If finalized, this proposal would undo the underpinning of $1 trillion in costly regulations, save more than $54 billion annually
INDIANAPOLIS – At an auto dealership in Indiana, U.S. Environmental Protection Agency (EPA) Administrator Lee Zeldin released the agency’s proposal to rescind the 2009 Endangerment Finding, which has been used to justify over $1 trillion in regulations, including the Biden-Harris Administration’s electric vehicle (EV) mandate. If finalized, the proposal would repeal all resulting greenhouse gas emissions regulations for motor vehicles and engines, thereby reinstating consumer choice and giving Americans the ability to purchase a safe and affordable car for their family while decreasing the cost of living on all products that trucks deliver. Administrator Zeldin was joined by U.S. Secretary of Energy Chris Wright, Indiana Governor Mike Braun, Indiana Attorney General Todd Rokita, U.S. Representative Jim Baird (R-IN-04), Indiana Secretary of Energy and Natural Resources Suzanne Jaworowski, and the Indiana Motor Truck Association.
Since the 2009 Endangerment Finding was issued, many have stated that the American people and auto manufacturing have suffered from significant uncertainties and massive costs related to general regulations of greenhouse gases from vehicles and trucks. Finally, EPA is proposing to provide much needed certainty and regulatory relief, so companies can plan appropriately, and the American people can have affordable choices when deciding to buy a car.
“With this proposal, the Trump EPA is proposing to end sixteen years of uncertainty for automakers and American consumers,” said EPA Administrator Zeldin.“In our work so far, many stakeholders have told me that the Obama and Biden EPAs twisted the law, ignored precedent, and warped science to achieve their preferred ends and stick American families with hundreds of billions of dollars in hidden taxes every single year. We heard loud and clear the concern that EPA’s GHG emissions standards themselves, not carbon dioxide which the Finding never assessed independently, was the real threat to Americans’ livelihoods. If finalized, rescinding the Endangerment Finding and resulting regulations would end $1 trillion or more in hidden taxes on American businesses and families.”
The Endangerment Finding is the legal prerequisite used by the Obama and Biden Administrations to regulate emissions from new motor vehicles and new motor vehicle engines. Absent this finding, EPA would lack statutory authority under Section 202(a) of the Clean Air Act (CAA) to prescribe standards for greenhouse gas emissions. This proposal, if finalized, is expected to save Americans $54 billion in costs annually through the repeal of all greenhouse gas standards, including the Biden EPA’s electric vehicle mandate, under conservative economic forecasts.
If finalized, this proposal would remove all greenhouse gas standards for light-, medium- and heavy-duty vehicles and heavy-duty engines, starting with EPA’s first greenhouse gas set in 2010 for light-duty vehicles and those set in 2011 for medium-duty vehicles and heavy-duty vehicles and engines—which includes off-cycle credits like the much hated start-stop feature on most new cars.
EPA’s proposal also cites updated scientific data that challenge the assumptions behind the 2009 Endangerment Finding. Cited data includes the updated studies and information in the Department of Energy’s 2025 Climate Work Group study that is concurrently being released for public comment.
EPA will initiate a public comment period to solicit input. Further information on the public comment process and instructions for participation will be published in the Federal Register and on the EPA website.
Today, U.S. Secretary of the Interior Doug Burgum announced four policy measures to advance President Donald J. Trump’s commonsense approach to affordable, reliable energy development in America.
In alignment with President Donald J. Trump’s directives, the Department of the Interior is ending special treatment for unreliable energy sources, such as wind. This includes evaluating whether to stop onshore wind development on some federal lands and halting future offshore wind lease sales. The Department will also study how constructing and operating wind turbines might affect migratory bird populations.
These changes are part of a broader America First energy strategy focused on affordability, reliability, and accountability for the American people. As part of efforts to support a stable power grid and elevate local voices, the Department will improve consultation with tribes, local communities, and the fishing industry regarding offshore wind projects. The latest reforms aim to ensure that energy development reflects local land-use priorities and community values.
“These policy changes represent a commonsense approach to energy that puts Americans’ interests first,” said Secretary Doug Burgum. “Leveling the playing field in permitting supports energy development that’s reliable, affordable, and built to last. We’re also making sure tribes and local communities have a real seat at the table. This move is about responsible energy growth that works for every American.”
