AGP Executive Report

Middle East Oil Shock: Oil prices pushed back toward recent highs as Saudi infrastructure worries and ongoing attacks raised supply fears, keeping U.S. fuel costs under pressure. Diesel & Gas Prices: Diesel hit new record highs in Kansas and the U.S., with Kansas regular averaging about $3.94 and national regular above $4.31, while local GasBuddy reports show wide variation across counties. Grid & Data Centers: A Q&A highlights how flexible interconnection could speed power access for AI data centers, while regulators warn data-center growth is stressing reliability in some states. EPA Power-Plant Rollback: The EPA is poised to repeal Biden-era carbon rules for coal and gas plants, a move tied to electricity price concerns. Fed Watch: The Federal Reserve is expected to raise rates, with markets already jittery as oil and Treasury yields rise. Energy Security & Policy: A study argues California’s refinery dependence on imports creates a national security risk, and the U.S. says Saudi’s East-West pipeline could restart within days. Ukraine-Russia Energy Strikes: Ukraine says it hit a Russian refinery, undercutting claims of an energy truce.

EPA Rollback: The Trump administration scrapped Biden-era limits on carbon emissions from coal and gas power plants, a move West Virginia Gov. Patrick Morrisey called a win for “reliable, affordable” energy. Middle East Oil Shock: Oil jumped above $107 a barrel after attacks and damage to Saudi infrastructure, with the Strait of Hormuz and Red Sea shipping risks keeping crude elevated. Iran Talks Uncertainty: Trump said Iran wants a deal “quickly and badly,” while Iran’s top security official warned “no talks” until conditions are met, citing changed stakes around the straits. Ukraine Energy De-escalation: Zelenskyy said Ukraine could pause attacks on Russian energy targets if Russia shows genuine readiness to end the war, but doubts Moscow’s commitment. Sanctions & Finance: The U.S. hit Russia’s VTB Bank with new sanctions tied to Iran-related financial work. Grid & Storage Policy: A White House order aimed at blocking foreign cyber risk is creating uncertainty for U.S. battery storage projects. Gas Prices at the Pump: Florida averages climbed back above $4, with AAA citing crude’s jump; local reports also show diesel hitting record levels. Natural Gas Growth (Local): A city moved forward on expanding natural gas service near a new Kroger site in Georgia. Power Infrastructure: HD Hyundai’s barge-mounted 100 MW power plant got U.S. approval from ABS, pointing to more “power plants at sea” for data-center demand.

Middle East Oil Shock: Trump said Ukraine and Russia agreed to halt strikes on “energy targets,” as diesel hit a new U.S. record ($6.23/gal) and global fuel tightness worsened; Zelenskyy said Ukraine is ready for a reciprocal pause but wants specifics, while Trump also floated a postwar plan to “stay and keep the oil” in Iran. Market Pressure: GasBuddy reported gasoline and diesel rose in every state as Iran tensions, Red Sea hostilities, and a Saudi East-West pipeline outage tightened supplies; Brent pushed above $109. U.S. Fuel Costs at the Pump: Gas prices climbed sharply in Utah (Salt Lake City +29.4 cents to $4.61/gal) and Virginia (+18 cents to $4.14/gal), with diesel averaging $6.183 nationally. Policy & Infrastructure: Interior Sec. Doug Burgum warned New England shortages persist due to state pipeline bottlenecks blocking gas flows despite federal LNG exports. Nuclear for Power Demand: A new look at nuclear’s role in AI/data centers highlights Palisades and Three Mile Island restart efforts as near-term capacity options.

Middle East Energy Shock: Iran’s IRGC says it destroyed a U.S. Saildrone Explorer drone near the Strait of Hormuz, the latest escalation after a U.S. underwater drone was captured earlier—pushing Brent above $107 and raising fresh fears for global oil shipping. Household Cost Pressure: Moody’s Analytics’ Mark Zandi puts the Iran-war energy bill at about $115B, or roughly $860 per household, with gasoline near $4+ and the risk of more inflation feeding into Fed decisions. EPA Deregulation: The U.S. EPA is expected to formally rescind carbon pollution standards for coal and gas power plants, rolling back Biden-era emissions-reduction technology requirements. Shipping Costs & Oil Routing: Markets warn that if Hormuz stays unsafe, tankers may reroute via Suez or Africa—adding days and cost—while Saudi pipeline damage and Red Sea disruptions tighten supply. EV Supply Chain Oddity: Costco is rationing motor oil amid higher base-oil prices tied to the war’s fuel and logistics disruptions. Rare Earth Reality Check: A new look at U.S. rare-earth dependence highlights limited U.S. refining capacity versus China’s dominance, keeping supply-chain risk front and center. U.S. Gas Prices (Local Snapshot): GasBuddy reports diesel and gasoline prices remain volatile, with many counties seeing week-ending Sept. 5 lows in the mid-$3s for regular and mid-$5s for diesel.

