Clouds from Hurricane Harvey are seen in the background as smoke rises from a burn off at an oil refinery Historically, the Atlantic hurricanes have prompted U.S. oil refiners to Continue Reading
Power plant developers and operators plan to install more than 6 gigawatts of offshore wind capacity at sites mostly along the U.S. eastern seaboard over the next seven years, the Continue Reading
US Jobless Claims Fall, Consumer Spending Softens An influx of data showing softer consumer spending, sagging sentiment and subdued manufacturing suggest a US economy with a more fragile foundation, prompting Continue Reading
Corn is again the top US crop after soaring grain prices motivated farmers to shrug off weather woes and high fertilizer costs to plant more than expected while cutting back Continue Reading
The Supreme Court ruling Thursday that curtailed the Environmental Protection Agency’s flexibility to curb power-plant emissions on a systematic basis is setting the stage for a piecemeal approach to the Continue Reading
The waiting list for General Motors Co.’s GM -5.05%▼ new GMC Hummer electric pickup truck and related SUV model recently topped 77,000 prospective buyers. Most are likely in for a long wait. GM’s renovated Detroit factory, Continue Reading
One by one, the tools available to President Biden to fight climate change are being stripped away. After a Supreme Court decision on Thursday, the Environmental Protection Agency will have less authority Continue Reading
Supply-chain kinks continued to suppress vehicle inventory and sales in the first half of the year, exacerbating a seller’s market that has pushed new-car prices to record highs. Sales of Continue Reading
Oil prices fell on Wednesday after a report was released by the EIA showing an uncharacteristic slowdown in gasoline demand. Despite this demand destruction, it is unlikely that high oil Continue Reading
For the first time in history, U.S. LNG overtakes Russian piped gas in EU. IEA: The drop in Russian supply calls for efforts to reduce EU demand to prepare for Continue Reading
The reactor building of the Bushehr nuclear power plant in southern Iran. Indirect talks between Iran and the U.S. on reviving the 2015 nuclear deal ended without a breakthrough on Continue Reading
U.S. crude stocks fell in the latest week but fuel inventories rose, the government said on Wednesday,as refiners picked up activity, while industry production hit its highest in more than Continue Reading
Executives at electric car marker Tesla, drug maker Novartis and retailer Bed Bath and Beyond are cutting spending or jobs while others are shelving projects or deals as inflation rages Continue Reading
‘More Pain at the Pump to Come,’ Stephen Schork Says Global road fuel demand will peak in five years though it will be decades before shifts in consumption reshape transportation’s Continue Reading
The Biden administration’s first sale of oil and gas drilling rights on federal land garnered thin industry interest on Wednesday while environmental groups filed two separate lawsuits seeking to invalidate Continue Reading
Household spending may be running out of momentum, economists say, as Americans face the highest inflation in four decades and incomes that haven’t kept up with price increases. U.S. consumers Continue Reading
Oil prices climbed higher today after the U.S. Energy Information Administration reported a crude oil inventory draw of 2.8 million barrels for the week to June 24. A day earlier, Continue Reading
The Treasury Department on Wednesday announced the delivery of $1.3 billion in economic aid to Ukraine, as the United States seeks to help the beleaguered nation respond to the enormous Continue Reading
Highlights Q2 power burn trends at record-high 30.9 Bcf/d US coal exports in H1 2022 at highest since 2018 CAPP thermal coal prices hit record-high $175/st Rising US coal exports Continue Reading
U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane Continue Reading
U.S. authorities have stopped a ship traveling from Russia to Louisiana with a cargo of fuel products, say people familiar with the matter. The Daytona tanker is owned by Greek Continue Reading
The US will increase its military deployments in Europe as part of a scaling up of Nato defenses, President Joe Biden said, in response to Russia’s invasion of Ukraine. Biden Continue Reading
– U.S. crude inventory in the Strategic Petroleum Reserve (SPR) fell by 6.9 million barrels in the week to June 24, according to data from the Department of Energy. Stockpiles Continue Reading
Pain at the gas pump goes beyond the high prices : Gas stations are also putting bigger holds of up to $175 on customers’ cards when they swipe. When drivers Continue Reading
Oil exports from the US Gulf Coast are set to hit an all-time high of 3.3 million barrels per day (bpd) in the second quarter of 2022, as refining capacity Continue Reading
