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.

GAS INCHING CLOSER TO $4/GALLON: The national average price of gasoline is getting closer and closer to $4 per gallon across the country, as drivers continue to feel the strain of the war in Iran. 

As of Monday, AAA was reporting that the national average price of gasoline was $3.718 per gallon, up nearly $0.30 from this time last week and nearly a dollar from one month ago. Pressure at the pump is only expected to grow due to additional factors, including higher seasonal demand and the transition to summer fuels. 

“Until we see a meaningful resumption of oil flows through the Strait of Hormuz, upward pressure on fuel prices is likely to persist,” GasBuddy analyst Patrick De Haan said today.

The lowest prices (averaging $3.10 per gallon) can be found in Plains States such as Kansas, North Dakota, and Oklahoma, while the highest prices at the pumps (averaging $5.28 per gallon) are in California, Washington, and Hawaii. 

EMERGENCY OIL STOCKS FLOWING INTO THE MARKET, IEA SAYS: International Energy Agency head Fatih Birol affirmed earlier today that the organization’s joint release of emergency oil reserves has begun, with millions of barrels of oil pumping into Asian markets to offset high costs. 

Quick reminder: Last week, IEA members agreed to release a record 400 million barrels from stockpiles. The United States alone plans to release 172 million barrels from the Strategic Petroleum Reserve. 

What’s new: While the IEA has not released any information regarding the flow of these oil stocks – meaning how many barrels will be released daily – Birol confirmed the barrels are currently being released. 

“We are coordinating closely with all our member countries to ensure that oil stocks they have agreed to release reach the market in a timely manner,” Birol said, adding that the release will not significantly dent existing reserves. 

He said the total release will reduce emergency stocks in IEA countries by only 20%, meaning they can continue to release barrels if needed. 

“The IEA was founded over 50 years ago with the core mission of upholding energy security,” Birol said. “It is what we are doing today for oil markets and what we will continue to do across the entire global energy sector.”

Where oil stands: Birol insisted today that the joint release has had a “calming impact” on oil markets, with prices “significantly lower” than they were a week ago. Just before 2:30 p.m. EDT, international and domestic benchmarks remained fairly elevated, sticking around the $100 per barrel line. 

West Texas Intermediate had fallen by 5.37% compared to Friday, and was selling at $93.41 per barrel. Similarly, Brent crude was down 3.03%, and priced at $100.01 per barrel. 

LATEST ON IRAN: Treasury Secretary Scott Bessent told CNBC this morning that the U.S. is allowing Iranian oil tankers to transit the Strait of Hormuz as an effort to stabilize global supply. 

“We are seeing ​more and more of the fuel ships start ⁠to go through. The Iranian ships have ​been getting out already, and we’ve let that ​happen to supply the rest of the world,” Bessent said. “We’ve seen Indian ships go out now … we believe some ​Chinese ships have gone out.”

Many ships remain at a standstill in the strait, but Samir Madani, co-founder of TankerTrackers.com, told CNBC last week that, since the war started on Feb. 28, Iran has sent 11.7 million barrels of crude oil through the trading route to China. 

The administration has proposed and taken actions to mitigate the rise in the price of oil caused by the stalemate in the strait. For instance, the president has proposed a plan to provide insurance for ships in the strait as well as escorts by the U.S. Navy. 

Bessent said that he believes that tankers will be able to move through the strait before any escorts are needed. 

The administration has also taken action to address global supply of oil by lifting Russian sanctions last week, providing a 30-day waiver to allow countries to buy the sanctioned crude. 

Coalition: Trump said yesterday that he has also called on other countries to provide warships to keep the trading route open and police the waterways. 

“I’m demanding that these countries come in and protect their own territory, because it is their own territory,” Trump said aboard Air Force One yesterday. “It would be nice to have other countries police that with us, and we’ll help. We’ll work with them.”

The Wall Street Journal reported today that the administration could announce as soon as this week a group of countries that will escort ships through the waterway. 

Kharg Island: The administration has also moved forward with a plan to hit military targets on Kharg Island, which is where Iran handles most of its oil exports. The attack on Friday took out military and missile facilities, according to U.S. military officials. The administration did not take aim at the oil infrastructure on the island. 

Trump told PBS the island is “out of commission except for the pipes, which I left.”

“I didn’t want to hit the pipes because, you know, years of work to put them together,” he added. “It’s dead militarily now, totally. Every military area … they’ve fled.”

The president, however, has noted that he could target the island again. 

INTERIOR PROPOSES EASING ENDANGERED SPECIES PROTECTIONS IN GULF: The Center for Biological Diversity and Earthjustice are slamming the Trump administration for considering side-stepping the Endangered Species Act in order to expand offshore oil and gas drilling in the Gulf of Mexico, which has been renamed the Gulf of America. 

If you missed it: Late Friday, Interior Secretary Doug Burgum announced he would be convening the Endangered Species Committee later this month to consider exempting species in the Gulf as it relates to oil and gas exploration, development, and production activities in the region.

The committee, also known as the “God Squad,” is scheduled to meet on March 31. The meeting will be livestreamed on YouTube. 

The criticism: Environmentalists and conservationists are fearful that the meeting could result in the government significantly reducing protections for at-risk species, including sea turtles and Rice’s whales, to allow oil and gas firms to ramp up production in the Gulf. 

