From AP News The U.S. economy slowed sharply in the April-June quarter even as consumers stepped up their spending. The gross domestic product, the economy’s total output of goods and services, grew at a 2.1% annual rate last quarter, down from a 3.1% gain in the first quarter, the Commerce Department estimated Friday. But consumer spending, which drives about 70%
By Tyler Losier, Energy Reporter, Oil & Gas 360 Iranian Revolutionary Guard seizes foreign tanker, claims it was smuggling fuel Iran’s Islamic Revolutionary Guard Corps Navy has reportedly seized a foreign oil tanker traveling through the Strait of Hormuz, claiming that the ship was attempting to smuggle Iranian oil out of the country. Based on a series of videos released
By Tyler Losier, Energy Reporter, Oil & Gas 360 New $8 billion project would include 2,000 KTA ethylene cracker Petrochemical company Chevron Phillips – equally owned by Chevron Corporation and Phillips 66 – has formed another joint venture with Qatar Petroleum (QP), this time to build an $8 billion petrochemical plant in the Gulf Coast region of the United States.
From The Seattle Times BILLINGS, Mont. (AP) — Environmentalists asked a federal judge on Monday to cancel approvals issued by the U.S. Army Corps of Engineers for the Keystone XL oil pipeline from Canada, opening another front in the legal fight over a long-delayed energy project that President Donald Trump has tried to push through to completion. Attorneys for the
From Bloomberg Pacific Bravo en route Hong Kong, senior U.S. official says accepting the ship would expose city to sanctions The U.S. warned Hong Kong that it could face penalties if it does business with an oil tanker headed for the city that allegedly violated sanctions on Iran. Washington wants to put China and the autonomous city on notice that
From AJOT/Bloomberg The Trump administration is proposing tariffs on goods from countries found to have undervalued currencies, in a move that would further escalate its assault on global trading rules. The proposal, laid out in a Federal Register notice released on Thursday, would let U.S.-based companies seek anti-subsidy tariffs on products from countries found by the U.S. Treasury Department to
From Bloomberg U.S. President Donald Trump resumed his attacks on OPEC, saying the global economy is too fragile to handle a price hike and urging the cartel to “relax and take it easy.” Trump’s war of words with the Organization of Petroleum Exporting Countries punctuated big price swings last year, as he pressured the group to keep the taps open
From Reuters Oil prices rose about 1 percent on Tuesday as the market shifted focus to the possibility of increased Chinese demand, drawing attention away from trade tensions between that country and the United States after a series of tariffs imposed by both countries. Brent crude was up 76 cents at $73.82 a barrel by 12:27 p.m. EDT (1627 GMT).
From Reuters Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals. The specter of tariffs on a further $200 billion of Chinese goods sent commodities lower along with stock markets, as tension between the world’s
Trump says he Understands if a Municipality or State wants to Ban Fracing On the campaign trail, Donald J. Trump has referenced fracing in a number of speeches, always on the favorable side. Trump made a strong endorsement for shale energy development in his North Dakota energy policy speech in May. And rumors have come out in the media that he’s looking at
Trump is headliner at the Western Conservative Summit In his first appearance in Colorado since he launched his campaign for the 2016 presidential election, presumed Republican nominee Donald Trump spoke to several thousand attendees at an event today at the Colorado Convention Center in downtown Denver. During the hour-long speech, Trump hit upon the main points of his campaign policies,
Clinton believes the 12.5% federal royalty rate is lagging behind Hilary Clinton promised yesterday that she will raise the royalty rate the government charges companies that extract oil, gas and coal from onshore federal lands from 12.5% if she is elected president. Clinton’s campaign said she would ensure taxpayers are “getting a fair deal” by raising royalty rates, which are
