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DAILY ENERGY NEWS | 03/20/2023
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** Germans worried about a centralized, planned economy. What a novel concept!
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Politico ([link removed]) (3/15/23) reports: "Here’s a new bumper sticker idea for European Union officials: Don’t burn fossil fuels, set fire to your principles instead. The European Commission is preparing to ditch a raft of long-held free-market ideals in order to compete in a global clean energy arms race with China and the U.S. Targets, quotas and state subsidies are back, in a big way. That’s left some Brussels grandees reeling. 'This direction is quite dangerous,' said Günther Oettinger, Germany’s former European commissioner. 'It’s not a single market, it’s a planned economy more and more: a centralized, planned economy. Planwirtschaft as we say in German.' On Thursday, the European Commission will propose a Net-Zero Industry Act, setting a target for 40 percent of the EU’s clean tech to be built inside the bloc by 2030. Leaked drafts
have galled liberals, who accused Brussels of 1960s-style central planning."
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** “As the Secretary of the Navy, I can tell you that I have made climate one of my top priorities…Everywhere from Vietnam to Ghana to right here in the Caribbean, we are collaborating on projects, enabling best practices to cross-pollinate.“
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– Carlos Del Toro, Secretary of the Navy ([link removed])
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Patton studied Rommel. Today's leaders study Greta.
** Foreign Policy ([link removed])
(3/16/23) column: "In 1944, when the outcome of World War II hung in the balance, the rapid advance of Allied forces across Europe suddenly stalled due to fuel shortages. In the famous words of then-Gen. George Patton: 'My men can eat their belts, but my tanks have gotta have gas.' Patton’s quote is a testament to the crucial role of supply chains and logistics in military operations. Simply stated, supply chains win wars and save lives. Materials need to be in the right place at the right time. For the United States today, those materials include many more resources than fuel for tanks. A host of so-called critical minerals are essential to building and maintaining modern weapons systems. In today’s globalized world, the United States and other major world powers are alarmingly dependent on other nations—first and foremost China—for these materials. China’s rapid buildup of a sophisticated military has rendered it America’s most consequential strategic competitor and has set the so-called
pacing threat for American defense strategy...Some critical minerals are used for the sonar, radar, and surveillance systems that form the U.S. military’s first line of defense. Neodymium and samarium are used for powerful magnets that can withstand high temperatures. Germanium is used for infrared devices and in solar panels on military satellites. Niobium is used in the superalloys that jet engines are made from, and holmium is needed for solid state lasers. Although some of these minerals can and are sourced by ally-shoring, other minerals and intermediate products are sourced primarily from China."
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Sorry European industrial gas users, but no gas for you!
** Bloomberg ([link removed])
(3/20/23) reports: "The European Union proposed extending its target of reducing gas demand by 15% through next winter as it adjusts to lower Russian supplies. The measure, set up last year at the height of the energy crisis, is due to expire at the end of the month. The European Commission, the bloc’s executive arm, on Monday put forth the extension, which has broad support among the EU’s 27 member states. It still needs formal approval by the bloc’s energy ministers, who are scheduled to meet next week. European nations are preparing to refill gas storage sites after Russia halted most supplies in the fallout of its war in Ukraine. The region has relied on liquefied natural gas imports and lower demand to help fill the gap. Still, officials remain vigilant as the global market is tight, EU Energy Commissioner Kadri Simson said on Twitter. The International Energy Agency last month flagged the risk of a European gas shortage this year if Moscow were to fully cut off supplies."
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Wait, you mean home charging isn't free, like solar and wind?
** Business Insider ([link removed])
(3/16/23) reports: "Expensive electricity rates are making home charging a headache. Home charging has long been thought of as a solution to range anxiety. EV owners need to learn more about cost-saving options for home charging. Eggs, gas, and now electric vehicles. Inflation is hitting electricity rates, making EV home charging a more miserable experience for some drivers at the absolute worst time. A new J.D. Power study of EV owners who use Level 2 home-charging stations found that overall satisfaction in the home charging experiences has declined 12 points since last year. (More on EV charger types here). A major factor in this decline in satisfaction was the inflationary rise in electricity prices, the study found. This could pose a real problem for the EV market, as home charging has often been held up as a solution to daily range-anxiety issues. Without a robust public charging infrastructure, daily home charging is currently key to effective EV ownership, according to automotive
executives, dealers, and analysts."
Energy Markets
WTI Crude Oil: ↓ $65.68
Natural Gas: ↓ $2.28
Gasoline: ↓ $3.44
Diesel: ↓ $4.28
Heating Oil: ↑ $269.17
Brent Crude Oil: ↓ $72.09
** US Rig Count ([link removed])
: ↓ 840
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