OMA’s Energy Roundup

The following are energy-related developments that the OMA is tracking:

• The U.S. Department of Energy and intelligence agencies are warning energy companies about the discovery of malicious cybertools that could gain “full access” to electricity and natural gas control systems.
• New data show U.S. energy prices have soared 32% over the past year (shown by this chart), including 11% in March. Gasoline prices are up nearly 50% and oil prices are up 70%.
• High energy prices are causing substantial reductions in global stockpiles of key industrial metals — including aluminum, copper, nickel, and zinc — according to reports.
• FERC has shut down challenges to its proposed, climate-related natural gas pipeline policies, which are getting another look from the agency.
• West Virginia’s U.S. Sen. Joe Manchin (D) is putting pressure on the Biden administration to resurrect and rebrand the canceled Keystone XL pipeline.

Meanwhile, National Association of Manufacturers President and CEO Jay Timmons recently called President Biden’s plan to release oil from the Strategic Petroleum Reserve “a very temporary fix” that “doesn’t deliver the long-term energy security that America deserves.” 4/14/2022