Energy
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Vessels begin exiting Strait of Hormuz following interim peace deal between U.S. and Iran
The three Saudi vessels carried about six million barrels of Saudi oil, A supertanker carrying oil from the United Arab Emirates, a ship carrying Qatari liquefied natural gas, and a Chinese fuel tanker were also among the traffic moving through the Strait of Hormuz.
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Downed Apache helicopter aided ship oil transfers, same tactic Iran used to skirt sanctions: report
The shuttling operations are carried out at the edge of the strait and involve secretly transferring oil to awaiting tankers. Convoys are guided to the tankers using helicopters and drones.
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Iran peace deal comes just before supply crunch threatens oil markets
Oil executives have been warning for the past couple of weeks that inventories are reaching severely low levels. If the peace deal is signed and the Strait of Hormuz opened, it could take months before inventories are replenished.
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Reports: 2023 was a record year for natural gas consumption
Texas produced the equivalent of one-third of the natural gas consumed last year, with Texas producers breaking multiple records last year.
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Researchers: California must spend up to $20B on grid upgrades if it wants EVs
They say the cost of upgrading transmission lines for EVs could cost $6 to $20 billion, or about 10% to 40% of the current transmission system.
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House passes bill overturning DOI rule blocking oil and gas on 13 million acres in Alaska
The Alaska’s Right to Produce Act of 2023, which was sponsored by Rep. Pete Stauber, R-Minn., passed 214-199.
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Democrats re-launch ‘Exxon Knew’ campaign to allege Big Oil deceived public about climate change
Critics of this campaign argue that the Democrats behind the investigation are trying to vilify oil companies by misleading the public into thinking that the companies possessed some special knowledge that wasn’t publicly available about the impact of emissions on climate.
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California gas $1.73 above U.S. average, taxes rising to $1.64 per gallon
According to AAA, as of May 1, regular gas in California sells for an average of $5.39 per gallon, while the national average is $3.66 per gallon.
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Washington lawmaker tours Cowlitz County landfill methane gas capture project
The project will turn methane from the breakdown of organic waste at the landfill into renewable fuel.
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Legislation to ban new natural gas hookups in Illinois introduced in Springfield
The first natural gas ban in the country was in California, but it was preempted by federal law, setting the stage for more legal fights around the country.
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Compromise legislation in Colorado appeases energy industry, environmentalists
The agreement with oil and gas industry to proposes less-stringent legislation in exchange for a withdrawal of ballot measures by the industry and environmental groups.
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Feds power Pennsylvania solar with $156M
The Pennsylvania Energy Development Authority will spend the money on residential solar, energy storage projects and home upgrades for poor households across Pennsylvania.
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Michigan Democrats drop $25M EV subsidy
Gov. Whitmer proposed a $25 million for the MI Vehicle Rebate, offering up to $2,500 subsidy for a union-made EV.