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DAILY ENERGY NEWS  | 03/03/2025
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Sounds like "drill, baby, drill" is contagious.


World Oil (3/3/25) reports: "OPEC+ will proceed with plans to revive halted oil production after repeated delays, amid pressure from President Donald Trump to lower oil prices. In a surprise move, the group led by Saudi Arabia and Russia will go ahead with the increase of 138,000 barrels a day (bpd) in April, a delegate said. It’s the first in a series of monthly hikes to revive production halted for more than two years, which will gradually restore a total of 2.2 million bpd. Crude traders had widely expected that OPEC+ would once again delay the restart, which it had postponed three times since first announcing a supply roadmap last June. Oil prices are too low for the Saudis and many other members to government spending, and global markets are on track for a supply surplus later this year."

"Reliable diets of taxpayer subsidies cause companies to develop a dependence, eventually killing their ability to fend for themselves...Innovation and competition—not lobbying and government connections—are the means to a rich and energy-abundant future." 

 

– Preston Brashers & Andrew Weiss,
The Heritage Foundation

The lawfare must end.


Daily Signal (2/28/25) reports: "Having failed to convince the voting public about the merits of its campaign against fossil fuels, the climate movement is now turning to the courts to enforce its agenda. And to support this effort, millions of dollars are now flowing through liberal charities and nonprofit groups to pay lawyers to prosecute these cases...Climate lawsuits, given their proliferation across the U.S., are succeeding in driving up legal costs for energy companies, but to date, they have not won the enormous payouts they are seeking. 'These oil companies have been spending millions and millions of dollars defending against all these cases, so to that extent, the ideological goals of the environmentalists are being met, because they are increasing the costs for these companies,' Kenny Stein, director of policy for the Institute for Energy Research, told The Daily Signal. 'But the cases have been failing, and I think they will continue to fail,' he said. 'The legal justification for all these things was very tenuous to begin with.' On Jan. 14, New York State Supreme Court Justice Anar Patel dismissed a New York City lawsuit against ExxonMobil, BP, and Shell that claimed the defendants misled the public about the companies’ commitment to renewable energy."

This is what America voted for.


New York Times (3/2/25) reports: "In a few short weeks, President Trump has severely damaged the government’s ability to fight climate change, upending American environmental policy with moves that could have lasting implications for the country, and the planet. With a flurry of actions that have stretched the limits of presidential power, Mr. Trump has gutted federal climate efforts, rolled back regulations aimed at limiting pollution and given a major boost to the fossil fuel industry...Mr. Trump has frozen funds appropriated by Congress for clean energy projects, taking particular aim at wind energy, the country’s largest source of renewable power. He has stopped approvals for wind farms on public land and in federal waters and has threatened to block projects on private land...He has waged a multipronged assault at regulations designed to curb pollution, immediately sweeping some rules to the side and circumventing the normally lengthy rule-making processes. At the same time, Mr. Trump has declared an energy emergency, giving himself the authority to fast-track the construction of oil and gas projects as he works to stoke supply as well as demand for fossil fuels. 'We’re going to drill, baby, drill and do all of the things that we wanted to,' Mr. Trump said just hours after being sworn in for his second term."

The medicine for inflation is unleashing American energy.


Enter Stage Right  (3/3/25) op-ed: "Inflation. This word strikes fear among most readers. Thoughts of grocery bills and gas prices might be what the average American attaches to this word. However, price increases are not inflation itself. Rather, they are a consequence of inflation. Inflation simply means an artificial increase in the money supply. In today's world, an increase in the money supply is generally caused by central banks "printing" more money. This is exacerbated in our current fiat system, whereby governments are not limited by a stock of a commodity, say, gold.  Inflation is an 'economics' word, but one that has real-life consequences, including its effects on many Americans' ability to start a family. Planning is an essential element in any family. How much should be saved, if and when to have children, how much to put away for college, when to retire, and even what will be bought at the grocery store, are all questions individuals must answer when preparing for the future...In fact, inflation destroys the ability to economically calculate profits and losses. Or, as Ludwig von Mises writes, ' By destroying the basis of reckoning values…inflation shakes the system of calculations in terms of money.' With inflation, the value of every dollar decreases. This means that each dollar saved is worth less. "

Energy Markets

 
WTI Crude Oil: ↑ $70.08
Natural Gas: ↑ $3.88
Gasoline: ↑ $3.09
Diesel: ↓ $3.65
Heating Oil: ↓ $230.94
Brent Crude Oil: ↑ $73.16
US Rig Count: ↑ 609

 
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