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DAILY ENERGY NEWS  | 08/04/2025
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Big Green Inc. has finally met its match. 


Fox News (8/3/25) reports: "EPA administrator Lee Zeldin defended his decision to axe an Obama-era rule that allowed the agency to regulate vehicles, airplanes and coal plants in order to combat climate change, vowing he won’t regulate 'entire sectors of the economy' out of existence. Notably, the endangerment finding was part of the basis of the Biden administration’s so-called electric vehicle mandate which would have required over half of all cars sold to be EVs by 2032. Zeldin announced that he was repealing the 'holy grail of the climate change religion' during a speech at an Indianapolis auto dealership in July. He hailed the announcement as the 'largest deregulatory announcement in US history,' and said he was ending over a decade of uncertainty for American automakers and consumers."

"There is incredible demand for US natural gas in New England. Constitution Pipeline could deliver it, but New York has for too long blocked access. This is such a no-brainer that would create jobs, lower energy costs, and reduce our reliance on foreign sources of energy." 

 

– EPA Administrator Lee Zeldin

BP: Back to Petroleum. Time for another logo change? 


Reuters (8/4/25) reports: "BP (BP.L) has made its largest oil and gas discovery in 25 years offshore Brazil, it said on Monday, in a potential big boost for the British company following its strategic shift away from renewable energy to refocus on fossil fuels. BP is seeking to bolster oil and gas in its portfolio to regain investor confidence and revive underperforming shares. It said it planned to create a major new output hub at the Bumerangue discovery in Brazil, which a BP spokesperson said was probably the company's biggest since Shah Deniz in 1999, a gas and condensate field in the Azeri part of the Caspian Sea. Shah Deniz, with around 1 trillion cubic metres of gas and 2 billion barrels of condensate initially in place, produced 28 billion standard cubic metres of gas last year, according to BP. It gave no reserve estimate for the Brazilian block. 'Brazil is an important country for BP, and our ambition is to explore the potential of establishing a material and advantaged production hub in the country,' said Gordon Birrell, BP's production and operations chief."

After this gig, President Trump should run for Governor of California. He's already done more for the state than Governor Gavin. 


Fox News (7/30/25) reports: "The top Republican in the California State Senate praised the Trump administration for stepping in to reboot the Golden State’s 'oil goldmine' off its coast, after a project notably opposed by Sen. Adam Schiff had been shut down since a major pipe failed in 2015. 'California is sitting on an oil gold mine, yet Democrat politicians continue to block responsible production here at home,' Sen. Brian Jones of San Diego told Fox News Digital. 'Instead, they choose to import oil from foreign nations with weak labor protections and poor environmental standards.' As Fox News Digital reported exclusively, the Interior Department shepherded the reopening of the Santa Ynez Unit of the Pacific oil-producing region in recent days, bringing an estimated 190 million barrels of recoverable oil potential online."

Not a good look, India.


Bloomberg (8/4/25) reports: "At least four tankers discharged millions of barrels of Russian crude at Indian refineries at the weekend, a sign the closely scrutinized deliveries are continuing as normal, even as the US ramps up pressure on the South Asian country to stop purchases. Oil traders and shipping companies have been waiting for direction from New Delhi on whether supplies from Moscow will be allowed to continue after US President Donald Trump last week threatened punitive action to curb trade with Russia. Over the weekend, a senior aide accused India of effectively funding President Vladimir Putin’s war in Ukraine. India’s appetite for discounted Russian crude, and its position as the single largest buyer of Moscow’s seaborne oil, has long been a pain point for the US and Western allies. Scrutiny has increased in recent weeks, even before Trump’s latest comments. Nayara was sanctioned by the European Union on July 18 for its links to Russia, prompting the processor to cut run rates and pushing trade partners to seek supplies elsewhere."

Energy Markets

 
WTI Crude Oil: ↓ $65.63
Natural Gas: ↓ $3.00
Gasoline: ↑ $3.15
Diesel: ↓ $3.72
Heating Oil: ↓ $227.41
Brent Crude Oil: ↓ $68.14
US Rig Count: ↓ 569

 

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