Ford to charge up EV drive with flurry of battery deals
- doubts about Ford's ability to actually hit their EV production targets
- But do people even WANT to buy F-150?
- Ford says its electric vehicle unit is on track to lose $3 billion this year.
NATIONAL AVERAGE PRICE OF GASOLINE HITS PAUSE AS MEMORIAL DAY LOOMS
- gasoline price are not as high as people thought they were
- is this a silver lining on the inflation talk?
- Distillate stocks are 1% higher than this week last year
- "Implied gasoline demand, a proxy for retail gasoline consumption, fell 395,000bpd to 8.91 million barrels."
- Work from home, even just a few days a week, has permanently removed demand
- will we see depressed gasoline consumption over the summer driving season despite lower gasoline prices
Court rejects challenges to FERC approval of Alaska Gasline plan
- FERC approved the plan in 2020
- 800 mile natural gas pipeline to bring gas from North Slope, liquefy it and ship it to Asian customers
- The environmental groups objected, among other things, to FERC’s failure to calculate greenhouse gas emissions that would occur when customers burned the natural gas.
European Gas Prices Drop as Goldman Sees Fuel-Switching Floor
- "Mild weather and a steady flow of liquefied natural gas have contributed to the decline as Europe recovers from its energy crisis amid severely curtailed pipeline flows from Russia. Stockpiles on the continent are now almost 66% full, well above the seasonal average"
- But Goldman could be wrong. Hydropower is still down from last year's drought.
Chevron Doubles Down on Shale With $6.3 Billion Deal
https://www.wsj.com/articles/chevron-to-buy-pdc-energy-in-6-3-billion-stock-swap-d8835eee
- Chevron getting acreage in Colorado but perhaps it can more effectively navigate regulations than smaller PDC
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