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DAILY ENERGY NEWS  | 03/06/2025
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Make Argentina Great Again.


Wall Street Journal (3/06/25) article: "Argentina’s Vaca Muerta is just getting started. Will pro-business regulation be enough to start a shale boom there? The shale basin—whose name is translated as 'dead cow'—has seen more signs of life in recent years. The question is whether the pro-business changes of Javier Milei, who became Argentina’s president more than a year ago, will be enough to speed up growth. Oil production there has reached about 440,000 barrels a day, and research firms estimate that it could hit a million barrels a day by 2030. That is still a relatively small number, representing about 15% of what the Permian Basin produced in the last quarter of 2024. But the U.S. Energy Information Administration estimates that there is about 16 billion barrels of technically recoverable shale oil and condensate in Vaca Muerta."

"You can have a clean and healthy environment and growing industries and economies. In Louisiana, we exemplify this balance, thriving as a Sportsman’s Paradise while simultaneously expanding our industrial base." 

 

– Aurelia S. Giacometto, Secretary of the Louisiana Department of Environmental Quality

Public benefits charge? That's a new one.


WTNH (4/06/25) reports: "A public hearing in Hartford on a bill designed to lower electric rates. It’s backed by republicans who want to get rid of the 'public benefits charge' on your power bill. Democrats also say they want to lower rates but say it’s a long-term problem. This idea has a lot of people talking. A big chunk of your electric bill consists of this public benefits charge. Republicans say get rid of that, and everybody’s bill gets a lot cheaper. Most Democrats are fighting that because of what the charge funds. It supports energy efficiency initiatives, renewable energy, Operation Fuel, which helps keep the lights and heat on for low-income families. Republicans say it funds over 40 different discretionary government programs and is equivalent to a 'hidden tax' on electric bills."

The Bayou is bringing back common sense.


RealClearEnergy (4/05/25) article: "The recent change in administration in Washington has sparked a renewed sense of optimism here in Louisiana. This transition presents an opportunity to realign priorities that have, in some cases, promoted false narratives of clean air and water above the fundamental needs of human communities. We extend invitations to incoming officials from the Environmental Protection Agency’s Lee Zeldin, the Department of the Interior’s Doug Burgum, the Department of Energy’s Chris Wright, and the Department of Commerce’s Howard Lutnick to visit Louisiana and observe firsthand how we balance the interests of the health of our residents, the environment, and growing industries."

Rule Britannia, Britannia used to rule the waves.


The Guardian (3/05/25) reports: "The UK government has unveiled proposals that could ease the tax burden on the offshore oil and gas sector but confirmed that it would also ban new drilling licences as part of a pledge to 'unleash the North Sea’s clean energy future.' The 'windfall' tax on North Sea drillers, introduced in 2022 to help support households facing rising energy bills after Russia’s invasion of Ukraine, would be scrapped from 2030, the Treasury confirmed on Wednesday. In its place, ministers will consult on a new regime, under which duties move in tandem with global wholesale energy prices, something the industry said would provide its investors with 'certainty.' North Sea drillers currently pay a 40% tax on their profits, as well as the 38% energy profits levy brought in by the previous government in response to energy companies recording bumper profits as oil and gas prices surged in response to war in Ukraine."

Energy Markets

 
WTI Crude Oil: ↓ $66.59
Natural Gas: ↑ $4.43
Gasoline: ↑ $3.11
Diesel: ↓ $3.65
Heating Oil: ↑ $225.70
Brent Crude Oil: ↓ $69.52
US Rig Count: ↑ 605

 
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