America’s southeast is seeing the worst of the growing energy crisis after a devastating hack of a major American pipeline, with well over 1,000 gas stations running out of fuel altogether, the New York Post reports.
Following the hack of the Colonial Pipeline, a critical system that serves 17 states, the situation was made even worse by a spike in panic-buying of fuel, which led to even more gas stations running out than caused by the initial hack. North Carolina felt the worst of the shortage, with approximately 8.5 percent of its roughly 5,400 gas stations running empty. Virginia was not too far behind, after around 7.7 percent of its 3,900 stations also ran dry. Read More
A gas shortage is expected this summer not because there won’t be enough fuel but because there aren’t enough highly trained and licensed tanker drivers to transport it.
Many tanker drivers retired last year after demand for oil and gas plummeted because fewer people were traveling during the height of the pandemic. And most driving schools where new drivers could have received their training were closed due to state-mandated shutdowns. The two factors combined is resulting in a shortage of roughly 25% of tanker truck drivers needed to transport fuel, says the National Tank Truck Carriers, the trade association representing the tanker truck industry. Read More
Reuters Oil producer group OPEC on Monday scrapped its planned meeting in April and will decide instead whether to extend output cuts in June, once the market has assessed the impact of U.S. sanctions on Iran and the crisis in Venezuela. A ministerial panel of OPEC and its allies… Read More
by Michael Bastasch French President Emmanuel Macron decided to scrap the planned carbon tax on fuels after weeks of protests rocked Paris and other major cities across the country. An Élysée Palace official told The Associated Press Wednesday that “the president decided to get rid of the tax.” Macron’s decision comes one… Read More
President Donald Trump will allow year-round sales of renewable fuel with blends of 15 percent ethanol as part of an emerging deal to make changes to the federal ethanol mandate. Republican senators and the White House announced the deal Tuesday after a closed-door meeting, the latest in a series of… Read More
A record spike in fuel prices following the summer’s back-to-back hurricanes drove up a closely watched US inflation measure in September, but the underlying trend remained weak, government figures showed Monday. The new figures come as the Federal Reserve prepares to begin a two-day meeting on Tuesday, with policymakers widely… Read More
President Donald Trump lifted US shipping restrictions on storm-battered Puerto Rico for 10 days Thursday, temporarily removing a legal obstacle blamed for slowing the disaster relief response to Hurricane Maria, the White House said. A 1920 law that restricts shipments between American ports to US-owned and operated cargo ships has… Read More