Good morning; here's what the Oilman has for you today:

• Biden Emissions Plan for Power Generators Impossible

• Politicians Freak Out Over “Greenlash”

• Upcoming Oil and Gas Events

• Tweet of the Day

Biden Emissions Plan for Power Generators Impossible

President Biden’s plan to reduce emissions from the power generation sector cannot work.

That’s according to the power generation sector itself.

“Not legally or technically sound”

The plan in question is simple enough.

It aims to slash emissions generated by power plants by employing things like CCS and green hydrogen.

But the industry says that CCS is way too expensive and not that widely available.

They said it more politely, though.

“Electric companies are not confident that the new technologies EPA has designated to serve as the basis for proposed standards for new and existing fossil-based generation will satisfy performance and cost requirements on the timelines that EPA projects.”

That was the statement of the Edison Electric Institute, which also called the measures “not legally or technically sound.”

Or mentally sound, you might add.

The make-it-too-expensive trick

Mandating carbon capture or green hydrogen for power generators would cause a price spike.

That price spike will make wind and solar electricity look cheap.

The administration will say, “See? We told you low-carbon is cheaper!”

Because utilities know this trick very well, they’re rebelling.

Because, for them, these mandates could mean bankruptcy.

And that won’t be good for anyone, including consumers.

Power generators using anything else but wind and solar are already getting squeezed.

It seems that they’re about to squeak and maybe start biting.

Today’s Edition Is Brought To You By ROX Exploration

Invest in the future of energy with ROX Exploration – a family-owned, independent company dedicated to exploring, developing, and producing oil and natural gas assets. ROX's team of experts drills and operates properties throughout Oklahoma.

If you're an accredited investor looking to diversify into direct oil & gas working interest offerings, then connect with ROX Exploration today.

Politicians Freak Out Over “Greenlash”

European and U.S. politicians are freaking out as a wave of anti-transition sentiment rises on both sides of the Atlantic.

With important elections coming next year, the fear is real.

People vote with their pockets

And that’s exactly what’s scaring the transition advocates in political circles.

In Europe, the cost of living has gone through the roof, as have transition investments.

No wonder people are starting to ask questions.

The transition was supposed to lead to “clean and affordable” energy.

But it hasn’t. It has led to questionably clean and expensive energy.

On our side of the Atlantic, conservative states are taking aim at ESG investing.

And they are shooting their target clean.

Remember when BlackRock and JP Morgan assured Texas they have nothing against oil and gas?

We totally don’t discriminate against oil and gas, they said. We like oil and gas.

Whoops. That didn’t make them popular with their activist friends.

The fact remains that people vote with their pockets, and any politician knows it.

What’s next?

Well, in Europe, conservative parties are winning election after election.

Poland is actually suing the EU for its car ban.

Other member states are pretending they don’t know anything about any green agenda.

Here, it’s anyone’s guess who’ll win the 2024 vote.

The important thing is whether the Biden admin and Congress will manage to cement some of the Dems’ transition commitments.

That’s what they have been planning on, so whoever wins in 2024 couldn’t cancel the push to net zero.

Upcoming Oil & Gas Events

• August 13-16: EnerCom Denver, The Westin Denver Downtown Denver

• August 16-17: Petroleum Alliance of Oklahoma Flycatcher Fly Fishing Tournament Beavers Bend, OK

• August 17: 26th Annual PIOGA Divot Diggers Golf Outing and Steak Fry Hermitage PA

• August 20-22: Kansas Independent Oil Association 86th Annual Convention and Expo, Hyatt Regency, Wichita KS

Around the Global Patch

🇺🇸 Logan Energy Corp. releases Q2 2023 financials.
🇨🇳 Chinese yard converts rig for African LNG floating unit.
🇷🇺 Arctic LNG 2: Russia's top Gas producer delivers inaugural train.

Tweet of the Day

Thanks for reading today's Oil Patch!

Stay oily, my friend.

Two quick requests before you go:

• If you found this useful, forward this email to a friend to spread the word. 👇

• Take 1 second to answer the poll below, and please tell us what you think 👇👇