Why Is The UK Sending Gasoline To America As Prices Explode?
The UK shipped 1.85 million barrels of gasoline to the United States in May. UK gasoline prices are as much as $3 per gallon higher than in the U.S. Taxes Continue Reading
US pledges to maintain military capacity to defend Taiwan
US defence secretary Lloyd Austin accused China of stepping up coercive behaviour towards Taiwan as he stressed that Washington would maintain its military capacity to resist any force that threatened Continue Reading
U.S. Midwest may have summer power shortages for years
The power grid operator in the Central United States warned on Friday that problems it may experience keeping the lights on this summer could also occur during the summers of Continue Reading
Energy, policy experts float alternative approaches to energy sanctions on Russia
Current tactics risk $150/b oil, $6/gal gasoline Import tariffs, transfer caps among options Energy sanctions against Russia need to be reconfigured to better target the country’s revenues from oil and Continue Reading
U.S. Inflation Hit 8.6% in May
U.S. consumer inflation reached its highest level in more than four decades in May as surging energy and food costs pushed prices higher , with little indication of when the Continue Reading
President Biden Looks For Ways To Increase U.S. Refining Capacity
U.S. President Joe Biden continues to look for ways to bring down the high cost of gasoline—and the latest efforts have him taking a hard look at U.S. refinery capacity. Continue Reading
US drivers in for expensive summer as refiners grapple with high demand
US gasoline prices breach $5/gal level EIA forecasts maximum summer refinery utilization Russian diesel shortages have knock-on impact on gasoline With average US gasoline prices breaking the $5/gal level in Continue Reading
Gasoline Prices Reach $5 a Gallon Nationwide for the First Time
The average price of a gallon of regular unleaded gas in the U.S. hit $5 Friday night, and the rise in fuel costs is expected to persist throughout the busy summer driving Continue Reading
Food Prices to Keep Going Up, as Costs Surge
Some of the nation’s biggest food suppliers and restaurants, including Kraft Heinz Co. KHC 0.48%▲ and some McDonald ’s MCD -1.97%▼ Corp. franchisees, said they would continue to raise prices Continue Reading
Old Missouri Coal Plant Neared Retirement; Now It’s Needed to Avert Blackouts
An aging, polluting coal power plant in Missouri was headed for retirement this year. But because the region’s grid operator needs the plant’s electricity to reduce the risk of blackouts, Continue Reading
US oil producers ignore Biden’s rallying call to drill
As US motorists pay record prices at the pump, Joe Biden has pleaded with the country’s oil producers to open the taps and stem the surge. But those calls — Continue Reading
Biden Races to Expand Coalition Against Russia but Meets Resistance
Even before the start of the war in Ukraine, an international alliance to rally the world against a Russian invasion came together so quickly that President Biden later marveled at the “purpose Continue Reading
US energy envoy asks India to restrain Russian oil purchases
The Biden administration’s leading international energy adviser has called on India not to go “too far” as it increases imports of discounted Russian crude that has lost buyers in Europe. Continue Reading
Texas power use seen breaking records in heatwave through next week
Power demand in Texas will likely set fresh all-time highs every day from June 10-13 as economic growth boosts usage and homes and businesses keep their air conditioners cranked up Continue Reading
U.S. distillate stocks rise but supply remains tight
U.S. distillate inventories have started to climb seasonally – which should temper some of the bullishness about oil prices and refining margins in the short term. Stocks usually increase at Continue Reading
As Gas Prices Near $5 a Gallon, Record Fuel Costs Upend Businesses, U.S. Economy
As U.S. gasoline prices approach a record average of $5 a gallon, fuel costs are rippling through almost every corner of business, with signs emerging that the rising expenses are Continue Reading
Sweltering heat to bake Southwest before swallowing South, Southeast – The Washington Post
Temperatures are soaring as we head into the weekend beneath an intense and sprawling heat dome that will bring triple-digit heat to 45 million Americans in the coming week. Heat Continue Reading
