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DAILY ENERGY NEWS  | 04/28/2025
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Sorry Gavin, you're the problem.


Wall Street Journal (4/27/25) opinion: "Say this for Gavin Newsom, he’s a master of misdirection. California is losing jobs—54,800 during the first three months of this year. Valero this month announced plans to close a major refinery, portending gasoline shortages and price spikes. Insurance and electricity rates are soaring. Filling up a Jeep will cost you $100. Charging a Tesla isn’t much cheaper since California’s electricity rates are double the rest of the country’s and continue to climb owing to Mr. Newsom’s reckless climate policies. Pacific Gas & Electric recently proposed another rate increase, following six last year. Nearly 1 in 5 households is behind on utility payments. Fossil-fuel workers are becoming an endangered species in the state owing to predatory government policies that are effectively outsourcing energy jobs. California’s oil production has fallen by a third under Mr. Newsom. The state is importing more oil from the Middle East and South America. Brazil’s leftist leaders send their thanks."

"We are cutting through unnecessary delays to fast-track the development of American energy and critical minerals—resources that are essential to our economy, our military readiness, and our global competitiveness." 

 

– Interior Secretary Burgum

Maybe people won't have to escape from New York as soon as we thought.


Just the News (4/26/25) reports: "The Empire Center for Public Policy found 60% of respondents are either unwilling to pay for clean energy or would contribute only a modest amount — less than $10 per month. Meanwhile, only 3% to 5% of respondents are open to spending $200 or more each month on clean energy, according to the survey, conducted by Morning Consult. 'When choosing between reducing greenhouse gas emissions and keeping energy affordable, the same proportion — three-fifths — favor emission reduction efforts, as long as they don't result in price increases,' Zilvinas Silenas, the center's president, said in a statement. 'This preference holds true across all demographics, including age, income, and political affiliation.' Twenty percent of those surveyed said they want lower energy costs even if it results in higher greenhouse gas emissions, pollsters found. Republican voters were even more likely to support that notion, with 30% preferring cheaper energy over meeting emissions reduction targets."

All options should have always been on the table.


CNBC (4/26/25) reports: "Amazon and Nvidia told a room of oil and gas executives [last] week that all options are on the table to power artificial intelligence including fossil fuels such as natural gas. The tech and energy industries gathered in Oklahoma City at the Hamm Institute for American Energy to discuss how the U.S. can meet the growing energy needs for AI data centers. The Big Tech companies have invested mostly in renewable power in an effort to slash their carbon dioxide emissions, but they are now navigating a changed political environment. President Donald Trump has ditched U.S. commitments to fight climate change as he seeks to increase fossil fuel production, particularly natural gas. There is now growing public acknowledgment from the tech industry that gas will be needed, at least in the near term, to help fuel AI."

Ol' Reliable.


Forbes (4/22/25) article: "While renewable energy sources such as wind and solar were once seen as the future of energy, they are currently facing significant challenges. Their growth has slowed due to high costs, inefficiencies, and issues related to energy storage. These challenges are leading to a decrease in investment in renewables, as companies and governments look for more reliable and affordable energy solutions. In contrast, natural gas offers a more consistent and cost-effective option for power generation. As the renewable energy sector struggles, the oil and gas industry can capitalize on this gap in the market by supplying the energy needed to meet growing demand. Natural gas remains a cornerstone of global energy production, and with the slowdown in renewable energy growth, companies stand to gain from their natural gas assets. By capitalizing on the rising demand and leveraging technological innovations, energy companies will be poised for continued success in the energy sector."

Energy Markets

 
WTI Crude Oil: ↑ $62.66
Natural Gas: ↑ $2.94
Gasoline: ↓ $3.14
Diesel: ↓ $3.53
Heating Oil: ↑ $216.13
Brent Crude Oil: ↑ $66.51
US Rig Count: ↑ 632

 
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