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DAILY ENERGY NEWS | 03/08/2023

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Never one to mince words, Steve says what we're all thinking.

Fox News (3/7/23) column: "For at least the last 20 years, politicians in Washington, at the behest of green energy groups, have spent some $100 billion of taxpayer money to fight climate change and reduce greenhouse gas emissions. How is that going for us so far? A recent Associated Press story, based on the latest data on global carbon emissions, provides a pretty accurate report card: 'Carbon Dioxide Emissions Reached a Record High in 2022.' The article tells us: 'Communities around the world emitted more carbon dioxide in 2022 than in any other year on records dating to 1900, a result of air travel rebounding from the pandemic and more cities turning to coal as a low-cost source of power. Emissions of the climate-warming gas that were caused by energy production grew 0.9% to reach 36.8 gigatons in 2022, the International Energy Agency reported Thursday. (The mass of one gigaton is equivalent to about 10,000 fully loaded aircraft carriers, according to NASA.)' You've got to almost shriek out loud when you read this line: 'Thursday's (IEA) report was described as disconcerting by climate scientists.' 'Disconcerting'? That's putting it lightly. We are the furthest thing from being climate change alarmists, but when you spend $100 billion of taxpayer money and achieve absolutely nothing, President Joe Biden and his green allies should be arrested for criminal fraud."

"There's a singular event that threatens to define the century—for every country, on every content—and that's the climate crisis."

– Secretary Jennifer Granholm

Chinese company says the U.S. should rely on China and not domestic energy sources.

Bloomberg (2/1/23) reports: "The US should scrap decade-old import tariffs on solar power equipment after years of protectionism has failed to boost its domestic manufacturing base, according to the chairman of a top Chinese clean energy firm. Easing such measures will allow more technology sharing, and will also help the US speed up its shift away from fossil fuels, Tongwei Group chairman Liu Hanyuan said in an interview on Wednesday. 'We hope US politicians can be at peace with opening the market,' Liu said in Beijing on the sidelines of China’s annual legislative meeting, the National People’s Congress. Read more: US Clean Power Installations Slip 16% in 2022 Despite Biden Push Trade disputes over clean energy have existed for more than a decade. The US slapped anti-dumping duties on Chinese solar panels in 2012, and Beijing responded with tariffs on US and South Korean polysilicon the following year."

Coal: it keeps the lights on.

Somehow I don't think it will be Gates and Bezos eating the bugs...

Real Clear Energy (3/6/23) article: "What are Bill Gates’, Jeff Bezos’, and Jack Ma’s new year’s resolutions? To reduce global warming by curbing cow burps. Last month, three of the richest men alive joined investors to raise $12 million for Rumin8, an Australian startup that is shaking up cattle diets using supplements that reduce their methane emissions. Yet with the recent exponential increase in greenwashing, until Rumin8’s products are proven to be effective at a commercial scale, celebration would be premature. Tackling climate change at the source is imperative. Livestock emissions account for approximately 14.5 percent of total global greenhouse gas emissions. Cattle are the biggest contributors, due to their digestion system releasing methane, a global warming gas 80 times more potent than carbon dioxide. Each cow produces 250-500 litres of methane daily— that’s on top of the emissions produced from the feed and land clearing necessary to maintain cattle...Here’s the problem: According to the United Nations Food and Agricultural Organisation, there are 1.4 billion cattle globally. By 2030, Rumin8 aims to decarbonise only 100 million cattle. That would lead to a reduction of 200 million metric tonnes a year of CO2 equivalent — only 0.4% of human-caused greenhouse gas emissions. While this might help Australia meet its planned reductions, it will be but a token drop for the rest of the world. "

Energy Markets

WTI Crude Oil: ↓ $76.44
Natural Gas: ↓ $2.61
Gasoline: ↑ $3.44

Diesel: ↑ $3.37
Heating Oil: ↓ $275.93
Brent Crude Oil: ↓ $82.39
US Rig Count: ↓ 824

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