Analysts don’t expect ​‘drill, baby, drill’ to boost oil output

OIL & GAS: Analysts say U.S. oil and gas companies are focused on profits, not pumping more oil, and that Trump’s ​“drill, baby, drill” commitment is unlikely to increase domestic drilling or lower gas prices. (The Guardian)

ALSO:

• Energy Secretary Jennifer Granholm says a long-awaited federal study on liquified natural gas exports will be released this year, but how its findings shape future permitting decisions will be up to the next administration. (E&E News, subscription)
• A petroleum firm and a data center developer plan to install a natural gas-powered cryptocurrency facility at an oil and gas well on Alaska’s North Slope. (Northern Journal)

POLITICS:

• The Department of Energy’s Loan Programs Office is racing to close $25 billion in pending loans for clean energy projects across the country before President-elect Donald Trump can dismantle the program. (E&E News)
• Experts warn Texas could be among the most affected states if Donald Trump rolls back climate legislation because it’s home to the most renewable resources in the country, as well as a huge pipeline of pending clean energy projects. (Houston Chronicle)

ELECTRIC VEHICLES:

• Democrats’ election message about the Inflation Reduction Act spurring domestic investments did not resonate in Michigan as automakers scaled back EV plans and Republicans emphasized EV ​“mandates.” (Inside Climate News)
• The developer of the contested Rhyolite Ridge lithium mine in Nevada plans to move forward even if the incoming Trump administration kills federal electric vehicle incentives. (NPR)

GRID: Two companies move to assemble a 1 GW virtual power plant in Texas by linking hundreds of thousands of smart thermostats, with plans to eventually add in other customer-owned assets like solar panels, batteries, and electric vehicles. (Canary Media)

HYDROPOWER: Federal officials say a wave-power testing facility along Oregon’s coast could be a ​“game changer for marine energy,” especially for remote communities with high electricity costs. (Washington Post)

WIND: President-elect Trump’s ambitions to shut down the offshore wind industry would push New York’s climate goals further out of reach, but it remains unclear whether his administration will be able to pull it off. (New York Focus)

SOLAR:

• Great Plains tribes are eager to capitalize on the growing clean energy economy and are creating solar training programs that reimagine the job site and a utility system rooted in community ownership. (Buffalo’s Fire)
• A park district in metro Chicago installs solar panels with a battery on the roof of a mobile equipment trailer so landscaping workers have easy access to power their electric lawn tools. (Yale Climate Connections)

UTILITIES: A former Florida lawmaker is sentenced for his role in a 2020 ​“ghost candidate” scheme to siphon votes from a Democratic incumbent in a scandal that’s spotlighted how Florida Power & Light maneuvered to secure a Republican supermajority to push through favorable legislation. (Floodlight)

TRANSPORTATION: New York City’s Metropolitan Transportation Authority approves a revamped congestion pricing plan, which still needs federal approval and faces challenges from New Jersey officials. (Bloomberg)

COMMENTARY: A self-described ​“cynical optimist” writes that Wall Street’s love for the Inflation Reduction Act will make it difficult for Trump and his allies to repeal. (Heatmap)