Today’s announcements include:
Stopping Preferential Treatment for Wind Projects
Secretary’s Order No. 3437, “Ending Preferential Treatment for Unreliable, Foreign-Controlled Energy Sources in Department Decision-Making,” directs the Department of the Interior to end preferential treatment for unreliable energy sources like wind. The Order calls for identifying policies biased in favor of wind and solar energy and halting support for energy supply chains controlled by foreign rivals. In line with the January 20, 2025, Presidential Memorandum on Wind Energy, the Department will review its policies to identify and remove favoritism toward unreliable energy, with a report of recommended reforms to be submitted under Section 5 of Executive Order 14315.
Restoring Congress’s Mandate to Consider All Uses of Our Public Lands and Waters Equally
The Department will consider withdrawing areas onshore with high potential for wind energy development to ensure compliance with legal requirements for multiple use and sustained yield of public lands. This means balancing energy development with other important uses—such as recreation and grazing—and protecting BLM-managed lands, as envisioned by Congress. Additionally, at the end of the last administration, over 3.5 million acres offshore were designated as Wind Energy Areas, which are pre-approved zones where the federal government could auction leases for offshore wind development. By terminating these Wind Energy Areas, we are safeguarding our coastal environments and local economies from unchecked development, while ensuring our power grids are not underpinned by unreliable, subsidized energy sources.
Enhancing Stakeholder Engagement for Offshore Wind Development
The Department will strengthen its guidance to ensure more meaningful consultation regarding offshore wind development, especially with tribes, the fishing industry, and coastal towns. The construction and operation of offshore wind turbines have disproportionate impacts on these stakeholders, from disrupting commercial fishing to driving away tourism. By addressing current gaps, this updated guidance will support greater collaboration, transparency, and respect for community and regional priorities.
Reviewing the Consequences of Developing Wind Turbines on Migratory Birds
The Department will conduct a careful review of avian mortality rates associated with the development of wind energy projects located in migratory flight paths and determine whether such impacts qualify as “incidental” takings of birds under the Migratory Bird Treaty Act and related laws. The Department will also conduct a review of the applicable regulations to determine the appropriate approach to permitting these activities, identifying violations of the applicable statutes, and related penalties.
New gas purchase commitments are helping foreign trade partners avert a wave of U.S. tariffs set to take effect Aug. 1.
U.S. gas exports are getting a boost from their role as a key bargaining chip in the Trump administration’s trade negotiations.
Fresh off wins for the fossil fuel sector in the Republican megalaw, the Trump administration is now pushing hard in the talks for countries to buy U.S. fossil fuels, most notably natural gas that’s liquefied for easy export over long distances.
New gas purchase commitments from foreign trade partners are helping to avert a wave of U.S. tariffs set to take effect Aug. 1. Commerce Secretary Howard Lutnick said in recent days that the final sprint on trade talks will be “for the record books,” adding that countries will be hit with tariffs in August if deals aren’t reached.
“LNG is playing a significant role in the bilateral trade talks,” Mark Menezes, president of the U.S. Energy Association trade group and a former Department of Energy official in Trump’s first term, said in an interview. “It’s certainly a way to address the trade imbalance and also the potential tariffs.”
As of last week, 14 binding deals and seven tentative ones have been signed this year for U.S. LNG, said Talon Custer, an energy equity analyst at Bloomberg Intelligence.
This week, President Donald Trump announced new trade deals with Japan and Indonesia and deals with Malaysia and the European Union appear close. While Trump is touting the deals as major breakthroughs for U.S. industry, they are not the traditional, all-encompassing free trade agreements that typically take months or years to negotiate and enact into law with congressional approval.
Still, on Tuesday, Trump said the United States had reached a trade agreement with Japan that will include a “major expansion of U.S. energy exports.”
He said the United States and Japan are likely forming a “joint venture” in Alaska around LNG, telling Interior Secretary Doug Burgum to “set that up.” Trump has been talking about the potential venture for months.
Apple signed a $500 million, four-year deal with MP Materials for rare earth magnets.
