WHAT’S HAPPENING TODAY: Good afternoon and happy Friday, Daily on Energy readers! The Winter Olympics officially opened today, though some events like curling and hockey were already underway. One thing Callie will be watching is Lindsey Vonn in the women’s downhill and Super-G just days after she ruptured her ACL ⛷️. Team USA is built different 💪.
Back in Washington, Energy Secretary Chris Wright held a presser underscoring the administration’s efforts to prevent blackouts in the recent winter storms by prioritizing fossil fuel energy sources while renouncing renewables ⚡🛢️.
In addition, the U.S. Geological Survey released its annual Mineral Commodity Summaries report, which found that the U.S. remained heavily reliant last year on critical minerals imports, with China among the leading suppliers 🪨🇨🇳. The report comes as the administration has recently taken action to shore up the domestic supply chains — including plans to launch a critical mineral stockpile and secure a trading bloc among allied nations.
Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson) and Maydeen Merino (@MaydeenMerino). Email cpatteson@washingtonexaminer dot com or mmerino@washingtonexaminer dot com for tips, suggestions, calendar items, and anything else. If a friend sent this to you and you’d like to sign up, click here. If signing up doesn’t work, shoot us an email, and we’ll add you to our list.
QUOTE OF THE WEEK: “The grid is the most important engine in America. If the grid doesn’t work, America doesn’t work,” Edison Electric Institute CEO and president Drew Maloney told Callie yesterday. “And it requires investment, and that’s why you’re going to see America’s electric companies invest over a trillion dollars over the next four years to make sure that grid is reliable and as affordable as possible every single day.”
You can watch Callie’s entire interview with Maloney here.
CHRIS WRIGHT BREAKS WITH UTILITIES ON ADDING ALL ELECTRONS: EEI, a major utility trade group, is just one organization that has called for an “all of the above” energy approach, adding electrons from all resources – including renewables – to the grid to meet growing demand.
Energy Secretary Chris Wright emphasized this morning that the administration will not be caving to those calls, instead prioritizing traditional fossil fuels like coal and natural gas.
“When I hear politicians say, ‘We just added more electrons on the grid,’ no, we don’t,” Wright told reporters during a press conference at the agency’s headquarters.
Wright slammed wind and solar power, which can be added to the grid relatively quickly, saying the renewable alternatives fail to add anything meaningful to the total capacity of the electricity grid.
“Giving me extra electricity when I don’t need it — it’s just an extra cost,” he said.
Plus: Earlier in the week, Daily on Energy highlighted that some utilities are now also pushing back on the agency’s decision to keep aging coal plants online, due to the costs associated with operations.
Wright criticized this pushback today, calling it “nonsense.”
Read more from Callie here.
USGS TAKES STOCK OF U.S. RELIANCE ON CHINA FOR CRITICAL MINERALS: The U.S. remains heavily reliant on critical mineral imports, with China being one of the leading suppliers, as the Trump administration tries to quickly expand the domestic supply chain.
The U.S. Geological Survey said in a newly released annual Mineral Commodity Summaries report that the U.S. was 100% net import reliant for 13 of the 58 mineral commodities listed by the Department of the Interior, excluding coal and uranium. An additional 20 critical mineral commodities had a net import reliance greater than 50% of apparent consumption.
USGS said that China and Canada were the two leading suppliers of these mineral commodities. It said that China was a major supplier of 14 of the 33 critical minerals for which the U.S. depends the most on imports.
In addition, countries like Germany, Japan, Mexico, and South Africa were also major suppliers of some minerals. The report also noted that the U.S. mineral production value rose by 5.6% to $112 billion in 2025.
The Trump administration has sought to expand the domestic supply of critical minerals to reduce U.S. reliance on Chinese imports, which has raised national security concerns.
Key quote: USGS Director Ned Mamula said, “Critical minerals have become central in U.S. Government policymaking and international relations. In 2025 the minerals industries contributed over $4 trillion to the U.S. economy, and clearly minerals will be the lifeblood of the 21st century global economy.”
DATA CENTERS TO DOMINATE US ENERGY DEMAND GROWTH: The International Energy Agency released its 2026 electricity report today, estimating that data centers used to support artificial intelligence operations and other large loads will make up nearly half of electricity demand growth seen in the U.S. through the end of the decade.
