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DAILY ENERGY NEWS  | 06/27/2025
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Unfortunately, nothing surprises us about California's bad decisions anymore.


Fox News (6/26/25) opinion: "California drivers are about to get hit – again – at the pump. On July 1, gas prices are set to rise thanks to Gov. Gavin Newsom’s relentless climate crusade when higher gas tax and stricter fuel regulations take effect, punishing working families under the guise of environmental virtue. Despite our state's plentiful oil reserves, Californians are forced by Democrat 'climate' policies to pay the nation’s highest gas prices (now around $5.00 per gallon), surpassing even Hawaii, in the middle of the Pacific Ocean. Three-dollar gas is within reach. That would make a huge difference to so many working-class Californians and small businesses. It’s not complicated. It’s just positive, pragmatic policymaking. It's what happens when you stop letting ideologues and 'climate' zealots run the show. Newsom, Harris and the rest of the California Democrats want you to believe their green crusade is noble, but it’s a cruel hoax. They’re chasing refineries out of California, shutting down our cleaner in-state oil production, and piling on regulations that make life unaffordable. Meanwhile, they jet around in private planes and travel in motorcades—hypocrisy at its finest."

"The Gulf of America Outer Continental Shelf is estimated to contain around 48 billion barrels of undiscovered, recoverable oil & 141 trillion cubic feet of natural gas. Responsible usage of these assets helps keep energy prices low & inflation even lower." 

 

– Interior Secretary Burgum

All the more reason to repeal the entire IRA.


Forbes (6/27/25) reports: "The United States has made clear its appetite for partnerships in the critical minerals sector and is keen to compete with China and create a supply chain that Beijing does not control. Washington’s actions stretching back through multiple administrations, however, create a difficult environment for mineral-rich countries that seek investment but are not amongst the partners of the U.S. with a free trade agreement. The Inflation Reduction Act, which aimed to build a clean energy supply chain through ‘friendshoring’ associated materials by offering tax credits for clean energy products manufactured with components sourced from countries with a free trade agreement with the U.S. This excludes several key producers of critical minerals, like the Democratic Republic of the Congo, Indonesia, Kazakhstan, South Africa, Vietnam, and the that do not have FTAs. Although several waivers have been signed to make exceptions to this provision, this is insufficient to create a reliable investment landscape in these countries. Unsurprisingly, investors are hesitant about investing in a place that requires yearly congressional action."

No gracias, Russia.


Oil Price (6/25/25) opinion: "A few days ago, Russia offered to supply liquefied natural gas to the United States’ neighbor, Mexico. Because of the strategic, economic and geopolitical implications, the move quickly made sector analysts sit up and take note Media reports quoted Russia’s Energy Minister, Sergei Tsivilev, as saying that the country was already working with Mexico in other sectors. Now it was offering to share its liquefied natural gas technologies as well as to supply LNG directly. Russia’s announcement is thus very significant for two reasons. The first is the major role that the U.S. plays in supplying energy to Mexico. The second is that in May of this year, Pemex, Mexico’s state oil company, announced it was working to restart shut oil wells in an effort to push production. The firms stated at the time that this was to meet the Mexican government’s output target of 1.8 million barrels per day. About one-third of Pemex’s 3000 plus wells in Mexico are currently shut down."

Since support for renewables is clearly waning, let's refocus on what actually works.


Associated Press (6/23/25) reports: "Americans’ support for green energy tax credits and renewable energies like wind and solar power has decreased in recent years, according to a new poll, driven by a softening in support from Democrats and independents. The poll from The Associated Press-NORC Center for Public Affairs Research finds that U.S. adults’ support for tax credits for electric vehicles and solar panels has weakened, as well as their enthusiasm for offshore wind farm expansion. While Democrats remain the strongest supporters of these initiatives, the poll reveals signs of growing cynicism within their ranks. Fewer than half of U.S. adults, 44%, now say that offshore wind farms should be expanded in the U.S., down from 59% in 2022. About half favor expanding solar panel farms, while about two-thirds were in support in 2022. When people are concerned about the economy and their personal finances, environmental issues are sometimes prioritized less, said Talbot Andrews, an assistant professor in the department of government at Cornell University who was not involved in the poll."

Energy Markets

 
WTI Crude Oil: ↑ $65.71
Natural Gas: ↑ $3.67
Gasoline: ↓ $3.20
Diesel: ↓ $3.71
Heating Oil: ↓ $232.38
Brent Crude Oil: ↓ $68.03
US Rig Count: ↓ 578

 
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