“The Trump administration is attempting an illegal end-run around the Endangered Species Act to benefit the fossil fuel industry at the expense of Rice’s whales and other wildlife,” Brett Hartl, government affairs director at the Center for Biological Diversity, said Monday. 

The green group had warned that lifting the endangered species protections could push these species into extinction, particularly as it estimates only 51 Rice’s whales to be living in the Gulf. 

Meanwhile, non-profit environmental law firm Earthjustice said the law only allows exemptions if there is no way an activity would lead to the extinction of one or more species. 

“None of those circumstances are present in the Gulf,” the group said. 

Read more from Callie here. 

MARCH STORM: A powerful storm is sweeping across the southern and eastern parts of the country today, bringing strong winds and tornado warnings. 

The March storm began yesterday with more than 450 reports of severe weather, according to The Weather Channel. It added that there were two reports of tornadoes in Arkansas and a brief tornado in Illinois. There were also reports of large hail that hit Texas. 

The storm today is expected to bring severe thunderstorms with winds over 75 mph. There are several tornado watches issued in parts of Florida, Georgia, South Carolina, Pennsylvania, Maryland, and Washington, D.C. 

AccuWeather Senior Meteorologist Adam Douty said, “This massive storm is unleashing winter and springtime hazards at the same time. More than 200 million people could be impacted, from blizzard conditions in the Midwest to severe thunderstorms across the East, along with powerful winds sweeping across dozens of states.” 

AccuWeather said there is a high risk for severe thunderstorms from southern Pennsylvania to central South Carolina, starting today into the evening. It added that heavy rainfall of 1–2 inches is forecast across parts of the mid-Atlantic, Northeast, and New England, with 2–4 inches possible in portions of Maine, Connecticut, and Rhode Island. 

CUBA SUFFERS BLACKOUT: Cubans are facing a nationwide blackout today as the Trump administration continues to block oil from entering the island. 

Cuba’s Ministry of Energy and Mines on X said there is a “complete disconnection” of the island’s electrical system, which is being investigated.

Cuba’s energy crisis has become more dire in recent weeks as the administration has halted Venezuelan oil from going to the island and threatened tariffs on any countries that send crude to the island. Cuba recently faced a massive outage over a week ago, which left the western part of the island without power. 

The U.S. and Cuba are undergoing talks. The president has noted that he wants a deal with Cuba, but wants to address Iran before. 

“Cuba also wants to make a deal, and I think we will pretty soon either make a deal or do whatever we ​have to do,” Trump told reporters yesterday on Air Force One. “We’re talking ​to Cuba, but we’re going to do Iran before Cuba.”

ICYMI – OFFSHORE WIND PROJECTS PREVAIL: Two offshore wind projects targeted by the Trump administration have hit major milestones in the last week by starting to pump power to the grid or completing construction. 

Revolution Wind: Late Friday, Revolution Wind announced that it had begun delivering power to New England. The project off the coast of Rhode Island plans to scale up the amount of energy sent to the grid in the coming weeks, as it will ultimately produce roughly 704 megawatts of electricity, enough to power over 350,000 homes and businesses.  

Vineyard Wind: The same day, workers with the Massachusetts-based Vineyard Wind confirmed to local newspaper the New Bedford Light that the offshore wind farm installed its last wind turbine. Before the entire project can be deemed operational, the turbines will need to be commissioned and tested. 

If you forgot: Both of these projects were among the five under-construction offshore wind farms that the Trump administration has tried to stall. Last December, the Interior Department issued a sweeping stop-work order for the five projects over alleged national security risks. The projects were allowed to resume construction by federal judges earlier this year. 

A LOOK AHEAD: 

March 15 – 18 The Solar and Wind Finance and Investment Summit is taking place in Phoenix, Arizona. 

March 16 – 20 The Congressional City Conference is taking place in Washington, D.C.

March 16 – 20 CEATI’s 2026 Hydropower conference is being held in San Diego, California. 

March 17 is St. Patrick’s Day! 🍀🌈

March 17 The U.S. Chamber of Commerce is holding a full-day event on the future of transportation and infrastructure. 

March 17 The Atlantic Council will hold a discussion on transmission infrastructure and building out the electric grid. 

March 17 The House Energy and Commerce Committee subcommittee on energy is holding a hearing analyzing Winter Storm Fern and the grid’s response to meeting peak demand. 

March 17 The House Natural Resources Committee subcommittee on oversight and investigations is holding an oversight hearing titled, “Unleashing America’s Mineral Potential: The Critical Mineral Commodity Supply Chain.” 

March 18 The Center for Strategic and International Studies is holding a panel and presentation titled, “Energy Dominance and the Defense Industrial Base.”  

March 19 FERC is holding its March monthly meeting. 

March 19 The White House Environmental Task Force and America the Beautiful Foundation are holding an event at the Kennedy Center. 

March 19 The Senate Energy and Natural Resources Committee is holding a hearing to examine the Energy Department’s implementation of the May 2025 nuclear energy executive orders. 

March 19 – 20 The 2026 Climate Leadership Conference: Carbon Disclosure and Decarbonization Forum will be held in Pasadena, California. 

March 22 is World Water Day.

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