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DAILY ENERGY NEWS | 02/14/2025
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** Big Green, Inc. will be buying their own Valentines moving forward.
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Daily Caller ([link removed]) (2/13/25) reports: "The Trump administration is moving to take back $20 billion for a green grantmaking program that the Biden Environmental Protection Agency (EPA) rushed to obligate in its final days. EPA Administrator Lee Zeldin announced Wednesday night that his agency is working to reassume control of the funding for the Biden EPA’s Greenhouse Gas Reduction Fund (GGRF), a massive spending program designed to provide cash to coalitions of green groups that then use the funds to finance green technology and other similar projects. At least three of the eight organizations that were selected as awardees are loaded with Democrat Party insiders. 'One of my very top priorities at EPA is to be an excellent steward of your hard-earned tax dollars. There will be zero tolerance of any waste and abuse,' Zeldin said in his Wednesday statement posted to X. 'We will review every penny
that has gone out the door. The days of irresponsibly shoveling boat loads of cash to far-left activist groups in the name of environmental justice and climate equity are over.' Among the awardees selected by the Biden EPA are Climate United, the Coalition for Green Capital and Power Forward Communities, three groups that are taking home almost $14 billion combined to establish financing operations for a wide variety of green technology and energy projects under the GGRF’s National Clean Investment Fund."
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** "President Trump’s second term represents a historic turning point—not just for Alaska, but for the U.S. as a whole. Alaska’s role in reshaping U.S. energy policy is undeniable. Unlocking the state's full potential will ignite unprecedented innovation and pave the way for a more secure national energy future. The time to act is now."
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– The Honorable Dan R. Brouillette, Real Clear Energy ([link removed])
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Those mandated "cheaper" renewables should kick in any day now.
** New Jersey Online ([link removed])
(2/13/25) reports: "Most New Jerseyans will see the cost of their electricity increase in June thanks to continuous stress on electric grids amid growing demand, state officials said. The New Jersey Board of Public Utilities on Wednesday announced the results of a yearly electricity auction for its top four electric providers - Atlantic City Electric, PSE&G, Jersey Central Power & Light and Rockland Energy - all of whom expect at least a 17% increase for consumer in monthly electric costs. Those rates take effect June 1. The same auction last year caused ratepayers to complain about unexpectedly high electric utility bills. The increase would reflect about $20 extra per month in electric costs, said Brian Lipman, director of New Jersey’s Division of Rate Counsel, a government agency that oversees energy costs on behalf of ratepayers...Analysts have indicated the PJM’s grid, like many across North America, is often strained while trying to meet growing demand. The grid falls under an
'elevated risk' between this year and 2029, meaning power shortfalls may follow extreme weather conditions. Murphy’s administration has worked to grow the state’s electric production base, specifically with a set of offshore wind farms, as part of another push to make New Jersey more reliable on clean energy."
Shot:
** ICSC ([link removed])
(12/5/24) reports: "China’s coal consumption could peak by 2025 as the world’s top consumer of the fossil fuel ramps up its push for clean energy, a report published on Wednesday said. The country — the largest greenhouse gas emitter — remains heavily reliant on coal despite installing renewable energy capacity at record speed. But while coal remains king in China’s energy mix, there are signs the world’s second-biggest economy may be weaning itself off the fossil fuel...The 2015 Paris Agreement requires countries to submit increasingly deep emission cutting plans every five years, known as Nationally Determined Contributions (NDCs). China is due to submit its updated NDC by February next year."
Chaser:
** AP ([link removed])
(2/13/25) reports: "China’s power industry began construction on nearly 100 gigawatts of new coal plant capacity last year, the most in nearly a decade, a report from two clean-energy groups said Thursday. The development raises concerns about the ability of the world’s largest carbon dioxide emitter to meet its climate goals and threatens to undercut China’s massive expansion in solar and wind power, which has far outpaced that in the United States and Europe, the report said. 'Instead of replacing coal, clean energy is being layered on top of an entrenched reliance on fossil fuels,' it said. The report is part of a review of China’s coal projects done every six months by the Europe-based Centre for Research on Energy and Clean Air and the U.S.-based Global Energy Monitor. Construction began on 94.5 gigawatts of coal power plant capacity in 2024, more than in any year since 2015, according to a worldwide database of coal plants maintained by Global Energy Monitor. Work also resumed on 3.3
gigawatts of suspended projects, the report said...The concern is that coal power will displace solar and wind capacity. The report said that in the last three months of 2024, electricity generation from fossil fuels remained high, while solar and wind utilization dropped sharply."
Energy Markets
WTI Crude Oil: ↑ $71.66
Natural Gas: ↑ $3.69
Gasoline: ↑ $3.16
Diesel: ↑ $3.67
Heating Oil: ↑ $247.28
Brent Crude Oil: ↑ $75.49
** US Rig Count ([link removed])
: ↑ 593
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