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DAILY ENERGY NEWS | 03/10/2023
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** Why does the Biden Admin want America's energy produced overseas? Gov. Mike Dunleavy weighs in on the latest episode of The Unregulated Podcast. Now streaming on our website ([link removed]) , or wherever you listen.
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** "Berlin still plans to ban coal by 2030. Maybe before that day arrives politicians in Berlin will catch up to what the market already knows: Fossil fuels remain indispensable for powering modern economies."
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– Wall Street Journal Editorial Board ([link removed])

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This whole switch to EVs isn’t going so well. Wonder what that's all about?

** CNBC ([link removed])
(3/9/23) reports: " General Motors will offer voluntary buyouts to a 'majority' of its 58,000 U.S. white-collar employees, as it aims to cut $2 billion in structural costs over the next two years, according to a letter sent to workers Thursday from CEO Mary Barra. The 'Voluntary Separation Program,' or VSP, will be offered to all U.S. salaried employees who have spent five or more years at the company as of June 30. Outside of the U.S., the automaker will offer buyouts to executives with at least two years of time at the company. GM expects to take a pretax charge of up to $1.5 billion related to the buyouts, according to a public filing Thursday. The majority of the charges are expected to be all-cash and occur during the first half of the year, the company said. Barra, in the letter Thursday, said the program is 'designed to accelerate attrition in the U.S.,' assisting the company in potentially avoiding “involuntary actions” in the future. The buyout offer comes after the Detroit
automaker said last week it would terminate about 500 salaried positions globally."

EV owners are less happy than ICE owners. No kidding? Have you seen their smug license plates on their EVs?

** Forbes ([link removed])
(3/9/23) reports: "In the long run, it’s supposed to be cheaper and easier to service battery powered electric vehicles, vs. cars and trucks with internal-combustion engines, but in the short run, BEVs drag down the average for customer satisfaction in the latest J.D. Power Customer Service Index, published on March 9. In the survey, EV owners report their vehicles were more likely to be recalled than ICE vehicles, and that was a big reason for lower marks, said Chris Sutton, vice president of automotive retail at J.D. Power. 'EV satisfaction is concerning,' if it doesn’t improve in the next couple of years, Sutton said in a phone interview. On average, customer service satisfaction among owners of EVs is 42 points lower than owners of ICE vehicles, at 806 vs. 848 respectively, according to the survey."

Oh no! Shell continues to provide people with energy instead of meeting non-energy targets.

** Bloomberg ([link removed])
(3/9/23) reports: "Shell Plc can no longer depend on divestments to keep up a steady pace of annual CO2 reductions, putting some of its climate targets at risk of not being met. The London-based oil major recorded a 10% drop in planet-warming emissions across its business and the energy it sold last year as it continued to sell off carbon-intensive assets. But future cuts won’t be able to rely on divestments as new Chief Executive Officer Wael Sawan focuses on delivering value for shareholders and sees the company’s core business in oil and natural gas as key to drive returns. Shell has a target to halve emissions from its business, known as Scope 1 and 2, by 2030 compared to 2016 levels. So far, the company has achieved about a 30% drop. But now those emissions will start to climb again if it increases fossil fuel spending without scaling up new tools to cut carbon. The company expects 'new investments across our portfolio will increase our Scope 1 and 2 emissions between 2023 and 2030 and
that they will exceed reductions associated with planned divestments and natural decline,' it wrote in an annual report published Thursday."

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: ↑ $76.02
Natural Gas: ↓ $2.50
Gasoline: ↑ $3.47

Diesel: ↓ $4.36
Heating Oil: ↑ $272.93
Brent Crude Oil: ↑ $82.04
** US Rig Count ([link removed])
: ↓ 828



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