In this episode of the Energy News Beat Daily Standup, the host, Michael Tanner covers several major topics impacting the energy sector, including warnings of potential summer power outages in the U.S. due to a strained grid, driven by retiring fossil fuel plants and slower renewable growth. He also discusses the looming rise in California gas prices, which could reach $9 due to refinery closures, and the economic impact of Governor Newsom's oil policies. Additionally, Tanner highlights Saudi Aramco's profit drop due to weak oil prices and an M&A deal where Whitehawk Minerals acquires Phoenix Minerals, signaling a bullish stance on natural gas.

Highlights of the Podcast 

00:00 - Intro

01:32 - U.S. Largest Grid Operator is warning of Summer Power Shortages

05:45 - Newsom’s War On Oil Could Send California Gas Prices To $9, Analyst Warns

12:16 - Markets Update

14:23 - Rig Count Update

14:34 - U.S. Frac Spread Count

14:43 - Aramco Profit Drops With Weak Oil and how will this impact OPEC?

16:45 - WhiteHawk to Acquire PHX Minerals Inc. for $4.35 per Share

19:12 - Outro

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