Week Beginning November 28, 2022More than 400 groups are calling on Congress to intervene in an ongoing railroad labor standoff, which could lead to a strike. If a strike happens, as much as 30% of the United States’ cargo shipments by weight would be stuck in railyards. Petroleum For the second week in a row, heating oil prices have gone down. This week, heating oil is averaging $5.454 per gallon on the East Coast,…

Week Beginning November 21, 2022Western and Northern New York are digging out from historic snow totals over the weekend—some places hitting more than 70 inches. Many schools and government offices are closed Monday as the area continues to dig out. The largest railroad labor union has voted to reject a labor deal, meaning a strike is looming. If railroad workers strike, shipments will be delayed across the country. Those shipments could include fuel, holiday packages,…

Week Beginning November 14, 2022Hurricane Nicole became the first hurricane to make US landfall during November in 37 years. It also marked the latest date a hurricane has hit Florida’s East Coast. The storm made landfall as a Category 1 storm last Thursday, November 10, bringing gusty winds and soaking rain to the eastern US. Petroleum The strong demand for diesel has led to higher prices and tighter inventories as we begin the winter heating…

Week Beginning November 7, 2022Powerball fever is taking over the country. Monday night’s drawing is expected to be $1.9 BILLION, the largest in lotto history. If you win and choose the lump sum, you’ll bring home $929 million. Petroleum Heating oil prices are up $0.137 per gallon from last week to $5.863 per gallon on the East Coast. Gasoline has gone up slightly from last week. The average price per gallon on the East Coast is $3.522,…

Week Beginning October 31, 2022Today is Halloween, which has its origins in a Celtic festival called Samhain, where people would ward off ghosts while wearing costumes around a bonfire. The festival also marked the end of the summer and harvest season, and the beginning of winter. Petroleum Heating oil prices are averaging $5.704 per gallon nationally, down $0.018 per gallon last week. Prices are up $2.307 per gallon from last year at this…

In the wake of increasing inflation and as a means of codifying several of the Biden administration’s legislative priorities, the Senate passed the $750 billion Inflation Reduction Act on August 7, 2022 (the “Act”), by a 51-50 party-line vote. The Act, which is comprised of sweeping healthcare, energy, and tax measures, was approved by the House of Representatives on August 12, 2022, and signed into law by President Biden on…

On August 16, 2022, President Joseph Biden signed into law the Inflation Reduction Act of 2022 in what many have called the largest investment in climate change countermeasures in U.S. history. The Inflation Reduction Act of 2022 is probably the most consequential climate change legislation ever enacted by the U.S. government—it certainly will be the most expensive—and accordingly, it will have a major impact on the renewable energy industry, mostly…

Week Beginning August 1, 2022Europe is facing a potential natural gas crisis this winter, due to the sanctions placed on Russia. Last week, Gazprom slashed natural gas deliveries through its pipeline to just 20% capacity, citing maintenance work. Looking for new ways to conserve energy, one city in Germany banned hot water in public buildings, like government facilities, gyms, and swimming pools. The city of Hanover will also reduce heating in public buildings, disconnect public fountains,…

Focus State considers more aggressive goals for offshore wind development  Eureka Times-Standard – July 2 Last Monday, the California Energy Commission held a workshop regarding potentially advancing higher offshore wind energy goals after setting preliminary targets of 3 GW of development by 2030 and between 10 and 15 GW by 2045. Some at the meeting suggested the goal should be raised to 5 GW by the end of this decade,…

While fuel prices skyrocket and energy supply and security concerns continue, interest in nuclear power is gaining momentum around the world. The International Energy Agency (“IEA”) released a June 2022 report entitled “Nuclear Power and Secure Energy Transitions” acknowledging the unique opportunity for nuclear in the context of today’s energy crisis and ambitious decarbonization goals. The report notes that both the challenge of net zero and the impacts of Russia’s invasion of…