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DAILY ENERGY NEWS | 02/22/2024
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** You have to hand it to the Greens. They won't ever let you feel good about yourself.
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Wall Street Journal ([link removed]) (2/21/24) reports: "Climate activists are questioning how environmentally friendly hybrid vehicles are as those cars rise in popularity. The battle over the green bona fides of hybrids comes ahead of what could be the toughest U.S. restrictions on car pollution. Hybrids combine a gasoline engine with battery power and generally get far better gas mileage than the cars and trucks Americans have typically driven. Hybrid makers led by Toyota Motor argue that the vehicles’ popularity is something to celebrate and 'an important solution toward achieving carbon neutrality,' Toyota executive Yoichi Miyazaki said. Those on the other side of the debate, including activists and some regulators, say hybrids aren’t good enough if the world hopes to meet ambitious carbon-reduction targets...The marketing debate is a skirmish ahead of an
Environmental Protection Agency decision, due this spring, on proposed restrictions. As proposed last year, the new standards would require average fleet emissions to be cut by 56% by 2032 compared with 2026 model-year requirements. A group representing carmakers including Toyota, Honda Motor and Ford is lobbying against the rules. Automakers forecast they would have to sell 67% electric vehicles by 2032 to meet the standards. The companies say the rules would force them to pivot away too quickly from hybrids and other gasoline-powered cars and result in consumers purchasing more costly vehicles. The EPA’s 'draconian EV mandate' would actually be bad for the environment, said Stephen Ciccone, Toyota’s North America head of government affairs, in a message to U.S. dealers."
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** "We want to help alert people and policymakers about the dangers facing our electric grid and the importance of what Chris Keefer calls our 'civilizational life support system.'"
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– Robert Bryce, Substack ([link removed])
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The farmers are correct, but they don't seem to understand that putting them out of business is the goal, not a side effect.
** Reuters ([link removed])
(2/21/24) reports: "Denmark's farmers on Wednesday voiced concerns that plans to levy a carbon emission tax on farming as part of efforts to meet Denmark's ambitious climate goals would force them to reduce production and close farms. Denmark, a major pork and dairy exporter, could become the first country in the world to levy an emissions tax on farming, a move that has broad political backing in the country, after New Zealand last year pushed back such a tax to the end of 2025. A carbon tax on farmers could help Denmark achieve its legally-binding 2030 target of cutting greenhouse gas emissions by 70% from 1990 levels. But such a measure would also mean higher costs for farmers and as a consequence reduce production by as much as one-fifth, a government-commissioned group said in a report on Wednesday. A tax of 750 Danish crowns ($109) per million tons of carbon dioxide (CO2) emitted would have the biggest impact. The group also considered lower taxes of 375 crowns and 125 crowns...More
than half of Denmark's land is farmed, with agriculture accounting for about a third of the country's carbon emissions, according to Danish climate think tank Concito. The agriculture sector has become a political battleground as the European Union strives to meet its net zero emissions target by 2050. Farmers across the bloc have been protesting for weeks, saying they are facing rising costs and taxes, red tape, and excessive environmental rules."
However much you dislike Big Green, Inc. propagandists, it isn't enough.
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Dead on arrival.
** Motor Finance Online ([link removed])
(2/6/24) reports: "British EV manufacturer Arrival has entered administration, jeopardising 170 jobs, just three years after achieving a valuation exceeding $15 billion. The company, with two manufacturing sites in Oxfordshire, appointed EY as administrator following its failure to launch its inaugural electric van. Last week, trading of Arrival’s shares was suspended on New York’s Nasdaq stock exchange, accompanied by a notification of its removal due to non-compliance with listing standards and failure to file 2022 accounts. EY administrators cited Arrival’s liquidity challenges, attributing them to difficult market conditions and macroeconomic factors causing delays in product launches. The administrators are now exploring options for selling the company’s business and assets, including electric vehicle platforms, software, intellectual property, and R&D assets, for the benefit of creditors. Founded in 2014 in west London by Denis Sverdlov, a Russian telecoms billionaire, Arrival
invested significantly in robot-heavy factories in Banbury and Bicester. Originally planning to launch a bus, car, and European van, the company later shifted focus to the US van market after cutting 800 UK jobs."
Energy Markets
WTI Crude Oil: ↑ $78.08
Natural Gas: ↓ $1.68
Gasoline: ↑ $2.27
Diesel: ↑ $4.09
Heating Oil: ↑ $272.36
Brent Crude Oil: ↑ $83.50
** US Rig Count ([link removed])
: ↓ 657
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