Morning Energy News

1/24/2014

"Under my plan, firewood prices will necessarily skyrocket."

CBS Boston (1/21/14) reports: “Janine Richardson couldn’t believe it when she and her husband went to bring in some firewood to heat their home and it was all gone. ‘We don’t use oil at all,’ said Richardson. ‘We heat by wood solely so it was cold, it was cold that night, luckily we had little scraps around so we burnt that for the night.’ Police in Candia New Hampshire says it’s happened at least twice this month. Heavy piles of firewood have been stolen from people’s property. ‘I haven’t seen that in this area,’ said Candia Police Chief Mike McGillen. ‘I can’t recall having many investigations like this.’ A cord of wood can be worth up to $250, and police are not sure if the wood is being stolen by people who want to sell it, or if they need the wood to keep warm”

Bright Bulb Award:

“Even though the 2007 ethanol legislation had good intentions, its intended beneficial aspects—on gasoline prices, CO2 emissions, and oil security—have been minimal. The unintended consequences on world food prices have been large and perverse…. The wisest course of action is to completely dismantle the mandates and their corresponding regulatory burdens.”-- Professor James M. Griffin, Mosbacher Institute

We thought that this was going to be an article about fellow traveler businesses. But Coral threw us a curve. It is really about Doug Holtz-Eakin peddling the carbon tax.

The New York Times (1/23/14) reports: “The bottom line is that the policies will increase the cost of carbon and electricity,” said Roger Bezdek, an economist who produced a report for the coal lobby that was released this week. “Even the most conservative estimates peg the social benefit of carbon-based fuels as 50 times greater than its supposed social cost.” Some tycoons are no longer listening. At the Swiss resort of Davos, corporate leaders and politicians gathered for the annual four-day World Economic Forum will devote all of Friday to panels and talks on the threat of climate change. The emphasis will be less about saving polar bears and more about promoting economic self-interest."

We don’t blame Gina for changing seats. We like to pop our headphones on and ignore any lingering scandals while flying, too. 

The Washington Examiner (1/22/14) reports: “A source on the Tuesday flight heading to Frankfurt, Germany, said McCarthy was seated when Rep. Darrell Issa, chairman of the House Oversight and Government Reform Committee, arrived onboard and took his seat next to her. After a quick hello, Issa got up. But when he returned, McCarthy was gone. Another EPA official was in her seat. They certainly had a lot to talk about had she stayed in the seat next to the Republican watchdog. His committee has subpoenaed McCarthy for emails from former EPA Administrator Lisa Jackson's alias email account. Some of those emails were to McCarthy. And on Wednesday, the committee released a deposition from a supposed EPA “secret agent” who detailed many interactions with, his boss, McCarthy. The ‘agent,’ John C. Beale was sentenced last for taking nearly $900,000 from the Environmental Protection Agency. At EPA, he claimed he took extended time off because he worked for the CIA.”

Someday I will be get over “conservatives” who think that some tax swap is 1.) feasible and 2.) not actually going to cause serious damage. 

US News (1/23/14) reports: “Economists of all political stripes agree on these points. In a 2011 poll of leading academic economists representing a variety of demographic backgrounds and political views, 90 percent agreed with the statement: ‘A tax on the carbon content of fuels would be a less expensive way to reduce carbon-dioxide emissions than would a collection of policies such as 'corporate average fuel economy' requirements for automobiles.’ There's no doubt that economic advisers offer similar advice when policy makers consider regulations like the vacuum cleaner ban. Unfortunately, these misguided policies often turn out to be more politically feasible than a carbon tax. That may change going forward, however. As policy makers look to trim budgets and find additional sources of revenue, a carbon tax could represent a good compromise between conservatives and liberals – a way to address climate change while protecting consumer freedom and raising revenue that can be used to lower other taxes.”

Fuel mandates on cars kill people and cost money. Questions?

The Wall Street Journal (1/22/14) reports: “On the floor of the 2014 Detroit Auto Show, which is open to the public until Jan. 26, there is ample evidence that the regulations are starting to bite. Detroit temperatures have hovered in the single digits after hitting a record low, minus-14 degrees, in the first week of January—temperatures consistent with a planet that hasn't warmed in more than a decade. Yet the gods of global warming must be satisfied, and the sacrifices to the EPA's climate ideology come with a big price. While auto makers are once again parading cars and trucks their customers want to own, company strategies are nevertheless being driven by government fuel-economy rules. Behind the glitzy displays, gorgeous vehicle introductions and relief that vehicle sales are almost back to 2007 prerecession levels, there is worry about the costs the fuel-efficiency rules impose.”

Oh, no one knows what goes on behind closed doors.

Fox News (1/22/14) reports "EELI senior legal fellow Chris Horner told Fox News that as a government agency, EPA couldn't be seen as overtly trying to kill Keystone, but was reaching out to environmental groups for other ideas on how to do it. "On its face," Horner told Fox News, "it smacks of classic secret dealing and an uncomfortably close working relationship and one that is known to these parties, but quite plainly not advertised to the public." Barrasso was less diplomatic. "Despite the fact that Keystone XL has bipartisan support in Congress and from governors, environmental extremists inside and out of the administration are working behind closed doors to kill it," he said."

Can we please just get back to yelling about the sky falling?

Rare (1/23/14) reports: “In lieu of the intense winter storms that have been hitting the northeastern U.S., the hosts of MSNBC’s The Cycle took the time to reminisce about their favorite snow day memories. That is until former hip hop guru Toure had to come in and ruin all the fun.”

The crew is still very much opposed to a carbon tax. I bet Doug Holz-Eakin will not be joining our ranks. But you can. Just contacting us at nocarbontax@energydc.org.

Tom Pyle, American Energy Alliance
Myron Ebell, Freedom Action
Phil Kerpen, American Commitment
William O’Keefe, George C. Marshall Institute
Lawson Bader, Competitive Enterprise Institute
Andrew Quinlan, Center for Freedom and Prosperity
Tim Phillips, Americans for Prosperity
Joe Bast, Heartland Institute
David Ridenour, National Center for Public Policy Research
Michael Needham, Heritage Action for America
Tom Schatz, Citizens Against Government Waste
Grover Norquist, Americans for Tax Reform
Sabrina Schaeffer, Independent Women's Forum
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Bill Wilson, Americans for Limited Government
Wayne Brough, FreedomWorks
Rich Collins, Positive Growth Alliance
Craig Richardson, E&E Legal
The Honorable George Allen, American Energy Freedom Center
Dick Patten, Family Business Defense Council
James L. Martin, 60 Plus Association

Energy Prices

WTI Crude Oil: ↑ $97.39
Natural Gas: ↑ $4.94
Gasoline: ↓ $3.29
E85: ↑ $3.70**
Diesel:  $3.86
Heating Oil: ↑ $309.11
Brent Crude Oil: ↓ $107.32


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**E85 MPG/BTU adjusted price
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