DAILY ON ENERGY: • Freeport explosion fallout • Another play with the DPA • Latest environmentalist split with administration
FREEPORT EXPLOSION FALLOUT: The explosion and resulting outage at Freeport LNG’s Gulf Coast terminal puts a major damper on the Biden administration’s campaign to get more natural gas to Europe, where supplies are even tighter now that Russia’s Gazprom is reducing flows to Germany and Italy.
Biden and European Commission President Ursula von der Leyen formed their joining U.S.-EU Task Force for Energy Security on March 25, with a focus on negotiating more LNG volumes for the EU from the world’s top suppliers, including the U.S. LNG feedgas had been expected to average around 13 billion cubic feet per day this month and 13.2 bcf per day in July but are now forecasted to average 11.3 bcf per day, AGA said in its most recent market report.
ANOTHER PLAY WITH THE DPA: Press Secretary Karine Jean-Pierre clarified yesterday that the “emergency authorities” which Biden told refiners he may invoke to increase refinery output include those under the Defense Production Act. OIL GROUPS PUSH BACK ON BIDEN LETTERS TO REFINERS: Executives from the American Petroleum Institute and the American Fuel and Petrochemical Manufacturers pushed back on Biden’s claims that U.S. refiners are not doing their part to ramp up production and help lower energy costs.
This response comes just hours after Biden called on seven large integrated refinery operators, including ExxonMobil, BP, and Shell, to ramp up production of oil and diesel fuel. Read more from Breanne here. Brett Hartl, government affairs director at the Center for Biological Diversity, said separately the approvals will result in increased greenhouse gas emissions and bring"polar bears and many other species one step closer to extinction.”
According to Kelley Blue Book, the average cost of an electric vehicle is $56,437, roughly $10,000 more than the industry average—and not much less than the median household income of $67,521. The report is NHTSA’s first effort to broadly measure crashes involving vehicles with partially automated driver-assist or autopilot systems—seeking to identify any emerging risks and assess their operation in the real world.
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