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DAILY ENERGY NEWS  | 05/20/2025
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It's so good to see the triumph of common sense.


Department of Energy (5/19/25) reports: "The U.S. Department of Energy (DOE) [yesterday] released its Response to Comments on the 2024 LNG Export Study, marking a critical step toward returning to regular order on liquefied natural gas (LNG) exports. With this action, DOE has completed the final hurdles left over from the Biden administration’s reckless pause on LNG export permits, paving the way for the Trump Administration to fully unleash American LNG exports. In sum, DOE concludes that the complete record from the 2024 LNG Export Study, inclusive of the Study, the comments received, and this Response to Comments, supports the proposition that exports of LNG from the United States are in the best interest of the American public. With the public comments to the 2024 LNG Export Study now addressed, DOE will proceed with issuing final orders on pending applications to export U.S.-sourced natural gas as LNG to non-free trade agreement countries."

"The Midwest is very biofuels and wind oriented. Wind is fairly established so some normalization can occur. But the Midwest needs the biofuels energy to thrive or we are facing an ag recession." 

 

– Rep. Don Bacon on phasing out green energy tax credits

Don't mess with Texas.


Texas Tribune (5/20/25) reports: "As wind turbines and solar panels spread through farmland in Central Texas, Robert Fleming has made it his calling to stop them. Four years ago, the 61-year-old convinced a school board in Troy not to approve a tax incentive for a renewable energy company. When Bell County commissioners considered a similar tax break a year later, he showed up to the commissioners court with reinforcements, urging them to reject a company’s request. He failed. Landowners, including those in rural Texas, have profited from turning their land over to renewable energy companies, in some instances making enough money to retire. However, resistance to expanding renewables has gained some traction in the areas where the industry has established itself. In East Texas, for example, residents said they were alarmed at the growing interest in solar and battery facilities out of fear that they would harm the environment. Other landowners interviewed for this article said they worried about the industry’s growing footprint on land historically used for agriculture."

Glad to see Indonesia is coming around.


OilPrice (5/20/25) reports: "U.S. energy giant Chevron is exploring a return to Indonesia's upstream oil and gas sector, following its 2023 exit from the Indonesia Deepwater Development (IDD) project. According to SKK Migas chairman Djoko Siswanto, Chevron is currently evaluating assets with potential reserves of around 15 trillion cubic feet of gas, primarily in Bali and eastern Indonesia. Chevron has confirmed ongoing engagement with SKK Migas but declined to provide details. Indonesia is actively marketing its underexplored oil and gas blocks to attract global investment. The Ministry of Energy and Mineral Resources (ESDM) has identified 60 potential blocks, which it plans to auction simultaneously. These include unexplored wells with promising reserves. The renewed interest comes amid Indonesia’s efforts to boost exploration and production, following past setbacks such as Chevron’s withdrawal from IDD and Shell’s exit from the Masela Block. By re-engaging energy majors and offering sizable new acreage, Indonesia aims to revitalize its oil and gas sector and attract billions in foreign direct investment."

Guess it's time to abandon ship.


Wall Street Journal (5/17/25) reports: "General Motors went all in on electric cars. Now it is racing to reverse the nation’s most aggressive EV mandate. 'We need your help!' GM said in an email it sent this past week to thousands of its white-collar employees. 'Emissions standards that are not aligned with market realities pose a serious threat to our business by undermining consumer choice and vehicle affordability.' But the EV market has taken a turn. Three years ago, U.S. automakers couldn’t keep up with demand; now EV sales are beginning to sputter. Discounts are drying up, car buyers are seeking lower-priced alternatives, and Congress is looking to roll back tax credits that for years have powered electric-vehicle sales. Even in California, America’s EV market leader, sales are below the state’s own targets. Under the rule, in 2026, sales of zero-emissions vehicles should account for 35% of all vehicle sales. Right now, they account for 20% of the state’s automobile market. EV sales fell 5% in April while the wider U.S. car market grew by 10%, according to estimates from research firm Motor Intelligence. Currently, EVs make up 7% of the U.S. market."

Energy Markets

 
WTI Crude Oil: ↑ $62.55
Natural Gas: ↑ $3.22
Gasoline: ↑ $3.22
Diesel: ↑ $3.54
Heating Oil: ↓ $212.70
Brent Crude Oil: ↑ $65.60
US Rig Count: ↓ 599

 
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