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DAILY ENERGY NEWS  | 02/03/2025
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Fine, we'll drift our LNG to Asia.


Oil.com (1/28/25) reports: "President Donald Trump’s approach to fixing U.S. trade deficits with the country’s biggest trading partners will benefit LNG exporters to Asia, giving them a bigger share of that market, Bloomberg Intelligence has forecast. The EU has already suggested it would increase its purchases of U.S. liquefied gas after Trump urged the bloc to do just that in order to shrink its surplus with the United States, which he considers unacceptable. Japan’s JERA was just recently reported to consider greater imports of U.S. LNG as well, seeking to diversify its sources of the commodity but also falling in line with Trump’s quest against trade deficits, as Japan is another big trade partner."

"Seeing that energy has been less hit in today’s announcement, we should absolutely resist the temptation to then hit it twice as hard on the Canadian side. That would just be the wrong thing to do for the long term for Canada." 

 

– Scott Crockatt, Business Council of Alberta

Turn out the lights ... the party's over.


Great Britain News (1/31/25) reports: "Britain is edging closer and closer to suffering from blackouts as the UK's energy security faces fresh uncertainty following the dramatic collapse of Norway's Government over EU green energy directives. The political crisis erupted when Norway's centrist party pulled out of the two-party coalition, refusing to accept three EU directives aimed at increasing renewable energy sources and efficiency."

President Trump has cleared a path for the death of the Paris Agreement.


RealClearEnergy (1/31/25) reports: "President Donald Trump withdrew from the Paris Agreement. Cue the leftwing meltdown. Though everyone knew the withdrawal was coming, the left and the 'international community' are still decrying America’s alleged abdication of leadership on climate. But toothless agreements window dressed with international summits and photo ops are not the same as leadership. The truth is America has led the world in reducing emissions for years not because of the Paris Agreement, but because innovation and the free market facilitate the deployment of cheaper and cleaner energy."

Me next.


The New Zealand Herald (2/02/25) reports: "Act leader and senior minister David Seymour has floated taking a policy of pulling New Zealand out of the Paris climate agreement to the next election, potentially making Paris withdrawal an Act election promise. Labour’s Climate Change spokeswoman Megan Woods has called on Prime Minister Christopher Luxon to recommit to the deal and not allow Seymour to pull New Zealand out of it. Luxon has been approached for comment."

No, me next.


Antara (1/31/25) reports: "Indonesia's special envoy for climate change and energy, Hashim Djojohadikusumo, said he considers the Paris Agreement no longer relevant for Indonesia following the US withdrawal from the deal. 'If the United States does not want to comply with the international agreement, why should a country like Indonesia comply with it?' he asked at the ESG Sustainable Forum 2025 in Jakarta on Friday."

10 is less than 25.


CTV News (2/1/25) reports: "With U.S. tariffs on Canadian goods set to begin Tuesday, business groups say even the reduced tariff on Canadian energy will damage economies on both sides of the border. U.S. President Donald Trump signed an executive order Saturday to put a 25 per cent tariff on Canadian goods and a 10 per cent tariff on Canadian energy starting Tuesday. Scott Crockatt at the Business Council of Alberta says there is some relief from the oil and gas sector that they will see a lower levy, but tens of thousands of Canadian jobs are now in jeopardy."

Energy Markets

 
WTI Crude Oil: ↑ $74.20
Natural Gas: ↓ $3.30
Gasoline: ↑ $3.09
Diesel: ↓ $3.65
Heating Oil: ↓ $248.49
Brent Crude Oil: ↓ $76.80
US Rig Count: ↑ 610

 
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