DAILY ON ENERGY: • Gas price divergence between US and Europe • Climate activists plan to disrupt Congressional Baseball Game • Great Salt Lake in Utah drops to lowest point on record
GAS PRICE DIVERGENCE BETWEEN US AND EUROPE: The weeks since the explosion at Freeport LNG’s Gulf Coast terminal have seen a further divergence between U.S. and European gas prices, illustrating that what has been good for prices at home is making things tougher for EU customers.
The Freeport explosion has reduced the demand of gas for liquefaction by 2 billion cubic feet per day. Freeport accounts for some 17% of U.S. LNG capacity. An export ban in particular would send U.S. prices falling but cause them to “skyrocket” internationally, Nalley said. Monthly natural gas production levels have been at or near records in recent months, and Reidl said $9 gas was not a result of a shortage of supply.
There’s already some appetite among Democrats in Congress for an export ban for both petroleum and gas exports, although an LNG export ban would compete directly with the administration’s initiative to get Europe more shipments. “We refuse to watch a member of Congress play baseball while the world burns,” Jamie DeMarco, a federal policy director for Chesapeake Climate Action Network, told the Post.
Rivian, which faces stiff competition from other, more established rivals, is trying to overcome parts shortages and other production hurdles. Rivian CEO RJ Scaringe has pointed specifically to the global shortage of semiconductors as a major driving factor behind the delays, which prompted the company in March to slash its yearly production forecast by half.
The poll was conducted by conservative climate group C3 Action, and surveyed voters in Arizona, Georgia, and Michigan. Among their findings: Another biggie: Republican voters also said it is more important for a candidate “to have plans to reduce gas prices, promote energy independence and defend America from foreign threats” than to have Trump’s endorsement.
Water elevation at the Great Salt Lake lake fell to 4,190 feet on Sunday, according to the U.S. Geological Survey data, marking the lowest-ever recorded point since scientists first began taking measurements in the mid-1800s.
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