SHALE Magazine Volume 3 Issue 1 by SHALE Oil & Gas Business Magazine

ENERGY PROSPECTS FOR 2025 How a Trump White House Changes the Outlook for Energy

U.S. OIL PRODUCTION SETS A NEW RECORD

COMMISSIONER

DAWN BUCKINGHAM

THE SURGEON TURNED LAND COMMISSIONER RESHAPING TEXAS’S ENERGY FUTURE U.S. SUPPORTS FUTURE OF CRITICAL MINERALS MINING ARE OIL REFINERS GOUGING YOU? California’s Data Tells a Different Story

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Finding and producing the oil and natural gas the world needs is what we do. And our commitment to our SPIRIT Values—Safety, People, Integrity, Responsibility, Innovation and Teamwork— is how we do it. That includes caring about the environment and the communities where we live and work – now and into the future.

EDITOR-IN-CHIEF Robert Rapier

CHIEF FINANCIAL OFFICER Suzel Diego

PUBLICATION EDITOR Tyler Reed

ASSOCIATE EDITOR David Porter

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STAFF WRITERS Felicity Bradstock, Tyler Reed

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VICE PRESIDENT OF SALES & MARKETING James Moreno / james@shalemag.com

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Felicity Bradstock, Phil Cruver, Jess Henley, Robert Rapier

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AS WE STEP INTO 2025, THE ENERGY LANDSCAPE IS EVOLVING AT A REMARKABLE PACE. THIS QUARTER'S EDITION OF SHALE MAGAZINE ARRIVES AT A CRITICAL JUNCTURE, MARKED BY A SIGNIFICANT CHANGE IN GOVERNMENT THAT IS EXPECTED TO BENEFIT THE OIL AND GAS INDUSTRY.

Unprecedented developments in U.S. oil production are unfolding alongside emerging challenges and opportunities across the broader energy sector. U.S. oil production has reached historic highs, underscoring the resilience and innovation of the domestic energy industry. Yet, questions linger about the future of shale gas production, while energy policy and environmental commitments remain hotly debated. This edition dives into these intersecting narratives, providing the insights you need to navigate this complex and dynamic terrain.

Our cover story spotlights Texas Land Commissioner Dawn Buckingham, whose unconventional journey from oculoplastic surgeon to the state’s first female Land Commissioner highlights the type of innovative leadership the energy industry needs today. Under her guidance, the Texas General Land Office has become a hub of energy innovation, leading transformative carbon sequestration projects, advancing nextgeneration nuclear technologies, and fiercely defending the state’s vital oil and gas sector. Her vision of maintaining Texas’s energy independence while strategically embracing innovation offers valuable lessons for energy leaders nationwide.

One of our feature stories this quarter examines the issue of hydrocarbon well repurposing and plugging – a topic that affects not just our industry but every American’s energy future. We’ve also included an indepth analysis of baseload energy potential through enhanced geothermal systems, highlighting the innovative technologies reshaping our approach to sustainable power generation.

The international sphere remains equally dynamic. Our coverage includes an examination of China’s growing EV market share despite U.S. regulatory pushback, and we take a critical look at the implications of the $300 billion COP29 climate deal for developing nations.

These global developments continue to influence domestic energy policies and market dynamics.

Looking ahead, 2025 promises to be a transformative year for the energy sector. Our analysis of potential White House policy shifts and their implications for energy markets provides crucial context for industry stakeholders. Meanwhile, our examination of grid modernization initiatives, including the Department of Energy’s recent $30 million commitment, offers insight into the infrastructure challenges and opportunities ahead.

For those following market dynamics, we’ve included a detailed investigation into refinery pricing in California, challenging common assumptions about fuel costs. We’ve also devoted significant coverage to the critical minerals mining sector, recognizing its growing importance to both traditional and renewable energy technologies.

As your editor, I’m particularly proud of our balanced approach to these complex issues. Whether you’re an industry veteran or new to the energy sector, you'll find analysis that helps you understand not just what's happening, but why it matters and what lies ahead.

In closing, I want to thank you for your continued trust in Shale Magazine as your source for energy industry insights. As we navigate the challenges and opportunities of 2025, we remain committed to bringing you the detailed, thoughtful analysis you need to make informed decisions.

Here’s to a prosperous and energetic 2025!

ROBERT RAPIER Editor-in-Chief SHALE Magazine

COMMISSIONER DAWN BUCKINGHAM

THE SURGEON TURNED LAND COMMISSIONER RESHAPING TEXAS’S ENERGY FUTURE

By: Robert Rapier / Photos courtesy of GLO

INTRODUCTION

In her Austin office, Texas Land Commissioner Dawn Buckingham speaks passionately about her vision for the state’s energy future. She has embraced her role with the precision of a surgeon and the tenacity of a lifelong Texan, transforming what she calls “the most important state agency that so many Texans have never heard of.”

Overseeing state land that stretches from the Gulf Coast to the Panhandle, Buckingham has emerged as a powerful advocate for Texas’s energy industry. She has spearheaded carbon sequestration initiatives, championed next-generation nuclear technologies, and led legal battles against federal regulations—all while managing the nation’s largest sovereign wealth fund and overseeing programs ranging from veteran services to coastal protection. Her leadership style is defined by an unyielding work ethic and hands-on approach, shaped by an unconventional career path spanning volunteer firefighter, oculoplastic surgeon, and state senator. “I’ll sleep when I’m dead,” she quips with a smile, a motto

that reflects her relentless drive and tireless dedication. Whether she’s inspecting oil facilities in West Texas, reviewing plans for the Alamo’s restoration, or hosting Thanksgiving dinner for family and friends—sometimes including strangers she meets at local restaurants—Buckingham brings focus and heart to every endeavor.

“We’re the agency that rolls up its sleeves every day to positively impact your life in ways you probably don’t realize,” she explains. Under her stewardship, the Texas

Overseeing state land that stretches from the Gulf Coast to the Panhandle, Buckingham has emerged as a powerful advocate for Texas’s energy industry.

General Land Office (GLO) has become a key player in shaping the state’s energy future while preserving its lands, resources, and heritage. This is the story of a trailblazing leader and “happy warrior” innovatively leading one of Texas’s oldest institutions to meet the challenges of tomorrow.

DAWN BUCKINGHAM’S JOURNEY TO LEADERSHIP

The instinct to stand up for others emerged early for Dawn Buckingham. As a child, she would confront playground bullies, an early indication of the fighting spirit that would later define her public service career. But her path to becoming Texas’s first female Land Commissioner was anything but conventional.

Following her father’s footsteps into medicine, Buckingham worked her way through college as a waitress, an experience that shaped her perspective on service and humility. “When people were being mean to me when I was waiting on them, I would

“I wholeheartedly care for veterans, protect our beautiful Texas coast, and support our fellow Texans as they recover from disasters,”

think, ‛Well, someday I’m going to be your surgeon,’” she recalls with a laugh. “I never thought someday I’d be your statewide elected official.”

That journey to public office began while she was building a successful 25-year career as an oculoplastic surgeon. She also served as a volunteer firefighter, deepening her commitment to public service. Her first taste of public office came through service on the State Board for Educator Certification, where

she rose to Vice Chairman. A seat on her children’s school board followed – “before it was cool,” she jokes – along with an appointment to the Texas Sunset Commission by thenLieutenant Governor Dewhurst.

Her watershed moment came when she decided to run for the Texas Senate. In a historic victory, she became the first Republican elected to the Senate from Travis County. The experience proved invaluable, teaching her the art of building relationships across party lines and finding practical solutions to complex problems. “The Texas Senate, arguably the most conservative elected body in the country, votes bipartisan 98 percent of the time,” she notes. “And nobody talks about that.”

When then-Land Commissioner George P. Bush announced his run for Attorney General, Buckingham saw an opportunity to serve Texas in a new way. After prayer and discussion with her husband of 33 years, she launched her campaign for Land Commissioner. The race proved challenging – she was outspent five to one by her Democratic opponent – but she prevailed with the largest margin of any non-incumbent on the statewide ballot.

The significance of being the first woman to serve as Texas Land Commissioner isn’t lost on Buckingham, but she sees it through a characteristically practical lens. “I wholeheartedly care for veterans, protect our beautiful Texas coast, and support our fellow Texans as they recover from disasters,” she explains. “Every day, I embrace my role with the nurturing spirit that comes from my motherly instincts.”

This combination of toughness and compassion has become Buckingham’s hallmark as Commissioner. Whether she’s fighting federal regulations that threaten Texas’s energy industry or ensuring Hurricane Harvey victims can rebuild their homes, she brings the same determination that once drove her to confront playground bullies. But now, instead of helping one patient at a time in the operating room, she’s serving millions of Texans through what she calls "transformational" initiatives for the state’s future.

“I have learned that challenges are simply opportunities God gives to his strongest soldiers,” Buckingham reflects. As Texas faces growing demands for energy, increas-

ing pressure on public lands, and evolving environmental challenges, this former surgeon turned “happy warrior” Land Commissioner is proving that sometimes the most unconventional paths lead to the most effective leadership.

THE ROLE OF THE TEXAS LAND COMMISSIONER

When Dr. Buckingham describes the Texas General Land Office (GLO) as “the most important state agency that so many Texans have never heard of,” she's not exaggerating. The role of Land Commissioner touches virtually every aspect of Texas life, from funding public education to protecting the coast, from supporting veterans to preserving the Alamo.

At the heart of the Commissioner’s responsibilities lies the stewardship of 13 million acres of state lands – a legacy that dates back to the Republic of Texas. Unlike other territories that ceded their unowned lands to the federal government, Texas retained control of its public lands, a decision that continues to pay dividends for its citizens today.

