** The Biden administration is considering a proposal to tax oil and gas windfall profits to provide a gas subsidy for American consumers struggling with high energy prices, said Bharat Ramamurti, deputy director of the National Economic Council at a panel sponsored by the Roosevelt Institute think tank on June 2.
** Ford Motor Co. announced plans to spend nearly $100 million and add more than 1,000 employees to its Kansas City Assembly Plant, the largest manufacturing site in the region.
** The amount of carbon dioxide in the Earth’s atmosphere is now more than 50% higher than pre-industrial times – and is at levels not seen since millions of years ago when Earth was a hothouse ocean-inundated planet, federal government scientists announced Friday.
** There may never be a new refinery built in the US despite surging gasoline prices as policymakers move away from fossil fuels, according to Chevron Corp.
** Los Angeles’ ban on gas stoves could spell the end for many Korean BBQ, Chinese restaurants.
** Three former nuclear oversight managers sue the Tennessee Valley Authority, saying they were ousted from their jobs in 2019 after alerting federal regulators to repeated safety concerns and violations.
World
** Iran’s Supreme Leader Ayatollah Ali Khamenei acknowledged Saturday that Iran took the oil from two Greek tankers last month in helicopter-launched raids in the Persian Gulf.
** An exiled Russian economist told The Washington Post that Putin will “laugh” at the costs of the oil embargo announced this week by the EU.
** Italian oil company Eni SpA and Spain’s Repsol SA could begin shipping Venezuelan oil to Europe as soon as next month to make up for Russian crude, five people familiar with the matter said, resuming oil-for-debt swaps halted two years ago when Washington stepped up sanctions on Venezuela.
** Data analysed by London’s Sunday Times showed companies are masking the origin of Russian oil. Greek-owned companies are switching oil between ships, or travelling directly to Russian ports. The companies are not thought to be in breach of current sanctions.
