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DAILY ENERGY NEWS  | 06/20/2025
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Many people are saying "Climate Superfund" laws are the next big issue.


WWLP (6/18/25) reports: "Laws passed in two northeastern states attempting to ding energy companies for years of greenhouse gas emissions are fraught with technical and legal challenges, according to energy industry experts and leaders. New York and Vermont passed “climate change superfund acts” in 2024, which require major fossil fuel producers to pay billions in financial damages into climate response funds. The funds support state climate adaptation projects as a payment for decades of emissions that have impacted each state. 'The basic rationale, they claim anyways, is to hold companies financially accountable for historical contributions to climate change. They’re designed, in essence, to retroactively assign liability and sidestep federal jurisdiction on some of these issues,' American Energy Alliance President Tom Pyle said Tuesday while moderating a webinar panel about the policies."

"The One Big Beautiful Bill rescinds the BILLIONS of taxpayer dollars from initiatives that only raised costs and reduced reliability. Our energy policy should be driven by what works best for the American people – not political agendas." 

 

– Energy Secretary Chris Wright

Goofy Gavin needs a remedial civics class.


Real Clear Energy (6/18/25) article: "Gov. Gavin Newsom's doppelganger came and went very quickly. If you missed it, that was the version of Newsom posturing as a moderate bravely willing to antagonize the extreme left of his own Democratic Party...Yes, the California governor is clearly gearing up for a 2028 presidential run that necessitates feigned policy pivots. But the problem now is that the real Gavin Newsom has suddenly reemerged...Tom Pyle, president of the Institute for Energy Research, a free-market advocacy group, has described the CRA as a 'great piece of legislation' that can be used to 'rein in a runaway bureaucracy and restore constitutional checks and balances.' Newsom feels differently...In a press release, Newsom called the Senate's actions illegal. He has also vowed to sue the Trump administration over—well, what exactly? That's the question Kenny Stein, IER's vice president of policy, has been asking himself. But if Newsom persists in challenging how the CRA was used, Stein envisions a scenario where the California governor could open "a can of worms for himself" that boomerangs on the special favors California has been receiving. 'I have no idea what Newsom's claim is going to be,' Stein said in an interview. 'You can't just sue because you don't agree with a policy that's not how the courts work, and that's not the way our system works.'"

With gas prices trending down everywhere else, California does the only reasonable thing and slaps a new tax on drivers.


Center Square (6/18/25) reports: "State Senate Minority Leader Brian Jones, R-San Diego, has requested a state audit into the California Air Resources Board regarding its decision to overhaul its Low Carbon Fuel Standard program, which is expected by some to raise gasoline prices up to 65 cents per gallon when it takes effect July 1. A separate gas excise tax increase will also take place July 1 amid possible disruptions to California’s Middle Eastern fuel supplies, which could push prices even higher for consumers during the peak summer driving season. Compliance costs for this program could also impact fuel prices in the parts of Nevada and Arizona that rely on California refineries for fuel. 'This is the absolute worst time for Gov. Newsom to hit Californians with a double whammy at the gas pump: a 65-cent price hike through the LCFS and yet another gas tax increase,' Jones told The Center Square. 'As global tensions escalate, California’s dependence on imported fuel leaves us dangerously vulnerable to even greater price spikes. And with a fifth of our in-state refining capacity set to shut down, we’ll be forced to rely even more on foreign sources.'”

The best way to keep energy prices low for American families is to produce more at home.


RigZone (6/19/25) reports: "Oil edged higher, paring earlier gains, after the White House said President Donald Trump would decide within two weeks whether to strike Iran, reducing speculation that the US would plunge into the conflict imminently. West Texas Intermediate’s more-active August futures were up 0.5% to around $74 a barrel after White House Press Secretary Karoline Leavitt made the comments on Trump’s timeline for the decision at a White House press briefing. The contract had approached $76 earlier in the session on reports that senior US officials had said the administration was preparing for a possible strike on Iran in the coming days. The White House comments take 'some of the immediate pressure off,' said Robert Yawger, director of the energy futures division at Mizuho Securities USA. 'It looks like US involvement will not happen today or tomorrow.' That delay in potential direct US participation in the conflict may prevent crude from reaching new highs, Yawger said. Still, crude remains markedly higher than before Israel first struck Iran earlier this month, with volatility spiking, options getting more bullish and premiums for nearby crude prices soaring over later ones."

Energy Markets

 
WTI Crude Oil: ↑ $75.33
Natural Gas: ↑ $4.01
Gasoline: ↑ $3.21
Diesel: ↑ $3.65
Heating Oil: ↑ $258.62
Brent Crude Oil: ↓ $76.56
US Rig Count: ↑ 581

 
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