Perhaps the most significant of these dividends flows through the Permanent School Fund (PSF), the oldest and largest sovereign wealth fund in the United States. Valued at

$56 billion, the fund generates revenue from state lands through oil and gas production, carbon sequestration, and mineral resources. Under Buckingham’s leadership, the PSF provided $1.5 billion for public education this year alone, following a record $2 billion contribution last year. “I will unapologetically defend the oil and gas industry to ensure we continue to fund the next generation of Texans,” she asserts.

The Commissioner’s role extends far beyond land management. As chair of the Veterans Land Board, Buckingham oversees programs that help Texas veterans achieve homeownership through specialized mortgage options. The GLO operates ten Texas State Veterans homes and manages five State Veterans Cemeteries, fulfilling the state’s commitment to those who served.

Coastal protection represents another crucial aspect of the Commissioner’s duties. The GLO’s Coastal Protection Division maintains Texas beaches, conducts water quality testing, assists with dune restoration, and maintains oil spill response teams along the coast. Meanwhile, the Community Development and Revitalization Division leads disaster recovery efforts and flood mitigation initiatives, having allocated more than $8 billion to help Texans rebuild after natural disasters.

Under Buckingham’s tenure, the GLO has expanded its role in shaping Texas’s energy

future. The office recently secured the largest carbon sequestration lease in the world, spanning 1.2 million acres. This initiative not only generated $130 million for the Permanent School Fund in a single day but is projected to raise $10 billion over the next decade while creating up to 50,000 new jobs.

In an era of increasing federal regulation, the Land Commissioner has emerged as a key defender of Texas’s interests. Buckingham is currently leading legal challenges against federal initiatives she sees as threatening to Texas’s energy industry, from LNG moratoriums to endangered species regulations. She’s also pioneering research into produced water management and advocating for emerging technologies like salt-cooled nuclear reactors.

“My mission statement for the General Land Office is clear,” Buckingham says. “We are here to serve the people we are supposed to serve and do it well.” In practice, this means balancing multiple priorities: maximizing revenue for Texas schoolchildren, protecting natural resources, supporting veterans, preserving historical landmarks, and defending the state’s energy independence –all while preparing for future challenges.

For Buckingham, it’s a role that demands both vision and practical leadership. “We really look out across Texas,” she explains, “and everything that we touch, we try to look

out and say, ‛How can we be transformational for what Texas needs in the future while we’re within our rails?’” It’s an approach that’s redefining what the Land Commissioner’s office can achieve for the people of Texas.

BUCKINGHAM’S VISION FOR TEXAS ENERGY

As Texas Land Commissioner, Dr. Buckingham envisions a future where Texas maintains its energy independence while embracing strategic innovation. Her approach centers on strengthening traditional oil and gas production while selectively incorporating new technologies that align with the state's economic and environmental interests.

“My goal is simple,” Buckingham states, “to ensure Texas oil and gas operations continue to grow so that Texans can continue to thrive, meet our increasing energy demands, and broaden our horizons to produce enough energy for generations to come.” This vision is particularly significant given that Texas currently produces 42% of the nation’s oil and 27% of its natural gas.

Buckingham’s strategy includes several key components.

At the core of her vision is an unwavering defense of Texas’s oil and gas industry. She

“My goal is simple,” Buckingham states, “to ensure Texas oil and gas operations continue to grow so that Texans can continue to thrive, meet our increasing energy demands, and broaden our horizons to produce enough energy for generations to come.”

actively opposes federal restrictions and ESG policies that could hamper energy production, viewing them as threats to economic vitality and energy security. Her office has taken concrete steps in this direction, including leading legal challenges against federal regulations and actively blocking initiatives that she believes could harm the industry.

While firmly supporting traditional energy, Buckingham recognizes the need for technological advancement. She’s particularly interested in emerging technologies like saltcooled nuclear reactors and hydrogen energy.

Buckingham advocates for what she calls “clean, dependable energy sources,” emphasizing that Texas produces natural gas more cleanly than anywhere else in the world. Her office has taken leadership in addressing industry challenges, including research on produced water management and innovative solutions for orphaned wells.

Understanding Texas’s rapid growth—approximately 1,300 people move to the state daily—Buckingham emphasizes the need for a stable power grid. Her office is actively exploring various energy solutions, including geothermal opportunities on newly acquired state lands. She’s particularly focused on supporting data centers and other high-energy-demand facilities that are crucial to Texas’s economic future.

Buckingham takes a calculated approach to alternative energy sources, strongly favoring those she believes offer reliable, efficient power generation. She has expressed skepticism about wind and solar energy, citing concerns about reliability, environmental impact, and disposal challenges. Instead, she advocates for focusing on proven energy sources while exploring promising new technologies like small modular nuclear reactors.

A key component of Buckingham’s vision

is maintaining Texas’s position as a global energy leader. She frequently points out that if Texas were a sovereign nation, it would have the eighth strongest economy in the world, largely due to its energy sector. Her strategy aims to build on this foundation while creating new revenue streams for Texas schools through innovative energy projects and land management.

Looking ahead, Buckingham envisions a Texas that remains energy independent while leading in technological innovation. Her approach suggests a future where traditional energy sources remain dominant but are complemented by carefully selected new technologies that meet her criteria for reliability, efficiency, and economic benefit to Texans.

LAND AND ENVIRONMENTAL STEWARDSHIP

Buckingham has prioritized Texas’s role as a global energy leader, leveraging cutting-edge technologies to advance the state’s energy industry while maintaining a strong commitment to environmental stewardship. In addition to championing initiatives in carbon sequestration, a critical component of reducing greenhouse gas emissions, and supporting innovative nuclear technologies aimed at diversifying the state’s energy portfolio, her office has facilitated partnerships to develop renewable energy projects on state lands, showcasing her commitment to both traditional and emerging energy sources.

Simultaneously, Buckingham has advanced innovative solutions to address industry challenges, such as produced water management and habitat restoration. Her office has allocated substantial resources to plugging orphaned wells, including a $10 million fund dedicated to the Railroad Commission for this purpose. These efforts underscore her dedication to ensuring sustainable land use and minimizing the environmental impact of energy production.

A hallmark of her tenure has been her efforts to maximize the potential of state lands through revenue-generating activities like mineral rights management and agricultural leasing. By fostering strategic collaborations with energy companies, Buckingham ensures that state resources are managed efficiently and profitably, contributing significant funds to the Permanent School Fund while maintaining environmental integrity.

Her office has also played a pivotal role in disaster recovery and flood mitigation, allocating over $8 billion toward recovery efforts. Buckingham’s accelerated Hurricane Harvey recovery initiatives have assisted thousands of families with home rebuilding and repairs, while supporting the reconstruction of affordable rental units. These efforts highlight her dedication to ensuring resilience in Texas communities. With a mission to “serve the people we are supposed to serve and do it well,” Buckingham’s balanced approach to economic development and environmental stewardship has positioned the GLO as a leader in resource management, disaster recovery, and sustainable innovation.

PRESERVING TEXAS’S CULTURAL LEGACY

As a ninth-generation Texan and Daughter of the Republic of Texas, Dawn Buckingham brings a deeply personal connection to her role in preserving the state’s cultural heritage, particularly her stewardship of the Alamo. Her leadership reflects a commitment to honoring history while creating educational opportunities for future generations, blending reverence for the past with a forward-looking vision.

One of Buckingham’s signature initiatives is the ambitious $550 million Alamo preservation project, aimed at safeguarding one of Texas’s most iconic landmarks. With $400 million secured from the Texas Legislature through collaboration with Lieutenant Governor Dan Patrick, the project emphasizes restoration rather than reimagination. Key components include critical structural repairs, the development of a 100,000-square-foot museum, and the creation of a children’s education center. Buckingham’s approach prioritizes preserving the site’s historical integrity while enhancing its accessibility and educational value.

A cornerstone of Buckingham’s vision is fostering a deeper understanding of Texas’s history among younger generations. The new facilities at the Alamo will provide educational resources tailored to students from early childhood through high school, offering interactive learning experiences that bring history to life. The museum will showcase historical artifacts and focus on teaching Texas’s rich history of liberty and independence, ensuring these stories resonate with modern audiences.

Beyond the Alamo, Buckingham oversees the General Land Office’s efforts to preserve Texas’s largest and oldest map archive. These documents are crucial to understanding the state’s history and evolution, serving not only as a resource for land management but also as a foundation for research and educational initiatives. This commitment to historical document preservation underscores Buckingham’s dedication to maintaining the authenticity and accessibility of Texas’s cultural legacy.

Buckingham’s philosophy prioritizes authentic preservation over modernization, ensuring historical accuracy while making history relevant for today’s audiences. She describes cultural preservation as “the single most important thing I do,” reflecting her passion for connecting current and future generations with their heritage. Under her leadership, sites like the Alamo are not only preserved but revitalized as enduring symbols of Texas’s storied past and inspiring reminders of its enduring legacy.

CLOSING REFLECTIONS AND CONCLUSION

Dawn Buckingham’s tenure as Texas Land Commissioner represents a transformative era for the state. By championing energy innovation, environmental stewardship, and cultural preservation, she has ensured Texas remains a leader on multiple fronts. Her forward-thinking leadership balances tradition with innovation, securing a prosperous future while honoring the state’s rich heritage. Buckingham’s legacy will be defined by her unwavering commitment to serving Texans and shaping the GLO into a dynamic force for progress.

