** U.S. Sen. Shelley Moore Capito of West Virginia calls on the Biden administration to cut regulations to spur domestic energy production.
** Coal employment remains steady in Northern Appalachia, but grew nearly 14% in central Appalachia from the lows of 2020 amid high demand for steel-making coal.
** As much as 2.09 million barrels a day of gasoline, diesel and jet fuel shipped out from the U.S. Gulf Coast in April, Bloomberg reports. Most went to Latin America, where diesel fuel demand will remain high during the Southern Hemisphere’s winter.
** The U.S. electric grid should be stable this summer thanks to 30 GW of additional electricity generating capacity compared to 2021, Federal Energy Regulatory Commission (FERC) forecast on Thursday.
** Twenty-two congressional Democrats have urged caution over the European Union’s plan to replace fossil fuel imports from Russia with liquefied natural gas (LNG) infrastructure. In a letter to President Biden and European Commission President Ursula von der Leyen, the members warned that the transition must incorporate the goals of the Paris Climate Agreement.
** Facing fierce opposition from California’s powerful oil industry and trade unions, legislation to close down operations on three offshore oil rigs off the Orange County coast failed Thursday to win passage in a state Senate committee, seven months after a major spill fouled the beaches and wetlands around Huntington Beach.
World
** China added some downward pressure to oil prices this week when it clearly signaled its intent to buy more discounted Russian oil. Between China and India, Russia is racing to pivot towards Asia as the EU attempts to ditch its oil.
** Russia has exported about 450,000 barrels per day of crude to Italy this month, the most since 2013. That’s more than four times the amount exported in February, the tail end of which saw the start of Russia’s war on Ukraine.
** Russia’s oil production is showing signs of life after a steep downturn in April. The Kremlin said output rebounded by as much as 300,000 barrels per day in May.
** German regulators are drawing up plans to ration gas to the country’s businesses in the event of Russia cutting off supplies. The move would effectively shut down swathes of German industry and significantly worsen its economic plight.
** At least five Chinese companies will have to stop work on Russia’s Arctic LNG 2 project in northern Siberia by the end of this month, according to an industry publication, due to EU sanctions against Moscow over its invasion of Ukraine.
** Finland has agreed a 10-year charter for a floating storage and regasification (FSRU) vessel with U.S. based Excelerate Energy to help replace Russian gas supply, finance minister Annika Saarikko said on Friday.
