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DAILY ENERGY NEWS  | 03/12/2025
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The Terminator.


Bloomberg (3/11/25) reports: "The Environmental Protection Agency said it’s terminating $20 billion in grants awarded through a green bank program established under former President Joe Biden’s signature climate law. The money is part of a $27 billion pool and awarded to community development organizations and other nonprofits, credit unions, housing agencies and solar energy projects. EPA Administrator Lee Zeldin claims that the Greenhouse Gas Reduction Fund is part of a 'scheme' administered by the previous administration without proper oversight. In a statement Tuesday, the agency said it had notified recipients of awards from the fund that their grant agreements for climate-related projects were being terminated after a review identified 'material deficiencies which pose an unacceptable risk to the lawful execution of these grants.'”

"I believe, once again, that we can adapt to the potential impacts to climate change without causing potential issues to our reliance on our natural resources within this country."

 

– Aaron Szabo, nominee for Assistant Administrator at the Office of Air and Radiation at Environmental Protection Agency

I know a way we can save a few trillion dollars.


Cato Institute (3/11/25) paper: "The Inflation Reduction Act (IRA) became law on August 16, 2022. Despite its name, the act was mostly designed to decarbonize the US economy by providing subsidies to producers of clean energy and consumers of low-carbon-emitting preferred products such as electric vehicles. A contentious point of debate surrounding the passage of the IRA was its budgetary impact—how much liability American taxpayers would have to take on to subsidize clean energy. Various governmental and nongovernmental organizations estimated fiscal costs that turned out to be too low and that they later revised upward. Using a transparent budget scoring methodology, we estimate that the energy subsidies in the act will cost between $936 billion and $1.97 trillion over the next 10 years, and between $2.04 trillion and $4.67 trillion by 2050. This estimate is substantial because several of the IRA’s largest subsidies are uncapped."

Prosperity starts with freedom.


New York Times (3/7/25) reports: "For the past two days, under the soft lights of chandeliers in a Marriott basement a block from the White House, energy ministers and tech founders from across Africa gathered to discuss how best to bring electricity to more than 600 million people on the continent who have none... Attendees got at least a part of their answer on Friday morning. Chris Wright, the new administration’s energy secretary, took the stage and gave an impassioned speech on how concerns over climate change should not prevent Africa from charging ahead with fossil fuel development. 'This government has no desire to tell you what you should do with your energy system,' he said. 'It’s a paternalistic post-colonial attitude that I just can’t stand.'”

A new climate scheme just dropped: retroactive climate taxes.


John Stossel (3/11/25) reports: "Some states are now fining fossil fuel companies billions—not for breaking the law, but for selling energy legally … DECADES AGO."

Energy Markets

 
WTI Crude Oil: ↑ $67.10
Natural Gas: ↓ $4.27
Gasoline: ↓ $3.08
Diesel: ↓ $3.63
Heating Oil: ↑ $221.53
Brent Crude Oil: ↑ $70.38
US Rig Count: ↑ 616

 
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