Maritime Flashpoint: Iran’s IRGC says it destroyed a U.S. Saildrone Explorer near the Strait of Hormuz, following Iran’s earlier capture of a U.S. underwater drone—raising fears of wider disruption as Brent jumped above $107. U.S.-Iran Oil Risk: Trump floated the idea the U.S. could “stay in Iran” and take oil, while also claiming gasoline prices would fall sharply once the conflict ends. Diesel Pressure: Trump told Zelensky to stop striking Russian diesel infrastructure, blaming Ukraine for shortages as U.S. diesel prices reportedly hit record levels. Fuel Prices at the Pump: GasBuddy data for the week ending Sept. 5 showed premium lows like $4.19 in Autauga County and $4.36 in Lincoln County, while diesel lows ranged from about $4.99 in some counties to higher readings near $5.69 in New York’s Allegany County. Policy Watch: Congress faces a tight timeline to extend federal highway funding, with the BUILD America 250 Act still awaiting action.

Middle East Energy Shock: Saudi Arabia shut its East-West oil pipeline after drone attacks, while reports of a projectile hitting a vessel in the Strait of Hormuz added fresh risk to global crude flows; Brent pushed back above $100 as shippers weigh whether Red Sea and Hormuz disruptions will linger. U.S. Diesel & Household Pressure: The Iran-linked energy squeeze is feeding into higher U.S. diesel and gasoline costs, with record diesel prices hurting farmers and raising inflation pressure for consumers. EPA Biofuel Policy: The EPA’s small refinery exemptions drew mixed reactions as the agency granted 29 exemptions tied to Renewable Fuel Standard blending, with industry groups urging reallocation to protect biofuel demand and farm income. Nuclear & Grid Security: The White House is reportedly weighing using the Defense Production Act to expand U.S. oil refining capacity, while other coverage points to ongoing efforts to strengthen energy infrastructure. Renewables Claims Scrutiny: Apple’s renewable-energy reporting splits between electricity for operations and separate manufacturing supply-chain programs, highlighting how corporate clean-energy numbers can differ.

Middle East Energy Shock: Iran says it destroyed a U.S. Saildrone Explorer near the Strait of Hormuz, after Tehran also seized a U.S. underwater drone earlier—raising fears of wider maritime disruption as Brent pushes above $107. Oil Supply Crunch: Saudi crude output reportedly fell to the lowest since 1990 as Red Sea routes tighten under Houthi pressure and the Iran conflict squeezes exports, with U.S. diesel hitting a record $6/gal. Pipeline Fallout: Satellite and reporting point to damage and fires on Saudi Arabia’s East-West pipeline after drone strikes, with repair timelines unclear. Environmental Risk: A reported oil slick in the eastern Strait of Hormuz has grown to roughly 400 square kilometers, with groups warning of coastal impacts. U.S. Pump Reality: GasBuddy spot checks show wide local variation in the week ending Sept. 5, while AAA data highlights Minnesota regular averaging about $4.22 and diesel near $5.90 as crude volatility feeds through to prices.

Middle East Energy Shock: Saudi Arabia temporarily shut its 1,200-kilometer East–West crude pipeline after a drone attack, with Saudi officials saying drones originated from Iraq, as Houthis tighten control near the Bab el-Mandeb Strait—raising the risk of more supply disruptions and pushing oil back above $100. US Consumer Impact: The renewed Middle East squeeze is feeding into higher costs at home, with U.S. diesel hitting record levels around $6 a gallon and inflation pressure building. Grid & AI Power Demand: Data-center backlash is spilling into the power market, while Anthropic is reportedly discussing a major Texas data center that could include a large gas-fired generation site—highlighting how AI growth is colliding with permitting and grid capacity. Policy & Legal Watch: A federal judge blocked a Trump “energy emergency” effort to keep a Michigan coal plant running, underscoring how courts are shaping the pace of power-sector change.

