Gas hit $4.56 this Memorial Day weekend and consumer sentiment just dropped to an all-time low. The Strait of Hormuz conflict is draining global oil reserves at a record pace, and the latest truce talks don’t seem stable at all. So energy businesses from utilities to autos are rethinking everything as the largest utility merge in the world, NextEra-Dominion, could reshape electricity prices on the entire Eastern Seaboard and Ford gets serious about building batteries even though it threw away it’s electric vehicle business.
CHAPTERS
00:00 Gas prices hit a four-year high this Memorial Day
00:56 Why this summer could be worse than 2022
01:13 Walmart's pump data signals consumer stress
01:36 Consumer sentiment drops to an all-time low
02:05 IEA report: global oil reserves are depleting fast
02:27 US crude and gas reserve charts explained
02:41 How 54 countries are responding and why the US isn't
03:52 What to expect this summer for energy prices
04:03 NextEra and Dominion merger: what it means for electricity
04:34 Ford's $20 billion EV writedown and the Ford Energy spin-off
06:15 Wrap-up
IF YOU LIKED THIS, WATCH:
→ Ford Struggles to Sell Cars in China: https://youtu.be/uvOGcIjL1_I
→ China's Auto Export Tsunami Crushes Global Markets:
→ Auto Sector Update: https://youtu.be/Q__ke5iP51Y
SOURCES & FURTHER READING
Gas Prices and Consumer Trends
Energy Deals and Power Industry Shifts
Automakers Pivot to Energy