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DAILY ENERGY NEWS | 03/07/2025
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** 38% of the Texan economy, Dude. The bulk of the state economy.
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Rig Zone ([link removed]) (3/7/25) reports: "Payroll in the U.S. oil and gas industry totaled $168 billion in 2024. That’s what the Texas Independent Producers & Royalty Owners Association (TIPRO) said in its latest State of Energy report, which was released this week, highlighting that this figure was 'an increase of nearly $5 billion compared to the previous year.' Texas had the highest oil and gas payroll in the country in 2024, according to the report, which pointed out that this figure stood at $62 billion. The report outlined that California was 'a distant second' with an oil and gas payroll figure of $15 billion, and that Louisiana was third, with an oil and gas payroll figure of $10 billion...The number of U.S. oil and gas businesses totaled 165,110, subject to revisions, TIPRO’s latest report stated. It highlighted that direct oil and natural gas Gross Regional Product exceeded $1
trillion last year and said the U.S. oil and natural gas industry purchased goods and services from over 900 different U.S. industry sectors in the amount of $865 billion in 2024...The report noted that, in 2024, direct Gross Regional Product for the Texas oil and natural gas industry was $366 billion. It added that, 'once you incorporate the typical multiplier of 2.5x, the Texas oil and natural gas industry supported 38 percent of the Texas economy.'"
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** "New York should be grateful that President Trump has come to the rescue, saving New Yorkers from their bureaucrats’ worst instincts."
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– Diana Furchtgott-Roth, The Heritage Foundation ([link removed])
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Imagine the damage if the wind was blowing.
** The Oklahoman ([link removed])
(2/27/25) reports: "A wind turbine mysteriously collapsed Tuesday morning in northern Oklahoma, leaving debris scattered across a field. Firefighters responded to a call around 7:20 a.m. Tuesday about a downed wind turbine on a private farm east of Kildare, a small town in Kay County that is about 115 miles north of Oklahoma City, news outlets report. Kildare fire chief Travis Harris told community news website Kay NewsCow that the residents at least four miles away reported hearing the sound early Tuesday. Officials told FOX25 that the cause of the incident is not yet known. No injuries or fires were reported. Kildare Fire Department officials told Oklahoma City TV station KOCO that the collapse was 'bizarre' because it wasn't a windy day."
🎵 Can you take me higher? To the place with golden LNG terminals. 🎵
** ([link removed])
Fortunately America has ** plenty of resources at home ([link removed])
.
** Northeastern Global News ([link removed])
(2/27/25) reports: "A deal that would give the U.S. a share of Ukraine’s critical raw minerals could set the Eastern European country on a path to peace — but many of the details are still to come...Is the U.S. about to come into a windfall? We spoke to Laura Lewis, a university distinguished professor of chemical and mechanical engineering at Northeastern, who studies critical minerals and their applications...What about rare earths? Does Ukraine have them?
'The evidence for Ukraine having rare earths at all is derived from reports that are at least 50 years old that were conducted by Russia. There really is no significant evidence that Ukraine has them. If they do, and they say that they’re going to now develop this resource, it would require creating a mine, and the mine could take 15-20 years to build. But I do not think rare earth resources will be developed from Ukraine in the short- to mid-term timeframe.'"
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Energy Markets
WTI Crude Oil: ↑ $67.29
Natural Gas: ↑ $4.20
Gasoline: ↓ $3.10
Diesel: ↓ $3.64
Heating Oil: ↑ $224.34
Brent Crude Oil: ↑ $70.46
** US Rig Count ([link removed])
: ↑ 606
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