Oil Price Shock: Chevron CEO Mike Wirth warned that crude buffers used to blunt earlier Iran-war price spikes are now “played out,” keeping upside risks for fuel prices over the next few months as diesel hits $6/gal and Brent stays on track for an 8% weekly gain. Refining Capacity Push: The White House is weighing using the Defense Production Act to expand U.S. oil refining capacity after Iran-linked supply disruptions exposed vulnerability to global crude swings, with officials focused more on boosting efficiency and existing plants than building new refineries. Middle East Shipping Risk: India’s Modi met Iran’s Pezeshkian to stress protecting freedom of navigation and seafarers as attacks tighten pressure on Red Sea and Hormuz routes. Markets & Inflation: U.S. stocks slid as WTI topped $100, reviving inflation and rate-hike concerns; later, oil’s pullback helped stocks bounce while CPI stayed a key watch item. Gas Prices on the Ground: GasBuddy reported wide regional variation, including E85 as low as $2.19/gal in Ramsey County and diesel lows around $5.39/gal in Warrick County, underscoring how Middle East tensions and refinery conditions keep pump prices jumpy. Policy & Politics: Commerce Secretary Howard Lutnick said Trump’s promised $5,000 “dividend” checks wouldn’t come from taxpayer dollars, while Congress weighs Russia sanctions that could affect energy costs.

Oil & Gas Markets: Oil surged again as Middle East shipping risks deepened. Brent briefly topped $108 and WTI pushed above $102, with prices set for a week over $100 for the first time in nearly four months, lifting global stocks and bond yields. Energy Prices at the Pump: The jump is showing up fast in the U.S.: AAA put the national average regular gas at about $4.27 a gallon, while diesel hit record highs near $6. Middle East Supply Shock: The Houthis seized Yemen’s Red Sea port of Mocha and advanced along the coast, raising fears for Saudi Red Sea exports and adding pressure beyond the Strait of Hormuz. Policy & Politics: Trump again tied lower gasoline prices to the midterms, saying oil and gas costs won’t fall until “right after” the election. Grid & Utilities: Florida regulators are weighing whether Duke Energy Florida’s data-center tariff could shift costs onto households, a test of how the state enforces “major customer” cost rules. Power Sector M&A: Wynson Securities said NextEra and Dominion’s all-stock combination is moving forward after shareholder approvals, aiming to build a larger regulated grid-and-generation platform.

Middle East Energy Shock: Iran–U.S. clashes are pushing oil back above $100 a barrel, with shipping and tanker attacks raising fresh supply fears and feeding into higher fuel costs. Inflation Watch: The latest U.S. producer-price report showed wholesale inflation rising 0.4% in August, with energy up 4.2%—a reminder that diesel and heating fuel are still driving price pressure. Diesel Pain at the Pump: AAA reports national diesel at an all-time high near $5.98/gal, while record highs are also showing up in states like North Carolina. Grid & Policy: Florida regulators voted 4-1 to keep a utility cost-saving rule that protects ratepayers from higher electricity bills tied to parent-company tax breaks. Clean Energy Deals: Enbridge agreed to buy Tallgrass Energy’s pipeline, storage and marketing assets for $2.55B, expanding crude infrastructure tied to Cushing, Oklahoma. Renewables Buildout: Invenergy and HASI closed an equity partnership backing a 2.7 GW U.S. wind/solar/solar-plus-storage portfolio. Worker Safety Tech: Blackline Safety rolled out its new G8 connected safety wearable ahead of the NSC Safety Congress in Indianapolis.

Middle East Oil Shock: Oil prices stayed pinned above $100 a barrel after the U.S. and Iran escalated attacks around the Strait of Hormuz, with Washington saying it destroyed five Iranian oil tankers and Tehran warning it’s ready to intensify retaliation—keeping traders focused on supply disruption risk. Pump Prices: In Florida, AAA put regular gasoline around $3.90/gal and diesel near record levels, while national averages showed gasoline still elevated and diesel at a record $5.90/gal—fueling fresh inflation worries. Diplomacy & Sanctions: The U.S. pushed an IAEA resolution to refer Iran’s nuclear file to the UN Security Council, deepening divides with China and Russia as the standoff continues. U.S. Politics & Energy Costs: Trump’s midterm messaging included promises tied to election outcomes, while analysts and reporting linked higher oil and diesel costs to pressure on households ahead of November. Local Energy Infrastructure: A Pennsylvania energy campus project drew renewed community scrutiny as planning and data-center discussions continue. Climate Backdrop: Copernicus reported August as the joint-hottest month on record, adding to the broader pressure on energy, weather, and costs.

