NY energy experts, advocates say Iran war shows need for Hochul to implement climate law
Gov. Hochul’s reliance on fossil fuels may end up costing more than renewables, clean energy advocates say.
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Gasoline futures surged on Wednesday to a two-year high while crude oil was down, as flooding and damage from Tropical Storm Harvey shut nearly a quarter of U.S. refinery capacity, curbing demand for crude while raising the risk of fuel shortages.
Global leaders have been scrambling to contain the rising cost of oil and gasoline since the start of the Iran war.
President Donald Trump has been pressuring U.S. oil and gas executives to invest in Venezuelaâs energy sector, nearly three months after the toppling of former president Nicolás Maduro, as the country is said to have the largest crude oil reserves in the world.
Media reports suggest the Trump Administration is considering restrictions on US oil exports.
The oil shock triggered by the crisis in the Persian Gulf has pushed crude above $100 per barrel, reviving familiar fears of economic turmoil in the United States driven by surging gasoline and diesel prices.
Amid global oil and gas disruptions, China stands prepared for the electrostate era.