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DAILY ENERGY NEWS  | 04/21/2025
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I'd like to see how Governor Gavin "podcasts" his way out of this one...


ABC 10 (4/16/25) reports: "In a statement, the San Antonio-based company [Valero] says it submitted a notice to the California Energy Commission of its intent to idle, restructure or cease operations at its Benicia refinery by April 2026. The energy giant says it's exploring options for its California operations and recorded a $1.1 billion pre-tax impairment charge tied to its Benicia and Wilmington refineries. The Benicia facility will be the second California refinery to announce it's planning to close within the last six months. Phillips 66 announced in October 2024 it would shut down its Los Angeles-area refinery, which employed about 600 workers and 300 contractors. California Assembly Republicans say the Valero closure will reduce the state’s gasoline production capacity by nearly 9% and affect more than 400 jobs."

"Under President Donald J. Trump’s leadership, we are unlocking the full potential of our offshore resources to benefit the American people for generations to come." 

 

– Interior Secretary Doug Burgum

A step in the right direction, Europe.


Reuters (4/21/25) reports: "The European Union is looking at ways to make it easier for U.S. gas exports to comply with its methane emissions rules, as the bloc attempts to avert a trade war with U.S. President Donald Trump, three sources familiar with the matter told Reuters. The European Commission is working on its offer for trade negotiations with the United States, to attempt to avoid Trump's planned tariffs - with both sides signalling that energy could form part of a broader trade deal. Trump has said several times the EU should buy more American oil and gas to lower its trade surplus with the United States. European Commission President Ursula von der Leyen has said the EU could increase U.S. LNG purchases, as the bloc seeks to quit Russian gas by 2027. As part of the energy options being explored to aid trade talks with the U.S., the Commission is looking at using flexibilities in how it applies EU methane rules, which could benefit U.S. LNG exporters."

Up in the air...well, not quite.


Wall Street Journal (4/20/25) reports: "Airbus has spent more than $1.7 billion on the project, according to people familiar with the matter, but over the past year concluded that technical challenges and a slow uptake of hydrogen in the wider economy meant the jet wouldn’t be ready by 2035. The setback is a blow for the dream of clean aviation, which governments, investors and customers have pushed the industry to tackle. Airbus says the past five years of work and money haven’t been wasted. The company has established that hydrogen is technically feasible and delaying the project will give it more time to fine-tune the technology, executives said. A hydrogen plane would also require a new supply chain to produce the fuel in large-enough quantities, transport it, and safely store it at airports. Executives at Boeing, which had explored hydrogen for years, were vexed."
Come Fly With Me (2008 Remastered)

Common sense is making a comeback.


The Hill (4/18/25) reports: "The Trump administration announced Friday it was moving to expand offshore drilling, potentially including in the Arctic. In a Friday press release, the Trump administration said it would replace a Biden-era plan for offshore drilling in the years ahead that included the fewest number of opportunities for new drilling in the history of the program. The administration also indicated it was eyeing future drilling off Alaska’s coast in the 'High Arctic' — in contrast with the Biden plan that drilled only in the Gulf of Mexico. It’s not entirely clear where exactly all new drilling will take place under the Trump plan, as the initial step being taken is called a 'request for information,' which seeks to ask the public for input on where and when it should auction off offshore drilling rights."

Energy Markets

 
WTI Crude Oil: ↓ $63.09
Natural Gas: ↓ $3.18
Gasoline: ↓ $3.15
Diesel: ↓ $3.55
Heating Oil: ↑↓ $211.52
Brent Crude Oil: ↓ $66.40
US Rig Count: ↑ 644

 
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