WHAT’S HAPPENING TODAY:
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WHAT → happen → ?
We made it to the end of another busy week in politics.
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We → make → politics
If you are in the D.C. area this weekend, Adams Morgan will be holding its Fall PorchFest, which will include more than 100 bands and 20 stages hosting live music throughout the neighborhood.
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which → hold → neighborhood
In today’s Daily on Energy, Maydeen spoke with the National Ocean Industries Association on the importance of getting permitting reform done in this Congress to help bolster the deep-sea mining industry.
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reform → speak → industry
If a friend sent this to you and you’d like to sign up
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you → send → you
If signing up doesn’t work, shoot us an email, and we’ll add you to our list.
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we → work → list
Republican Utah Gov. Spencer Cox spoke earlier this week at a critical mineral summit, where he called on the industry to build up domestic production to safeguard national security.
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he → speak → security
“You cannot build a modern electrical grid, advanced aerospace manufacturing, or a resilient domestic economy out of thin air,” Cox said.
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Cox → build → air
“And most importantly, you cannot defend this country without the critical minerals that are the bedrock of American national security.”
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that → defend → security
“If American minerals must still cross an ocean to pass through an adversary’s processing facility before an American defense contractor or manufacturer can actually use them, we do not have true national security,” he added.
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he → cross → security
DEEP-SEA MINING INDUSTRY SAYS PERMITTING REFORM IS KEY TO UNLOCKING NEW RESOURCES:
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PERMITTING → say → RESOURCES
Deep-sea mining has the potential to unlock an abundance of critical mineral resources, but the industry says Congress needs to pass permitting reform to help move forward with development.
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Congress → have → development
National Ocean Industries Association president Erik Milito told Maydeen that the Senate’s bipartisan permitting bill, commonly referred to as BAAJA, is “huge” for growing the offshore mining industry.
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bill → tell → industry
Milito said that permitting reform could help streamline environmental reviews, reduce litigation, and provide greater permit certainty.
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reform → say → certainty
He noted that permitting reform could also make goods and services more affordable for consumers.
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goods → note → consumers
“We’ve been lobbying for it,” Milito said.
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Milito → lobby → it
“We’ve been meeting with both sides of the aisle, letting them know that this is good for everyone, and this could be the last chance.
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this → meet → everyone
If it doesn’t happen now, it may not happen at all, and that means we could see a lost opportunity to address affordability for Americans.
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we → happen → Americans
NOIA represents a number of sectors in the offshore energy industry, including oil and gas, wind, and ocean minerals.
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NOIA → represent → oil
Lawmakers will be returning to D.C. on Monday.
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Lawmakers → return → Monday
They are set to hit the ground running on BAAJA and hold a preliminary vote on the bill.
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They → set → bill
Climate groups in recent weeks have been pushing Democrats to vote against the bill, arguing that it would help to accelerate fossil fuel projects.
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it → push → projects
Deep-sea mining has been a growing industry and one that the administration hopes can boost the domestic supply chain for critical minerals.
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administration → grow → minerals
Deep-sea mining companies have been seeking to recover polymetallic nodules, which are potato-sized rocks that sit on the sea floor.
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that → seek → floor
Those rocks contain a range of minerals, such as cobalt, copper, and iron.
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rocks → contain → cobalt
Trump sought to prop up this industry through an executive order earlier this year calling on federal agencies to help expedite permitting, map out priority areas, and report on private-sector opportunities.
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Trump → seek → opportunities
The Marine Minerals Administration last month announced the U.S. government’s first deep-sea mining lease sale off the coast of American Samoa.
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Administration → announce → Samoa
The lease sale is set to happen on Nov. 19.
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sale → set → Nov.
Milito said, “We’re at an inflection point for the offshore mineral industry.
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We → say → industry
We’re in a position where the technology is there.”
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technology → ’re → position
“We have a lot of companies that are now competing in this space, and with the Trump administration recognizing the opportunity this gives us to compete at a higher level on a global scene, we are in a position to be able to lead as a country when it comes to ocean mineral exploration and development,” he said.
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he → have → exploration
PENTAGON ADVANCES NINE WIND PROJECTS TO CLEAR PATH FOR BAAJA:
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PENTAGON → advance → BAAJA
The Department of War is allowing nine more wind projects to move forward in a bid to win support for the bipartisan infrastructure reform bill from Democrat holdouts who fear the Trump administration will continue to hold up renewable projects.
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administration → allow → projects
Two of the projects are in New Mexico, the home state of bill negotiator Sen. Martin Heinrich, Daily on Energy alum Josh Siegel reported.
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Siegel → report → Energy
OIL PRICES SET FOR LARGEST DROP SINCE PANDEMIC:
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PRICES → SET → PANDEMIC
Oil prices were set for the largest weekly losses since the pandemic, as prices held mostly steady today.
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prices → set → pandemic
“A bit of unwinding of the war premium seems to be what’s going on,” Phil Flynn, senior analyst with Price Futures Group, told Reuters.
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Flynn → unwind → Reuters
Prices plunged after the Democrats’ huge victory in the election raised hopes for a resolution to the conflict with Iran.
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victory → plunge → Iran
But prices picked up later in the week on signs of ongoing conflict in the Strait of Hormuz.
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prices → pick → Hormuz
The number of U.S. oil and gas rigs rose by one this week and is up 56 on the year, Baker Hughes reported today.
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Hughes → rise → year
…and 35 more, not listed.
The Aporia