Looking ahead, Dr. Buckingham’s vision for a prosperous, energyindependent, and environmentally conscious Texas stands as a testament to her commitment to the state’s enduring legacy. Her leadership philosophy, characterized by practical solutions and a tireless work ethic, serves as an inspiring model for public service. As Texas faces the challenges of tomorrow, Dawn Buckingham’s tenure will undoubtedly be remembered as a pivotal chapter in the state’s history.

About the author: Robert Rapier is a chemical engineer in the energy industry and Editor-in-Chief of Shale Magazine. Robert has 25 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries and holds several patents related to his work. He has worked in the areas of oil refining, oil production, synthetic fuels, biomass to energy, and alcohol production. He is author of multiple newsletters for Investing Daily and of the book Power Plays. Robert has appeared on 60 Minutes, The History Channel, CNBC, Business News Network, CBC, and PBS. His energy-themed articles have appeared in numerous media outlets, including the Wall Street Journal, Washington Post, Christian Science Monitor, and The Economist.

Baseload Energy, Reimagined:

THE POTENTIAL OF ENHANCED GEOTHERMAL SYSTEMS

By: Robert Rapier

Enhanced Geothermal Systems (EGS) are quietly transforming how we think about renewable energy, turning one of the Earth’s most underutilized resources—its internal heat—into a reliable and sustainable power source. The Department of Energy (DOE) estimates that approximately 100,000 megawatts of clean, baseload power could be generated through EGS technology in the United States.

The beauty of this technology, which extracts thermal energy from deep beneath the surface, is that it is widely applicable, and may be of particular interest in regions where wind and solar face limitations.

Harnessing Earth’s Internal Heat

EGS operates by drilling deep into the Earth’s crust to access hot, dry rock formations. By injecting water into these formations and creating fractures, a closed-loop system is established. The water circulates through the hot rock, absorbing thermal energy and transforming into steam. This steam is brought to the surface to drive turbines, generating electricity. The cooled fluid is reinjected underground, minimizing environmental impact and sustaining the process.

This differs from traditional geothermal energy, which relies on natural reservoirs of hot water or steam. EGS’s ability to artificially create geothermal reservoirs means it can be deployed in regions where conventional geothermal resources are unavailable, dramatically expanding the potential application of this renewable technology.

Reliable Baseload Power

One of EGS’s standout features is its ability to provide baseload power. Unlike wind and solar, which are intermittent and depend on weather conditions, EGS generates firm power, producing electricity around the clock.

This consistent power output makes it an excellent complement to intermittent renewable energy sources, reducing reliance on costly and complex energy storage solutions.

Case Studies in EGS Innovation

Companies and institutions are demonstrating the potential of EGS to reshape the energy landscape.

Fervo Energy is pioneering advanced techniques adapted from the oil and gas industry, including horizontal drilling and well stimulation. Its Utah project, set to produce 320 megawatts of electricity by 2028, is a landmark in renewable energy innovation. This project has already attracted attention from Southern California Edison, which has

committed to integrating Fervo’s geothermal energy into its grid.

Ormat Technologies has received a nearly $3.4 million grant from the DOE to demonstrate the viability of EGS at its Brady facility near Reno, Nevada. The project aims to improve non-commercial wells by applying EGS stimulation techniques to develop fracture networks that will enable communication with productive reservoirs and enhance electricity generation.

The project builds on Ormat’s previous EGS work, including a demonstration at the Desert Peak geothermal power plant, which is set to be the first application of EGS technology to supply a producing power project in the U.S. Ormat’s air-cooled power plants are particularly well-suited for EGS developments due to their compatibility with typical production temperatures and their water-conserving design, which re-injects all geothermal fluid back into the ground.

Cornell University is exploring EGS for district heating with its Earth Source Heat Project. This initiative aims to provide carbonneutral thermal energy to the university’s campus, demonstrating how EGS can serve localized heating needs while supporting decarbonization goals.

Advancements and Opportunities

Recent advancements in drilling technology have significantly reduced the costs associated with EGS, making it more competitive with other renewable energy sources. Innovations like synthetic diamond drill bits and horizontal well systems have enhanced efficiency, enabling faster project development.

Additionally, federal and state policies promoting renewable energy integration are creating opportunities for EGS expansion. Enhanced mapping of geothermal potential by agencies like the National Renewable Energy Laboratory (NREL) has revealed viable sites across much of the U.S., further broadening EGS’s appeal.

A Critical Component for the Future of Energy

Enhanced Geothermal Systems represent a potentially intriguing component of future clean energy production. Their scalability, reliability, and minimal environmental footprint make them a valuable addition to the renewable energy mix.

As technology continues to advance and costs decline, EGS has the potential to play a leading role in the global shift toward sustainable energy, providing solutions that meet both electricity and heating needs while combating climate change.

Companies and institutions are demonstrating the potential of EGS to reshape the energy landscape.

About the author: Robert Rapier is a chemical engineer in the energy industry and Editor-in-Chief of Shale Magazine. Robert has 25 years of international engineering experience in the chemicals, oil and gas, and renewable energy industries and holds several patents related to his work. He has worked in the areas of oil refining, oil production, synthetic fuels, biomass to energy, and alcohol production. He is author of multiple newsletters for Investing Daily and of the book Power Plays. Robert has appeared on 60 Minutes, The History Channel, CNBC, Business News Network, CBC, and PBS. His energythemed articles have appeared in numerous media outlets, including the Wall Street Journal, Washington Post, Christian Science Monitor, and The Economist.

U.S. Oil Production Sets a New Record in 2024

By: Robert Rapier

• U.S. oil production reached new heights in 2024, surpassing 2023’s record of 12.9 million barrels per day

• Technological advancements and strategic infrastructure investments drove production growth

• The achievement strengthens U.S. energy security while meeting global demand amid geopolitical tensions

Despite ongoing concerns about global economic volatility, energy transition policies, and fluctuating demand, the U.S. energy sector has demonstrated its unmatched resilience and innovation.

Building on the record-breaking momentum of 2023, 2024 proved to be another landmark year for oil production, driven by technological advancements, strategic investments, and favorable market conditions.

A Second Consecutive Oil Production Record

In 2023, the United States cemented its position as the world’s leading oil producer, with output exceeding 12.9 million barrels per day (BPD). Building on that momentum, 2024 shattered expectations, setting a new production milestone and fulfilling one of my 2024 energy sector predictions.

According to preliminary data from the U.S. Energy Information Administration

(EIA), production had averaged 13.249 million BPD year-to-date through December 13, 2024. Cumulative production for the year is estimated at 4.611 billion barrels by that date—just 110 million barrels shy of the previous annual record.

Given that producers have consistently exceeded 13 million BPD since January, the record likely fell by December 22, 2024. Even a conservative scenario of 12 million BPD would have delayed the milestone by under a day.

This achievement is a testament to the industry’s ability to adapt to shifting demand and market challenges while maintaining high levels of productivity.

What Drove 2024’s Production Surge?

Advanced Technologies and Operational Excellence

Key to this record-breaking year were precision fracking and improved drilling techniques, which unlocked greater productivity from prominent oil fields. The Permian Basin once again led the charge, delivering a significant share of the growth thanks to its cost-effective and scalable operations.

High Global Demand

U.S. oil producers capitalized on rising global demand, particularly from Europe and Asia, as geopolitical tensions and

evolving trade policies increased the need for reliable supply alternatives. The U.S. energy sector’s robust pipeline infrastructure and export terminals played a critical role in meeting this demand, ensuring efficient delivery to international markets.

Domestic Stability

On the home front, steady consumer demand for refined products and strong refining capacity supported the sector. This balance between international exports and domestic needs underscores the adaptability and resilience of the U.S. energy sector.

Economic and Strategic Benefits

Job Creation and Local Impact

The continued growth of the shale industry has been a boon for the U.S. economy. From upstream drilling operations to downstream refining, the energy sector has created thousands of jobs, strengthened local economies, and bolstered national energy security.

Navigating Future Challenges

While the industry celebrates this success, challenges loom. Addressing environmental concerns and aligning with longterm sustainability goals will require significant investments in emissions-reduction technologies and cleaner production methods. Balancing these efforts with the need to sustain production growth is a critical priority for the future.

A Testament to Resilience and Innovation

The U.S. oil production record of 2024 is a testament to the sector’s ingenuity and adaptability. It highlights the energy industry’s pivotal role in powering the domestic economy and meeting global energy demands. Looking ahead, the sector’s ability to innovate while addressing sustainability challenges will determine its leadership on the global stage.

For now, 2024’s achievement reinforces that U.S. oil producers remain at the forefront of energy innovation, demonstrating once again that resilience and resourcefulness define the success of the shale industry.

Will California’s Energy Infrastructure Withstand Wildfires?

By: Felicity Bradstock

As wildfires rage across Greater Los Angeles, millions of residents have been plunged into darkness to mitigate further risk of fire. Utilities have been blamed for exacerbating fires in the past by not cutting the power early enough, which has led southern Californian utility Edison to shut down part of its network. The question now is how will this infrastructure fare in the face of natural disaster, when will the power come back online, and did the state’s energy infrastructure contribute to the ignition or spread of the fire?

The January LA Fire

On Tuesday 7th January, a fire started in the Pacific Palisades neighborhood of LA, the cause of which is still unknown. It rapidly spread due to high winds and dry brush, running south and west into affluent neighborhoods. Firefighters continued to battle flames in nearby hillsides into Wednesday night without avail. The fire killed at least five people in the first 24 hours, as well as destroying hundreds of homes and leading to the evacuation of over 100,000 people.

