Special K is here to stay

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DAILY ENERGY NEWS | 03/03/2023

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The gift that keeps on giving has agreed to provide another season of soundbites for the opposition.

The Hill (2/26/23) reports: "John Kerry, the U.S. special presidential envoy for climate, said in a new interview with The Boston Globe that he told President Biden that he will serve in his role through at least the United Nations climate summit in November. 'There’s sufficient unfinished business that I felt it would be inappropriate to walk away from that at this point in time,' he told the newspaper. The climate summit, named COP28, will be held in Dubai later this year. Kerry, a former secretary of state and senator, said he hopes to promote new technologies and more funding to accelerate addressing climate change. 'We absolutely understand the road ahead and what we need to do, and I think we can make this COP even more important in terms of eliciting increased ambition,' he said. 'This has a chance of kicking everybody in the rear end and pushing this process into higher gear, which is where it needs to go.' 'My main objective is to raise the ante at this COP, so we are coming out of there with a head of steam on emissions reduction and finance,' Kerry added. 'There are things that are riper, more compelling, more obvious, more necessary, more urgent.'"

"The myopic pursuit of cheap renewable energy sources is clearly more important to the administration than preventing American taxpayer dollars from going to China."

– Victoria Coates,
The Heritage Foundation

Cutting oil and gas production is not healthy. I couldn't have said it better myself.

Reuters (3/3/23) reports: "Shell is reviewing its current plan to reduce oil output by 1% to 2% per year by 2030, Chief Executive Officer Wael Sawan told the Times, against the backdrop of rival BP recently rowing back from hydrocarbon output reduction aims. Sawan took office at the start of the year with a vow to boost Shell's performance and review its operations, while backing his predecessor Ben van Beurden's strategy to shift the company towards low-carbon energy. 'We're reflecting on what is the right guidance to the market,' Sawan told the Times in an article published on Friday. 'I am of a firm view that the world will need oil and gas for a long time to come. As such, cutting oil and gas production is not healthy.' Shell expects its oil and gas output to reach between around 1.8 million and 2 million barrels of oil equivalent per day this quarter."

You don't need peer-reviewed research to see where state control of electricity markets takes a society. Just look at South Africa, an experiment playing out in real time.

Cowboy State Daily (3/2/23) reports: "The coal industry is preparing for an onslaught of new EPA regulations over the next several months likely to speed up retirement of coal-fired generation plants. The rules include what’s called the 'Good Neighbor' provision, which would require upwind states to ensure that their air pollution doesn’t impact downwind states’ ability to meet air quality standards. Researchers say that coming into compliance with the regulations would likely be uneconomical for many coal power plants...Dan Kish, senior fellow with the Institute of Energy Research, a nonprofit doing research on government regulation and global energy markets, told Cowboy State Daily that the federal agencies that should be alarmed at the studies showing increasing grid instability are just ignoring the danger. 'They’ve all drunk the Kool Aid, and they just keep taking us down this road,' Kish said. Kish said these newest regulations are part of a strategy that seeks to place expensive rules over every aspect of a coal-fired power plant’s operations. 'It’s death by a thousand cuts. And meanwhile, China is building two plants every week, which is going to bury any kind of emissions reductions we have here in the United States,' Kish said."

They want lower prices and lower production. A lower IQ proposition.

Washington Examiner (3/3/23) reports: "A Democratic senator who has vowed to "hold Big Oil accountable" through increased taxes is fundraising alongside a campaign donor who has consulted for companies majorly reliant on fossil fuels, records show. Sen. Tammy Baldwin (D-WI) helped put forth legislation in February called the Big Oil Windfall Profits Tax Act, which would impose major taxes on oil giants such as Chevron and Exxon Mobil. At the same time, however, the Climate Solutions Caucus member is raising cash on Saturday and Sunday with the help of Bryan Hlavinka, a donor to her campaign and freelance consultant for offshore operators who has long overseen oil- and gas-related projects, according to records reviewed by the Washington Examiner...'The hypocrisy and demagoguery of this is amazing,' Daniel Kish, senior policy vice president for the Institute for Energy Research, a pro-fossil-fuels group, told the Washington Examiner. 'Everything Tammy Baldwin has been doing in her career has been making it harder to produce oil, making prices go up.' Kish added: 'If she wanted oil prices to come down, she would be pushing for more pipelines or more refineries for oil and gas drilling. On one hand, she's saying "we're going to tax you at a higher rate," and, by the way, "please come to my fundraiser.'""

If you oppose a carbon tax, take a stand and contact us.

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: ↑ $78.52
Natural Gas: ↑ $2.83
Gasoline: ↑ $3.39

Diesel: ↓ $4.38
Heating Oil: ↑ $288.05
Brent Crude Oil: ↑ $288.05
US Rig Count: ↓ 821

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