Democrats – Oil & Gas 360

Democrats urge DOJ to investigate oil majors for climate change disinformation

May 23, 2024

Oil Price U.S. Democratic lawmakers have referred the world’s largest international oil companies to the U.S. Department of Justice, urging an investigation into Big Oil’s ‘deceptive claims’ about its products that have misled the public about the effects on climate. The U.S. House Oversight Committee launched in 2021 an investigation over “the reported role of the fossil fuel industry in a long-running, industry-wide campaign

Democrats propose buying and selling oil to fund EV rollout

September 27, 2022

Oil Price Several Democratic Representatives have proposed new legislation that would allow the Department of Energy to buy and sell oil with the purpose of lowering gasoline prices and funding electric vehicle charging infrastructure. Congressman Frank Pallone, Jr. introduced on Monday the Buy Low and Sell High Act, new legislation under which an Economic Petroleum Reserve would be created. The

Democrats’ oil import tax would violate Biden pledge, group says

August 2, 2022

World Oil (Bloomberg) — Democrats’ plan to reinstate a 27-year-old fee on oil imports represents a violation of a pledge by President Joe Biden not to raise taxes on anyone making less than $400,000 per year, according to the conservative Americans for Tax Reform. The proposal to levy a 16.4-cents-per-barrel tax on crude oil and other imported petroleum products is included in

U.S. considering a ban on crude oil exports, says House Democrat

November 23, 2021

World Oil (Bloomberg) –A House Democrat who’s urging the White House to reduce oil prices by banning exports of U.S. crude oil says he’s been told the idea is under consideration. Representative Ro Khanna of California said he disagrees with a number of industry analysts and economists who have said the idea could backfire. Representative Ro Khanna, a Democrat from

Democrats push to outlaw U.S. oil exports, threatening global market stability

November 11, 2021

World Oil WASHINGTON (Bloomberg) – President Joe Biden faces growing pressure even from fellow Democrats to address rising gasoline prices with measures such as a ban on oil exports, a move that could upend global markets, discourage shale drilling and end up not helping American drivers that much. It was only six years ago that Congress lifted a 40-year-old ban

Democrats scramble to give Biden a climate win ahead of COP26 summit

October 26, 2021

World Oil WASHINGTON (Bloomberg) – Negotiations over the climate provisions in the Democrats’ spending bill have accelerated and are focused on a package of measures that could replicate the emissions reductions of a clean energy plan dropped from the draft legislation. The new proposals would expand grants and loans in the agriculture and industrial sectors to help them shift to

Democrats want to add new drilling bans to Biden’s $3.5T infrastructure bill

August 26, 2021

World Oil WASHINGTON (Bloomberg) –Endangered desert fish would get millions of dollars in federal funding while oil companies would face new fees and a ban on most offshore drilling under a plan floated by House Democrats. The details were summarized in a document seen by Bloomberg News. The document was prepared by staff on the House Natural Resources Committee and

Democrats accuse Energy Department of underspending on clean energy research

February 5, 2020

Houston Chronicle WASHINGTON — The Department of Energy isn’t distributing funding for clean energy research fast enough, House Democrats said Wednesday. At a hearing before the oversight panel of the House Science and Space Committee, Chairman Rep. Bill Foster, D-Ill., said the department’s Office of Energy Efficiency and Renewable Energy didn’t spend $823 million in funding appropriated by Congress last

Democrats call out Marathon Petroleum for ‘relentless lobbying against climate action’

January 13, 2020

Houston Chronicle WASHINGTON – A trio of Democratic Senators is asking some of Marathon Petroleum’s largest shareholders, including JP Morgan Chase and Blackrock, to warn the Ohio-based refining company that it needs to stop lobbying against climate action. “Marathon is one of the leading forces in Washington opposing efforts to limit carbon pollution and fight climate change, ” reads the letter.

Drilling ban proposals divide Democrats in U.S. oil states

November 1, 2019

Source: Reuters CARLSBAD, New Mexico (Reuters) – In the southeast corner of New Mexico, new houses, hotels and jobs are sprouting like flowers in the desert. Trucks hauling equipment and laborers jam once-barren highways on the way to thousands of oil rigs. The Democrats who control the state’s government have lofty plans for the billions of dollars in projected

Premium Content