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DAILY ENERGY NEWS  | 02/17/2025
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The council has granted you the rank of master.


AP News (2/14/25) reports: "President Donald Trump on Friday signed an executive order formally creating a National Energy Dominance Council and directed it to move quickly to drive up already record-setting domestic oil and gas production. The new council, to be headed by Burgum, will be granted sweeping authority over federal agencies involved in energy permitting, production, generation, distribution, regulation and transportation, with a mandate to cut bureaucratic red tape, enhance private sector investments and focus on innovation instead of 'totally unnecessary regulation,' Trump said. Trump also vowed to revive a canceled pipeline that would carry natural gas from Pennsylvania to New York, saying it could slash energy prices in the Northeast by as much as 70%."

"It is important ... that the habits of thinking in a free Country should inspire caution in those entrusted with its administration, to confine themselves within their respective Constitutional Spheres; avoiding in the exercise of the Powers of one department to encroach upon another. " 

 

– President George Washington

A smaller government workforce is why we're just radiating positivity.


The Spokesman-Review (2/16/24) reports: "More than a dozen Department of Energy workers were fired this month at a central Washington nuclear cleanup site, with at least 30 more federal workers taking buyouts, the latest in President Donald Trump’s and “special government employee” Elon Musk’s quest to slash the federal workforce. The Hanford site was used from World War II through the Cold War to produce two-thirds of the nation’s plutonium for nuclear weapons, leading to major contamination. In a news release Saturday, Sen. Maria Cantwell, D-Wash., said the Trump administration has fired or plans to fire an estimated 200,000 federal workers, targeting workers who are on a probationary period – hired or promoted within the past year or two – and thus don’t have full civil service protections."

Ford misses ... again.


Auto Blog (2/13/25) reports: "Large electric pickup trucks and EVs are a pricey bunch. The base F-150 Lightning XLT starts at $62,995 and climbs to $83,995 for the top Platinum trim. A 2025 GMC Sierra EV starts at $89,995, and the Hummer EV’s base MSRP is $96,550. All of these vehicles use big batteries, which are expensive to manufacture and weigh anywhere from 6,000 to over 9,000 pounds, making them rather inefficient for electric vehicles. Ford’s once-robust plan to bump its annual EV production to over two million vehicles by the year 2026 has been adjusted in response to changes in the EV market that have seen the rise slow down. One of the vehicles planned was an Expedition-like three-row SUV, but that plan has now been shelved in response to the market. The move to power larger vehicles with plug-in hybrid, extended-range electric, and gas-electric hybrid powertrains seems to make more sense."

My bad chemical romance.


The Telegraph (2/15/25) reports: "Ministers have been warned that sky-high energy costs are pushing Britain’s prized chemicals industry to [a] breaking point after hundreds of jobs at two factories were plunged into doubt. In a letter to Jonathan Reynolds, the Business Secretary, the Chemical Industries Association lobby group blamed crippling UK energy prices and carbon taxes for compounding the woes of a global downturn in chemicals demand. The chemical sector – long viewed as a crown jewel of British industry – is the country’s second-biggest source of exports and employs more than 130,000 people. It provides the raw materials used in around 96pc of manufactured goods. Despite many months of dire warnings, chemical company executives fear ministers have not grasped the severity of the crisis."

Energy Markets

 
WTI Crude Oil: ↓ $70.67
Natural Gas: ↓ $3.64
Gasoline: ↑ $3.16
Diesel: ↓ $3.66
Heating Oil: ↓ $243.93
Brent Crude Oil: ↓ $74.61
US Rig Count: ↑ 608

 
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