As Gas Prices Soar, Biden’s Climate Ambitions Sputter
A year after he entered the White House with a vow that fighting global warming would be a driving priority for his administration, President Biden finds his climate agenda is Continue Reading
Biden’s SPR Release Sends Oil Prices Below $100
The unprecedented decision by Biden to release 180 million barrels of oil from the country’s strategic petroleum reserve over the next six months has sent oil prices below $100. While Continue Reading
U.S. Oil Demand Has Been Vastly Overestimated
Weekly U.S. oil demand data by the Energy Information Administration has been significantly overestimated. The weekly demand estimates in March already showed that recent demand strength has been easing off. Continue Reading
CAISO sets wind peak record; solar curtailments rise on surge of wind generation
South Hub real-time prices dropped to minus $1.14/MWh Wind accounts for 30% of installed renewable capacity California ranks sixth for US utility-scale wind capacity The California Independent System Operator set 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
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
U.S. Sanctions Russian Tech Companies, Whole Sectors of Russian Economy
The U.S. on Thursday levied sanctions on nearly three dozen Russian companies and individuals that the Treasury Department said are helping Moscow evade the West’s economic pressure campaign and aiding Continue Reading