May 15 – CNN:
“California reservoirs are already at critically low levels due to unrelenting drought, and residents and businesses across the state are also using more water now than they have in seven years, despite Gov. Gavin Newsom’s efforts to encourage just the opposite. Newsom has pleaded with residents and businesses to reduce their water consumption by 15%. But in March, urban water usage was up by 19% compared to March 2020, the year the current drought began. It was the highest March water consumption since 2015… Part of the problem is that the urgency of the crisis isn’t breaking through to Californians.”
May 15 – Bloomberg:
“Germany plans to stop importing Russian oil by the end of the year even if the European Union fails to agree on an EU-wide ban in its next set of sanctions, government officials said. Efforts to seal deals with alternative suppliers are progressing at the chancellery in Berlin and the government is confident it can solve remaining logistical problems within the next six to seven months, according to the officials, who spoke on condition of anonymity.”
May 16 – Reuters:
“Skyrocketing natural gas prices have raised manufacturing and transportation costs across many U.S. industries, and the situation should persist as the United States exports more gas to Europe to make up for Russian supplies lost to sanctions. U.S. natural gas futures have doubled this year, far more than the increases in retail gasoline and diesel that have made Americans angry at the U.S. energy industry and the government. Many industrial company executives believe the United States… should stop exporting gas and prioritize its own needs. But gas producers are pushing for more export capacity along with more permits for drilling. Gas output in key locales in the United States has slowed this year, partly due to insufficient pipeline capacity. Bad weather also cut production and boosted demand.”
May 16 – Bloomberg:
“From record prices to blowout spreads and falling stockpiles, a handful of financial and physical indicators are pointing to expensive and possibly tighter gasoline markets across the US this summer. Gasoline futures trading in New York are extending a record rally on Monday, while US retail prices continue to set fresh peaks for the past week. Gasoline stockpiles are falling to their lowest level since 2015 for this time of year.”
May 18 – Bloomberg:
“China is seeking to replenish its strategic crude stockpiles with cheap Russian oil, a sign Beijing is strengthening its energy ties with Moscow just as Europe works toward banning imports due to the war in Ukraine. Beijing is in discussions with Moscow to buy additional supplies, according to people with knowledge of the plan… Crude would be used to fill China’s strategic petroleum reserves, and talks are being conducted at a government level with little direct involvement from oil companies, said one person.”
May 19 – Yahoo Finance:
“California energy officials issued a sobering warning this month, telling residents to brace for potential blackouts as the state’s energy grid faces capacity constraints heading into the summer months. And since the state has committed to phase out all new gas-powered vehicles by 2035… the additional load from electric vehicle (EV) charging could add more strain to the electric grid. ‘Let’s say we were to have a substantial number of [electric] vehicles charging at home as everybody dreams,’ Ram Rajagopal, an associate professor of Civil and Environmental Engineering at Stanford University, who authored a recent study looking at the strain electric vehicle adoption is expected to place on the power grid, told Yahoo Finance. ‘Today’s grid may not be able to support it. It all boils down to: Are you charging during the time solar power is on?’”
May 20 – Reuters:
“China is quietly ramping up purchases of oil from Russia at bargain prices, according to shipping data and oil traders who spoke to Reuters, filling the vacuum left by Western buyers backing away from business with Russia after its invasion of Ukraine in February. The move by the world's biggest oil importer comes a month after it initially cut back on Russian supplies, for fear of appearing to openly support Moscow and potentially expose its state oil giants to sanctions.”