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DAILY ENERGY NEWS | 02/27/2023

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There was a time no so long ago when these announcements were few and far between. Then governments started telling us what types of energy we can use.

Washington Examiner (2/27/23) reports: "The nation's largest grid operator is warning it may face a major coming shortfall in electric generating capacity as utilities retire more and more traditional fossil fuel power plants. It's a challenge facing grid operators across the country as power generators mothball coal and natural gas-fired plants for various reasons, such as reducing high maintenance and regulatory compliance costs or cutting greenhouse gas emissions.

"The warnings keep coming that the force-fed energy transition to renewable fuels is destabilizing the U.S. electric grid, but is anyone in government paying attention? Another S.O.S. came Friday in an ominous report from PJM Interconnection, one of the nation’s largest grid operators. The PJM report forecasts power supply and demand through 2030 across the 13 eastern states in its territory covering 65 million people. Its top-line conclusion: Fossil-fuel power plants are retiring much faster than renewable sources are getting developed, which could lead to energy 'imbalances.'"

– Wall Street Journal Editorial Board

Those batteries are going to get mighty expensive.

Mining.com (2/26/23) reports: "China’s central government has sent a working group to probe illegal mining in the country’s lithium hub Yichun, financial news outlet Yicai reported on Sunday... One lithium analyst, who declined to be named, told Yicai that the industry optimistically estimates that the shutdown will last for about a month. Yichun currently produces between 10,000 tons and 12,000 tons of lithium carbonate per month, it reported. 'If production is suspended for a month, the affected scale may account for about 10% of the global market,' the analyst said."

Rewiring America should be renamed Fleecing America.

Yahoo News (2/26/23) reports: "The founders of Rewiring America, an environmental advocacy dark money group behind the push to regulate and ban natural gas-powered stoves, have a significant financial stake in the green energy push. Alex Laskey, Saul Griffith and Ari Matusiak – who together founded Rewiring America in 2020 – have all pursued various wind, solar, electrification and energy efficiency ventures, some of which have netted them millions of dollars in buyouts or received significant federal funding. The three co-founders have simultaneously advocated for policies benefiting those ventures through the nonprofit. 'It's a shocking amount of money that they're hauling in with this scheme of theirs,' Tom Pyle, the president of the Institute for Energy Research, told Fox News Digital in an interview. 'I call it Big Green Inc. It is literally a business for these guys and they cloak themselves in the mantra of trying to save the planet. But, really, this is just very sophisticated self-dealing.'"

Still think Biden doesn't want to take away your gas stove?

Epoch Times (2/27/23) reports: "An efficiency proposal by the Department of Energy (DOE) would block half of current gas cooking appliances from the U.S. market, an analysis by the federal agency shows. The DOE proposed a maximum annual gas consumption of 1,204 thousand British thermal units (kBtu), also known as the EL 2 standard, for all gas cooking tops. If that rule is finalized, only half of those appliances that are currently on the market would be able to meet the new standard."

Energy Markets

WTI Crude Oil: ↓ $75.82
Natural Gas: ↑ $2.67
Gasoline: ↓ $3.37

Diesel: ↓ $4.41
Heating Oil: ↑ $282.43
Brent Crude Oil: ↓ $82.43
US Rig Count: ↑ 816

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