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DAILY ENERGY NEWS | 03/17/2025
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** If solar and wind are so cheap and fast, why do they need subsidies?
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The New York Times ([link removed]) (3/17/25) reports: "These are tough times, politically, for the renewable energy industry. Mr. Trump has been a blistering critic of wind turbines for years and openly promotes fossil fuels like oil and gas, riding into office on a promise to 'drill, baby, drill.' He has halted federal approvals for wind farms, placed a moratorium on large solar arrays on public lands and frozen billions of dollars in spending for battery factories and electric grid upgrades. At the same time, Republican leaders in Congress are talking about ending federal subsidies in the form of tax credits for low-carbon electricity, which have been expected to supercharge the growth of wind and solar power. Uncertainty around those credits has paralyzed the renewable energy industry, with companies delaying projects and laying off workers."
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** "The Trump administration will end the Biden administration’s irrational, quasi-religious policies on climate change that imposed endless sacrifices on our citizens."
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– Secretary of Energy, Chris Wright ([link removed])
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Looks like dictatorships have trouble keeping the lights on ...
** ABC News ([link removed])
(3/16/25) reports: "Union Electrica, the state agency responsible for the electric grid, reported that most of the capital, Havana, and eastern parts of the country had power. It expected service to return to western areas on Sunday, too. The massive blackout that began Friday night was the fourth in the last six months as a severe economic crisis plagues the Caribbean country. The Ministry of Energy and Mines attributed it to a failure at a substation in the suburbs of Havana. Experts have said the electricity disruptions are a result of fuel shortages at power plants and aging infrastructure. Most plants have been in operation for more than 30 years."
All the more reason to increase American LNG production.
** Semafor ([link removed])
(3/12/25) reports: "Iraq is building a permanent offshore liquefied natural gas terminal, joining a growing list of nations turning to LNG imports for long-term energy needs. Baghdad was forced to accelerate construction, according to news site AGBI, after the US revoked a waiver allowing purchases of Iranian gas via pipeline, part of Washington’s efforts to reapply 'maximum pressure' on Tehran. Baghdad’s shift to LNG imports comes as global production surges. Iraq is in talks with Qatar, which plans to expand overall output by 85% by 2030, for supplies. ADNOC Gas is also doubling its capacity."
Mine, baby, mine.
** Reuters ([link removed])
(3/11/25) reports: "At the beginning of the century coal generated more than half of U.S. power. It has now sunk to less than 20%, according to the Energy Information Administration. 'I think as part of the national energy emergency which President Trump has declared we’ve got to keep every plant open. And if there have been units at a coal plant that have been shut down, we need to bring those back on,' [Burgum] said. 'We can stop death by regulation,' he said. 'Part of that we can do by taking a close look at some of the actual legality of some of the rule-making that was perpetrated against these industries.' The Interior Department said in an email to Reuters it was committed to 'revitalizing the coal industry through the reduction of regulatory barriers and the promotion of energy independence.'"
Energy Markets
WTI Crude Oil: ↑ $68.01
Natural Gas: ↑ $4.11
Gasoline: ↓ $3.07
Diesel: ↓ $3.59
Heating Oil: ↓ $219.62
Brent Crude Oil: ↑ $71.39
** US Rig Count ([link removed])
: ↑ 628
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