President Donald Trump this morning reiterated threats against Tehran’s energy infrastructure amid negotiations between the two countries.
readers! We hope you all had a restful weekend—and if you’re in the D.C. area, that you had a chance to enjoy the cherry blossoms at their peak bloom! 🌸🌸🌸Daily on Energy: E15 waiver, oil and gas executives’ attitudes on Iran, and a proposed data center ban Meanwhile, Trump has eased the blockade of fuel entering Cuba, with Russian oil expected to make landfall on the island today.
🇨🇺🇷🇺🛢️ 🚢 🏝️ Keep reading to learn more! ). Email cpatteson@washingtonexaminer dot com or mmerino@washingtonexaminer dot com for tips, suggestions, calendar items, and anything else. If a friend sent this to you and you’d like to sign up,has renewed his threats against Iran’s energy infrastructure as the administration looks to end the monthlong war in the Middle East. this morning, Trump said his administration is in “serious discussions” with the Iranian regime, including about opening the Strait of Hormuz. The effective closure of the Strait of Hormuz has caused global energy prices to rise. The president warned that, if Iran does not agree to a deal, the administration would “completely” obliterate Iran’s energy sources, including its electric plants, oil wells, and Kharg Island. He added that these energy sources have not been touched on purpose. The Trump administration has spared Kharg Island so far. The island plays a major role in Iran’s energy, as it handles nearly 90% of the country’s oil exports. The president last week said he would extend a pause in attacking Iran’s energy facilities to April 6, citing ongoing talks between the two countries. . The U.S. has proposed a deal to end the war but Iran has yet to officially respond and has come out with its own proposal. Pakistan yesterday said it would soon host talks between the U.S, and Iran, but there has been no indication from the two countries that they will take up that offer. At the same time, the Trump administration has sent thousands of troops to the region. “To be honest with you, my favourite thing is to take the oil in Iran, but some stupid people back in the US say: ‘Why are you doing that?’ But they’re stupid people,” heTrump’s threats today sent another shockwave through the oil markets, sending both international and domestic benchmarks above the $100 per barrel line. As of 2 p.m., Brent Crude was up 0.5% and selling at $113 per barrel. West Texas Intermediate was also up by around 3.3% and priced at $103 per barrel. Motorists just barely scraped through last week without seeing the national average price for gasoline hit $4 per gallon – something we could see in just a matter of days. As of today, AAA was tracking the national average price at $3.99 per gallon. This is up by more than $1 from one month ago, when the average sat at $2.982. estimates that this dramatic increase has resulted in Americans spending more than $8 billion on gasoline in the last month since the Iran war began. “The situation remains highly volatile and unpredictable, but upward pressure on fuel prices is likely to persist as long as global oil supplies are constrained by the continued disruption in the Strait,” he said today. “We’re likely to see the national average for gasoline push beyond the $4-per-gallon mark, while diesel could approach $6 per gallon and potentially set new records if conditions fail to improve.”Trump has allowed for Russian oil to supply Cuba after months of blocking fuel imports from entering the island. “I told them if a country wants to send some oil into Cuba right now, I have no problem with that, whether it’s Russia or no,” Trump told reporters yesterday on Air Force One. “Whether or not they get a boat of oil, it’s not going to matter. I’d prefer letting it in, whether it’s Russia or anybody else, because the people need heat and cooling and everything else,” he said. . Russia has expressed solidarity and continued support for Cuba even as Trump has threatened to take the island. It’s been nearly three months since the island has received any outside fuel imports, leading to an energy and humanitarian crisis. The Trump administration in January imposed sanctions on Cuba, threatening tariffs on any country that supplies the island with fuel. said at a press conference that “there has not been a formal change in sanctions policy,” adding that the president has allowed the ship to reach Cuba to provide humanitarian aid. She added these decisions are currently being made on a “case-by-case basis.” More than two dozen onshore wind farms are facing significant delays to obtain federal permits and reviews necessary to begin construction, with the Pentagon reportedly keeping the projects on hold. that at least 30 wind farms are facing delays from the Pentagon, which routinely reviews these projects to ensure the turbines won’t interfere with military radar or aviation systems. The reviews, also known as mitigation agreements, are traditionally considered routine, and typically the Pentagon will negotiate with the companies about any changes that need to be made in the project planning. However, dozens of these agreements have been left unsigned, according todescribed the delays as “direct obstruction” from the government, further evidence that the administration is willing to do anything it can to meet Trump’s goal of preventing any wind turbines from being built while he is president. : These delays could very well pose a risk to negotiations over permitting reform in Congress, as Democrats have repeatedly pointed to the Trump administration’s crackdown on wind as their reasoning for stalling discussions. Negotiations resumed at the start of March, after the Interior Department moved forward on multiple solar projects. However, Democratic Sen. last week that the recent delays are something the party is looking at “in the context of whether the pause needs to be renewed.” ExxonMobil and QatarEnergy’s joint venture along the Texas Gulf Coast has begun producing liquefied natural gas, a key step toward ramping up U.S. exports of LNG.earlier today that it achieved first production of LNG from Train 1 at its Sabine Pass Terminal. This paves the way for the company to deliver its first cargo of LNG. Golden Pass is expecting to begin exporting LNG to its customers in the second quarter of this year. At least one LNG tanker is reportedly on its way to the facility to load the product and will arrive toward the end of April,heralded “the completion of a significant effort to construct, commission, and start up the first LNG Train and the beginning of operating a world-class facility with an exceptional team.”: The milestone comes at a critical time for the LNG industry, particularly as QatarEnergy said last week that it will have to declare force majeure on its production due to the war in Iran. QatarEnergy’s facilities in the Middle East make up roughly 20% of global LNG supply. : Deep-sea mining company Glomar Minerals and Australia’s mineral and processing firm Cobalt Blue announced they plan to build a commercial-scale facility in the U.S. to process critical minerals extracted from the ocean floor. Deep-sea mining provides for the extraction of rocks on the bottom of the ocean floor known as polymetallic nodules. Those rocks are made up of critical metals like copper, cobalt, iron, manganese, and nickel – essential materials for the energy and defense sectors. that the companies plan to choose a site in the U.S. by June and be in production before the end of 2029. It added that Cobalt Blue plans to supply its technology to separate minerals from polymetallic nodules. The administration has pushed to expand the domestic supply chain of critical minerals to reduce reliance on foreign countries. “Undersea minerals represent a gamechanger to redefine U.S. critical mineral dependence the way shale oil and gas reshaped global energy geopolitics — but it is only one piece of the puzzle,”“Processing is the other — making this consortium instrumental to both economic and national security. The ability to extract six minerals from a single polymetallic nodule is a true force multiplier,” he added. The Johns Hopkins University School of Advanced International Studies holding a webinar on financing energy transitions in developing economies. S&P Global is holding a webinar titled “What’s Next? The US-Iran Conflict & the Impact on Refined Products Markets.” The Environmental Law Institute is hosting a webinar on the impacts of the U.S. withdrawing from environmental international organizations, treaties, and bodies.
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