(Bloomberg) – Prime Minister Rishi Sunak said the UK will need fossil fuels for the “next few decades” as the UK moves to eliminate net greenhouse gas emissions, after being urged to oppose Equinor ASA’s Rosebank oil field …
DUBAI, United Arab Emirates — When arch-rivals Saudi Arabia and Iran announced they were restoring diplomatic relations, much of the world was stunned — not only because of the breakthrough after years of mutual animosity, suspected attacks and
In his latest speech, Vladimir Putin blamed Ukraine and the West for “provoking” Russia into invading Ukraine. Putin also issued a new warning to the West by suspending Russia’s participation in a major nuclear arms control treaty with …
LONDON – Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining firms, some with Russian connections.
Most of the winners from the sanctions are based in China, …
A bid by Democratic leaders to add a plan by Senator Joe Manchin to fast-track energy projects to a must-pass defense bill failed amid a revolt by progressive Democrats and pushback from Republicans.
Manchin’s proposal, which would …
(Bloomberg) — A previously-stalled legislative effort to fast-track energy projects backed by West Virginia Senator Joe Manchin could be attached to a must-pass defense bill after a last-minute push by Democratic leadership, people familiar with the effort said.…
WASHINGTON – The Biden administration has asked Congress for $500 million to modernize the U.S. strategic petroleum reserve (SPR), a document outlining the request shows.
If approved by Congress, the request, issued by the White House on Tuesday, provides …
Three weeks ago, President Joe Biden threatened Saudi Arabia with “consequences” after the kingdom that is the de facto leader of OPEC supported a decision to reduce oil production by about 1 million barrels daily.
The …
(Bloomberg) – U.S. House Republicans made the case for more U.S. oil production at the UN climate summit in Egypt, arguing that cleaner domestically produced crude is needed to meet growing demand.
“If we are going to be …
(WO) – Five U.S. Senators have sent letters to 51 law firms detailing the possible antitrust violations that their clients may commit if they pursue collusive Environmental, Social, and Governance (ESG) initiatives.
The letter, signed by Marsha …
(Bloomberg) – Months after the Biden Administration passed sweeping climate legislation, the battle to determine how quickly the US transitions away from fossil fuels hinges in part on local and state-level ballots.
In some races, voters are choosing …
Several days ago, President Biden made a media splash when he threatened oil companies with windfall taxes and “other restrictions” if they don’t stop returning cash to shareholders and start investing this cash in more oil production.
…
(Bloomberg) — Republicans in Congress are dusting off past plans to address climate change as they prepare for the likely prospect they will win control of at least one chamber of Congress in the midterm elections next week. …
(Bloomberg) — House Republicans are launching an investigation into what they say could be the “potential misuse” by the Biden administration of the nation’s emergency oil reserves to lower gasoline prices, as well as White House deliberations over …
NEW YORK – Oregon’s cap-and-trade program, Maryland’s net-zero emissions targets, and Arizona’s solar subsidies all hang in the balance in upcoming midterm elections, and their fate could have an effect on U.S. climate performance.
States have taken
The OPEC+ group’s decision to reduce its crude oil production target by 2 million barrels per day (bpd) came at “the worst possible moment” and will have a wide-ranging impact on the economy and inflation, Barbara Leaf, Assistant …
After months of constant criticism mainly by Republican politicians of adopting government policies that have triggered runaway inflation and skyrocketing fuel prices, President Biden in March announced an unprecedented release of 180 million barrels of crude oil from …
Washington sees OPEC+’s decision to slash oil production by more than 2 million barrels a day as political interference and a “blow” against U.S. President Joe Biden, said Dan Yergin, vice chair of S&P Global.
On Wednesday, the …
NEW DELHI: The United States had constructive discussions with Indian officials on a proposal to cap prices of Russian oil, US Deputy Treasury Secretary Wally Adeyemo said on Friday, as it seeks global support for a proposal to …
JERUSALEM – A new nuclear deal between world powers and Iran would allow other nations to avoid sanctions and give Teheran $100 billion a year to destabilise the Middle East, Israeli Prime Minister Yair Lapid said on Wednesday.…
(Bloomberg) — President Joe Biden won temporary permission to once again pause energy leasing on federal lands and waters, after a U.S. appeals court found a trial judge’s order against the moratorium too vague to review.
The court …
Russia is facing “economic oblivion” in the long term because of international sanctions and the flight of businesses, several economists have said.
The International Monetary Fund last week upgraded Russia’s gross domestic product estimate for 2022 by 2.5 …
Solar stocks tumbled Friday after Sen. Joe Manchin said he will not support increased spending to address climate change, according to NBC News, citing a Democrat briefed on the conversations.
The Invesco Solar ETF, which tracks …
BEIRUT/JERUSALEM -Lebanon said on Monday it would invite a U.S. mediator to Beirut for negotiations over a disputed maritime boundary with Israel to prevent any escalation, after accusing Israel of encroaching on contested waters.
Israel said the dispute
WASHINGTON – A U.S. Senate panel will consider as soon as next week a bill to open the OPEC oil production group and countries working with it to lawsuits for collusion on boosting petroleum prices, a Senate aide said …
An analyst at Evercore ISI, which tracks many market and regulatory factors affecting oil and gas, says he has been getting questions this morning about the Monday/Tuesday overnight news that Senator Joe Manchin (D-W.V.) convened a bipartisan group, …
Energy workforce council comments on President Biden’s remarks on gas prices
World Oil
With U.S. gasoline prices remaining high a week before midterm elections, President Joe Biden said he will attempt to levy additional taxes on oil corporations that record “windfall” profits without reinvesting in production, Bloomberg reported.
Biden …