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DAILY ENERGY NEWS | 06/02/2025
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** President Trump's relentless focus on securing Alaska's energy future is an absolute breath of fresh air.
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Alaska News Source ([link removed]) (6/1/25) reports: "The Trump administration is sending three Cabinet members to Alaska this week as it pursues oil drilling in the pristine Arctic National Wildlife Refuge and reinvigorating a natural gas project that’s languished for years. The visit by Department of Interior Secretary Doug Burgum, Energy Secretary Chris Wright and Environmental Protection Agency Administrator Lee Zeldin comes after Trump signed an executive order earlier this year aimed at boosting oil and gas drilling, mining and logging in Alaska. It also comes amid tariff talks with Asian countries that are seen as possible leverage for the administration to secure investments in the proposed Alaska liquefied natural gas project. Government and industry representatives from a number of Asian countries, including Japan, are expected to participate in a portion of the trip, reflecting
pressure from the U.S. to invest in the pipeline — despite skepticism and opposition from environmental groups."
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** "This administration will not sit back and allow dangerous energy subtraction policies threaten the resiliency of our grid and raise electricity prices on American families."
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– Energy Secretary Chris Wright ([link removed])
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Seems like everyone is getting renewable buyers remorse.
** Wall Street Journal ([link removed])
(5/31/25) reports: "Sentiment regarding renewable energy has soured. President Trump has spent much of this term dismantling his predecessor’s efforts to foster renewable-energy development in favor of fossil fuels. Trump temporarily stopped work on a big wind project off New York’s coast to force state officials to reconsider left-for-dead gas-pipeline proposals he promised to revive. His tax-and-spending bill making its way through Congress would end incentives for residential solar projects and phase out those for larger arrays by 2028, instead of 2031. The Southern solar boom began in Texas and Florida and then spread. The Southeast has sunshine, flat land and large landowners looking for ways to make money besides growing pine trees. Millions of acres from Virginia to Florida and west to Texas were planted with pine in the 1980s, when crashing crop prices prompted the government to pay Southern landowners to grow wood for mills instead. A glut of pine was ready to cut when the housing
market crashed in 2008, and prices for logs have been depressed ever since, languishing no matter how high lumber prices climb."
Don't worry Germany, America has all the LNG you need.
** Politico ([link removed])
(5/28/25) reports: "German Chancellor Friedrich Merz vowed to do everything within his power to ensure 'that Nord Stream 2 cannot be put back into operation' during a joint press conference with Ukrainian President Volodymyr Zelenskyy in Berlin. Ensuring Nord Stream 2 cannot be put back into use will 'weaken Moscow's war machine' and 'open the way for negotiations,' said Merz on Wednesday. The Nord Stream pipelines had long been a source of tension between Germany and Ukraine. Ukrainian officials long argued that Germany's purchase of cheap Russian gas emboldened Putin and helped fund Moscow's war machine."
Read the tea leaves, Governor Shapiro.
** Real Clear Energy ([link removed])
(5/30/25) opinion: "Gov. Josh Shapiro is a classic political flip-flopper. And his latest energy proposals demonstrate his wishy-washiness. When he ran for the state’s highest office in 2022, Shapiro said he had “real concerns” about the Regional Greenhouse Gas Initiative (RGGI)—the signature climate policy of his predecessor. He said he was worried the carbon-tax scheme could hit Pennsylvania families with higher costs, which it will. RGGI is expected to raise residential electric bills by 30% by 2030, killing at least 22,000 jobs in the process. But three years later, the governor is singing a different tune. On May 13, in front of the Pennsylvania Supreme Court, his administration and other environmental organizations argued that Shapiro should have the power to keep RGGI in place. So much for those “real concerns.”
Energy Markets
WTI Crude Oil: ↑ $63.57
Natural Gas: ↑ $3.71
Gasoline: ↓ $3.14
Diesel: ↓ $3.51
Heating Oil: ↑ $208.29
Brent Crude Oil: ↑ $65.43
** US Rig Count ([link removed])
: ↓ 586
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