As the blaze still rages, analysts are suggesting that the total damage from the devastating January fires could reach between $52 billion and $57 billion in economic losses. This includes both insured and uninsured losses of property, crops, and infrastructure. As well as other direct and indirect costs, such as evacuations, cleanup, emergency management, and medical expenses.

“This is already one of the worst wildfires in California history,” AccuWeather’s Chief Meteorologist Jonathan Porter said in a statement.

“Should a large number of additional structures be burned in the coming days, it may become the worst wildfire in modern California history based on the number of structures burned and economic loss,” Porter added.

California’s Worsening Wildfires

Wildfires in California have appeared to worsen in recent years, with eight of the 10 largest wildfires in California history occurring in the last five years. By September last year, over 6,000 wildfires had burned through almost 1 million acres – very close to the average of about 950,000 acres, according to data from CAL FIRE. However, the speed at which the fires spread and the distance covered in 2024 was unprecedented.

Power Utility Response

Utility companies in many parts of the U.S. have been racing to improve their severe weather and natural disaster prevention and readiness for several years. In California, companies have established mitigation practices for

wildfires, aware that it is a common occurrence in the state. This move also responds to previous failures by some companies that exacerbated wildfires, such as that seen in Maui in 2023.

The power utility Edison International is responsible for delivering much of the power in the region affected by the current wildfire but, so far, it seems that its mitigation tactics are helping to avoid further disaster. According to Edison, over 3 million Edison customers have experienced outages. This initially led the company’s stock to fall by more than 13%, driven by public fear and uncertainty.

Safety shutoffs are carried out to decrease the risk that airborne objects spark additional fires when they hit power lines, Jeff Monford, Edison’s spokesperson, said. It is uncertain when customers will regain power as the company must wait for the period of concern to pass so that crews can fix power lines and other affected infrastructure, according to Monford.

Addressing public concerns about Edison’s potential involvement in the fires, Ross Fowler from the Bank of America said in a note to clients: “At this time, there is no indication that SCE equipment is believed to have started the fire, as SCE has not filed an electric service incident report (ESIR).

... There are multiple media reports indicating SCE equipment has been at least impacted by the fires and we would expect some incremental expenses related to the fire, regardless of ignition source.”

Wildfires across California have had

significant financial impacts on utilities in the past due to the widespread destruction of energy infrastructure and the payments required from utilities if they are found to be liable for either the ignition of a fire or the spreading of a blaze. Northern California utility Pacific Gas and Electric Company was forced to file for bankruptcy in 2019, largely due to liability from wildfires, although it was able to exit bankruptcy in 2020.

As firefighters continue to tackle the blaze, officials will be assessing the fire to better understand the cause and assess the damage. Only time will tell whether Edison has been successful in putting its mitigation plan into action and helping prevent the further spread of the fire through its power shutdown efforts. About the author: Felicity Bradstock is a freelance writer specializing in Energy and Industry. She has a Master’s in International Development from the University of Birmingham, UK, and is now based in Mexico City.

Utility companies in many parts of the U.S. have been racing to improve their severe weather and natural disaster prevention and readiness for several years.

Why All Americans Should Support Repurposing and Plugging of Hydrocarbon Wells

By: Phil Cruver

THE UNITED STATES FACES SIGNIFICANT environmental, economic, and energy challenges in the 21st century. Among these is the pressing issue of idle hydrocarbon wells—millions of which lie abandoned or underutilized, emitting harmful gases and contributing to ecological degradation. However, these wells also present a tremendous opportunity. By repurposing and plugging them, we can mitigate pollution, fulfill financial obligations, and strengthen America’s energy future.

All Americans, regardless of political persuasion, should unite in supporting the repurposing and plugging of idle hydrocarbon wells because it addresses urgent environmental, economic, and energy challenges with bipartisan appeal. This initiative is not a partisan Green New Deal but a practical, innovative solution that reduces harmful methane emissions, meets legal obligations, prepares for future energy needs, drives economic growth, and stabilizes the power grid. Republicans and Democrats alike have a shared interest in creating a sustainable and prosperous future for the nation. Here are five compelling reasons why all Americans should support this initiative.

1. Reducing Methane Emissions to Combat Climate Change

Abandoned and idle wells are a significant source of methane emissions, a greenhouse gas with over 25 times the global warming potential of carbon dioxide over a 100-year period. Methane leaks from these wells contribute to climate change, air pollution, and associated health issues. Repurposing and properly plugging these wells is a proven method to eliminate this source of emissions, providing immediate and measurable environmental benefits.

2. Helping Owners Meet Their Asset Retirement Obligations (ARO)

Oil and gas operators are legally obligated to decommission wells and restore the surrounding environment, a requirement known as Asset Retirement Obligations (ARO). However, many companies lack the resources or incentives to meet these obligations, resulting in an increasing number of orphaned wells left to the public to manage.

By supporting initiatives to repurpose wells for clean energy applications, operators can meet their ARO

while contributing to renewable energy infrastructure. This approach provides a win-win solution by relieving companies of stranded liabilities and ensuring proper well decommissioning.

3. Providing a Solution for Future “Drill Baby Drill” ARO

The call for increased domestic oil and gas production— popularized as “Drill Baby Drill”—raises concerns about the long-term environmental impact of new wells. Every newly drilled well eventually becomes an idle or abandoned liability, adding to the existing ARO burden. Repurposing wells for clean energy uses, such as long-duration energy storage (LDES), creates a sustainable pathway for future energy development. This proactive approach mitigates the environmental risks associated with expanded drilling, ensuring that new wells contribute to economic growth without leaving a legacy of pollution.

4. Supporting Economic Growth Through More Electricity

America’s economic future depends on a reliable and abundant energy supply. From powering new industries to enabling widespread electrification of transportation, the demand for electricity is rapidly increasing. However, our existing infrastructure struggles to keep pace with this growing need. Repurposed wells can support renewable energy generation, thermal energy storage, and other innovative technologies, contributing to a more resilient and robust electricity grid. By turning liabilities into assets, we can create jobs, attract investment, and drive economic growth while building a cleaner energy future.

5. Stabilizing the Grid

Long-duration energy storage (LDES) is critical for ensuring a stable and reliable grid, storing excess energy when supply exceeds demand and releasing it during periods of high demand. Idle hydrocarbon wells can be repurposed as a cost-effective LDES solution ensuring that renewable energy can be fully utilized, even during periods of low sunlight or wind.

Repurposing and plugging idle hydrocarbon wells is a transformative opportunity for the United States. It addresses urgent environmental concerns by reducing methane emissions, helps oil and gas operators fulfill their financial and legal obligations, and provides

a sustainable solution to the legacy of fossil fuel extraction. Moreover, it strengthens America’s energy security by contributing to economic growth and grid stability through innovative clean energy applications like LDES. This initiative represents a rare convergence of environmental stewardship, economic pragmatism, and technological innovation. By supporting the repurposing and plugging of hydrocarbon wells, Americans can take a significant step toward a cleaner, more prosperous, and energysecure future.

About the author:

Phil Cruver is a Cofounder and CEO of Geo2Watts™. Previously, he was the Founder and CEO of Catalina Sea Ranch, the first aquaculture facility in U.S. Federal waters developed six miles offshore California. Phil was also the founder of five additional start-up companies and recently served as Principal Investigator for over $1.2 millions of Federally funded R&D projects. Phil founded International Dynergy, a publicly traded company that installed 500 wind turbine generators in Palm Springs, California.

Energy Sector Performance in 2024

By: Robert Rapier

The S&P 500 closed out 2024 with a total return of 23.3%, building on its 24.2% gain in 2023. Despite a weaker finish to the year, the index notched 57 record closes, fueled by optimism around artificial intelligence (AI) and the Federal Reserve’s interest rate cuts. Every sector in the index posted gains for the year, but seven of the eleven sectors underperformed the broader benchmark, while five delivered returns of at least 20%.

Artificial intelligence stocks were at the forefront of the market’s surge. Nvidia’s impressive 171% gain and Broadcom’s 108% rise exemplified the sector’s transformative potential, propelling both companies to new heights.

Meanwhile, consumer discretionary stocks outperformed in the fourth quarter, delivering double-digit returns, while the health care and materials sectors faced double-digit losses in the same period.

The energy sector delivered a modest total return of 5.6% in 2024, reflecting a year of moderate energy prices and uneven performance across its subsectors.

While the energy sector may see limited upside in the near term, segments like midstream, with their stable cash flows and attractive yields, remain wellpositioned to deliver value to investors.

Energy Sector: Moderate Gains with Significant Variance

The energy sector delivered a modest total return of 5.6% in 2024, reflecting a year of moderate energy prices and uneven performance across its subsectors. While upstream producers and refiners struggled, the midstream segment delivered standout results, driven by strong fundamentals and dividend growth.

Note that all returns discussed below are total returns, which include the impact of dividend payments.

According to data provider FactSet, midstream companies led the energy sector with an average total return of 20.8%. Targa Resources Corp. was the top performer, delivering a remarkable 110.1% return. These results highlight the segment’s stability and income-generating appeal amid a year of restrained energy prices.

In contrast, upstream companies—pure oil and gas producers— recorded an average gain of only 1.5%. Of the 47 companies classified as “upstream” by FactSet, just over half managed positive returns. PrimeEnergy Resources led the group with a 106.5% return, followed closely by Comstock Resources at 105.9%. However, many upstream operators struggled to overcome the challenges of fluctuating commodity prices and investor sentiment.

The refining segment endured a tough year, with the “Big Three” refiners—Marathon Petroleum, Valero, and Phillips 66—posting an average decline of 6.2%. Valero led with a relatively modest decline of -3.0%, followed by Marathon (-4.1%) and Phillips 66 (-11.6%). The refining industry faced headwinds from narrowing crack spreads and subdued demand growth.

