DAILY ON ENERGY: • Biden vs retailers • Shell plans to build Europe's largest green hydrogen plant • Judge vacates Trump changes to Endangered Species Act
BIDEN VERSUS RETAILERS: President Joe Biden has been going head-to-head with energy executives over high energy prices and is now directing his ire toward “companies running gas stations” for not reducing fuel prices more.
Charting high prices: Jean-Pierre insisted yesterday retailers and others in the fuel supply chain need to keep pace with falling oil prices, saying that crude has fallen 15% but retail gasoline prices have fallen 3%. The White House didn’t respond to questions about its calculations. “The lag time causes some stations, maybe as many as half of them, to lose money because they're sitting on fuel that they may have just bought but they can't raise prices because the majority of stations haven’t,” he told Jeremy.
The high-price environment is causing further consolidation among retailers because it’s so difficult for small businesses to compete with larger competitors, including grocery chains that sell fuel, Underwood said. Welcome to Daily on Energy, written by Washington Examiner Energy and Environment Writers Jeremy Beaman and Breanne Deppisch . Email [email protected] or [email protected] 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.
Shortly after the Wednesday vote, Luxembourgish Energy Minister Claude Turmes said on Twitter that the Luxembourgish government and Austria will follow through with an earlier threat to “press legal charges,” adding that he “deeply regret[s]” the ruling. Reminder: The same debate had started to play out in the U.S. late last year with Democrats’ push for a clean electricity standard, but it was cut short when Sen. Joe Manchin nixed the idea of any such a program. The push had exposed a fundamental difference in strategy between Democrats and environmentalists as lawmakers considered whether to rely solely on renewable energy or support other zero- and low-carbon resources, including nuclear and carbon capture.
"Renewable hydrogen will play a pivotal role in the energy system of the future and this project is an important step in helping hydrogen fulfill that potential," Anna Mascolo, the executive vice president of Shell's emerging energy solutions, told Reuters of the effort. Those rules also allowed economic factors to be considered in whether species were listed as threatened or endangered.
OPEC SECRETARY GENERAL DIES: The secretary general of OPEC, Mohammad Barkindo, has died, Nigerian authorities said today, just weeks before he was slated to step down as head of the oil cartel at the end of the month. Barkindo, 63, held the OPEC post for six years since 2016, and was described in a statement from the oil cartel as a “much-loved” leader.
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