Sorry, folks: Expensive gas is here to stay. And one of the reasons is climate change.
"Future presidents and administrations are going to be absolutely bedeviled by high gasoline prices."
The result is a domestic gasoline supply on a hair trigger, making the nation more vulnerable to fuel panics that would resemble last year’s, while feeding inflation and angering voters. Since early 2020, the United States’ fuel-producing capacity has fallen by nearly 1 million barrels per day, or about 5 percent.
A much-forecasted drop in demand for oil-derived transportation fuels has yet to arrive, even as the capacity for the United States to produce such fuel is falling away, McNally said in an interview. Many refining companies, burdened with heavy debt, became extremely unprofitable as the pandemic sapped fuel demand for more than a year. Climate change increased both the physical hazards their plants faced and their insurance costs. Meanwhile, investors were more willing to open their wallets for alternative energy projects than upkeep on decades-old fossil fuel refineries.
Energy Secretary Jennifer Granholm broached the issue with heads of refining companies at a meeting in June, a senior department official said in an interview.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Why diesel is more expensive than regular gasDiesel is crucial to international transportation and its price has a major impact on the US economy. There are three primary reasons for its higher price tag than regular gasoline.
Consulte Mais informação »
Why Demi Moore’s Long Hair Is a Form of Protest at 59: “Why Shouldn't We?”The actress is breaking the “rule” that older women should have short styles.
Consulte Mais informação »
These former Trump advisers are trying to do the impossible: Make Trumpism about the futureTrump returns to Washington, D.C., on Tuesday to deliver the keynote address for AFPI’s America First Agenda Summit. His allies are eager for him to use the occasion to press pause of his grievances about 2020 and begin to lay out a game plan for 2024.
Consulte Mais informação »
Trump v. DeSantis: Young conservatives debate GOP's futureFormer President Donald Trump received a rock star’s welcome at a gathering of young conservative activists in Florida this weekend as he continued to tease another presidential run.
Consulte Mais informação »
Bill Murray’s NFT Drop On Coinbase Provides A Blueprint For Future Celebrity LaunchesBill Murray successful launched an NFT drop on Coinbase's beleaguered NFT marketplace. It could be prove to be a blueprint for others to follow.
Consulte Mais informação »
Black Adam Hawkman Actor Teases Character's Potential DCEU Future PlansAldis Hodge touched on Hawkman's DCEU future after BlackAdam in a new interview. 'His backstory, his curse, his history with Hawkgirl. There's so much there to fill out a standalone film — a few standalone films!'
Consulte Mais informação »