The Future Is Bright For U.S. Natural Gas Producers
Russia’s invasion of Ukraine has changed the state of the global natural gas market forever. For U.S. natural gas producers, Europe’s desire to wean itself off natural gas has significantly Continue Reading
National Average Increases Alongside Gas Demand and Oil Prices
Since Monday, the national average for a gallon of regular gasoline has increased by 11 cents to $4.97. According to new data from the Energy Information Administration (EIA), total domestic Continue Reading
Equinor agrees to 15-year FOB deal to buy LNG supply from US exporter Cheniere
Highlights Deal covers 1.75 million mt/year of volumes High spot prices spurring long-term fixed-price deals Norway’s Equinor has agreed to a long-term FOB deal to buy 1.75 million mt/year of Continue Reading
Biden’s Trip To Saudi Arabia Won’t Solve The Oil Market’s Problems
Some observers expressed hope that a trip by President Biden to Saudi Arabia could spark more production and bring prices down. In reality, there is no quick fix to the Continue Reading
Explosion hits Freeport LNG plant, U.S. natgas prices plunge
A explosion and fire on Wednesday hit the massive Freeport LNG liquefied natural gas plant on the Texas Gulf Coast, prompting an evacuation of nearby beaches and sending U.S. natural Continue Reading
Texas power use to keep breaking records in this week’s heatwave
Power demand in Texas broke the June record on Monday and Tuesday and will keep rising this week until it tops the all-time high as economic growth boosts usage and Continue Reading
Surging gas prices leave drivers stranded with wallets on ‘empty’
Sonny Alaniz was headed home after midnight when his ATV lurched to a stop on a rural Texas road, the gas tank undeniably drained. The nursing student and his seven Continue Reading
Oil, gas companies underreported methane leaks, new study shows
Big oil and gas companies have internal data showing that their methane emissions in the vast Permian Basin “are likely significantly higher than official data” reported to the Environmental Protection Continue Reading
Summary of Weekly Petroleum Data for the week ending June 3, 2022
U.S. crude oil refinery inputs averaged 16.4 million barrels per day during the week ending June 3, 2022 which was 355,000 barrels per day more than the previous week’s average. Continue Reading
EIA Reports Small Crude Build, Gasoline Draw
Crude oil prices moved lower today after the Energy Information Administration reported a crude oil inventory build of 2 million barrels for the week to June 3. This compared with Continue Reading
Pipelines unclogged, but Canadian crude now faces U.S. Gulf Coast glut
After long being deeply discounted for years because of a lack of pipelines, Canadian heavy crude is finally trading like a “North American” grade, moving in tandem with U.S. sour Continue Reading
US envoy expected to visit Beirut next week over Israel gas dispute
A U.S. mediator will visit Beirut next week to discuss a dispute over a maritime border with Israel, Lebanese Parliament Speaker Nabih Berri said on Tuesday, according to a parliament Continue Reading
The US Is Now Sending the Bulk of Its Export Gas to Europe
Ukraine in Talks to Purchase US LNG, Naftogaz CEO Says Europe has dethroned Asia as the biggest destination for US liquefied natural gas as the energy-starved region seeks to slash Continue Reading
Wildfires in US West Match Climate Projections ‘Eerily’ Well
The largest wildfires in New Mexico’s history belong to the same troubling increase in conflagrations, exacerbated by drought and rising temperatures, that have burned vast areas of the western United Continue Reading
As the Great Salt Lake Dries Up, Utah Faces An ‘Environmental Nuclear Bomb’
If the Great Salt Lake, which has already shrunk by two-thirds, continues to dry up, here’s what’s in store: The lake’s flies and brine shrimp would die off — scientists Continue Reading
‘Extreme’ heat to bake Texas, Southwest with highs topping 110 degrees
Temperatures are set to soar in Texas and the Desert Southwest this week, with readings topping 110 degrees and an escalating danger of heat-related illnesses. The National Weather Service is Continue Reading
Short-Term Energy Outlook
Forecast Highlights Global liquid fuels The June Short-Term Energy Outlook (STEO) is subject to heightened levels of uncertainty resulting from a variety of factors, including Russia’s full-scale invasion of Ukraine. Global macroeconomic Continue Reading