Integrated supermajors fared slightly better but still ended the year down an average of 3.1%. ExxonMobil was the standout performer, gaining 11.3% for the year, while Chevron also eked out a 1.3% gain. These companies benefited from diversified operations but were unable to fully escape the drag of weaker refining margins and flat oil prices.

Looking Ahead to 2025

The outlook for 2025 presents both opportunities and challenges for the energy sector. A more favorable regulatory environment under the incoming Trump Administration is expected to benefit oil and gas operators, but industry profits will ultimately hinge on commodity prices. OPEC+ continues to maintain production cuts, but record U.S. oil output has dampened upward pressure on oil prices, which weighed on profits in 2024. This dynamic is likely to persist in 2025, keeping a lid on significant price increases and resulting in modest profitability for the sector.

While the energy sector may see limited upside in the near term, segments like midstream, with their stable cash flows and attractive yields, remain well-positioned to deliver value to investors. For upstream and refining companies, a focus on cost efficiency and operational resilience will be critical in navigating the challenges of 2025.

In short, the energy sector’s status quo of moderate prices and selective outperformance by subsectors is expected to carry into 2025, offering measured opportunities for investors willing to navigate its complexities.

OHas U.S. Shale Gas Production Peaked?

By: Robert Rapier

il and gas fields, no matter how productive, eventually decline. Before the transformative impact of the shale boom, U.S. oil production had been steadily falling for decades, while natural gas output had plateaued.

The Shale Boom’s Impact on U.S. Production

But the rise of shale drilling changed everything. Beginning in 2006, U.S. natural gas production surged by an impressive 94%, and by 2009, oil production also turned a corner, ultimately soaring by 170%.

U.S. Field Production of Crude Oil. Energy Information Administration

The shale boom reshaped the U.S. energy industry, but recent declines in production suggest the surge may be slowing. Lower gas prices and a reduced number of active rigs have led to a production dip that raises questions about future growth of U.S. shale.

The End of the Surge?

For years, experts have debated how long this shale surge could last. Now, the Energy Information Administration (EIA) has offered a clue: U.S. shale gas production, which accounts for 79% of all dry gas output, dropped slightly in the first nine months of 2024 compared to

the previous year. Should this pattern hold, 2024 could mark the first recorded decline in U.S. shale gas production since the EIA began tracking it in 2000.

Annual U.S. Natural Gas Production 2000-2024. Energy Information Administration

Breaking Down the Numbers

Total U.S. shale output dropped by 1% to 81.2 billion cubic feet per day (Bcf/d) from January to September 2024, while other dry gas production increased by 6%, averaging 103.3 Bcf/d overall. The decrease is primarily due to declines in the Haynesville (down 12%) and Utica (down 10%) plays, with only the Permian region showing growth (up 10%).

How Low Prices Are Impacting Production

Falling natural gas prices, which hit record lows in 2024, contributed to production slowdowns, especially in dry gas regions like the Haynesville. Reduced profitability led several operators to shut down wells, and the number of active rigs in the Haynesville, Utica, and Marcellus plays has significantly declined since late 2022.

By September 2024, the Haynesville had only 33 rigs operating—a 53% decrease since January 2023—and the Utica and Marcellus also saw rig count reductions of more than 50% and 36%, respectively.

Fewer Rigs, Lower Output

Higher drilling costs in the Haynesville and Utica, along with reduced demand, have further limited production. In September, Haynesville production was 13.0 Bcf/d, down 14% from its peak in 2023. Meanwhile, the U.S. benchmark Henry Hub natural gas price averaged

$2.10 per million British thermal units (MMBtu) in 2024, a 79% drop from 2022’s inflation-adjusted high of $9.39/MMBtu.

What Lies Ahead?

In the latest Short-Term Energy Outlook, the EIA projects that U.S. dry natural gas production will average 103.5 Bcf/d in 2024, a slight decrease from 2023. Looking ahead to 2025, the agency forecasts a modest rebound, with production expected to reach 104.6 Bcf/d.

While the decline in shale production is noteworthy, the potential for future growth remains, contingent on market dynamics and demand.

Conclusion

The shale boom reshaped the U.S. energy industry, but recent declines in production suggest the surge may be slowing. Lower gas prices and a reduced number of active rigs have led to a production dip that raises questions about future growth of U.S. shale.

As production levels stabilize, market watchers will be keen to see how the industry adapts to evolving economic and environmental factors. Whether this is a temporary dip or a sign of a long-term trend, the future of shale gas production will play a crucial role in shaping the U.S. energy market.

Criticism Over $300 Billion COP29 Climate Deal for Developing World

By: Felicity Bradstock

During the recent COP29 climate summit, member states agreed to triple financing to the developing world to $300 billion a year by 2035 under the New Collective Quantified Goal on Climate Finance (NCQG) framework. The agreement also established a goal of at least $1 trillion a year in climate finance for poorer countries by 2035. Despite the significant increase in funding outlined in the deal, many low-income country leaders and environmentalists have criticized the agreed-upon quantity for being too little to truly make a difference.

The funds are aimed at helping poorer countries develop their renewable energy capacity to reduce emissions and boost energy security, as well as help prepare countries for the effects of climate change over the coming decade.

“This new finance goal is an insurance policy for humanity, amid worsening climate impacts hitting every country,” said Simon Stiell, Executive Secretary of UN Climate Change. “But like any insurance policy – it only works – if premiums are paid in full, and on time. Promises must be kept, to protect billions of lives.”

Nearer $1 Trillion a Year Needed in Developing World

Poorer countries could need as much as $1 trillion a year in climate financing to tackle the effects of climate change, according to a report

by an independent panel of experts at a United Nations climate summit.

The report from the Independent High-Level Expert Group on Climate Finance (IHLEG) predicted that financing of $6.5 trillion a year will be required across all countries by 2030 to meet climate targets, $1 trillion of which is allocated to developing countries. The report said, any shortfall “will place added pressure on the years that follow, creating a steeper and potentially more costly path to climate stability”.

The research is based on a 2022 IHLEG analysis that found developing countries will likely need $2.4 trillion a year in climate funding by 2030. The authors suggested that at least half of the funding could come from the budgets of the countries themselves, leaving a deficit of around $1 trillion.

The deadline for $1 trillion by 2035 established at COP29 could, therefore, have a significantly detrimental effect on progress in the developing world by being five years too late at providing the necessary funds, according to climate analysts.

Responses from the Developing World

Several leaders from low and middle-income countries responded by criticizing the new funding announcement.

“I regret to say that this document is nothing more than an optical illusion,” Chandni Raina, the Indian delegation’s representative at

COP29, stated during the closing session of the summit. “This, in our opinion, will not address the enormity of the challenge we all face. Therefore, we oppose the adoption of this document.”

Tina Stege, Marshall Islands climate envoy, stated, “We are leaving with a small portion of the funding climate-vulnerable countries urgently need. It isn’t nearly enough, but it’s a start.”

Cedric Schuster, the chair of the Alliance of Small Island States, stated, “Our islands are sinking. How can you expect us to go back to the women, men, and children of our countries with a poor deal?”.

Too Little Too Late

Many environmentalists have criticized the funding decision for being too little too late. This year, which is expected to be the warmest on record, has seen widespread heatwaves, deadly storms, severe floods, and strong

hurricanes. Several climate organizations say that we are already facing a clear funding deficit as poorer countries worldwide battle the worsening effects of climate change.

Jasper Inventor, the head of Greenpeace’s COP29 delegation, said the deal was “woefully inadequate” and that “reckless nature destroyers” were being protected by “every government’s low climate ambition”. Meanwhile, WaterAid called the deal a “death sentence for millions.”

Developing Countries Around the Globe have Sought Funding for Years

Representatives across the developing world have been calling for greater funding for several years. Many low-income countries are those worst affected by the effects of climate change, and they do not have the money to prepare for the potential damage caused by severe weather events. Several country leaders have repeatedly asked for greater

Poorer countries could need as much as $1 trillion a year in climate financing to tackle the effects of climate change, according to a report by an independent panel of experts at a United Nations climate summit.

funding from high-income countries to help them develop their renewable energy capacity and transition away from heavy reliance on fossil fuels to help reduce emissions and support a global green transition.

Many low-income countries are only now undergoing industrialization, around 200 years after their Western counterparts. The growing reliance on fossil fuels to power industry could lead to a significant increase in emissions in several parts of the world unless greater funding is provided for clean energy to power operations.

In 2023, around 81% of green investment was financed by the private sector in highincome countries, compared to just 14% in emerging and developing countries. Meanwhile, the national budgets of most low-income countries cannot stretch to afford investment in green energy. This demonstrates the dire need for rich countries to support a global transition to green and help mitigate the effects of climate change to counter the growing demand for fossil fuels that could lead to higher emissions in the developing world.

About the author: Felicity Bradstock is a freelance writer specializing in Energy and Industry. She has a Master’s in International Development from the University of Birmingham, UK, and is now based in Mexico City.

China’s EV Market Share on the Rise Despite U.S. Near Ban

By: Felicity Bradstock

Despite strict U.S. tariffs on Chinese electric vehicles (EVs), and more expected to be introduced under President Donald Trump, China’s share of the global EV market is continuing to grow. With easy access to vast critical mineral supplies and lithium-ion batteries, as well as high government subsidies, China is now able to produce low-cost, highly competitive EVs at a faster rate than anywhere else in the world. This means that well-known automakers in other countries are finding it increasingly difficult to compete with the low prices of Chinese car makers as their new models flood the market.

