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DAILY ENERGY NEWS | 05/21/2025
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** Leadership in action!
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Fox News ([link removed]) (5/20/25) reports: "Senate Republicans indicated that they intend to vote this week on whether to nix California's emissions waiver from the Environmental Protection Agency (EPA), which has allowed the blue state to adopt stricter vehicle emissions standards than those imposed at the federal level, including a mandate that all vehicles sold in the state must be electric by 2035... 'Obviously, the Democrats are going to make a lot of noise,' Thune added during the Tuesday afternoon press conference, referring to the party's criticism of Republicans' procedural maneuvering. 'But the truth of the matter is, this has nothing to do with the legislative filibuster,' Thune continued. 'This is the Congress and the United States Senate submitting to the body the question of whether or not the Government Accountability Office, the GAO, ought to be able to determine for us what it is and
isn't a rule.'"
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** "This isn’t just about cars. It’s about sovereignty. It’s about standing up for our workers, our families, and our economy. The Senate must vote to end California’s overreach—because no state, no matter how big or self-important, should be able to dictate how the rest of us live."
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– ([link removed]) Rep. Josh Williams (R), Ohio House of Representatives, District 44 ([link removed])
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Reminder: the clock is ticking on actual permitting reform.
** Axios ([link removed])
(5/20/25) reports: "U.S. electricity needs are slated to rise 25% by 2030 and 78% by 2050 compared to 2023, sinus-clearing estimates from the consulting firm ICF seen first by Axios show... On the generation side, new power-producing capacity additions need to rise to roughly 80 gigawatts per year from 2025-2045 — around double the pace of the past five years."
Higher demand at lower prices because of more supply.
** OilPrice.com ([link removed])
(5/19/25) op-ed: "Goldman Sachs analysts have revised their outlook for global oil demand upwards, now expecting growth of 600,000 barrels daily this year and 400,000 barrels daily in 2026. The bank, however, maintained its oil price forecast at $60 per barrel of Brent crude and $56 per barrel of West Texas Intermediate for this year, Reuters reported, citing a new note. Brent crude was trading at over $65 per barrel at the time of writing, and WTI was trading at over $62. Goldman’s analysts expect the benchmarks to fall further next year, to $56 for Brent crude and $52 for WTI."
A bridge too far.
** Reason ([link removed])
(5/3/25) reports: "Once a Wall Street buzzword, ESG—Environmental, Social, and Governance—has become a political flashpoint and a corporate headache. Investor enthusiasm for ESG is clearly waning. The Manhattan Institute's Proxy Monitor project has tracked such proposals for years. In 2024, it found that zero environmental or social policy proposals received majority shareholder support at Fortune 250 companies. But that doesn't mean ESG is going away. Instead, it's evolving—and its next battleground could be your favorite candy bar or soda. After years of climate and racial equity-focused proposals, ESG activists are now shifting their attention to nutrition. The latest campaign appears to be against 'unhealthful products.' Academics are branding this movement 'ESG + Nutrition,' arguing that investors should aim to 'align financial returns with benefits for society and the planet.'"
Energy Markets
WTI Crude Oil: ↑ $62.53
Natural Gas: ↑ $3.44
Gasoline: ↑ $3.18
Diesel: ↑ $3.55
Heating Oil: ↑ $214.30
Brent Crude Oil: ↑ $65.87
** US Rig Count ([link removed])
: ↑ 599
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