The MP-Apple deal guarantees Apple a steady flow of rare earth magnets free from China’s control and reduces the long-term risk of losing access should China mount magnet restrictions in the future.
The backing from Apple comes after MP, which operates the only U.S. rare earths mine, agreed to a multibillion-dollar deal with the U.S. Department of Defense that will make the federal government MP’s largest shareholder and provide a financial backstop for MP.
According to Reuters, Apple has signed a $500 million, four-year agreement with MP Materials to secure a steady supply of rare earth magnets, a move aimed at reducing supply chain risks after China imposed export restrictions earlier this year. MP Materials, which runs the only rare earths mine in the U.S., recently entered a multibillion-dollar partnership with the Department of Defense, making the federal agency a major stakeholder. The deal ensures Apple access to rare earth magnets independent of China, the dominant global supplier. Given Apple’s heavy reliance on these components for products like the iPhone’s haptic engine, as well as audio equipment and microphones, the investment strengthens its long-term supply security in case of further Chinese export limits.
Additional reporting from Reuters notes that as part of the deal, Apple will prepay MP Materials $200 million for a future supply of magnets from the company’s Texas facility, which is expected to begin operations in 2027. The agreement also includes plans to build a new recycling facility at MP’s Mountain Pass site in California, where materials from discarded electronics will be recovered and reused in future Apple products. Additionally, Apple and MP plan to construct another factory in Fort Worth, Texas, to manufacture magnets for use in Apple devices and other electronics globally. The companies have not disclosed the specific volume of magnets covered by the agreement.
Lucid, Alaska Energy Metals and other mining and processing companies have formed a collaborative group called Minerals for National Automotive Competitiveness (“MINAC”)
MINAC will promote the use of the United States’ vast mineral resources to create jobs, fuel prosperity, and significantly reduce reliance on foreign nations within the automotive supply chain
The initiative aligns with and advances the US Government’s national goals outlined in President Trump’s Executive Order entitled Immediate Measures to Increase American Mineral Production, issued on March 20, 2025
Other participants include Graphite One, Electric Metals, and RecycLiCo.
VANCOUVER, BC / ACCESS Newswire / July 24, 2025 / Alaska Energy Metals Corporation (TSXV:AEMC) (OTCQB:AKEMF) (“AEMC” or the “Company“) is pleased to announce that it has signed a Memorandum of Understanding (“MOU“) with Lucid Group, Inc (“Lucid” NASDAQ:LCID), maker of the world’s most advanced electric vehicles, and an array of mining and mineral processing companies that includes AEMC, Graphite One (“Graphite One“) (TSXV:GPH), Electric Metals USA Inc (“Electric Metals“) (TSXV:EML) and RecycLiCo Battery Materials (“RecycLiCo” ) . The companies have formed a collaborative group named Minerals for National Automotive Competitiveness (“MINAC“).
AEMC President & CEO Gregory Beischer commented: “We are proud and excited to be counted amongst this group of companies. President Trump’s signing of an Executive Order entitled “Unleashing Alaska’s Extraordinary Resource Potential” on his first day in office underscores the key role Alaska can play in advancing American Critical Mineral production. At AEMC we are doing our part to bring Alaska’s critical and strategic minerals to America. We look forward to working with our collaborators in MINAC to leverage our mutual experience, technical capabilities, resources, infrastructure, and know-how to develop resilient domestic automotive mineral supply chains.”
MINAC is designed as a partnership to advance the national goals outlined in the President’s Executive Order “Immediate Measures to Increase American Mineral Production.” The collaborative group will promote the use of the United States’ vast mineral resources to create employment opportunities, drive economic prosperity, and significantly reduce our reliance on foreign nations within the automotive supply chain.
The partnership was announced on July 23, 2025, during a formal launch event featuring a roundtable discussion and event with Governor Katie Hobbs (D-AZ), U.S. Senator Dan Sullivan (R-AK), and U.S. Representatives Nick Begich (R-AK) and Andy Biggs (R-AZ). MINAC is “committed to developing a robust domestic automotive supply chain that supports local economies, creates high-paying jobs, and strengthens the resilience of the automotive sector,” while also acknowledging the pivotal role of critical and strategic minerals for defense applications.
