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DAILY ENERGY NEWS | 06/10/2025
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** Your pleas shall fall upon deaf ears.
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E&E News ([link removed]) (6/10/25) reports: "Senate Democrats are ramping up pressure on Republicans to try to protect swaths of their 2022 climate law as the GOP races to advance their party-line megabill. The situation has Democrats trying to influence legislation they have no intention of supporting. Whether they succeed is another question altogether. The House-passed budget reconciliation bill included a sharp phase down of federal incentives for wind, solar, hydrogen and other energy sources — while sparing biofuels and nuclear power. It also added strict requirements barring companies associated with China from accessing tax credits, a provision which many consider unworkable. Wyden called changing that provision 'hugely important.' In recent weeks, Senate tax writers have been trying to hash out their portion of the legislation, with the self-imposed July 4 deadline fast approaching. The Finance text could
be released later this week or early next."
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** "Thanks to @POTUS, @ENERGY has approved more permits for liquefied natural gas export terminals (5 and counting) in less time than any other administration. Ever."
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– Energy Secretary Chris Wright ([link removed])
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What they meant to say is that without government subsidies, they don't have a business.
** Asbury Park Press ([link removed])
(6/09/25) reports: "A company developing an offshore wind power project for New Jersey has filed a request to cancel its plans, citing economic and political headwinds. Atlantic Shores Offshore Wind, based in Brooklyn, petitioned the New Jersey Board of Public Utilities on June 4 to terminate its OREC order, or Offshore Renewable Energy Certificates order. The company, which is a partnership between power and fuel company Shell and EDF Renewables North America, was in the process of developing a 1.5-gigawatt wind turbine power project east of Atlantic City. 'Due to the uncertainty caused by the Presidential Wind Memorandum, the subsequent loss of the Air Permit, and other actions taken by the current administration more generally, Petitioner’s (Atlantic Shore's) parent company has been forced to materially reduce its personnel, terminate contracts, and cancel planned project investments,' Adam L. Peterson, an attorney for Atlantic Shores, wrote in the OREC filing to the utilities board."
We like a good win-win situation.
** Washington Examiner ([link removed])
(6/09/25) reports: "The U.S. Army Corps of Engineers has determined the Line 5 tunnel project would have a 'beneficial cumulative effect' on Michigan and its environment by reducing the risk of an oil leak. This is according to a recently-released draft environmental impact statement, which examined the pipeline proposal for Line 5. The transmission line owned by Enbridge goes 645 miles from Superior, Wis., through the Straits of Mackinac in Michigan to Sarnia, Ontario. It moves more than 500,000 barrels of oil and natural gas liquids daily. While the report found there might be some 'direct, short-term, detrimental impacts' during construction on the local environment and recreation, most 'environmental consequences would be short-term with the effects resolving once construction is completed.' This would be a long-sought-after upgrade to the pipeline, which has been operated by the Canadian company for 72 years."
C3 Solutions and Institute for Energy Research - Climate Change Superfund Act Webinar.
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Energy Markets
WTI Crude Oil: ↑ $65.50
Natural Gas: ↓ $3.59
Gasoline: ↓ $3.12
Diesel: ↑ $3.50
Heating Oil: ↑↓ $215.37
Brent Crude Oil: ↑ $67.32
** US Rig Count ([link removed])
: ↓ 576
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