China’s Growing Share of the Global EV Market

In October, China’s share of the global EV market reached 76%. Currently, most EV sales take place in China, the EU, and the U.S. Global EV sales between January and October stood at 14.1 million units, according to the China Passenger Car

Association. Around 69% of these sales took place in China, which has a rapidly growing EV market. China’s market share is expected to continue growing as more Chinese companies step into the EV industry.

Tariffs Aimed at Dampening Growth

Several Western markets have introduced tariffs on Chinese EVs in a bid to make locally produced vehicles more competitive and reduce the Asian giant’s market share. In May, in the U.S., President Biden increased the tariff on Chinese EVs from 25% to 100%. President Donald Trump has pledged to impose additional levies of 10% on all Chinese imports. Exports of Chinese EVs to the U.S. were reported to have fallen by around 23% between 2022 and 2024 in response to the higher tariffs.

In the EU, the bloc has imposed tariffs of 35% on Chinese EVs in addition to duties of 10%, aimed at dampening demand for the vehicles.

Increased Demand for Chinese EVs Worldwide

Nevertheless, the demand for Chineseproduced EVs continues to grow worldwide due to the broad array of offerings and highly competitive pricing. This is particularly true in the Chinese market, where the government recently increased the subsidy for car buyers for EV purchases by twofold, to $2,764 when trading in an internal combustion engine (ICE) car.

Sales of Chinese cars have also increased in Russia, by a reported 109% in the past two years. The U.S. and the EU both banned the export of cars to Russia following the Russian invasion of Ukraine in 2022.

Brazil, Belgium, the U.K., Thailand, the Philippines, and Indonesia were the biggest export markets for Chinese EVs this year, according to the China Passenger Car Association. In Indonesia, Chinese brands accounted for 43% of EV sales in the first half of 2024.

The U.S. Can’t Beat Chinese Pricing

At present, U.S.-produced EVs cost an average of $55,000, which is around double the price of Chinese-produced offerings. This is largely thanks to China’s dominance of the global critical minerals market, giving it easy access to lithium and other raw materials needed for EV manufacturing. It also has a strong EV battery market, making it cheaper for automakers to produce EVs. In addition, the government has introduced broad subsidies for EV producers, viewing the industry as one of three priority areas for China’s economic development and green transition.

In April, Sen. Sherrod Brown, an Ohio Democrat, wrote in a letter to President Biden, “Time and again, we have seen the Chinese government dump highly subsidized goods into markets for the purpose of undermining domestic manufacturing… We cannot let the same occur when it comes to EVs.”

Expanding into Latin America

Despite strict U.S. tariffs on Chinese EVs, the market continues to grow as many Chinese firms sign deals with Mexico to expand their nearshoring activities. Chinese EV makers are exploring factory sites in the northern Mexican states of Durango, Jalisco, and Nuevo Leon to expand to the growing Latin American market.

At present, U.S.produced EVs cost an average of $55,000, which is around double the price of Chineseproduced offerings.

Latin America’s EV market revenue is expected to reach $41.3 billion this year and achieve a CAGR of 8.49% between 2024 and 2029.

Chinese EV maker Build Your Dreams (BYD) surpassed Tesla as the world’s largest seller of EVs in 2023. Brazil has become BYD’s biggest overseas market, and Mexico is quickly catching up. BYD is expected to confirm details of its planned manufacturing plant in Mexico by the end of the year, which will produce approximately 300,000 units a year and create over 10,000 jobs. Jorge Vallejo, BYD’s general director in Mexico, recently stated that he expects BYD to sell 50,000 EVs in Mexico this year, and 100,000 in 2025.

In addition to breaking the Latin American market, Chinese EV makers are also using Mexico as a backdoor to the U.S. market. The United States-Mexico-Canada Agreement (USMCA) free trade agreement allows companies that manufacture products in Canada or Mexico and can prove that the building materials are sourced locally to export goods to the U.S. virtually duty-free.

The ability of Chinese companies to produce highly competitive, low-cost EVs is encouraging more players to launch operations at home and abroad. China is rapidly gaining a very dominant hold on the global EV market, even in the face of strict tariffs, a trend that is likely to continue.

POLICY

U.S. Supports Future of Critical Minerals Mining

By: Felicity Bradstock

As part of plans for a green transition, the U.S. is developing a strong critical minerals sector, which includes developing domestic mining projects and strengthening regional supply chains.

Critical minerals, such as lithium, nickel, cobalt, manganese and graphite, are viewed as vital components of a green transition, needed for clean technologies and renewable energy projects worldwide. They are crucial to battery performance and support the running of a range of components in clean energy projects.

Critical Minerals Market Outlook

The International Energy Agency’s (IEA) Global Critical Minerals Outlook 2024 showed that despite demand growth, the market size for energy transition minerals contracted by 10% to $325 billion in 2023. This was mainly due to a reversal in the price inflation seen in the critical minerals market in recent years, as the world began to significantly expand its renewable energy capacity in support of a global green transition.

The IEA predicts that the combined market value of key energy transition minerals, which

include copper, lithium, nickel, cobalt, graphite and rare earth elements, will more than double to reach $770 billion by 2040 under its Net Zero Emissions (NZE) by 2050 Scenario.

Federal funding

In the U.S., the Biden administration sought to strengthen and secure the country’s critical mineral supply chains in support of green transition ambitions. This has also been a geopolitical move to counter China’s dominance in the international minerals market.

In Biden’s first weeks in office, he signed Executive Order 14017, America’s Supply Chains, mandating a 100-day review of U.S. critical mineral supply chains. The report’s recommendations guided the federal government’s funding decisions for critical minerals.

By September last year, the Biden administration had announced over $120 billion in investments in battery and critical mineral supply chains, with significant funding coming from the 2022 Inflation Reduction Act (IRA) and 2021 Bipartisan Infrastructure Law (BIL).

In April, the Department of Energy (DoE) announced an investment of $17.5 million for four projects aiming to reduce

the costs and environmental impacts of the onshore production of rare earths and critical minerals. Funded by the BIL, the initiative aims to increase the domestic supply of critical minerals. In July, the DoE announced an additional $10 million in funding for the project.

Former U.S. Secretary of Energy Jennifer Granholm stated, “The investments announced today will increase our national security while helping rebuild America’s manufacturing sector and revitalize energy and mining communities across the country.”

Latin American Supply Chains to Support Critical Mineral Security

As well as developing the domestic critical mineral mining sector, the Biden administration focused on strengthening regional supply chains. Following the Covid-19 pandemic, the need to shift from a globalized to a more local approach to supply chains became evident as the U.S. and other countries experienced significant supply chain disruptions and severe delays to projects across various industries.

Latin America is home to an abundant supply of critical minerals. The ‘lithium triangle’, the world’s largest supply of lithium –needed for electric vehicle (EV) and electronics batteries, is situated in Chile, Bolivia, and Argentina. Meanwhile, Chile, Peru, and Mexico are rich in copper, and Brazil is thought to hold 17% of the world’s nickel.

The U.S. dependence on critical mineral imports is expected to continue under President Donald Trump, following his inauguration in January. Latin America will likely play a major role in the supply of minerals and rare earths to the U.S. in the coming decades, due to its close proximity and abundant supply.

The House of Representatives approved a Republican-sponsored bill in November

that would link the Department of Energy’s identification of basic materials with the U.S. Geological Survey’s (USGS) list of critical minerals. The Critical Mineral Consistency Act would grant all products the same benefits as the existing USGS list, thereby making them eligible for clean energy tax credits and financial support, pending Senate approval.

The director of compliance and business intelligence at consultancy Control Risks Rodrigo Russo explained that “strengthening strategic alliances with Latin American countries that have mining” could help Trump in his strategic aim to counter China’s growing global role in certain industries.

Greater support is Still Needed

Nevertheless, as the global demand for critical minerals continues to grow, in line with the expansion of renewable energy capacity and the uptake of EVs, many energy and mining experts are asking for greater support for the industry.

Several key players in the American critical minerals industry wrote an open letter to Congress on Price Support for U.S. Critical Minerals in December calling for the government to introduce “Federal price support for critical minerals and materials as a key part of its strategy to secure supply chains”.

The letter also requested that “lawmakers include in future critical mineral legislation the authority for programs to utilize flexible financing tools, such as those described above, and ‘other transactions’ to provide projects with price support. This authority is key to mobilizing private sector investment and catalyzing the American critical minerals industry.”

DOE Commits $30 Million to Grid Modernization

By: Felicity Bradstock

The U.S. Department of Energy (DoE) has committed $30 million to ease the interconnection backlog and deliver more energy supply to America’s power grid. This was part of larger plans from the Biden administration to improve the country’s energy grid in preparation for an influx of renewable energy connections countrywide.

$30 Million DoE Investment

In November, the DoE announced an investment of $30 million, with funds from the Bipartisan Infrastructure Law (BIL), to accelerate the interconnection process for new energy generation through the introduction of artificial intelligence (AI) techniques.

The Artificial Intelligence for Interconnection (AI4IX) program will help foster partnerships between software developers, grid operators, and energy project developers to modernize the interconnection application process and significantly reduce the time required to review, approve, and commission new generation interconnections across the country.

Former U.S. Secretary of Energy Jennifer Granholm stated, “Artificial intelligence is an energy solution capable of helping clear an interconnection backlog that will free up new energy sources to ensure consumers have power when and where they need it.”