Beischer continued: “By developing resilient automotive supply chains, we establish commercially viable mining operations that also help strengthen the American Defense Industrial Base. Sourcing minerals domestically enables better regulatory oversight, higher environmental standards, metal source traceability, and responsible sourcing. This approach mitigates harmful environmental and human rights risks often associated with foreign mining operations and provides an opportunity to improve the livelihoods of American communities.”
During the debate on ending subsidies for wind and solar in the One Big Beautiful Bill Act (OBBBA), wind and solar advocates argued that wind and solar energy are significantly cheaper than coal or natural gas-fired power plants.
But real-world utility data show they couldn’t be more wrong.
Mitch dug through the Federal Energy Regulatory Commission (FERC) Form 1 data for the ten largest investor-owned utilities in the Midcontinent Independent System Operator (MISO) regions, accounting for 63 percent of energy sales in 2024, and we found, unsurprisingly, that these plants produce electricity for a much lower cost than new wind turbines or solar panels.
The graph below compares the average cost of existing nuclear, natural gas, and coal plants in the MISO region in 2024 to unsubsidized, new-build wind and solar facilities. As you can see, existing nuclear was the lowest cost, followed by gas steamers, coal, and natural gas combined cycle plants
FERC Form 1 data were used for existing generators. New wind and solar costs were calculated using the U.S. EIA Assumptions to the Annual Energy Outlook 2025 Electricity Market Module. Wind and solar were assumed to have 45 percent and 23 percent capacity factors, respectively.
The existing nuclear, coal, and natural gas plants are incredibly affordable because they have already paid off almost all of their upfront capital costs, and utilities no longer earn much in the way of a rate of return on these depreciated assets. This means the existing plants are some of the lowest-cost, most reliable plants on the entire MISO system.
It’s also important to keep in mind that these are just the average costs for these resources, and some facilities, especially existing coal facilities, could operate at even lower costs if they were utilized more often, which would spread the fixed costs of generating electricity over more megawatt hours, thus reducing their per-unit price.
Rather than rehashing our previous critiques of the Levelized Cost of Energy (LCOE), we decided the best way to add value to this conversation would be to publish the LCOE of existing thermal plants in the MISO region so you can show the wind and solar boosters the error of their ways with our Existing Power Plant Cost Database
Today’s Key Takeaways: CA Governor shifts stance on oil drilling. Santos bid global LNG gamechanger. US transfers 28,000 acres near Ambler project to NANA. Like “zombies in a horror movie” oil market myths just won’t die.
California Governor Gavin Newsom is proposing a bill to streamline permitting for new oil wells that environmental groups say would wipe out scrutiny of the industry.
The bill would establish “plug-to-drill” permitting until 2036 where two wells would have to be plugged and abandoned before a new one is drilled. In addition, drillers no longer would need well approval from the Geologic Energy Management Division, known as CalGem, so long as certain conditions are met.
Shares of in-state drillers climbed on the news, with California Resources Corporation jumping 4.8% and Berry Corp. up 6.9%.
The draft bill text — seen by Bloomberg News and portions of which were leaked by environmental groups — is the latest in a series of recent shifts Newsom has made in approaching the oil and gas industry after years of regulatory scrutiny.
The governor is softening his stance toward the industry this year after refineries operated by Phillips 66 and Valero Energy Corp. decided to shut operations in the state and California’s legislature placed a greater emphasis on reducing costs of living for the state’s 40 million residents.
A spokesperson for the governor said environmental groups are circulating only partial text from the bill.
The deal will have a transformational impact on Abu Dhabi’s market role
Adnoc’s $18.7 billion acquisition bid for Australia’s natural gas and LNG colossus Santos marks a milestone in the evolution of Abu Dhabi’s energy sector.
It’s also the first time a GCC state-owned national oil company has attempted to acquire an upstream E&P major listed on a Western stock exchange.
The deal is politically sensitive: Adelaide-based Santos is a main gas supplier and a major employer in South Australia, where it generates thousands of high-paying jobs.
