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DAILY ENERGY NEWS  | 02/25/2025
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We have a strategic petroleum reserve. It's called our energy reserves.


Bloomberg (2/22/25) reports: "Interior Secretary Doug Burgum touted a plan for mapping deposits of oil, gas and critical minerals on US federal lands, casting it as an opportunity to catalyze development of the energy resources, reduce dependence on foreign suppliers and pare the nation’s debt. The Interior Department’s US Geological Survey has long analyzed energy resources on federal lands, including assessments of how much oil and gas could technically be recovered. Burgum’s vision suggests a more muscular role for the agency analyzing the economic potential of a range of mineral development across federal lands, which are set to play a central role in President Donald Trump’s 'drill, baby, drill' agenda to unleash American energy resources."

"In the Trump administration, we’re going to build that balance sheet, and we have trillions and trillions of dollars worth of natural resources, and we’re going to make sure that we understand that our assets far out exceed the debt that we have." 

 

– Secretary of Interior, Doug Burgum

Time to pay the piper.


The Hill (2/24/25) reports: "The Trump administration has been involved in talks with Ukraine about gaining access to the country’s critical minerals amid talks to end the Russia-Ukraine war. U.S. officials have suggested the deal would benefit Ukraine because it would create a greater incentive for the U.S. to provide security guarantees for Kyiv. Trump suggested Monday the agreement would be a way for the U.S. to recoup the money it has spent on military assistance for Ukraine in its war against Russia. 'I will be meeting with President Zelensky. In fact he may come in this week or next week to sign the agreement,' Trump told reporters in the Oval Office. 'They’re very close to a final deal. It’ll be a deal with rare Earths and various other things. And he would like to come, as I understand it, here to sign it,' Trump added."

Step Right Up and Get Some CLEAN ENERGY!


KSBW 8 (2/24/25) reports: "Beginning [today], crews will begin the process of disconnecting batteries which could soon be followed by the demolition and removal of toxic materials, a move that is raising concerns as to where all that debris will be dumped. 'I've had quite a few questions people asking where's the cleanup going to go, obviously there’s concern it might happen here in Monterey County or neighboring counties,' said Monterey County supervisor Glenn Church. A valid question following the fire that has left tons of debris polluted with toxic metals, lithium-ion, not to mention asbestos from the 75-year-old building, gutted in last month's fire. 'There's locations throughout the state that those that have been identified with remote areas and, you know, those would seem to be the prime areas that you'd be looking at,' said Church. Not until Vistra applies for a demolition permit will a final dump site be revealed but Action News is told the energy company may apply for an emergency permit." 

The team continues to grow.


E&E News (2/24/25) reports: "As a vocal advocate for oil and gas operators on public lands, Kathleen Sgamma has repeatedly laid out her views on some of the key issues the Bureau of Land Management is expected to take up in the first few months of the Trump administration. If the Senate confirms her nomination as the bureau’s next director, Sgamma will go from sidelines proponent to major player in pushing forward President Donald Trump’s 'energy dominance' agenda. The priorities Interior Secretary Doug Burgum has already identified for BLM could lead to a reversal of some of the Biden administration’s most ambitious initiatives on public lands. These included a sweeping public lands rule that put conservation on the same level as other uses of federal rangelands; updating land-use plans that restricted oil and gas drilling; and the halting of new coal mine leases across millions of acres in Wyoming, Colorado and Montana."

Wind power's free ride may be coming to an end.


Idaho Capital Sun (2/24/25) reports: "The Idaho Legislature’s House Revenue and Taxation Committee introduced a new bill Monday that goes 'gangster' on wind energy projects in Idaho. If passed into law, the bill requires county commissioners to prepare a ballot question for voters in the county where a new commercial wind project would be built. If a majority of county voters do not approve the proposed wind farm at the next election, county commissioners are required to immediately enact an ordinance establishing a new countywide excise tax on commercial wind turbines. The tax would be equal to $25,000 for every foot of height for any commercial wind turbine with a minimum height of 100 feet. That means developers of a commercial wind farm would have to pay a $2.5 million excise tax for every 100-foot-tall wind turbine that is included in a project."

Energy Markets

 
WTI Crude Oil: ↓ $70.32
Natural Gas: ↑↓ $4.01
Gasoline: ↑ $3.06
Diesel: ↑ $3.68
Heating Oil: ↑ $243.09
Brent Crude Oil: ↓ $74.34
US Rig Count: ↓ 596

 
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