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DAILY ENERGY NEWS | 07/01/2024
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** America has unbelievable energy potential ([link removed]) waiting to be unlocked.
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Grand Forks Herald ([link removed]) (6/29/24) column: "North Dakota Gov. Doug Burgum has remained atop former President Donald Trump's short list for potential vice-presidential running mates for months. It's fair to say that it won't be a surprise if he's the guy. I can't help but think how great it would be for North Dakota. Here are just a few examples: Burgum would be a tireless advocate for our agriculture and energy industries, two sectors of our economy that have been victims of the Biden administration's extremist climate agenda....And allow me to float an idea that could literally eliminate our immoral national debt of $35 trillion. According to the Institute for Energy Research the U.S. government 'owns an enormously large mineral estate' (oil, natural gas, and coal resources) that has an estimated total worth to the economy of over $150 trillion. These resources could be leased under the right
government policies to earn the state and national government royalties, rents and bonus payments that CBO conservatively estimates could total almost $150 billion over 10 years for the oil and gas leases alone...Let that sink in. So much of our federal lands, assets owned by we the people, are off-limits to energy production. Imagine if we deployed the same horizontal drilling technology pioneered in the Bakken all across federal lands."
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** "If Biden truly thought that climate change was an existential threat, he would try to lower global emissions through greater U.S. exports of natural gas."
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– Diana Furchtgott-Roth, The Heritage Foundation ([link removed])

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Jim Farley, CEO of Ford, announces career change on X. He wants to follow in his cousin's footsteps and become a comedian.

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If Secretary Jenny just hangs out with a few more actors and activists, maybe she can deliver that "carbon free" future we so desperately need.

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Governor Gavin doesn't care your town is imploding as long as he can snag a good headline from a friendly paper.

** CNA ([link removed])
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(6/26/24) reports: "The small town of Taft in the United States faces a paradox: It is struggling due to California’s strict oil drilling regulations, but oil demand worldwide hit a peak last year. Since 2015, Taft has lost more than a quarter of its population. Almost a third live below the poverty line – more than double the national average. California is the seventh-biggest oil producer among US states, with a huge presence of oil and gas companies. But as the state seeks to become less dependent on fossil fuel, oil regions there have been left with an uncertain future...The state’s governor Gavin Newsom, a Democrat with presidential ambition, wants to phase out oil drilling completely by 2045. New drilling permits have steadily declined since Newsom took office in 2019. California has made such permits harder to come by, among other restrictions, leading to a decades-long decline in oil production. The move has hit the economy hard, especially in towns like Taft. Lisa Fearon, a
lifelong Taft resident, told CNA: 'I was born and raised here and in the 80s, it was booming. I mean, you made the money, and now, you could barely ever see any work rigs or anything. So, yeah, it has declined a lot.' Taft’s mayor Dave Noerr said that production of oil and gas should only stop when the world does not require such commodities any longer."

Energy Markets


WTI Crude Oil: ↑ $82.00
Natural Gas: ↓ $2.52
Gasoline: ↑ $3.49

Diesel: ↓ $3.80
Heating Oil: ↑ $256.61
Brent Crude Oil: ↑ $85.47
** US Rig Count ([link removed])
: ↑ 623



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