In this episode of the Energy News Beat Daily Standup, Michael Tanner and Stuart Turley cover several top headlines, including exploding energy prices in California, Biden's proposed budget impacting the oil and gas industry, Shell considering slowing carbon emission cuts, and countries moving towards rupee trade with India. They discuss the implications of these developments, highlighting concerns over rising energy prices, potential tax changes impacting the industry, shifts in corporate strategies towards fossil fuels, and the geopolitical implications of currency trade agreements. Additionally, they provide insights into oil and gas market movements, including price rebounds driven by geopolitical tensions and strategic petroleum reserve draws, along with corporate maneuvers such as Cambridge's bid to merge with Silver Bow. They also mention upcoming podcast episodes featuring industry experts.

Highlights of the Podcast

00:00 - Intro

01:30 - Exploding Energy Prices in California

05:12 - Biden’s full year 2025 budget hurts oil and gas industry by repealing long-standing tax provisions, IPAA admonishes

08:25 - Shell considers slowing pace of carbon emissions cuts as CEO refocuses on oil and gas

11:33 - Many countries want to start rupee trade with India in “game-changing” de-dollarisation step

14:51 - Markets Update

15:19 - Oil Steady as EIA Confirms Crude, Gasoline Draws

16:18 - Kimmeridge makes new $2.1 bln offer for SilverBow

19:49 - Outro

Please see the links below or articles that we discuss in the podcast.

Exploding Energy Prices in California

March 13, 2024 Mariel Alumit

“California leaders know that rising prices are a huge problem. The state is now considering a plan to tie utility rates to personal income so that the rich pay more and low-income residents pay less. Costly California […]

Shell considers slowing pace of carbon emissions cuts as CEO refocuses on oil and gas

March 13, 2024 Mariel Alumit

(Bloomberg) – Shell Plc has been considering slowing the pace of its carbon-emissions cuts as it updates its energy-transition strategy, according to people familiar with the matter. Any changes to the company’s climate targets could […]

Many countries want to start rupee trade with India in “game-changing” de-dollarisation step

March 13, 2024 Mariel Alumit

Ahmed Adel, Cairo-based geopolitics and political economy researcher On Monday, Union Commerce and Industry Minister Piyush Goyal said that many large and small economies around the world have expressed willingness to start trading in rupee […]

Oil Steady as EIA Confirms Crude, Gasoline Draws

March 13, 2024 Mariel Alumit

The Energy Information Administration reported an estimated inventory draw of 1.5 million barrels for the week to March 8. Gasoline stocks also declined while middle distillates inched up. The figures compared with a crude oil inventory build of 1.4 […]

Kimmeridge makes new $2.1 bln offer for SilverBow

March 13, 2024 Mariel Alumit

March 13 (Reuters) – Kimmeridge Energy Management has submitted a new offer to acquire SilverBow Resources (SBOW.N), opens new tab that values the U.S. oil and gas producer at close to $2.1 billion, including debt, the investment […]

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