don’t bend the knee to the current regime’s political will.' TVA, the nation’s largest public utility, has been under pressure to cave to Biden’s alleged climate change goals and has announced a new study of 'clean energy adoption opportunities throughout the region’s economy.' Mainly, those are solar and wind, which are reliable
generators of power when it’s sunny and windy, which it always isn’t... However, the Institute for Energy Research says that a 100% renewable energy system is a myth. The notion of energy justice, i.e., equity, affordability, accessibility and participation in the energy system regardless of race, nationality, income or geographic location, seems devoid of logic."

New data has come to light.

** KTRH ([link removed])
(2/24/23) reports: "New data confirms replacing U.S. oil and gas production with foreign supply is actually bad for the environment. Using Yale University's Environmental Performance Index, the Institute for Energy Research found the left's push to green energy forces us to depend on lower environmental standards elsewhere. 'There are other countries that produce as cleanly or more cleanly than we do, but the United States is the number one producer of both oil and natural gas. The next highest producers of oil are Saudi Arabia and Russia, and they're nowhere close,' says Paige Lambermont, co-author of the study. 'It's not only an environmental issues, but it's also an issue in terms of economic and human freedom, and in terms of supporting authoritarian regimes rather than having our own production here at home.' With demand for oil and gas not going away, the question remains why not produce it here? 'What we're here to do is point out what the best decisions to make would be and provide
the numbers to back them up and hope those decisions are eventually made,' says Lambermont. 'But no, it doesn't look like any change in course is on the horizon.'"

If you oppose a carbon tax, take a stand and ** contact us. (mailto:[email protected])

** ([link removed])

Tom Pyle, American Energy Alliance
Myron Ebell, Competitive Enterprise Institute
Phil Kerpen, American Commitment
Andrew Quinlan, Center for Freedom and Prosperity
Grover Norquist, Americans for Tax Reform
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Richard Manning, Americans for Limited Government
Adam Brandon, FreedomWorks
Craig Richardson, E&E Legal
Benjamin Zycher, American Enterprise Institute
Jason Hayes, Mackinac Center
David Williams, Taxpayers Protection Alliance
Paul Gessing, Rio Grande Foundation
Seton Motley, Less Government
Annette Thompson Meeks, Freedom Foundation of Minnesota
Isaac Orr, Center of the American Experiment
David T. Stevenson & Clint Laird, Caesar Rodney Institute
John Droz, Alliance for Wise Energy Decisions
Jim Karahalios, Axe the Carbon Tax
Mark Mathis, Clear Energy Alliance
Jack Ekstrom, PolicyWorks America

Energy Markets


WTI Crude Oil: ↓ $74.88
Natural Gas: ↑ $2.38
Gasoline: ↓ $3.38

Diesel: ↓ $4.45
Heating Oil: ↑ $273.06
Brent Crude Oil: ↓ $81.93
** US Rig Count ([link removed])
: ↓ 823



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