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DAILY ENERGY NEWS | 07/22/2025
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** Secretary Duffy is saving Californians from the train to nowhere.
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National Review ([link removed]) (7/18/25) reports: "Secretary of Transportation Sean Duffy has terminated the remaining $4 billion of unspent federal funds for California’s beleaguered high-speed rail project. The move is well justified...When it was sold to Californians 16 years ago, state rail officials presented a business plan that envisioned a sprawling 800-mile network that would first link San Francisco to Los Angeles, with a second phase extending the line to Sacramento and San Diego. The cost of the first segment was projected to be $33 billion and it was supposed to be capable of supporting up to 100 million riders by 2030...If Newsom and California lawmakers had any sense, they would view Duffy’s decision to cut off funding as an act of mercy, and finally pull the plug on this doomed project. If, as early indications suggest, they seek to plow forward, they should waste their own money."
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** "In contrast to apocalyptic sermons, at no point in human history have humans had less risk of death related to extreme weather and climate. Understanding why that is so is central to keeping that trend moving forward into the future."
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– Roger Pielke Jr., The Honest Broker ([link removed])
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Thank you for your attention to this matter!
** Daily Caller ([link removed])
(7/20/25) reports: "President Donald Trump’s plan to slap a 50% tariff on copper imports is exposing the tangled web of regulations that have long stifled America’s ability to mine and refine its critical minerals. The new tariff is set to take effect in August and will target refined and semi-finished copper, which is essential to everything from power grids to military equipment. The move builds on Trump’s June decision to impose 50% tariffs on steel and aluminum, as part of a broader effort to boost domestic mineral production...While the Trump administration is trying to reduce U.S. dependence on foreign copper, experts say a surge in domestic production won’t happen without major regulatory reform. 'If we want to develop a domestic industry, overhauling the permitting process should be the number one priority,' Alexander Stevens, manager of policy and communications at the Institute for Energy Research, told the Daily Caller News Foundation...In 1997, there were 35 mines and 11
smelters in the U.S., according to Bloomberg. Today, there are just 25 mines and three smelters. 'Most of that is due to the web of overlapping federal laws: National Environmental Policy Act (NEPA), Clean Water Act, Endangered Species Act. Each of those has lengthy public review processes, and each of those processes invites litigation, which stretches out the permitting processes even longer,' said Stevens."
Simple question. Revealing answer.
** ([link removed])
Moving beyond "beyond petroleum."
** Wall Street Journal ([link removed])
(7/21/25) reports: "BP named Albert Manifold as its new chairman, as the British energy giant continues to revamp its board and implement a new strategy in an attempt to boost its share price. The company said Monday that Manifold, former chief executive officer of Irish building-materials supplier CRH, would replace current chairman Helge Lund from the start of October. Lund, who is regarded as one of the key architects of BP’s now jettisoned strategy, had announced he was stepping down in early April. The appointment comes at a time when BP is re-embracing fossil fuels and after activist investor Elliott Management took a stake in the company with a view to pushing for significant changes...BP formally abandoned its old strategy in late February and is now looking to expand upstream production while boosting cash flow and shareholder returns."
Energy Markets
WTI Crude Oil: ↓ $66.99
Natural Gas: ↓ $3.24
Gasoline: ↑ $3.14
Diesel: ↑ $3.73
Heating Oil: ↓ $246.74
Brent Crude Oil: ↓ $69.02
** US Rig Count ([link removed])
: ↓ 575
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