America’s oil and gas industry employs over 11 million people and is worth more than $1.6 trillion, making the energy transition more difficult than it may seem.
Commodity traders have booked at least six tankers – provisionally – to start shipping gasoline from Europe to the US in the wake of the outage of the Colonial Pipeline network, Reuters reports, citing data from Refinitiv.
While experts say the current gas price spike is mostly driven by demand recovering faster than the winter storm-squeezed supply, others warn “hostile” White House policies are likely to drive them even higher in the long term.
