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DAILY ENERGY NEWS  | 01/28/2025
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More oil, more wealth.


OilPrice (1/23/25) reports: "Sentiment in oil markets remained very bearish for most of 2024 amid fears of weakening global demand, weak Chinese economy and a potential oversupply in 2025. Commodity analysts at Standard Chartered continuously reiterated their bullish stance, arguing that the extreme bearishness was unwarranted. Well, StanChart appears to have been vindicated, with oil prices trading above $80 per barrel for the first time since August. Lately, prices have pulled back a little due to the uncertainty of energy policies under Trump. And now StanChart has reported that the bulls are returning to oil futures markets."

"The hype over wildfires is just hype to justify more impoverishment from bad government policies." 

 

– Chris Wright, Secretary of Energy

The cavalry is here!


RealClearEnergy (1/27/25) op-ed: "President Donald J. Trump’s swearing in this week was like the horn of a cavalry charge backing up the soldiers fighting on the front line for sanity. On day one, President Trump prioritized actions to undo some of the many harmful, radical policies (250+ actions) from the Biden Administration and set America on a course toward energy independence. His executive orders will grow U.S. fossil fuel production by incentivizing new investments and unleashing new areas of production, which will lead to more energy, cheaper costs, and a more secure nation."

Just blame oil companies...that'll keep them in California.


MSN (1/27/25) reports: "Oil and gas companies would be liable for damages caused by climate change-related disasters in California under legislation introduced Monday by two Democratic lawmakers. The proposal claims that the oil industry intentionally deceived the public about the risks of fossil fuels on climate change that now have intensified storms and wildfires and caused billions of dollars in damage in California. Such disasters have also driven the state insurance market to a crisis where companies are raising rates, limiting coverage or pulling out completely from regions susceptible to wildfires and other natural disasters, supporters of the bill said."

Ask, and you shall receive.


OilPrice (1/24/25) reports: "JERA, the largest LNG buyer in Japan, plans to boost purchases from the United States to diversify its supply portfolio, a top company executive told Reuters on Friday. Japan, the world’s second-largest LNG importer after China, is looking to increase its energy security with diverse sources of supply and could face steeper competition from fellow Asian importer South Korea, the world’s third-biggest, as well as from Europe. U.S. President Donald Trump has threatened 'tariffs all the way' if Europe doesn’t boost purchases of American oil and gas."

Energy Markets

 
WTI Crude Oil: ↓ $73.66
Natural Gas: ↓ $3.60
Gasoline: ↑ $3.12
Diesel: ↑ $3.67
Heating Oil: ↑ $247.73
Brent Crude Oil: ↓ $77.58
US Rig Count: ↓ 587

 
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