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DAILY ENERGY NEWS | 04/14/2025
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** You would think by now that General Motors would have a general sense of what the market actually wants.
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USA Today ([link removed]) (4/13/25) reports: "General Motors’ all-electric CAMI Assembly plant in Ontario is halting production of BrightDrop delivery vans, Unifor said Friday. Unifor is Canada’s largest private sector union, representing 320,000 workers. The company will initiate temporary layoffs starting April 14 and production will stall for three weeks, Mike Van Boekel, plant chair for Unifor Local 88, which represents hourly workers at CAMI, told the Detroit Free Press. GM has tried and failed to gain ground against competitors, including Ford and Rivian, in the electric van space, an effort further hindered by the vehicle’s high price tag. Part of the reason BrightDrop sales are lagging in the U.S. is the comparatively high price tag to nearest competitors. Before incentives, the vehicles cost about $74,000. Ford's E-Transit van with extended battery range, for example, is $51,600 — more than
$20,000 cheaper — even before applying incentives."
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"Coal is a triple win for America! We can use it to power our electric grid, create steel, and extract critical minerals needed for defense and technology."
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– Interior Secretary Doug Burgum ([link removed])
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It's called the Keystone State for a reason...
** Washington Examiner ([link removed])
(4/11/25) reports: "If Pennsylvania were an independent country, it would now rank as the fifth-largest gas producer behind the U.S., Russia, Iran, and China. It is the second-largest net supplier of total energy to other states in the country. In an interview with the Washington Examiner, Burgum said Pennsylvania was at the forefront of supplying energy to the country’s first Industrial Revolution when oil was struck in Titusville in the 1850s. This discovery powered the machinery and innovations that built this country well into the 20th century. Now, Burgum said, Pennsylvania is at the forefront of supplying energy for the second Industrial Revolution, which he said is the artificial intelligence race. 'The race for AI dominance is the new arms race, and it is a race the United States must win,' Burgum said, adding that it starts here."
The peak oil theory is pure bunk. Period. Full stop.
** Wall Street Journal ([link removed])
(4/14/25) reports: "BP said it has discovered oil at the U.S. Far South prospect in the Gulf of Mexico at a time when the British energy major is growing upstream production under a reset strategy. BP said Monday initial data shows high-quality reservoirs and a potentially commercial volume of hydrocarbons. The exploration well is approximately 120 miles off the coast of Louisiana and was drilled to total depth of 23,830 feet, BP said. The discovery demonstrates BP’s increased investment in exploration and strengthens its upstream portfolio, the company said."
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Depeche Mode - Just Can't Get Enough (Remastered) 1981
The "fragility" of Europe's energy security is wholly a problem of their own making.
** Reuters ([link removed])
(4/14/25) reports: "More than three years after Russia's invasion of Ukraine, Europe's energy security is fragile. U.S. liquefied natural gas helped to plug the Russian supply gap in Europe during the 2022-2023 energy crisis. Against this backdrop, executives at major EU firms have begun to say what would have been unthinkable a year ago: that importing some Russian gas, including from Russian state giant Gazprom, could be a good idea. That would require another major policy shift given that Russia’s invasion of Ukraine in 2022 made the European Union pledge to end Russian energy imports by 2027. Europe has limited options. Talks with LNG giant Qatar for more gas have stalled, and while the deployment of renewables has accelerated, the rate is not fast enough to allow the EU to feel secure. 'If there is a reasonable peace in Ukraine, we could go back to flows of 60 billion cubic metres, maybe 70, annually, including LNG,' Didier Holleaux, executive vice-president at France's Engie, told
Reuters in an interview."
Energy Markets
WTI Crude Oil: ↑ $62.35
Natural Gas: ↑ $3.55
Gasoline: ↓ $3.18
Diesel: ↓ $3.57
Heating Oil: ↑ $210.36
Brent Crude Oil: ↑ $65.64
** US Rig Count ([link removed])
: ↑ 630
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