North to the Future

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DAILY ENERGY NEWS | 12/18/2024

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Apparently the Biden Administration only cares about Native American voices when it suits them. No wonder the only community that exists within ANWR voted over 75% in favor of President Trump.

Just The News (12/11/24) reports: "With President Joe Biden heading out the door and looking to secure his climate legacy before GOP President-elect Donald Trump takes office, the Bureau of Land Management this week offered the fewest possible acres in a mandatory oil-and-gas lease sale in Alaska’s Arctic National Wildlife Refuge. It was the latest and perhaps the last in a string of decisions the Biden administration has made in its efforts to limit oil, gas and mineral development on public lands, including those in Alaska. In March 2023, the BLM limited 13 million acres in the National Petroleum Reserve-Alaska to oil and gas drilling, while blocking drilling on 2.8 million acres of Beaufort Sea. In September 2023, the Biden administration canceled seven oil and gas leases in the ANWR...The Voice of the Arctic Iñupiat (VOICE), a nonprofit advocacy group for Native-American communities living on the state’s North Slope, filed a lawsuit in July against the BLM and Haaland over the NPR-A rule, arguing the decision was made without any meaningful engagement with the North Slope Iñupiat, despite unanimous opposition from the elected leaders of the communities. For the VOICE, the decision Monday to offer only 400,000 acres for oil and gas leases in the ANWR was just another disappointment from the outgoing administration...Sen. Dan Sullivan, R-Alaska, told Reuters the Biden administration was ignoring the will of Alaskan Natives who want oil and gas development in the ANWR."

"Energy is everything. It is the price of food and the cost of freedom. It is the dignity of agency and the freedom of enterprise. Unleashing energy unleashes untold potential, and when President Trump takes office in a few weeks, we will see an extraordinary development in our energy markets extending to our national economy and into world peace."

– Daniel Turner,
Power The Future

O Christmas CR, O Christmas CR, how much more can we stuff onto your branches?

The Hill (12/17/24) reports: "House Republicans are fuming at Speaker Mike Johnson’s (R-La.) handling of an end-of-year measure to extend government funding until March, saying it is more like a sprawling omnibus — which they abhor — than a simple temporary funding measure. The continuing resolution (CR), which will keep government funding at current levels through March 14, is also set to include $100.4 billion in disaster aid for those affected by hurricanes earlier this year and $10 billion in economic assistance for farmers, lawmakers said, among other provisions. 'It’s not a CR, which is a continuation of the budget. It’s turning into an omnibus,' Rep. Marjorie Taylor Greene (R-Ga.) said. The final text of the measure has not yet been released, as congressional leaders work through the remaining hangups ahead of Friday’s funding deadline. But as the package begins to come into clear focus, Republicans of all stripes — including hard-line conservatives, committee chairs and moderates — are hammering away at Johnson for its contents, the process he followed to craft it, and how he plans to bring it to the floor for a vote. 'It’s a total dumpster fire. I think it’s garbage,' said Rep. Eric Burlison (R-Mo.), a member of the conservative House Freedom Caucus. 'This is what Washington, D.C., has done. This is why I ran for Congress, to try to stop this. And sadly, this is happening again.' 'We get this negotiated crap, and we’re forced to eat this crap sandwich,' echoed Rep. Chip Roy (R-Texas), another Freedom Caucus member. 'Why? Because freaking Christmas is right around the corner. It’s the same dang thing every year. Legislate by crisis, legislate by calendar. Not legislate because it’s the right thing to do.'"

How far will CA's attempt to electrify America's freight trains get? IER's Kenny Stein shares the findings of our recent report on The Voice Of Reason.

It's just too hard to resist.

Bloomberg (12/18/24) reports: "Global demand for coal is set to hit fresh records every year through at least 2027, International Energy Agency data show, overturning a previous estimate that it peaked last year, highlighting the challenges to limiting emissions that cause global warming. The latest forecast from the IEA sees demand for coal rising to nearly 8.9 billion tons by 2027, about 1% higher than 2024 levels. That overwrites last year’s estimate that coal demand would begin a steady decline this decade. The reality could surpass the current estimate, as demand has consistently eclipsed the IEA’s predictions in recent years...While demand for the world’s most CO2-emitting fossil fuel is set to be blunted by the soaring deployment of wind turbines and solar panels, even a record-setting pace for those hasn’t been enough to halt, let alone reverse, coal’s rise...While coal use has plummeted in Europe and the US, rising demand in India and China is more than enough to offset that. The rise in coal demand in the world’s two most populous countries by 2027 will be greater than the total demand in the EU by then, according to the IEA’s figures, underscoring how developing countries and their growing need for cheap energy are a crucial piece of the fight to prevent climate change."

Energy Markets

WTI Crude Oil: ↑ $70.76
Natural Gas: ↑ $3.39
Gasoline: ↑ $3.03

Diesel: ↑ $3.51
Heating Oil: ↑ $225.60
Brent Crude Oil: ↑ $73.71
US Rig Count: ↓ 586

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