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DAILY ENERGY NEWS | 06/17/2025
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** If only the timeline was an immediate end to tax credits.
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Reuters ([link removed]) (6/16/25) reports: "A U.S. Senate panel proposed a full phase-out of solar and wind energy tax credits by 2028 but extended the incentive to 2036 for hydropower, nuclear and geothermal energy, which are favored by President Donald Trump's administration, according to a draft bill circulated on Monday. The draft bill, part of a sprawling Republican budget package, made several changes that clean energy advocates pressed for to a bill passed in the House last month. But industry representatives said the text did not go far enough to preserve their sector's key incentives. The language released by the committee chair, Republican Senator Mike Crapo, envisages phasing out subsidies enshrined by the Biden-era 2022 Inflation Reduction Act for solar and wind in 2026 by reducing the incentive to 60% of its value and ending it by 2028. Under current law,
the tax credits would not start phasing out until 2032. In a change from the House bill, the Senate would grant 100% of the credit to hydropower, nuclear and geothermal facilities until 2033, then phase it out to zero by 2036, according to the draft."
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** "… fewer renewable energy resources in the ERCOT region could mean higher electricity bills, a less reliable power grid and a slowing of the transition to cleaner forms of energy."
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– Claire Hao, Houston Chronicle ([link removed])

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Welcome to the last frontier, Mitsubishi.

** Oil Price ([link removed])
(6/17/25) article: "Mitsubishi Corp., a major player on the global LNG market, recently indicated it might become an investor in the Alaska LNG project—a priority energy project for the Trump administration. Mitsubishi is already one of the five joint venture partners in the LNG Canada project on the country’s West Coast, which is nearing completion and set to ship out its first LNG export cargoes by the middle of this year. The Alaska LNG project would also be close to Japan and other Asian markets, Alaska Governor Mike Dunleavy and state officials said as they toured north Asia earlier this year in a bid to attract Asian investors in the project. The Japanese conglomerate, meanwhile, hold stakes in LNG projects around the world, including Russia, Malaysia, Oman, Australia, and the United States."

Feels great to have confidence in leadership again.

** ([link removed])

Don't worry Europe, America has all the LNG you need.

** Wall Street Journal ([link removed])
(6/17/25) reports: "European natural-gas prices rise in early trading as investors closely watch the latest developments in the Middle East, fearing it could escalate into a wider war and disrupt supplies. 'Similar to oil, the biggest concern is that a further escalation would disrupt the Strait of Hormuz,' ING analysts say. 'Qatar, which makes up around 20% of global LNG trade, uses this route to export LNG. There is no alternative route.' For now, physical deliveries of LNG cargoes appear largely unaffected, with the only disruption stemming from navigational signal interference in and around the Persian Gulf, according to market watchers. Traders are also monitoring the situation in Israel after at least two gas fields supplying gas to Egypt have been closed."

Energy Markets


WTI Crude Oil: ↑ $73.07
Natural Gas: ↑ $3.80
Gasoline: ↑ $3.16

Diesel: ↑ $3.56
Heating Oil: ↑↓ $245.61
Brent Crude Oil: ↑ $74.68
** US Rig Count ([link removed])
: ↓ 577



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