Joe Petrowski, former CEO of Cumberland Farms Gulf Oil Group, argues that West Texas Intermediate crude futures will trade over $150 a barrel by the end of the summer and the national average for gas will be over $6.
"It's going to make what’s happening in liquid fuels look like a speed bump in the shopping parking lot compared to what will happen in electricity," Petrowski further cautioned on the issue. "We’re shutting down coal plants, which I’m for," he continued. "We’re decommissioning nuclear because people just don’t want nuclear in their backyard, even though the French get 85 to 90% and natural gas is now $7, going to 10. So we are going to have a huge spike in electric prices."
Late last summer we lost power for some hours or so because 5 people plugged in their Tesla's at the same time. The future looks amazing for candle makers.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alaska Senate votes for energy payment on top of dividendThe energy relief payment passed as an amendment to the state budget package that senators are debating. The budget bill as it came to the floor included a dividend of about $2,500 this year.
Source: AKNewsNow - 🏆 460. / 53 Read more »
Alaska Senate votes for $1,300 energy payment on top of PFD - Alaska Public MediaThe Alaska Senate voted today for a $1,300 “energy relief” payment in addition to a dividend payment for residents this year. WHEN CAN I SPEND MY HARD EARNED ENERGY RELIEF CHECK
Source: AKpublicnews - 🏆 387. / 55 Read more »
Global energy agency ‘embarrassed’ by Biden’s oil reserves tap: reportThe International Energy Agency was caught out by the Biden administration’s plan to release 180 million barrels of oil from reserves over six months. Biden can’t tap shit
Source: nypost - 🏆 91. / 67 Read more »
EU plans one-year renewable energy permits for faster green shiftThe European Union executive wants to speed up the bloc's green transition and cut its reliance on Russian fuels by allowing some renewable energy projects to receive permits within a year, a draft document shows. In. Plain. Sight.
Source: ReutersScience - 🏆 559. / 51 Read more »
How the War in Ukraine Could Slow Texas’ Energy Transition'There’s no shortage of investment capital and willingness to develop more renewables. The hurdle now is just moving that power.' From _e_delger
Source: TexasObserver - 🏆 242. / 63 Read more »
This Arctic town wants to make renewable energy work at the top of the worldPartnering with a northern settlement in Greenland, researchers are designing wind and solar devices that can survive and thrive in extreme conditions.
Source: Nature - 🏆 64. / 68 Read more »