Premature Closure Of Houston Refinery Could Worsen The Fuel Crunch
U.S. refining capacity could take a hit from an earlier than planned closure of a major refinery in Houston, which could worsen the refining and fuel crunch in the country. Continue Reading
U.S. Gasoline Prices Jump $0.30 In A Week To Fresh Record Of $4.92
U.S. gasoline prices continue to surge, jumping by $0.30 a gallon in just one week to a new national average all-time high of $4.919 on Tuesday. Diesel prices also set Continue Reading
Oil, gasoline prices to pare gains but remain high through 2022, 2023: EIA
Geopolitical uncertainty and the ongoing impact of the pandemic led to increased oil price volatility and contributed to a more than $4/b rise in the US Energy Information Administration’s 2022 Continue Reading
U.S. power use to rise in 2022 as economy keeps growing -EIA
U.S. power consumption was on track to rise to record highs in 2022 and 2023 as the economy grows, the U.S. Energy Information Administration (EIA) said in its Short Term Continue Reading
U.S., Europeans in ‘extremely active’ talks to limit Russian revenues from oil-
The United States is involved in “extremely active” discussions with European countries aimed at limiting the revenues Russia can generate by selling oil, U.S. Treasury Secretary Janet Yellen said on Continue Reading
Americans split on nuclear energy as safety worries linger – Reuters/Ipsos poll
Just under half of Americans support nuclear power to generate electricity, a waning industry the Biden administration has been trying to revitalize with billions of dollars in public spending as Continue Reading
Forecast heatwave for desert Southwest promises surge in US gas, power prices
Highlights 70%-80% risk for above-average temperatures Gas prices could top $10/MMBtu by June 10-11 SP-15 on-peak bal-week offered at $150/MWh Natural gas and power prices across the desert US Southwest Continue Reading
Russia Sanctions U.S. Energy Secretary
The Russian Foreign Ministry has placed sanctions on U.S. Energy Secretary Jennifer Granholm along with 60 other U.S. citizens and top officials, Interfax news agency reports. On Monday, the Russian Continue Reading
Exclusive: Biden to waive tariffs for 24 months on solar panels hit by probe
President Joe Biden will declare a 24-month tariff exemption on Monday for solar panels from four Southeast Asian nations after an investigation froze imports and stalled projects in the United Continue Reading
Texas power use to hit record high on economic growth, hot weather
Power demand in Texas is set to break the all-time record this week, far ahead of the hottest days of summer, testing of the resilience of the state’s power grid Continue Reading
Biden Plans Solar Manufacturing Push to End Project Slowdown
A solar farm under construction in Portage, Pennsylvania. Photographer: Justin Merriman/Bloomberg President Joe Biden will take executive action to boost the US solar sector, seeking to revive clean energy projects Continue Reading
Biden Has ‘Only Bad Options’ for Bringing Down Oil Prices
When President Biden meets Crown Prince Mohammed bin Salman in Saudi Arabia, he will be following in the footsteps of presidents like Jimmy Carter, who flew to Tehran in 1977 Continue Reading
High California Gas Prices Rattle Democrats Ahead of Midterms
Orange County, Calif., symbolized Republican struggles in America’s diverse and highly educated suburbs during Donald J. Trump’s presidency, as a backlash to Mr. Trump transformed center-right strongholds into increasingly Democratic territory. But at a Continue Reading
Chevron CEO Says No New Refineries In U.S—Ever
Chevron CEO Mike Wirth’s view of U.S. refineries is that there will never be another new refinery building in the United States. High prices at the pump have triggered a Continue Reading
There’s No Immediate Cure For Sky-High Gasoline Prices
U.S. gasoline prices continue to set new record-highs day after day. Everything that the Biden Administration has done thus far has failed to curb rising prices. Experts believe that high Continue Reading
For Truck Drivers Across the U.S., Major Change Is Approaching Fast
The Petro Travel Center on Interstate 10 in Ontario, Calif., is one of scores across the country. At the front of the building are the things road trippers see when Continue Reading