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DAILY ENERGY NEWS  | 01/07/2025
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We look forward to President Trump banning all the windmills. We have to protect the oceans, after all.


Daily Caller (1/6/25) op-ed: "The Biden White House said early Monday that outgoing President Joe Biden has ordered huge swaths of U.S. federal waters off-limits to future leasing and drilling for oil and natural gas. The ban includes the entire offshore Atlantic, offshore Pacific, the Eastern Gulf of Mexico, and the Northern Bering Sea. All told, the regions impacted by the ban encompass 625 million acres, an area bigger than the states of Texas and Alaska combined. It is also significantly larger in scope than the Louisiana Purchase, which spanned 530 million acres...Ironically, the Biden ban includes the Atlantic areas where his administration has spent billions of dollars subsidizing the construction of massive industrial wind power facilities...Dan Kish, senior fellow at the D.C.-based Institute for Energy Research think tank, pointed to the 'irony of his proposed windfarms in the same waters he is closing to American oil and gas is they are not going to be built. The electricity they produce is so expensive it is deindustrializing Europe and beginning to topple governments. The only question is whether the governments or the windmills will topple first.' Kish characterized Biden’s move as 'a petulant act of a Hard Left Establishment out to punish 340 million Americans who rejected their calls to bow to their Climate Religion and its vows of poverty.' Kish added that Biden and his White House 'couldn’t care less about the national security implications, as witnessed by their feckless record that has lit fires around the world while they try to extinguish our gas stoves at home.'"

"There is no need for poor countries to wait. While Western donors fret over whether investing in roads is 'green,' China has been more than willing to help poor countries build urgently needed infrastructure—as have India, Brazil, Saudi Arabia, and Turkey. It is up to poor countries to seize the moment and return to their own priorities with investments in energy, agriculture, infrastructure, and jobs." 

 

– Vijaya Ramachandran &
Ted Nordhaus,
the Breakthrough Institute

Big Green, Inc. is looking more and more like a crime syndicate every day. 


Washington Examiner (1/7/25) reports: "A little-known network funded by the Rockefellers, former Google CEO Eric Schmidt, and top foundations is behind a disruptive climate activist group that is drawing the attention of law enforcement, according to tax records. Over the last year, an organization known as Climate Defiance has propelled itself into the national spotlight by deploying activists to blockade the Energy Department’s office in Washington, D.C., force a Democratic senator off the stage at her book launch event, and even storm the field during an annual baseball game featuring members of Congress...Now, newly filed financial disclosures reveal how Climate Defiance, which aims to 'make support for any fossil fuels as unacceptable on the Left as opposing abortion or gay marriage,' keeps its lights on. More than half of Climate Defiance’s revenue of $543,000 in 2023 for its advocacy group came from a hub called the Oil and Gas Action Network...The donations to the Oil and Gas Action Network, which top $3.9 million, illustrate how top foundations have broadened their missions beyond the typical scope of charitable giving to prop up unconventional activism, said Thomas Pyle, president of the Institute for Energy Research. 'It’s one thing to protest, but it’s another to start crossing over into breaking the law and trespassing,' Pyle said. 'The organizations that fund these efforts should be heavily scrutinized, and the IRS ought to consider stripping their tax-exempt status, or, at least, review it.' The donations are also a window into how activist hubs cosplay as grassroots while quietly relying on larger and more influential backers for resources. As the billionaire-funded Oil and Gas Action Network transferred funds to Climate Defiance, the group has called to 'abolish' billionaires."

"Energy is going to bring down prices."
                       ~President-elect Donald J. Trump at a press conference today.


Politico (1/7/25) reports: "President-elect Donald Trump will have trouble meeting his pledges to massively increase oil production — even if he manages to overturn President Joe Biden’s sweeping new ban on offshore drilling. Reluctance by economically skittish petroleum producers, the rise in fuel-efficient cars and Trump’s own threatened trade wars will make it difficult for the United States to produce significantly more oil than it already does, energy analysts told POLITICO on Monday. The fact that the U.S. is already the world’s biggest oil producer and biggest gas exporter will also make sharp increases hard to achieve, despite Trump’s campaign pledges of energy 'dominance.'...Tariffs would imperil deliveries of heavy crude from Canada, the top U.S. supplier of the stuff, that would be 'exceedingly difficult to replace,' energy consulting firm ClearView Energy Partners wrote in a December note. That would throttle gasoline production by taking key supplies offline, as those heavy crude shipments to complex refineries hover near 3 million barrels per day — accounting for roughly 18 percent of crude inputs for U.S. refineries. 'We understand President Trump’s agenda with respect to tariffs, but we feel strongly that he should consider walling off energy,' said Tom Pyle, president of the conservative think tank Institute for Energy Research, who noted the challenges refiners would face replacing Canadian imports. 'I think it’s perfectly appropriate to include Canada as a reliable trading partner.'"

America has all the lithium we could ever need if the government would just let us mine it. Where have you heard this story before?


Oil Price (1/6/25) reports: "A massive new lithium discovery on the border between Oregan and Nevada could supercharge the country’s white-gold rush. It is estimated that the newly discovered reserves under the ancient McDermitt Caldera holds a whopping 40 million metric tons of lithium. The scale of this deposit is extraordinary, 'dwarfing other reserves worldwide.' Just last year, lithium producers were thrilled to find a reserve of 4 million metric tons of lithium in the Smackover Formation, a geologic formation that spans the width of Arkansas. Next to the McDermitt Caldera, that now seems a paltry sum. These discoveries could prove to be a critical competitive edge for the United States, which has been struggling to diversify its lithium supply chains away from China in recent years. China alone refines 60% of the world’s lithium, and as trade tensions ramp up between Washington and Beijing based on Donald Trump’s campaign trail promises, developing a domestic lithium industry is more critical than ever before. The timing could not be more ideal, and the scale of the McDermitt deposits could indeed be a launch pad for a 'new chapter in energy independence' for the United States. Lithium is a 'critical mineral' for the green energy revolution, and is increasingly important for the tech sector in general due to its central role in rechargeable batteries. In recent years, demand for lithium-ion batteries has skyrocketed as the tech sector expands, and this upward growth is projected to continue at a steady clip. "

Energy Markets

 
WTI Crude Oil: ↑ $74.12
Natural Gas: ↓ $3.56
Gasoline: ↑ $3.06
Diesel: ↑ $3.53
Heating Oil: ↑ $236.45
Brent Crude Oil: ↑ $76.93
US Rig Count: ↓ 569

 
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