The IEA forecast that, between 2026 and 2030, U.S. electricity demand will rise on average by around 2% – more than double the rate seen between 2016 and 2025. Data centers’ electricity consumption will account for nearly half of this growth. Other major drivers will be increased semiconductor production and battery manufacturing.
To meet this demand, IEA projected, natural gas-fired energy generation will grow on average by 3% over the next four years, while renewable generation – including wind and solar – will increase by an average annual rate of 5.7% annually. Coal power is currently forecast to fall by 6% on average each year, though the IEA did say that is subject to change as the Trump administration attempts to keep aging facilities online.
STELLANTIS EV RETREAT SENDS STOCKS PLUNGING: Stellantis shares dropped today after the automaker announced it was taking more than $26 billion in charges to shift away from its electric vehicle strategy.
In a press release, the company said that the write-off is mainly due to a reduction in electric demand resulting from “re-aligning product plans with customer preferences and new emission regulations in the US.” The company also noted that the charge is related to its resizing of its EV supply chain.
Following the announcement, Stellantis shares dropped more than 28% this morning. The carmaker’s shift away from EVs is similar to that of many other car companies that have reversed course on EVs as the policy landscape has shifted thanks to Trump.
Read more by Maydeen here.
DANISH WIND DEVELOPER SAYS US PROJECTS ON TRACK: Ørsted attempted to instill confidence in its investors, saying today that its two projects in the U.S. that have been subject to major delays from the Trump administration are on track to be completed as previously scheduled, according to the Financial Times.
Ørsted is developing Revolution Wind off the coast of Rhode Island as well as Sunrise Wind off the coast of New York. Both projects were stalled in December, when the Interior Department paused leases for five under construction offshore wind farms, citing national security concerns.
All five projects have since been granted permission by federal courts to resume construction, though there were concerns that the delay would push back some of the projects’ operational start dates.
Ørsted revealed today that Revolution Wind should still be able to generate electricity in just a matter of weeks, while Sunrise Wind should be operational in the second half of 2027.
“We are fully back to work and construction on both projects is moving forward according to plan,” CEO Rasmus Errboe said, according to the Financial Times.
‘DRILL, BABY, DRILL’ UPDATE: Oil and gas drilling was on the up in the last week, as U.S. producers added five new rigs to the active drilling rig count, according to data compiled by Baker Hughes.
The total number of active rigs in the U.S. is now 551, having added three rigs on land and two onshore. Broken down further, the fossil fuel industry technically added five gas rigs and one oil rig, however, one miscellaneous rig was taken off, bringing the total added to five. This total number is still far fewer than the number of active rigs this time last year, which was 586.
Where prices stand: Oil prices rose today as U.S. and Iranian officials agreed to continue nuclear talks, signalling that investors are still anxious about geopolitical risks for the industry.
As of around 3 p.m. EST, international benchmark Brent crude was up by 0.59%, selling at $67.95 per barrel. West Texas Intermediate also jumped by 0.30%, and was priced at $63.48 per barrel.
ICYMI – EX-IM REAUTHORIZATION BILL: Democrat Sen. Mark Warner of Virginia and Republican Sen. Kevin Cramer of North Dakota introduced a bill earlier this week that would reauthorize the U.S. Export-Import Bank for the next decade.
The reauthorization bill comes as the Trump administration has announced a new strategic critical mineral stockpile, known as Project Vault.
Ex-Im earlier this week voted to launch the new stockpile program, which would include nearly $2 billion in private capital as well as a $10 billion loan from the bank. The program will be a public-private partnership that would store critical minerals and rare earths.
The Financial Times reported that Cramer would seek to lift the bank’s lending cap by $70 billion to $205 billion as part of the reauthorization package.
The bank helps domestic companies compete globally by offering support like loan guarantees and direct loans. Ex-Im has also helped provide financing solutions for the mining and energy sectors.
Warner told Maydeen in a statement that, “For decades, EXIM has provided financial solutions for critical energy mineral projects and other export businesses across Virginia and the country.”
“I am proud to have introduced a clean 10-year reauthorization of EXIM with Sen. Cramer and I hope that we can continue working together to find ways to give EXIM additional tools to support projects that ensure our national and economic security,” he said.
RUNDOWN
Bloomberg Why Some Republicans Voted for More Carbon Emissions Tracking
The New York Times Climate ‘Superfund’ Bills Spread Nationwide, Despite Legal Battles
The Associated Press The consumer-friendly Energy Star program survived Trump. What about other efficiency efforts?
