DAILY ON ENERGY: • Refineries getting a closer look • Democrats voice strong support for solar probe • Former EPA head Scott Pruitt had security detail speed through oncoming traffic: Report
REFINERIES GETTING A CLOSER LOOK: The White House, seeking to lower record fuel prices, has turned its eye to the nation’s refining capacity shortage, something oil industry players have been offering as an alternative for explaining current price hikes against Democrats’ gouging allegations.
The globe has lost around 3 million barrels per day worth of refining capacity in the last few years. Nearly a third of that capacity, 1.1 million barrels worth, was shed in the U.S. due to a mix of factors, including the pandemic’s destruction of fuel demand . All of this makes it more difficult for refinery operators. If prices were to fall and stabilize, the source said, the green policies and ESG investment pressures favoring shifting away from fossil fuels could easily bring about a walking back of initiatives to reopen or invest in more refinery capacity.
“These laws are designed to ensure that American manufacturers and producers can compete on a level playing field, free from unfair trade practices,” the group wrote, led by Sens. Sherrod Brown of Ohio and Bob Casey of Pennsylvania. “Security agents found Pruitt ‘hard to disobey’ despite the fact lights and sirens are typically only used in emergency situations,” the Examiner’s Kaelan Deese notes. “Pruitt would often say ‘we need to get there quicker,’ even saying, ‘Can you guys use that magic button to get us through traffic?’”
The customer, Nicholas Schmidt, also owns a Tesla Model 3—a purchase he told Bloomberg made his family of farmers “real apprehensive.” “So when there were pickup trucks coming out that were going to be EVs, I said, ‘whichever one comes first, I’ll buy it.” The full electrification of the F-150 also marks a major victory for Ford, which, in a good year, sells roughly 900,000 F-Series trucks.
SUPREME COURT REINSTATES BIDEN ADMIN’S CLIMATE COST-MEASURING METRIC: The Supreme Court said yesterday it will allow the Biden administration to use a higher estimate when calculating damages caused by greenhouse gas emissions, delivering a blow in the immediate term to Republican attorneys general who had sought to have the approach dismissed.
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