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DAILY ENERGY NEWS | 05/06/2025
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** They keep using that word...I don't think they know what it means.
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New York Times ([link removed]) (5/5/25) reports: "Eighteen states sued the Trump administration Monday over its halting of permits for wind-energy projects, arguing that its actions posed an existential threat to the burgeoning industry. The halt on federal permits for wind energy was first laid out in a Jan. 20 executive order, one of a barrage that President Trump signed immediately upon taking office. It directed agencies to stop all permits for wind farms pending federal review. The lawsuit says that, by complying, federal agencies have put major investments that have already been made at risk. The order also instructed the United States attorney general and the interior secretary to explore 'terminating or amending' existing leases to wind farms, further increasing uncertainty for companies."
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** "We aren’t stopping at energy independence; the goal is energy dominance. The United States will serve as THE example of strong, reliable, affordable, and secure energy for the rest of the world."
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– Energy Secretary Chris Wright ([link removed])

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Gulf of America really does have a nice ring to it.

** ([link removed])
Gulf of America can produce 2 million barrels of oil per day, report shows.

Looks like Alberta oil wants to be American.

** Wall Street Journal ([link removed])
(5/5/25) reports: "Sunoco moved to expand its reach with a $9.1 billion deal to buy Canada’s Parkland, bringing with it a fleet of gas stations and a west-coast refinery. The companies said Monday they reached a definitive agreement that will see Parkland shareholders receive a mix of cash and shares. Sunoco has made a number of commitments with its offer to continue investing in Canada, including a pledge to maintain Parkland’s Canadian headquarters in Calgary, Alberta, and significant employment levels in the country. Under the terms of the agreement, Sunoco will form a new publicly-traded business named SUNCorp that will hold limited partnership units of its parent that will be equivalent to Sunoco shares."

Keep up the pressure, Mr. President.

** Reuters ([link removed])
(5/6/25) reports: "U.S. President Donald Trump said Moscow and Kyiv want to settle the war in Ukraine and that Russian President Vladimir Putin was more inclined towards peace after the recent fall in the price of oil. 'I think Russia with the price of oil right now, oil has gone down, we are in a good position to settle, they want to settle. Ukraine wants to settle,' Trump told reporters in the Oval Office on Monday. The price of oil - which drives the Russian economy - has fallen around $15 a barrel since the start of the year. OPEC+ will accelerate oil output hikes, sources told Reuters. The Kremlin, asked on Monday about a possible meeting between Trump and Putin in Saudi Arabia, said that a meeting was necessary but that Putin had no trips to the Middle East planned for mid-May. Trump has said he plans to visit Saudi Arabia as early as May."
** ([link removed])
Queen - Under Pressure 1982

Energy Markets


WTI Crude Oil: ↑ $59.22
Natural Gas: ↑ $3.57
Gasoline: ↓ $3.15

Diesel: ↑ $3.54
Heating Oil: ↑ $201.89
Brent Crude Oil: ↑ $62.24
** US Rig Count ([link removed])
: ↓ 603



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