Best in Energy – 8 June 2022

U.S. president invokes defense production act to accelerate energy transition

(see also official statements on insulation, heat pumps and fuel cells)

Governments rethink intervention in energy markets

La Niña threatens to disrupt U.S. energy and agriculture

China’s leaders focus on transport and logistics (trans.)

U.S./Venezuela relations start to thaw ($BBG)

U.S. RETAIL GASOLINE prices have climbed to an average of almost $5 per gallon, the highest after adjusting for wages since June 2014, when Islamic State fighters were threatening to capture the giant oilfields of northern Iraq. Wage-adjusted pump prices are in the 92nd percentile for all months since 1994, up from the 60th percentile in December 2021 and the 53rd percentile in June 2021:

U.S. ROAD FUEL prices are rising even faster than crude benchmarks, resulting in an increasing premium first for diesel and now gasoline, as refineries prove unable to keep pace with demand from freight hauliers and private motorists:

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