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DAILY ENERGY NEWS  | 12/04/2025
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Drill, baby, drill.


The Center Square (12/3/25) reports: "U.S. oil production rose by 44,000 barrels per day to a record 13.84 million barrels per day in September, driven by a sharp increase in New Mexico and Alaska. The 0.3% rise represented the fourth consecutive month of record output, Energy Information Administration data shows. Production also showed growth in Oklahoma but remained flat in Texas and other key producing states, as oil prices remain low. The price Wednesday of a barrel of West Texas Intermediate crude oil was at $59.46, down 12.3% from $67.79 a barrel at the beginning of 2025. U.S. crude oil output is up by 407,000 barrels, or 3.0%, since the beginning of the year, driven by technological advancements and efforts by the Trump administration to immediately increase domestic energy production. The U.S. has been the world’s top crude oil producer since 2018."

"The risk now is that even if emissions fall later, the climate system may keep heating on its own. We might be dangerously close to triggering climate feedbacks that humanity can’t simply switch off." 

 

– Professor William Ripple, Alliance of World Scientists

The new Greek Revival, fueled by American LNG.
Greece is the 'GATEWAY' for US energy to reach central Europe, says energy minister

Thank you, Mr. President, for giving the auto market its freedom back.


New York Times (12/3/25) reports: "Flanked by executives from major automakers in the Oval Office, Mr. Trump said the Transportation Department would significantly weaken fuel efficiency requirements for tens of millions of new cars and light trucks. The administration claimed the changes would save Americans $109 billion over five years and shave $1,000 off the average cost of a new car. The Biden administration’s stricter efficiency standards were designed to get more Americans to go electric. But Mr. Trump said they 'forced automakers to build cars using expensive technologies that drove up costs, drove up prices, and made the car much worse. This is a green new scam, and people were paying too much for a car that didn’t work as well.'"

Making Alaska great again, one deal at a time.


Alaska's News Source (12/1/25) reports: "Gov. Mike Dunleavy told a Korean media outlet that a legally-binding deal with South Korea will come in December, but the lead developer for an Alaska liquified natural gas pipeline project, Glenfarne Group, says while some components of their multi-part agreement are binding, the LNG portion remains non-binding. 'There are continuing discussions with the U.S. government with Korean officials on how big of an investment Korea is going to be eventually making in this project and how big of an offtake for this gas project,' Dunleavy told the Korea JoongAng Daily, a media outlet associated with the New York Times, Nov. 26. The report did not explicitly mention deal terms. Grant Robinson, spokesperson for the governor, did not respond to questions over what terms were being discussed. Glenfarne said in an email to Alaska’s News Source Tuesday while they expect to sign a deal 'imminently,' the LNG sales component is not legally binding. However, Glenfarne clarified while the LNG sales portion remains non-binding, they consider other components of the multi-part agreement to be binding, citing commitments outlined in a September press release."

Energy Markets

 
WTI Crude Oil: ↓ $59.21
Natural Gas: ↓ $4.92
Gasoline: ↓ $2.99
Diesel: ↓ $3.72
Heating Oil: ↓ $227.51
Brent Crude Oil: ↓ $62.90
US Rig Count: ↓ 568

 
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