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MORNING ENERGY NEWS | 01/28/2020
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** Why aren't more people falling for the EV scam?
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Car Scoops ([link removed]) (1/25/20) reports: "As more and more electric vehicles hit the market, it would be reasonable to assume that sales of EVs would be rising consistently. However, according to new figures, that’s not the case. The Los Angeles Times reports that while 45 new all-electric and plug-in hybrids debuted in the U.S. last year, just 325,000 EVs and plug-in hybrids were sold across the nation in 2019, a fall of 6.8 percent from the 349,000 of the year prior. Numbers regarding how many EVs were sold in California last year aren’t available quite yet. 'The number of battery-electric models available more than doubled last year, but EV sales didn’t budge much. That’s troubling,' the head of the automotive practice at consulting firm AlixPartners, Mark Wakefield said. A number of factors could explain this. For starters, it seems as though range anxiety remains a serious cause for concern
among consumers. In addition, electric vehicles remain more expensive than their ICE-powered rivals and with some of the government’s generous subsidies ending for many of the market’s best-selling EVs, buyers are feeling the pinch. What’s more, gas prices remain low and stable."
** "In addition to the regressively unfair nature of [a carbon] tax, it also serves as a huge subsidy to what Senator Warren loves to call 'big oil.' The great beneficiaries of complexity and of regulatory cost are the big players, not the smaller companies!"
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–David L. Bahnsen, National Review ([link removed])
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Reminder to Crazy Bernie and Pocahontas, there are more voters than the 'woke' crowd on Twitter.
** New York Times ([link removed])
(1/27/20) reports: "Though they are both Democrats, John Fetterman, Pennsylvania’s lieutenant governor, and Bill Peduto, this city’s mayor, have their differences on the environment. Mr. Fetterman, who toppled an incumbent Democrat in 2018 from the left, nevertheless calls Pennsylvania 'the Saudi Arabia of natural gas' and sees extracting and taxing gas as critical to the state’s economy and the 'union way of life.' Mr. Peduto lobbied unsuccessfully against a local petrochemical plant and is steering his once-struggling steel town to be independent of fossil fuels within 15 years. But they agree on one thing: a pledge to ban all hydraulic fracturing, better known as fracking, could jeopardize any presidential candidate’s chances of winning this most critical of battleground states — and thus the presidency itself...'At the end of the day, if I don’t have a job, if I don’t have health care, if I can’t take care of my family, it doesn’t matter if we have global peace and gun control and
everything else,' said Jeff Nobers, executive director of the Builders Guild of Western Pennsylvania. 'This is one of the most robust economies in the country,' Mr. Nobers added, 'and it’s mostly fueled by, yeah, the gas industry, the burgeoning petrochemical industry, manufacturing. And you have politicians that say, no, we don’t need this because there’s 200 people working for Google in East Liberty,' referring to a shining commercial area of Pittsburgh."
The corn clowns had their day in court, but the fight is far from over.
** Reuters ([link removed])
(1/25/20) reports: "A U.S. appeals court has ruled that the Environmental Protection Agency must reconsider three of the biofuel waivers it recently granted to small oil refineries, arguing the agency’s justification for approving the exemptions was flawed. The decision here from the U.S. Court of Appeals for the 10th Circuit dated Jan. 24 came after a coalition of biofuel industry groups had challenged the 2016 exemptions for Holly Frontier's Woods Cross and Cheyenne refineries, as well as CVR Energy's Wynewood refinery. The biofuel industry has been incensed by a surge in biofuel waivers granted under President Donald Trump’s administration, which it says is hurting farmers by undermining demand for corn-based ethanol...Biofuel groups cheered the decision and said it could raise questions about numerous other waivers granted to small refiners in recent years. The Trump administration has roughly quadrupled here the number of waivers it has handed out to small refiners."
Some pictures are worth a thousand words, this one is worth approximately 162 tons of carbon.
** Daily Mail ([link removed])
(1/25/20) reports: "Prince Charles was last night facing embarrassment after taking a series of private jet flights while lecturing world leaders about climate change. On a trip to the World Economic Forum in Davos last week, the Prince met activist Greta Thunberg and used an electric Jaguar car to travel to the Swiss resort. But the MoS can reveal that in the 11 days before his high-profile appearance, Charles took three flights on private jets for official Government business and one on a helicopter. After his speech last Wednesday, during which he urged world leaders to take ‘bold and imaginative action’ on the environment, he took a fourth jet to Israel for an official trip. "
The Great Leap Forward and the Green New Deal have a lot more in common than Greta admits.
** ([link removed])
Energy Markets
WTI Crude Oil: ↑ $53.47
Natural Gas: ↓ $1.89
Gasoline: ↓ $2.50
Diesel: ↓ $2.96
Heating Oil: ↑ $170.00
Brent Crude Oil: ↑ $59.51
** US Rig Count ([link removed])
: ↓ 816
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