Oil Shock: Brent crude pushed above $100 a barrel again as the U.S.-Iran shipping fight escalated, with CENTCOM saying it destroyed multiple Iranian oil tankers and Iran retaliating—fueling fresh inflation worries and dragging stocks lower. Gas Prices at the Pump: AAA reports Florida regular gas topped $4 for the first time since late May (state average $4.07); nationally, regular rose to $4.22 after Labor Day, while diesel hit a new record around $5.90. Local Fuel Snapshot: GasBuddy’s weekly reports show pockets of relief but still-high prices—Florida’s Pensacola near $3.92, and many Midwest counties still seeing premium and diesel well above $4 and $5 respectively. Pipeline Court Win for Water: A federal appeals court halted Williams’ Northeast Supply Enhancement gas pipeline after ruling it violated New Jersey water-quality rules, vacating the state permit. Nuclear & Power Moves: DOE completed a $1.9B loan to restart Iowa’s Duane Arnold nuclear plant, and Indiana’s first advanced micro modular reactor was slated for Naval Weapons Station Crane by Sept. 2028. Data Centers vs Water: Utah’s Creekstone Energy pitched “GIGAWATER,” aiming to generate water from natural-gas power for the Delta Gigasite campus amid severe drought. Renewables IP Fight: GameChange Energy filed a patent infringement suit against Nextpower over high-tilt stow tech for solar trackers.

Middle East Energy Flash: The U.S. says CENTCOM destroyed five Iranian crude oil carriers after Iran targeted a U.S. Navy warship with ballistic missiles; Iran retaliated with missile strikes on U.S. targets in Jordan, while Jordan reported intercepting 18 of 20 missiles. Oil Prices & Pump Pressure: The conflict is pushing Brent toward $100 a barrel, lifting WTI and raising fresh inflation worries—coming as U.S. drivers already face elevated gasoline and record diesel levels. Saudi Energy Risk: Yemen’s Houthis struck Saudi cities and energy sites, injuring 70+ and prompting Saudi vows of retaliation, adding another supply-risk layer for global crude. U.S. Policy & Capital: DOE and SBA launched the SBIC-E initiative to steer private capital into U.S. energy and critical-tech small businesses, including critical minerals and advanced manufacturing. Critical Minerals & Nuclear: Colombia and the U.S. signed MoUs to expand civil nuclear cooperation and critical minerals/rare earth supply chains. Market Watch: Resolution Minerals began Nasdaq trading as it advances Idaho gold and critical-minerals work, while U.S. fuel-price reporting continues to show regional variation.

Middle East Oil Shock: Fresh hostilities tied to the U.S.-Iran standoff and Houthi attacks are pushing oil to its highest levels since late July, deepening market gloom as investors weigh inflation data and Fed policy. Consumer Impact: Analysts warn the Iran-driven energy bill could top $100B, with shipping and refinery disruptions keeping fuel costs elevated. U.S. Legal/Policy: AG Raúl Labrador won a major court fight against New York’s Climate Change Superfund Act, striking down a proposed $75B penalty on energy producers. Geothermal Push: NLR and the DOE launched a Geothermal Center of Excellence in Colorado to speed up geothermal deployment nationwide. Nuclear for AI Demand: The DOE approved a $1.9B loan to restart Iowa’s Duane Arnold, part of a broader push to supply power for data centers. Trade Tensions: Canada moved forward with retaliatory tariffs on $20B+ of U.S. goods, escalating the cross-border trade fight. Power & Safety: Enbridge’s CEO stepped down as the company points to $41B in growth projects; a lithium-ion battery shed fire in Florida destroyed a home, underscoring battery safety risks.

Oil & Gas Markets: Brent rose to about $97.5 and WTI to about $92.9 as Iran warned of retaliation and the U.S. struck Iranian oil tankers, keeping traders focused on tighter Persian Gulf supply and possible shipping disruptions. Consumer Impact: The Iran war’s energy-price hit has reached roughly $100 billion for U.S. households, with Labor Day gas hitting record levels—AAA pegged the national regular average at $4.15, while Los Angeles County averaged $5.906. Energy Costs & Risk: Analysts say Hormuz flows remain far below pre-war levels, helping explain why crude is near $100 even without a full supply shutdown. Trade & Energy Policy: Canada’s retaliatory tariffs on about $20B of U.S. goods took effect after the latest tariff round, with energy and resource exports repeatedly flagged as potential leverage points in the broader U.S.-Canada fight. Workforce Shift: A U.S. Energy Department report found energy-sector employment fell about 1% in 2024-2025, with job losses concentrated in wind, hydro and especially solar, even as demand is expected to rise with electricity growth and data centers. Local Power Push: Mexico’s Yucatán is on track for 100 community solar systems by end-2026, aiming to expand reliable, lower-cost electricity in rural areas.