A drop in the global price of oil helped the national average for a gallon of gas to fall for a second week to land at $4.89. Economic fears of Continue Reading
Jobs in the U.S. energy business rose 4% last year, at a faster clip than the country’s overall private sector, led by work in low-carbon vehicles, while positions in fossil Continue Reading
– U.S. farmers have cut back on using common weedkillers, hunted for substitutes to popular fungicides and changed planting plans over persistent shortages of agricultural chemicals that threaten to trim Continue Reading
Exports of crude oil from the U.S. Gulf Coast could hit a record 3.3 million barrels per day (bpd) this quarter, analysts said on Monday, as Europe chases U.S. crude Continue Reading
Chinese imports of LNG from the U.S. plunged by 95% between February and April. Most U.S. LNG spot cargoes were headed to Europe at the beginning of 2022. Russia could Continue Reading
A guest post by Ovi Each month the EIA produces four reports which project oil output for the US and the World. The Short Term Energy Outlook (STEO) forecasts oil Continue Reading
Since Monday, the national average for a gallon of regular gasoline has decreased by four cents to $4.94. The Energy Information Administration will not release gasoline demand/supply and domestic oil Continue Reading
Cheniere, the largest U.S. exporter of liquefied natural gas, boasts that it’s helping to “improve local air quality in communities globally” because the cleaner burning fuel it ships displaces coal Continue Reading
IMF Managing Director Kristalina Georgieva Photographer: Andrew Harrer/Bloomberg The US economy is likely to slow in 2022 and 2023 but will “narrowly avoid a recession” as the Federal Reserve implements Continue Reading
Granholm led an in-person meeting with CEOs and executives of seven major U.S. oil companies. The U.S. Department of Energy (DOE) confirmed Thursday that Secretary of Energy Jennifer M. Granholm Continue Reading
The U.S. and European economies slowed sharply in June as surging prices of energy and food weakened demand for other goods and services, business surveys showed, increasing the risk of Continue Reading
The United States will provide an additional $450 million in security assistance to Ukraine, including more long-range rocket systems, U.S. officials said on Thursday. Moscow’s forces are advancing in Ukraine’s Continue Reading
President Joe Biden’s request that Congress pass a three-month suspension of the federal gasoline tax “is dead on arrival,” U.S. Senator John Thune, the second-ranking Republican in the Senate, said Continue Reading
The U.S. economy faces elevated risks of a recession over the next one to two years due to rising imbalances in markets for goods and services, including labor, according to Continue Reading
Jay Powell said a US recession is “certainly a possibility” and warned that avoiding a downturn now largely depends on factors outside the Federal Reserve’s control. In testimony to the Continue Reading
The American Petroleum Institute (API) reported a build this week for crude oil of 5.607 million barrels, while analysts predicted a draw of 1.433 million barrels. It is the first Continue Reading
Top U.S. liquefied natural gas (LNG) exporter Cheniere Energy Inc (LNG.A) on Wednesday gave the financial go-ahead to an $8 billion expansion of its Corpus Christi, Texas, plant and signaled Continue Reading
Beijing’s caution in challenging U.S. supremacy around the globe might be dissipating. Practical ramifications for the global oil sector from China’s geopolitical shift would be enormous. President Xi has signed Continue Reading
Shipping containers are loaded onto trucks at the Port of Boston in Massachusetts. Supply constraints, exacerbated by Russia’s war in Ukraine this year, account for about half of the surge Continue Reading
Operable refining capacity in the United States hit a nearly decade low in 2022, the EIA’s latest Refining Capacity Report showed on Tuesday. U.S. refining capacity fell this year to Continue Reading
U.S. gasoline demand increased by 5.5 percent on Sunday compared to the previous Sunday and was 11.4 percent higher than the average U.S. demand of the past four Sundays, according Continue Reading
American drivers are starting to buy less gasoline as they feel the economic burden of record prices that continue to hover near $5 a gallon.In the first full week of June, gasoline sales at Continue Reading
U.S. President Joe Biden said on Monday that a decision on whether to pause a federal gasoline tax could come by the end of this week, as the United States Continue Reading
Mary Barra, General Motors Co.’s chief executive, spent weeks preparing for an onstage unveiling of the electric Chevrolet Silverado , GM’s big play in the fledgling market for battery-powered pickup Continue Reading
Spiking gas prices have weighed on motorists in every state this year, making daily life more expensive in myriad ways. But the burden has not been evenly distributed. Californians were Continue Reading
