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DAILY ENERGY NEWS | 10/10/2025
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** America First in action.
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CFACT ([link removed]) (10/9/25) blog: "For a good laugh, turn to page 42 of the report President Donald Trump’s Energy Department released in July. On this page, the huge gulf between climate modeling and observed warming comes into sharp focus. The report includes a chart of all 36 climate models, as well as the warming that actually occurred from 1973 to 2022 in the U.S. Corn Belt. The big red bars represent what the models predicted for the twelve Midwestern states that make up the Corn Belt, while the tiny blue bar represents the observed amount of warming. Look for yourself. We are not talking about some narrow disparity that could be explained away through subsequent studies and minor recalibrations. A chasm has emerged between what global warming alarmists have been telling us for years and what rigorous scientific study actually demonstrates...In the same press release announcing its
decision to uproot the Endangerment Finding, the EPA also said that if its reversal is finalized, the American people could expect to save $54 billion in annual costs through the repeal of greenhouse gas standards. There’s an argument to be made that Trump’s decision to move against the Endangerment Finding makes his entire presidency worthwhile just by itself. But there are others worth noting. Tom Pyle, the president of the American Energy Alliance, was pleased to see the 'One Big Beautiful Bill' take down what he calls 'market-distorting subsidies' for wind and solar schemes. Pyle also credits Trump for withdrawing from the Paris Climate Agreement. 'The Paris Agreement was a bad deal from the start,' Pyle said in a press release. 'It committed the U.S. to unilateral economic disarmament by saddling the economy with unnecessary regulations and would have driven energy costs sky-high for American families.'"
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** "Wind and solar are not strong enough to power the industrial growth needed to lift nations out of poverty."
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– Diana Furchtgott-Roth, The Heritage Foundation ([link removed])

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It's called a market signal.

** Issues & Insights ([link removed])
(10/9/25) editorial: "October is a month for political surprises, it’s been said. But one turn of events this month was not the least bit shocking. We’ve been following the flameout of the electric vehicle for years. It was quite predictable. Up until Oct. 1, Americans could reel in generous federal subsidies in exchange for buying an electric vehicle. A new EV or plug-in hybrid pulled down a $7,500 tax credit. A used EV or plug-in got $4,000. Now those subsidies are gone, thanks to the One Big Beautiful Bill signed by President Donald Trump on July 4, and EV sales are expected to slip, even 'crater,' the experts told one media outlet. Ford grimly said it is anticipating that EV demand will collapse by half this month...'EV adoption has stalled at under 10% of new vehicle sales in 2025, well below projections used to set current standards,' reports Advanced Clean Tech News, and is also 'far below the Biden administration’s projected path toward 50% market share by 2030,' says the Institute
for Energy Research. It seems that there is a cost to virtue-signaling and for some it’s so high they are unwilling to pay it."

So much for a "transition" fuel.

** Oil Price ([link removed])
(10/10/25) reports: "Total open interest in Europe’s benchmark gas futures surged to a record high this week, exchange data compiled by Bloomberg showed on Friday, in a sign that the lull in European gas trading could be over with the colder weather. The market has become more liquid in recent days, and Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, early this week broke out of the narrow trading range they have stayed for months. The prices jumped on Monday, as traders expect colder temperatures to raise heating demand across Europe as soon as next week...This summer, LNG demand in Asia has been tepid, allowing Europe to draw a lot of U.S. LNG cargoes. The weakness in Asian LNG demand has been welcome news for Europe as the EU scrambles to fill up inventories going into the winter. Yet, some traders are betting that Europe’s natural gas prices would surge by 60% from current levels by next summer, amid many uncertainties on the market months from now."

Green is the new Red.

** Daily Caller ([link removed])
(10/9/25) reports: "China announced new export controls Thursday on critical minerals vital to high-tech manufacturing, escalating tension with the United States just weeks before President Donald Trump is expected to meet with Chinese President Xi Jinping. Rare earths — a group of 17 metallic elements integral to the production of vehicles, weapons systems, wind turbines, smartphones, medical devices and other advanced technologies — have become a central issue in the U.S.-China trade negotiations. Despite their strategic and commercial importance, the U.S. imports 80% of the rare earths it consumes, primarily from China, which dominates global rare-earth mining and 92% of refining capacity.cUnder the new rules, foreign suppliers must obtain Beijing’s approval to export any product made with China’s rare-earth processing technology or containing rare-earth materials that make up as little as 0.1% of the item’s value, according to The Wall Street Journal. Beijing announced the measures as
President Donald Trump and Chinese President Xi Jinping prepare for high-level talks, beginning with a summit in South Korea in late October."

Energy Markets


WTI Crude Oil: ↓ $60.15
Natural Gas: ↓ $3.18
Gasoline: ↓ $3.10

Diesel: ↓ $3.67
Heating Oil: ↓ $223.78
Brent Crude Oil: ↓ $63.84
** US Rig Count ([link removed])
: ↓ 569



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