CBS News reported that an analyst for JP Morgan Chase has predicted gas prices over $6 per gallon across the nation by mid-summer as the travel season reaches its peak, possibly leading to the lowest gasoline inventory levels since 2008.
As gas prices continue to stay high, consumers and companies alike are looking toward renewable energy sources for relief. The Hill reported that the American Clean Power Association released a report on Tuesday that stated, “Looking into 2022 and beyond, inflation, supply chain issues, and the uncertainty of tax policy and lack of predictable regulatory action for renewable energy are all expected to have a concerning impact on our ability to deliver growth.”
Meanwhile, in what Forbes is calling “Rural Electrification 2.0,” the entire initial production run of 150,000 Ford F150 Lightning trucks (cousin to the best-selling vehicle in the U.S. for the past 40 years: the Ford F150) sold out before production finished.
Want more energy news? Check out our top 5 favorite stories in energy below!
8Entergy Shuts Down Michigan Nuclear Power Plant After 50 Years as Biden Administration’s $6B Plan to Save Nuclear Plants Falls Short
Entergy announced the permanent closure of an 800-megawatt nuclear plant in Michigan, despite the Biden Administration’s $6 billion plan to save struggling nuclear power plants in a bid to make nuclear plants more competitive with other alternative energy like natural gas or renewable sources. Entergy planned to shut down the facility by May 31, but decided to pull the plug earlier: “After careful monitoring, operators made the conservative decision to shut down the plant early due to the performance of a control rod drive seal,” Entergy in a statement about the plant, as reported by Reuters.
6NM Governor Says Increasing Renewable Energy Production is Simple: “Don’t pit renewables and fossil fuels against each other.”
Democratic Governor Michelle Lujan Grisham has presided over the state of New Mexico as it became the second-largest oil producing state in the U.S.–while tripling its clean energy output since 2019. In a recent Politico article, she says the key to their successful strategy is pursuing clean energy without maligning fossil fuels, which contribute to the state’s budget significantly. Other lawmakers, including New Mexico state Representative Angelica Rubio, whose district includes an oil patch in the Permian Basin, are on board. “Environmentalists can be out of touch that a typical person here in New Mexico is trying to put food on their table and thinking about how to pay their bills,” said Rubio. “When they hear a [call for an oil] ban, that means an end of the job. My effort as a legislator has been to find what the middle ground is.”
4Biden’s Nominee for EPA Air Position Gets Endorsement from Miners Group
Joe Goffman, Biden’s nominee for the EPA’s assistant administrator for air and radiation, gained an endorsement that could end up being the key to his confirmation: the United Mine Workers of America. “We believe Mr. Goffman is well qualified to serve as AA for OAR, as demonstrated by his previous work for EPA in the Clinton and Obama Administrations, as well as his private sector and academic experience at Harvard’s Kennedy School,” said the UMWA letter obtained by E&E News and signed by Cecil Roberts, the union’s president.
2Rolling Blackouts to Come for Illinois, Missouri & More All Summer
The regional electricity grid operator known as MISO announced a 5-gigawatt energy shortage that will affect 10 states, including Missouri and Illinois, and may cause rolling blackouts throughout the summer. Not only are blackouts likely, but prices are also on the rise as a result. “So everybody does not lose power, the group known as MISO may cause some conservation of the use of electricity and the last-ditch effort of that would be forcing outages in specific areas for small periods of time,” said Shane Hermetz, the General Manager at Egyptian Electric Cooperative as reported by WSIL-TV News out of Harrisburg, Illinois.