If this outage goes past the end of the week . prices could spike pretty dramatically, said Kevin Book of Clearview Energy Partners. It s very difficult to pin the exact amount prices may rise, but for now, it appears to be a few cents per gallon, possibly growing more significant if the pipeline remains shut down for more than 2-3 more days, GasBuddy said in a blog post on Monday.
Prices were already edging up before the cyber intrusion, due to growing consumer demand and resurgent economic growth. Over the last week, the national average for a regular gallon of gas has risen six cents to $2.96, according to AAA. Should that trend continue, an increase of three more cents would bring the average to $2.99, which would be the priciest gas since November 2014, the auto club said.
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If President-elect Joe Biden wants to make progress on his decarbonization agenda, then the US vehicle fleet is ground zero. Cheap shale-gas, ever-cheaper renewable energy, and flat electricity demand have already forced the closure of many coal-fired power plants. Transportation overtook the electricity sector as the largest source of greenhouse gas emissions in 2017.
Hence, Biden’s appointment of Jennifer Granholm to be the next Secretary of Energy ticks a number of boxes. She is a former governor of Michigan, both a crucial swing state for Biden and, of course, home to Detroit. She sits on the board of Proterra Inc., a cutting-edge electric-bus manufacturer based in California, and has long advocated for green-hued industrial policy. It helps that she will be only the second woman ever to head the Department of Energy, and is an immigrant to boot.