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DAILY ENERGY NEWS | 10/06/2025
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** Sorry EVs, looks like you'll have to compete on a level playing field.
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CNN ([link removed]) (9/29/25) reports: "Sales of electric vehicles in the United States are almost certain to tumble when the $7,500 federal tax credit for EV buyers expires on October 1. But where prices go is less certain. The tax credit, passed by the Biden administration in 2022 to support EVs, is going away Wednesday as part of President Donald Trump’s broad spending and tax bill. The loss will cut into demand for EVs, which means prices in real terms will immediately rise — a concept not lost on the many consumers who rushed to buy EVs in August and September. That surge could result in plunging sales in the final three months of the year. As a result, automakers are weighing where to set sticker prices and incentive levels to maintain demand, which could lead to lower EV prices. But it’s not clear how much total savings the changes will provide, and likely won’t make up for the money lost from the end of the tax credit."
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** "Having these [renewable energy] projects come to fruition is really the only chance we have at insulating people from skyrocketing utility bills year after year. The only way to have a prayer of meeting that demand is through these kinds of clean energy projects."
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– Jess Lee, Senior Advisor, Climate Power ([link removed])
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Looks like people decided they didn't want to throw their money away.
** Bloomberg ([link removed])
(10/3/25) reports: "The world’s biggest climate alliance for banks said on Friday it has ceased operations, bringing to a formal end a project that drew net zero pledges from many of the world’s biggest lenders just four years ago. The Net-Zero Banking Alliance said in an emailed statement that its remaining signatories endorsed a proposal that the coalition no longer exist as a 'member-based alliance.' The guidance NZBA has developed to help banks set targets to reduce their financed emissions over time will remain publicly available, and individual banks can continue to reference these resources to help develop and deliver on their own net zero transition plans, it said."
America's record for saving Europe is about to get even bigger thanks to American LNG.
** Reuters ([link removed])
(10/6/25) reports: "Europe will need to import up to 160 additional liquefied natural gas cargoes this winter due to lower storage and a decline in pipeline flows from Russia and Algeria, according to analysts and data, deepening its dependency on U.S. gas. LNG imports will jump to 820 tankers this year from 660 last year, representing 48% of all EU gas supply, with analysts forecasting need for around 16 billion cubic meters (bcm) this winter. The United States will supply around 70% of Europe's LNG in 2026-2029, up from 58% so far this year, as the EU plans to ban Russian LNG from 2027 and Russian gas from 2028, Energy Aspects analysts said. U.S. gas production and export capacity are surging, while growth from other suppliers will be limited, they said. 'Our dependency on the U.S. will grow,' said an executive at a major European utility, speaking on condition of anonymity, citing limited options to buy gas elsewhere."
Give it your best shot, OPEC, but you can't stop America from taking more market share.
** Wall Street Journal ([link removed])
(10/5/25) reports: "The Organization of the Petroleum Exporting Countries and its allies agreed on a restrained oil output increase on par with earlier moves, a bet that the group can eke out more revenue without causing a crash in prices. The cartel wants to regain market share lost to U.S. shale producers, Brazil and Guyana, and to rein in other OPEC members that routinely exceed production quotas. Lower oil prices also would please President Trump, who repeatedly has called for lower gas prices at the pump. OPEC, which produces up to 40% of the world’s oil, started curtailing production in 2023, in a bid to stabilize prices when economic growth was slowing. The decision at the time drew criticism from the U.S., which accused the group of indirectly supporting Russia’s invasion of Ukraine by keeping oil prices high. The cartel shifted course in April and started rolling back previous voluntary cuts."
Energy Markets
WTI Crude Oil: ↑ $61.42
Natural Gas: ↓ $3.40
Gasoline: ↓ $3.13
Diesel: ↓ $3.67
Heating Oil: ↑ $224.33
Brent Crude Oil: ↑ $65.18
** US Rig Count ([link removed])
: ↑ 589
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