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DAILY ENERGY NEWS  | 03/21/2025
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The Germans are utterly hopeless.


Reuters (3/20/25) reports: "Germany could save more than 300 billion euros ($326.49 billion) by 2035 by implementing the energy transition more efficiently, according to a study from the Boston Consulting Group and the country's BDI industry association released on Thursday. Germany is expected to spend hundreds of billions of euros on its transition towards greener energy sources in the coming years, with the goal of carbon-neutrality by 2045. At the same time, Berlin faces pressure from industry to bring down stubbornly high energy costs. The BDI study calculated the savings based on current plans, which are expected to cost 1.57 trillion euros over the next 10 years in operation, expansion and maintenance of the energy system. According to the study, investments currently planned in renewables, power grids and hydrogen far exceed foreseeable demand. This would result in avoidable additional costs. At the same time, planning in many places relies on expensive solutions such as underground cables instead of overhead lines...The costs of the German electricity system have increased by around 70% since 2010 and further increases are foreseeable, the lobby said. Gas prices are five times higher, and electricity prices up to 2.5 times higher than those of international competitors."

"There's been a whole-of-government attack on U.S. energy by the Biden administration... the pipelines, linear infrastructure ground to a halt... Energy isn't just an industry. Energy is the foundation of all other industries."

 

– Secretary Doug Burgum

I dig it.


The Hill (3/20/25) reports: "President Trump on Thursday signed an executive order intended to boost production of critical minerals in the United States and confirmed a deal to gain access to minerals in Ukraine was still on track. Trump signed the order behind closed doors at the White House. A spokesperson said the order would streamline permitting to allow for increased mining of the minerals. The order invokes wartime powers under the Defense Production Act to expand domestic U.S. mining production, according to information shared by a White House official. In addition, the efforts to increase mineral production may end up including coal, if Interior Secretary Doug Burgum decides that the fossil fuel should fall under the definition of 'minerals.'"

Our mission: kill energy taxes whenever and wherever they rear their ugly head. Our own Kenny Stein is on the case in Pennsylvania. Give a listen.

So much winning.


Wall Street Journal (3/20/25) editorial: "The Energy Department on Wednesday approved the Venture Global CP2 liquefied natural gas export project that became a cri de coeur for climate activists. Good call. Meantime, we are learning more about how the Biden team deceived Americans about its 2024 LNG export 'pause.' President Biden, prodded by climate adviser John Podesta, announced a supposedly temporary suspension of LNG project approvals in January of the election year. The stated purpose was so Energy could do a study to determine if increased exports are in the 'public interest.' It turns out that DOE career staff had already completed such a study by autumn 2023. A draft of that study, which was shared with us, shows that increased U.S. LNG exports would have negligible effects on domestic prices while modestly reducing global greenhouse gas emissions. The latter is largely because U.S. LNG exports would displace coal in power production and gas exports from other countries such as Russia...Had Kamala Harris won, Democrats would undoubtedly have used the new study to justify a permanent export ban and we would never have found out about the other study. The LNG two-step is another notable example of how the Biden Democrats tried to deceive Americans. And they wonder why the party’s approval rating is at a record low?"

Energy Markets

 
WTI Crude Oil: ↓ $67.96
Natural Gas: ↑ $3/99
Gasoline: ↑ $3.12
Diesel: ↑ $3.60
Heating Oil: ↓ $224.02
Brent Crude Oil: ↓ $71.77
US Rig Count: ↑ 620

 
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