Gaslighting again

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DAILY ENERGY NEWS | 03/02/2023

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Do you still have any doubts that Team Biden is coming for your gas stove?

Bloomberg (3/1/23) reports: "The US Consumer Product Safety Commission has voted to seek public input on gas stoves, a potential first step in regulating the appliances. Richard Trumka Jr., a CPSC commissioner, was faced with outrage when he floated the idea of a ban in January as Republican lawmakers and other conservatives painted a picture of overreach by Democrats and introduced preemptive measures on gas stove bans. Within days, the head of the commission clarified that the agency had no plans to halt their use, and the White House issued a statement that said the president didn’t support banning the ranges either. The agency voted 3—1 to approve a request for information on the health hazards of gas stove emissions and the potential solutions to those hazards, Trumka spokeswoman Meghan Sebold said Wednesday. While the call for comments doesn’t necessarily trigger a regulation, it could form the basis for future rules governing the household appliances. 'Today marks an important milestone on the road to protecting consumers from potential hidden hazards in their homes - the emissions from gas stoves,' Trumka said in a statement. 'This request for information furthers our commitment to American consumers because step one in confronting a potential hazard is understanding its scope and the options for addressing it.'"

"In short, there is no free ride, no magic source of energy, to power an industrial economy."

– Scott Semet, The National Interest

You tak-a my car, I break-a you face.

Reuters (2/28/23) reports: "Italy intends to vote against European plans to outlaw the sale of new petrol and diesel cars in 12 years, Energy Minister Gilberto Pichetto Fratin said on Tuesday. Rules approved this month by the European Parliament will require that by 2035 carmakers must achieve a 100% cut in CO2 emissions from new cars sold, which would make it impossible to sell new fossil fuel-powered vehicles in the 27-country bloc. 'Tomorrow in Brussels, at the meeting of ambassadors of EU countries, Italy will express a position against the proposed European regulation banning the production and sale of cars and vans with internal combustion engines by 2035,' the minister said in a statement. EU countries agreed the deal on banning thermal engine cars in October, but still need to formally rubber stamp the rules before they can take effect. Final approval is expected in March."

This industry is sitting on 9000 leases! What about those 9,000 leases? Blah, blah, blah...

Energy In Depth (2/28/23) article: "After the Biden administration claimed for months that the oil and gas industry was sitting on 9,000 unused permits to drill – and consequently, holding back domestic production – Politico reported that the “9,000 permits” figure is based on faulty data. Allegedly, the discrepancy was caused by issues with the Department of Interior’s record keeping, and the figure stands closer to 6,600 unused permits as of this month. Ironically, the “9,000 unused permits” claim has been the backbone of the administration’s mixed messages towards the American energy industry for more than six months. On March 8th, 2022, when the administration announced it was banning imports of Russian energy products, President Biden claimed the American oil and natural gas industry wasn’t doing as much as it could to increase domestic supply...But this statistic is still misleading, regardless of the number of approved permits to drill. The Biden administration leads the media and citizens to believe that because there are outstanding permits, the industry is simply choosing to not produce more energy. However, there are a variety of factors that determine if a well is both economical and feasible for production within a short time frame. In order to bring oil to market, it can take months, or years, depending on the well’s reserves, existing infrastructure, and permitting hurdles. In many of the locations where there are unused approved permits to drill, there is either little or no pipeline infrastructure, unproven reserves, or local permits are held up in litigation. Domestic oil and natural gas producers are not sitting on permits and requesting more permits without reason; they understand where drilling in the short- and medium-term is possible and scalable. Bottom line: The '9,000 permits' line has been the centerpiece of the Biden administration’s mixed messages towards the energy industry, and the fact that claim has been incorrect all this time is further evidence of the importance of working with the American oil and natural gas industry to address a historic energy crisis."

Quick, somebody call Special K. He's the only one we can trust to get the job done.

CNN (2/27/23) reports: "China is surging ahead with coal, a new report shows, rapidly approving and building new power plants despite its own promises to cut back on carbon as the world plunges ever deeper into the climate crisis. Last year, the country approved the highest number of new coal-fired power plants since 2015, according to the report, released Monday by the Center for Research on Energy and Clean Air (CREA) and the Global Energy Monitor (GEM). 'China continues to be the glaring exception to the ongoing global decline in coal plant development,' said Flora Champenois, a research analyst at GEM...China’s emissions are more than double those of the United States, and though the country’s leaders have previously vowed to cut back on carbon, its reliance on coal poses a significant challenge."

Energy Markets

WTI Crude Oil: ↑ $78.07
Natural Gas: ↑ $2.86
Gasoline: ↑ $3.37

Diesel: ↓ $4.39
Heating Oil: ↑ $290.02
Brent Crude Oil: ↑ $84.64
US Rig Count: ↑ 847

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