As more renewable energy projects come online, many of which are in non-traditional energy production regions of the U.S., utilities have not been able to keep pace in connecting them to the grid. New generation interconnection can take up to seven years, which could lead to an unnecessarily prolonged reliance on fossil fuels, even when the green alternatives are in place and ready to provide clean energy. The Queued Up Report showed

that active but unconnected capacity stands are around twice the capacity of the current connected generation.

Part of the reason for the delays is the ongoing reliance on manual interconnection applications. Through the new funding, the DoE aims to deploy AI techniques to reduce the reliance on humans and speed up the connectivity process. AI algorithms can accelerate the pace of new connections and identify deficient applications to quickly notify applicants to fix the problem.

The DoE is supporting a range of AI transmission projects to add more green power to the grid at a faster pace than was previously possible. The Department’s Grid Resilience and Innovation Partnership (GRIP) Program supports GridUnity’s multi-state project to deploy AIenabled software to improve the efficiency of the interconnection process to enhance energy reliability, security, and lower costs.

Meanwhile, the DoE Office of Energy Efficiency and Renewable Energy is leading the Interconnection Innovation e-Xchange (i2X) Transmission initiative, which fosters partnerships between diverse groups involved in interconnection activities to share best practices and drive innovation.

AI to Support Grid Efficiency and Modernization

The California ISO, which manages the flow of electricity across high-voltage, long-distance power lines, recently outlined some of the main ways in which AI can help boost grid efficiency:

• Grid Planning

 Analyzing historical data to predict future demand and develop load and variable energy resource profiles for optimal future grid expansion plans.

 Optimizing the placement of new infrastructure.

• Grid Operations

 Improving demand and variable supply forecasting, real-time monitoring of grid conditions, and automated responses to dynamic changes in grid conditions.

• Reliability and Resilience

 Helping with predictive maintenance of equipment, fault detection, diagnosis, and anomaly detection.

 Assisting in stress testing by simulating extreme conditions, developing adaptive responses, and modeling recovery scenarios to help build a resilient grid that can withstand and recover from disruptions.

Criticism of the Aging U.S. Grid

In recent years, many energy experts have criticized the U.S. grid for being highly fragmented and outdated. Much of the aging infrastructure is vulnerable to severe weather events and is unprepared for the influx of new renewable energy generation heading its way.

The U.S. electric grid comprises the Eastern, Western, and Electric Reliability Council of Texas (ERCOT) interconnections

In November, the DoE announced an investment of $30 million, with funds from the Bipartisan Infrastructure Law (BIL), to accelerate the interconnection process for new energy generation through the introduction of artificial intelligence (AI) techniques.

— three separate power grids isolated from each other. And the high-voltage, long-distance electric transmission lines delivering energy are more isolated still. The mainland has 12 different transmission planning regions, which all fall under federal jurisdiction, except the ERCOT. But these systems also fall under different regional management, making them highly uncoordinated.

In August, the Biden administration announced plans to invest $2.2. billion to overhaul the national power grid, protecting it against extreme weather events and preparing it for the increase in demand from tech companies powering giant data centers. The upgrades to the grid will add almost 13

GW of capacity and support eight projects across 18 states.

Jennifer Granholm stated, “The first half of 2024 has already broken records for the hottest days in Earth’s history, and as extreme weather continues to hit every part of the country, we must act with urgency to strengthen our aging grid.”

This was one of several projects announced by the Biden administration to improve the U.S. grid system since the launch of the 2021 BIL and the 2022 Inflation Reduction Act. The recent funding announcement from the DoE is expected to spur greater modernization in the sector and encourage utilities across the country to adopt new technologies, such as AI, to support operations.

Are Oil Refiners Gouging You? California’s Data Tells a Different Story

By: Robert Rapier

In 2022, California Governor Gavin Newsom signed SB-1322, the Oil Refiner Price Disclosure Act, into law. The legislation was hailed as a major step toward transparency, requiring refiners in California to report detailed monthly data on their gasoline profit margins. Specifically, refiners must disclose:

• The cost of crude oil purchased

• The wholesale price of gasoline sold

• The gross and net profits earned per gallon of refined gasoline

Supporters, including consumer advocacy groups like Consumer Watchdog, argued that SB-1322 would expose “excessive profits” earned by refiners and hold them accountable amid California’s notoriously high gasoline prices. In fact, Gavin Newsom continues to claim that oil companies are fleecing California consumers.

However, a little over two years after signing the bill into law, the data tells a different story. Far from uncovering windfall profits, the disclosures reveal razor-thin — and often negative — margins for refiners in the state.

Gross vs. Net: The Misleading Narrative

In early 2024, several public interest groups pointed to California Energy Commission (CEC) data showing that refiners earned gross margins (which these groups mischaracterized as “gross profits”) exceeding $1 per gallon in 2023. They urged the CEC to impose a price-gouging penalty ahead of the summer driving season.

But this interpretation missed a critical point: gross margins do not equal net profits. The CEC defines Gross Gasoline Refining Margin as the wholesale gasoline price minus the cost of crude oil. To derive the Net Gasoline Refining Margin, refiners must subtract operational costs, which averaged just over $1 per gallon during the reporting period.

Since California began reporting net margins in June 2023, the data paints a very different picture than that promoted by supporters of anti-gouging measures. Over the past 11 months that have been reported, refiners posted a positive net margin in only six months. The average net profit margin from June 2023 to April 2024 was just $0.09 per gallon — hardly the excessive profits that critics claim.

Follow the Money: Where Do Gasoline Dollars Go?

If refiners are not the primary cause of California’s skyhigh gasoline prices, where does the money go? According to CBS 8 San Diego, Californians pay roughly $1.40 per gallon in taxes and fees — the highest in the nation. Here’s the breakdown:

• State Excise Tax: 57.9 cents per gallon (as of July 2024)

• Federal Excise Tax: 18.4 cents per gallon

• Cap-and-Trade Program: 23 cents per gallon

• Low-Carbon Fuel Standard (LCFS): 18 cents per gallon

• Underground Storage Tank Fee: 2 cents per gallon

• Sales Tax: ~3.7% of the retail price

These taxes and regulatory fees combined with California’s stringent fuel standards — which mandate unique summer and winter gasoline blends — drive up prices far more than the refiners’ net margins.

Conclusion: The Real Culprits Behind California’s High Gas Prices

SB-1322 may have been designed to shine a light on oil refiners, but its findings reveal a fundamental truth: California itself profits more from gasoline sales than the refiners do. When operational costs are factored in, the profits earned by refiners are minimal.

If policymakers and consumer groups are serious about tackling high gasoline prices in the state, they would be better served scrutinizing California’s tax and regulatory structure instead of targeting the refiners.

BUSINESS

Energy Highlights of 2024

By: Robert Rapier

U.S. Oil Dominance: Another record-breaking year for U.S. oil production, surpassing 2023’s historic high by nearly 3%.

AI and Energy Transformation: Artificial intelligence reshaped energy efficiency, grid management, and renewable optimization while driving demand from data centers.

EV Growth and Climate Impact: Electric vehicle sales soared globally, even as 2024 recorded the hottest year to date, underscoring the urgency of balancing growth with sustainability.

The energy sector in 2024 was marked by steady progress rather than seismic shifts, with moderate oil prices reflecting a year largely unshaken by geopolitical turbulence. Here’s a closer look at some of the key energy stories that defined the year.

1. U.S. Oil Production Reaches Historic Highs

In 2024, the United States continued its upward trajectory in oil production, surpassing the previous record set in 2023. That means that once again, the U.S. produced more oil than any country in history. Final numbers won’t be available until January, but the previous record will be beaten by nearly 3%. This achievement underscores the nation’s ongoing energy dominance, driven by technological advancements and strategic infrastructure investments.

2. Record carbon emissions and global temperatures

2024 was recorded as the hottest year to date, with global average temperatures reaching 1.54°C above pre-industrial levels. This unprecedented warmth contributed to climate-related disasters worldwide, including extreme heatwaves, droughts, and wildfires. In Spain, for instance, the country faced significant heatwaves leading to over 8,000 heat-related deaths and severe droughts that drastically reduced olive oil production.

3. The Rise of AI in Energy

Artificial Intelligence (AI) became increasingly integral to the energy sector in 2024. The rise of AI technologies significantly increased energy demand from data centers. But AI applications are also enhancing grid management, optimizing energy distribution, and improving the efficiency of renewable energy sources. The U.S. Department of Energy has identified AI as a key tool in areas such as planning, permitting, operations, and reliability, aiming to bolster the resilience and efficiency of the energy grid.

4. Electric vehicle sales surge

Electric vehicle (EV) sales experienced significant growth globally in 2024, rising 32% from 2023 for a third consecutive record high. China leads all countries in EV sales. In the United States, the combined market share of hybrid vehicles, plug-in hybrid electric vehicles, and battery electric vehicles increased from 17.8% in the first quarter to 18.7% in the second quarter of 2024. This upward trend reflects an ongoing shift towards sustainable transportation options.

5. California’s Regulatory Actions

California revised its Renewable Portfolio Standard (RPS) targets, now requiring that 60% of electricity be generated from renewable sources by 2030, as a step towards its 2045 goal of 100% clean energy.

Governor Gavin Newsom also signed legislation aimed at curbing gasoline prices. These measures included capping refiners’ profits and regulating gasoline inventories, amidst rising gas prices.

Final Thoughts

Last year in energy was a story of innovation and ongoing transformation. While the absence of major geopolitical disruptions kept markets relatively stable, significant milestones underscored the dynamic nature of the sector.

From record-breaking U.S. oil production to the rapid rise of artificial intelligence and electric vehicles reshaping energy consumption, 2024 highlighted both the opportunities and challenges of a rapidly evolving industry.

