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DAILY ENERGY NEWS | 01/16/2025

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Exxon should countersue New York politicians for misleading the public about their competency.

Reuters (1/15/24) reports: "A judge has dismissed New York City's lawsuit seeking to hold Exxon Mobil, and Shell liable for misleading the public about their products, and their commitment to renewable energy and fighting climate change. In a decision on Tuesday, state Supreme Court Justice Anar Patel said the city could not claim its climate-conscious residents were sensitive to how fossil fuels cause climate change, only to then be duped by the oil companies' failure to disclose how their fossil fuel products contributed to it...With about 8.3 million people, New York City said the companies falsely portrayed themselves in ads and social media as climate change leaders despite minimal investments in clean energy such as wind and solar...The American Petroleum Institute welcomed the latest decision. 'Climate policy is for Congress to debate and decide, not a patchwork of courts,' said Ryan Meyers, the trade group's general counsel."

"[Biden's] poorly considered climate regulations impoverish Americans and make China rich without lowering global emissions or temperatures."

– Diana Furchtgott-Roth,
Heritage Foundation

The powerful force of common sense threatens Biden’s climate plans.

E&E News (1/16/25) reports: "President Joe Biden used the first half of his 17-minute farewell address Wednesday night to tout his achievements over the past four years, highlighting infrastructure and climate legislation that created new jobs across the country. Then it got dark. Speaking from the Oval Office, Biden warned that a powerful 'oligarchy' threatens U.S. democracy — and is working to diminish and destroy his climate policy. He said climate change was among the most dire threats facing the country and that he was concerned about the fate of his landmark climate law, the Inflation Reduction Act. The law included almost $400 billion in clean energy spending — which President-elect Donald Trump has pledged to claw back."

The same state mandating EVs for every family is providing a potent example of how they aren't the right product for every situation.

LA Times (1/15/25) reports: "You’ve plugged your electric vehicle into your home charger and hit the sack. Overnight, high winds topple a power line. Your charger blacks out. Then, a report of a fire, followed by an evacuation order. Your battery’s only charged to 25%. And it’s your only car. Such are the fears some California car buyers are expressing amid the fires that have devastated Los Angeles County and forced people to evacuate their homes at a moment’s notice. A gasoline car “can evacuate in any direction on any road and still get fuel when needed,” said Matthew Butterick, a Los Angeles attorney who lives near Griffith Park. 'The EV stations on evacuation routes would have massive lines and delays, gasoline stations less so. And the electric grid may not be available. Power companies turn off power to avoid sparking a fire and also to avoid legal liability. This is probably the future of all the hillside neighborhoods.' His sentiments were echoed by Val Cipollone, who lives in the wooded hills above Berkeley. She owns a Nissan Leaf, a full electric vehicle with a roughly 220-mile range, which she plans to sell."

A good start.

Axios (1/15/25) reports: "Senate Majority Leader John Thune (R-S.D.) has a "fairly lengthy list" of last-minute Biden regulations that Republicans may try to undo in the coming weeks, he told Axios. Why it matters: The Congressional Review Act (CRA) gives Congress until mid-May to reverse what Republicans are calling the 'midnight rules' of the Biden administration. Sen. Ted Cruz (R-Texas) will kick things off next week by introducing three resolutions to erase Biden moves on crypto, energy and internet access. 'We are scrubbing right now to determine what is eligible,' Thune said at an event at the American Petroleum Institute earlier on Tuesday. How it works: CRA resolutions have to pass with majority votes in both chambers of Congress. Those votes can only happen 15 legislative days into a new Congress — the power won't be available until late January or early February. The window for action closes 60 sessions into the new Congress."

Energy Markets

WTI Crude Oil: ↓ $79.91
Natural Gas: ↑ $4.10
Gasoline: ↑ $3.10

Diesel: ↑ $3.60
Heating Oil: ↑ $264.00
Brent Crude Oil: ↓ $81.92
US Rig Count: ↑ 585

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