** Fuel outages and a six-year high in gas prices persist across North Carolina, Washington, D.C., and other parts of the Southeast even as the Colonial Pipeline resumes operations.
** The US Energy Information Administration reported Tuesday disruptions to Colonial Pipeline operations prompted an increase in the average U.S. retail price for regular grade gasoline (retail gasoline price) to $3.03 per gallon (gal) on May 17, the first time retail gasoline prices averaged more than $3.00/gal since October 27, 2014.
** The Dakota Access pipeline owner in a new court filing cites the recent Colonial pipeline shutdown and a May 16 train derailment in Iowa as reasons to keep the project operating during an environmental review.
** Investor Warren Buffett’s company pared back its holdings in financial firms further during the first quarter and also halved its new investment in Chevron. Berkshire Hathaway Inc. provided an update on its U.S. stock holdings in a filing with regulators Monday.
** U.S. special climate envoy John Kerry waded into treacherous waters with comments about how much new tech is needed to fight global warming.
** The International Energy Agency (IEA) says that no new fossil fuel boilers should be sold from 2025 if the world is to achieve net-zero emissions by the middle of this century. It’s one of 400 steps on the road to net-zero proposed by the agency in a special report.
** Gasoline demand in the U.S. hit a new pandemic high last week, according to GasBuddy data released Sunday and national gas prices at $3.045 a gallon are the highest since October 2014, according to data from AAA.
** Royal Dutch Shell shareholders overwhelmingly backed the company’s energy transition strategy on Tuesday, but increased support for a second climate resolution filed by an activist group pointed to growing pressure to tackle climate change.
** Australia’s Woodside Petroleum Ltd said on Tuesday it would sell its 50% interest in the proposed Kitimat liquefied natural gas (LNG) development project in Canada, and expect a hit of about $40 million to $60 million in full-year net profit as a result.
** Texas state senators are discussing a bill that would charge EV drivers between $200 and $250 for their car each year, plus another $190 or more if they drive over 9000 miles.
** A number of prominent investment managers were so convinced that newcomer activist investor Engine No. 1 could successfully push for changes at Exxon Mobil Corp that they added to their holdings in the oil company in the first months of 2021.