At the same time, record global temperatures and California’s aggressive regulatory actions served as stark reminders of the urgency of balancing energy growth with sustainability. As we look to 2025, the energy sector stands poised at the intersection of tradition and transformation, continuing to navigate its pivotal role in powering the global economy, but also facing the problem of growing global carbon emissions.

From Promise to Pitfall:

HOW NORTHVOLT’S STRUGGLES REVEAL GREEN TECH CHALLENGES

By: Robert Rapier

Arecent Financial Times article highlighted the challenges faced by Northvolt, once considered Europe’s flagship battery manufacturing startup, and underscores broader concerns about the green industrial transition in Europe. However, those same lessons are applicable for the U.S. as it seeks to compete in a space dominated by China.

Systemic Challenges in Green Transition

Northvolt’s bankruptcy serves as a cautionary tale about Europe’s struggle to compete in the electric vehicle (EV) and clean tech sectors against better-established Asian companies. While Northvolt secured substantial orders and funding ($15 billion raised and $50 billion in orders), it was hampered by production delays, operational mismanagement, and an inability to scale effectively. This reflects broader systemic challenges such as high costs, regulatory hurdles, and fragmented policymaking across Europe.

Northvolt’s bankruptcy also reflects the challenges posed by political shifts and economic uncertainty. In the U.S., bipartisan support for clean energy is critical to ensure that initiatives survive changes in administration or economic downturns. Policymakers must build resilience into programs to ensure they can withstand external shocks, such as fluctuating energy prices or global market competition.

Policy and Investment Disconnect

The article criticizes Europe’s inconsistent support for clean technologies. Unlike China’s coordinated industrial policies, European policymakers have been hesitant to act decisively, even as green initiatives face growing political resistance. Comparisons to bailouts for financial institutions highlight a reluctance to treat green tech failures as critical to economic and strategic interests. This hesitance could jeopardize the continent’s climate goals and its automotive sector, which is heavily reliant on transitioning to EVs.

Similar to Europe, the U.S. needs a unified, longterm industrial policy for green technology. The Inflation Reduction Act (IRA) provided significant incentives for domestic clean energy development, but ensuring these funds are effectively deployed requires strong coordination between federal, state, and local governments. Northvolt’s struggles

highlight the risks of fragmented policies and hesitation, which could undermine investor confidence and the timely rollout of critical infrastructure.

Lessons

from Northvolt’s Missteps

Northvolt’s collapse can be attributed to a combination of internal missteps and external pressures. According to current and former employees, excessive spending, subpar safety standards, and an over-reliance on

Chinese machinery significantly hampered the company’s ability to scale effectively.

Externally, slower-than-anticipated adoption of electric vehicles (EVs) and high operational costs placed additional strain on the business. These challenges underscore the need for greater operational discipline, diversified supply chains, and a robust domestic manufacturing base to avoid such pitfalls.

The United States can take valuable cues from its semiconductor initiatives, like the CHIPS and Science Act, to support clean technologies such as battery manufacturing. Prioritizing diversified supply chains and fostering advanced domestic production capabilities can mitigate risks and bolster competitiveness, especially against established players like China.

One potential takeaway from Northvolt’s struggles is the need to integrate the secondlife battery market into business strategies. By focusing on repurposing surplus batteries for secondary applications, manufacturers can reduce inefficiencies and strengthen supply chains. This approach not only addresses sustainability concerns but also enhances competitiveness in a market increasingly shaped by Chinese dominance.

Currently, a significant gap exists between battery manufacturers like Northvolt and recyclers such as Redwood Materials. Companies like Bluewater Battery Logistics are working to bridge this divide by redistributing functional surplus batteries for second-life applications rather than recycling them prematurely. This strategy taps into a lucrative market opportunity and highlights the potential of “reverse logistics” to transform the industry.

Innovative approaches to battery reuse might have dramatically improved both operational efficiency and market viability.

Ben Firestone, CEO of Bluewater Battery Logistics, has emphasized that prioritizing the

second-life battery market enables battery integrators to streamline supply chains and maintain a competitive edge.

Implications for Future Investment

Despite its collapse, Northvolt’s Chapter 11 filing aims to secure short-term financing and attract new investors to reorganize. This restructuring underscores the high capital intensity and risk associated with battery production but also reveals potential opportunities for those willing to bet on long-term clean energy growth. Policymakers and investors must balance the risks with the strategic necessity of developing domestic clean tech capabilities.

The U.S. can draw from the coordinated public-private partnerships that have worked in other sectors, such as aerospace and pharmaceuticals. Encouraging collaboration between government agencies, established corporations, and startups can de-risk large-scale projects and ensure that new technologies like Enhanced Geothermal Systems (EGS) or advanced batteries succeed.

Conclusions

Northvolt’s bankruptcy is not just the failure of a company but a wake-up call for Europe’s clean tech ambitions. To compete globally, the continent needs cohesive policies, streamlined regulations, and unwavering support for critical green technologies. As the push for decarbonization accelerates, addressing these issues will be vital to ensuring that Europe can sustain and grow its green economy.

Northvolt’s challenges offer a roadmap for avoiding similar pitfalls in the U.S. The focus should be on strategic planning, operational discipline, supply chain resilience, and clear, long-term policies that support innovation and competitiveness. If these lessons are heeded, the U.S. can strengthen its leadership in the global clean energy transition.

Energy Prospects for 2025:

HOW A TRUMP WHITE HOUSE CHANGES THE OUTLOOK FOR ENERGY

By: Jess Henley

Trump officially took office on January 20th, and the energy landscape is poised to head in a new direction under the president’s administration. With promises of “American energy dominance,” a new National Energy Council, and a renewed effort to meet ever-growing energy demands, a Trump presidency is sure to change American energy prospects over the next four years.

While the president has not withheld his views on the energy sector in his campaign or in his pre-office communications, what does it mean for everyday Americans? Here’s what we know about the energy prospects for 2025 under a Trump Administration.

Shifting the Focus Back to Fossil Fuels

“Drill, drill, drill!” has been a pillar of Trump’s previous policies and his campaigns leading up to the election. The presidentelect has been far from shy about his intentions to increase oil and natural gas production in the U.S., leading to “American energy dominance.”

Naturally, lowering gas prices has also been a cornerstone of the president’s campaign promises. Increasing oil and gas production and developing a more favorable system for oil and gas companies promises to be the linchpin in the plan to lower gas prices and allow Americans to keep more in their pocket.

A New National Energy Council

The incoming president announced Doug Burgum as the new National Energy Council leader. According to Politico, “The position will oversee the “drill, baby, drill’ effort that Trump made a centerpiece of his presidential campaign that sharply criticized President Joe Biden’s climate policies as stifling energy

output and forcing allies to rely on U.S. rivals for energy.”

The National Energy Council “will consist of all Departments and Agencies involved in the permitting, production, generation, distribution, regulation, transportation, of ALL forms of American Energy,” Trump said.

The National Energy Council would be among the first initiatives rolled out by the new administration, establishing a precedent for Trump’s eagerness to initiate sweeping energy reform right out of the gate.

Additionally, the Council will help reduce governmental bureaucracy and delays in energy permitting for US oil and natural gas production. This move will streamline and simplify energy production efforts.

The Tariff Question

One of the president’s key strategies for establishing American energy dominance lies within leveraging new tariffs against imported goods, including oil and gas. While some argue that tariffs could “threaten global trade,” Trump and his allies argue that a 25% tariff on all imported goods would “help protect US manufacturing, bring new companies to the US, and deliver billions in federal revenue,” according to CBS News.

Additionally, Trump notes that the proposed tariffs could help reduce the flow of drugs and illegal immigration from our neighboring countries of Canada and Mexico. If all goes according to the president's plans, the tariffs would have multi-functional properties, boosting American energy development and aiding situations at the border.

Renewables Under a Trump Presidency

Although Trump’s rhetoric primarily focuses on oil and gas within the energy sector, renewables are likely not going anywhere. As an integral part of the American energy mix, renewable energy sources, like wind, solar, and battery technologies, represent a significant investment and job in the renewable energy sector.

In his announcement of the National Energy Council, the incoming president noted that his ambition was to increase all forms of US Energy production, not just oil and gas, leading many to believe that the president intends to allow renewable energy production to increase alongside fossil fuels.

Part of Trump’s motivation to create a superior American energy system lies in the increasing demands posed by AI and the energy-sapping data processing centers

Naturally, lowering gas prices has also been a cornerstone of the president’s campaign promises. Increasing oil and gas production and developing a more favorable system for oil and gas companies promises to be the linchpin in the plan to lower gas prices and allow Americans to keep more in their pocket.

it requires. Trump claims that having a superior energy sector is directly linked to national security as other nations continue to advance their AI technologies and capabilities.

Challenges & Hurdles

Naturally, the energy proposals have been met with mixed feelings and sentiments on both sides. While some

praise the incoming president for his focus on American manufacturing and energy production, others claim his bold moves could be hazardous for the global economy and environmental risks. However, the opposition has not swayed the president’s drive or discouraged his motivation to pursue American energy dominance.

About the author: Jess Henley began his career in client relations for a large manufacturer in Huntsville, Alabama. With several years of leadership under his belt, Jess made the leap to brand communications with Bizwrite, LLC. As a senior copywriter, Jess crafts compelling marketing and PR content with a particular emphasis on global energy markets and professional services.

ALTA Houston Manager’s Meeting Luncheon

Carl McCain Christmas

Webhead 30th

with San Antonio mayor Ron Nirenberg

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