Russian Oil Is Too Cheap To Resist For China And India
In response to Putin’s aggression in Ukraine, many countries have introduced total bans on Russian crude. As a result, Russia has been forced to sell its oil at a heavy Continue Reading
Santos dispute with ConocoPhillips snags Alaska oil project, stake sale
Australia’s Santos Ltd (STO.AX) is locked in a dispute with ConocoPhillips (COP.N) over road access in Alaska, potentially holding up a $3 billion oil project, according to letters from both Continue Reading
Biden Embraces Oil as Ukraine War Overwhelms His Climate Agenda
President Joe Biden plans to release a million barrels of oil a day from U.S. reserves for six months. President Joe Biden delivered his strongest endorsement of oil on Thursday, Continue Reading
Biden Invokes Cold War Powers to Boost EV Battery Production
Biden Wants to Boost Metal and Mineral Production The Biden administration announced it will invoke Cold War powers to boost domestic production of materials for batteries needed to power electric Continue Reading
Drought-Struck California Wants to Pay Farmers to Cut Plantings
California, gripped entirely in drought, proposed a $2.9 billion plan to pay farmers to reduce some of their plantings in an effort to better manage water resources. The voluntary agreement Continue Reading
Car Sales Seen Sputtering as Supply-Chain Woes Hurt Production
Strong demand and tight inventories are leading drivers to snatch up vehicles as soon as they hit the lot. Auto makers are expected to report weak vehicle sales for the Continue Reading
Biden Mulls Lifting Ethanol Caps In A Bid To Lower Gasoline Prices
The U.S. Administration is mulling over whether to temporarily remove the summertime restriction on the sale of the higher-ethanol gasoline varieties in another policy attempt to lower high gasoline prices, Continue Reading
U.S. Crude Oil Production Rises For First Time In 10 Weeks
U.S. crude oil production has risen—albeit modestly—for the first time in ten weeks, the latest EIA data shows. Weekly U.S. field production of crude oil rose to 11.7 million barrels Continue Reading
USA Government Comments on Gulf of Mexico Lease Program
The U.S. Department of the Interior sent a statement after Rigzone asked if its five-year program for leasing in the Gulf of Mexico would lapse. The U.S. Department of the Continue Reading
Ukraine: Russians leaving Chernobyl after radiation exposure
Russian troops began leaving the Chernobyl nuclear plant after soldiers got “significant doses” of radiation from digging trenches at the highly contaminated site, Ukraine’s state power company said Thursday as Continue Reading