Politics

Source: Reuters

Biden administration blocks activist bid to reduce oil, gas production from federal land

World Oil


(Bloomberg) – The Biden administration has formally rebuffed a bid by environmental activists to phase down oil and gas production on federal lands and waters, marking its latest nod to the endurance of fossil fuels in a warming …

Source: Oil Price

House Republicans propose the study of an oil naval blockade of China

Oil Price


The House of Representatives is discussing a move that would effectively amount to an act of war if carried out: a naval blockade on China. The proposal for an amendment to the next defense budget of the United …

Source: Reuters

Pentagon papers show Saudi Arabia, U.S. traded threats over oil

Oil Price


Newly leaked Pentagon papers showed that Saudi Arabia’s Crown Prince Mohammed bin Salmon threatened the United States with economic calamity over oil production decisions, according to the Washington Post.

Relations between U.S. President Biden and Saudi Arabia’s bin …

Source: Oil Price

The debt ceiling drama ended well for the energy industry

Oil Price


The debt ceiling drama (farce?) has ended. Having manufactured a crisis that could have tanked the economy, our legislators solved the problem and took credit for their statesmanship, some might argue.

Let’s leave aside the political noise and …

Source: Reuters

Biden bans oil and gas leasing near New Mexico cultural site

Oil Price


The U.S. Administration has banned new oil and gas leasing near the Chaco Culture National Historic Park in New Mexico as part of a plan to protect the area and a larger portion of federal land from drilling.…

Source: Reuters

White House, GOP reach compromise on energy disputes as part of debt-limit deal

World Oil


(Bloomberg) –President Joe Biden and House Speaker Kevin McCarthy compromised on bitterly contested disputes over federal spending as part of their debt-limit deal. They must now sell the agreement to lawmakers from both parties.

Here’s a look at …

Source: Reuters

U.S. and Australia sign clean energy pact

Oil Price


The United States and Australia agreed this weekend on a clean energy manufacturing pact with a focus on the energy transition and emissions reduction.

 

The so-called Climate, Critical Minerals, and Clean Energy Transformation Compact establishes climate and …

FILE PHOTO: A flare burns excess natural gas in the Permian Basin in Loving County, Texas, U.S. November 23, 2019. REUTERS/Angus Mordant

U.S. legislators attempt to ban oil and gas exports

Oil Price


Three U.S. legislators have proposed a bill that would reimpose a ban on U.S. crude oil exports on the ground that this would benefit coastal communities, U.S. energy consumers as a whole, and help the U.S. achieve its …

Source: CNBC

The China-brokered Saudi-Iran deal has big repercussions for the Middle East — and the U.S.

CNBC


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

Source: Oil Price

Big oil lashes out at Brazil for surprise crude export tax

Oil Price


Big Oil majors with operations in Brazil have filed an injunction against a new oil export tax that the Lula da Silva government introduced surprisingly a week ago.

 

The Brazilian government announced at the start of this …

Source: Reuters

Putin issues a new nuclear warning to the West

Oil Price


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 …

February 21, 2023 - 11:00 am Closing Bell Story‎, Energy News, Political News, Politics, Russia
Source: Reuters

U.S. steps up efforts to sanction Iranian crude

Oil Price


The world’s largest crude importer and main customer of Iranian oil, China, is seeking increasingly closer ties with Iran while the United States steps up pressure on the Islamic Republic’s oil exports.

Chinese President Xi Jinping pledged to …

Source: Reuters

Alaska condemns restrictions on Alaskan oil drilling project by Biden administration

World Oil


(Bloomberg) – Alaska’s senators sharply condemned any potential Biden administration move to authorize ConocoPhillips’ $8 billion Willow oil project with restrictions so onerous it wouldn’t be viable, warning that would be seen as a rejection — and an …

Source: World Oil

Biden administration attempts to reconcile with oil and gas industry

World Oil


(Bloomberg) — Energy Secretary Jennifer Granholm extended an olive branch to the oil and gas industry, telling executives at a meeting in Washington that she recognizes fossil fuels will be around for a long time, even as the …

Source: World Oil

Manchin energy-permit plan left out of defense bill amid revolt

World Oil


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 …

Source: Reuters

Manchin’s energy-permitting reform bill may get another chance

World Oil


(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.…

Source: Oil Price

California targets oil industry with profit cap

Oil Price


California legislators have tabled a bill aimed at extracting more money from oil companies who they blame for excessive gasoline prices in the state, local media report.

Per the Sacramento Bee, the bill was proposed by Democratic …

December 6, 2022 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance, Politics
Source: Reuters

Senators warn law firms about ‘collusive’ ESG initiatives

World Oil


(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 …

Source: World Oil

Six state races to watch that will help define US energy transition

World Oil


(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 …

Source: World Oil

GOP plans to offer oil, gas and trees as climate fixes in next Congress

World Oil


(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. …

Source: Oil Price

Biden’s rocky relationship with big oil and OPEC

Oil Price


President Biden this week made a splash in the world of news as he once again pointed the finger at the oil industry, accusing companies of “war profiteering” and threatening what essentially comes down to a financial punishment …

November 3, 2022 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC, Politics
Source: World Oil

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 …

Source: World Oil

House Republicans launch probe of Biden’s oil reserve release

World Oil


(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 …

Source: Reuters

U.S. midterm outcome in certain states could affect approach to energy

US News


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

Source: Reuters

Qatar energy chief says oil and gas trade should be depoliticized

Nasdaq


Saad al-Kaabi, the head of Qatar’s state-run energy company, said on Monday all oil and gas trade should be depoliticized, calling for policies to move away from sanctions and anti-free market agreements.

The comments by Kaabi, who is also …

Source: Oil Price

Taiwan prepares for Chinese invasion by stocking up on natural gas and coal

Oil Price


Taiwan is stocking up on natural gas and coal in anticipation of more military action from Beijing, Reuters has reported, citing a Taipei government official.

 

In case of a Chinese attack on the island or a …

October 24, 2022 - 1:30 pm China, Closing Bell Story‎, Crude Oil News, Energy News, Politics
Source: Oil Price

Has OPEC+ dictated the outcome of the U.S. mid-term elections?

Oil Price


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 …

Source: Reuters

Washington sees OPEC+ oil production cuts as a political ‘blow against Biden,’ says Dan Yergin

CNBC


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 …

Source: Bloomberg

Manchin enlisting oil CEOs to get GOP support for permitting bill

World Oil


(Bloomberg) — Democratic Senator Joe Manchin is enlisting the help of energy-industry executives to marshal Republican support for his plan to speed up the process of getting federal approvals for energy projects, according to people familiar with the …

Source: Bloomberg

Biden’s freeze on oil, gas leases on public land temporarily reinstated

World Oil


(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 …