The fact that Santos’s share price, three weeks after the deal was announced last month, implies a market capitalisation of $16.46 billion, or 12 percent below the Adnoc consortium bid, suggests that the Australian financial markets believe the deal faces significant regulatory hurdles.
Markets aren’t expecting a competing bid, making a bidding war for Santos unlikely. Woodside Energy – which previously explored a merger with Santos – is sidelined from this deal due to likely antitrust pushback from regulators.
Adnoc, meanwhile, has charted a distinct course from its GCC peers such as Saudi Aramco, Kuwait Petroleum, Qatar Energy and Oman’s OQ. Unlike others in the region, Abu Dhabi chose not to nationalise the domestic assets of American, British, Dutch and French supermajors – a decision that continues to shape its outward-facing investment strategy.
Adnoc has formed a series of joint ventures with Western and Asian oil and gas supermajors, including Total, BP, ExxonMobil, CNPC, Japan Oil, Shell and Austria’s OMV.
The Trump administration transferred 28,000 acres (11,331 hectares) in a remote part of Northwest Alaska to a native corporation, putting more land near a proposed mining road under local control.
The move is aligned with President Donald Trump’s pledge to remove barriers to energy and resource development in the state.
“By putting land into Alaska Native hands, we are advancing opportunity in Alaska, while reducing federal barriers to resource development,” Interior Secretary Doug Burgum said in a statement.
The acreage was conveyed to NANA Regional Corporation, which is based in Kotzebue, Alaska. The corporation is controlled by the Inupiat tribe. NANA was not immediately available for comment.
NANA supports construction of a road to the Ambler mining district, an area with copper, zinc and lead deposits, but severed ties last year to a project proposed by an Alaska state agency. The Biden administration later rejected that road, citing risks to caribou and fish populations and native communities
Despite claims of energy independence, the U.S. remains a net crude oil importer, though it is a net petroleum exporter overall.
Oil prices are influenced by a complex interplay of supply, demand, and geopolitical events, not solely by OPEC or U.S. presidents.
While renewables are growing, oil is not expected to be entirely replaced soon due to its essential role in various sectors like transportation and petrochemicals.
They’ve been debunked. Repeatedly. But like zombies in a horror movie, these oil market myths just won’t stay dead. From campaign slogans to cocktail party arguments, here’s what the data really says.
1) The U.S. is Energy Independent
Energy independence has been a key slogan in the campaigns and presidential terms of President Donald Trump. Make America Great Again and Make the US Energy Independent have often been tied into one pledge or claim.
Fact: While the U.S. became a net petroleum exporter in 2020 for the first time since records began in 1949, it still imports more than 8 million barrels per day (bpd) of crude oil, refined products, biofuels, and hydrocarbon gas liquids. In 2023, about 6.48 million bpd of that was crude oil—roughly 76% of total gross petroleum imports—according to the U.S. Energy Information Administration (EIA). That means the U.S. exports more total petroleum than it imports, but it remains a net importer of crude oil specifically.
The top five source countries of U.S. gross petroleum imports in 2023 were Canada, Mexico, Saudi Arabia, Iraq, and Brazil. Canada alone accounted for more than half – 52% — of all petroleum imports into the United States. Mexico came second with an 11% share and Saudi Arabia third with 5% of all U.S. gross petroleum imports.
The common misconception probably comes from the fact that the U.S. also exports crude oil and other petroleum products—and these have exceeded the imports in the past four years.
In 2023, the United States exported about 10.15 million bpd of petroleum to 173 countries and 3 U.S. territories, per the EIA data. Crude oil exports of about 4.06 million bpd accounted for 40% of total U.S. gross petroleum exports. The resulting total net petroleum imports (imports minus exports) were about -1.64 million bpd, which means that the United States was a net petroleum exporter of 1.64 million bpd in 2023.
U.S. petroleum imports peaked in 2005 and have been declining since then as increased domestic petroleum production and increased petroleum exports have helped to reduce annual total petroleum net imports.
The U.S. became a net petroleum exporter in 2020, for the first time since in EIA data going back to 1949.
Although U.S. annual total petroleum exports were greater than total petroleum imports, the United States still imports more crude than it exports, remaining a net crude oil importer.
