Oil - Page 25

On Monday’s “CNN Newsroom,” Rep. John Garamendi (D-CA) called for “immediate” Congressional hearings in both the House and the Senate on the profitability of the oil industry because “There is clearly price gouging” by the oil industry, and stated while

Arab oil ministers agreed over the weekend that OPEC+ should keep to the production schedule set out three weeks ago.

Vice President Kamala Harris acknowledged Americans would face higher energy costs in the event of Russian President Vladimir Putin sending troops into the Ukraine, citing the punishing sanctions prepared for when it happened.

A combination of high taxes and constrained supply sees petrol at £1.48 a litre ($7.60 a U.S. gallon) for the first time.

Gasoline prices have surged higher as winter weather has enveloped much of the U.S. and escalating tensions with Russia have helped push up the price of oil. The price of Brent, the global benchmark fell by nearly half a percentage

Despite the pressure from climate change activists in the federal government and the private sector to cut back on drilling for oil, the price for fossil fuels is the highest since 2014.

Appearing Thursday on the Fox News Channel, oil trader and network contributor Phil Flynn warned that President Joe Biden’s energy policies and a potential conflict between Russian and Ukraine could lead to a national average gas price of $5 per gallon.

Hedge fund CEO Josh Young is forthright about how he profited on climate change activists’ hate for fossil fuels by investing in oil and gas.

Higher oil prices are closely associated with higher inflation.

United Arab Emirates (UAE) state media reported on Monday that three people were killed and six more injured when a fuel tanker exploded at a port in Abu Dhabi.

Saudi Aramco, the extremely wealthy national oil company of Saudi Arabia, on Wednesday announced the establishment of a “Non-Metallic Excellence and Innovation Center” (NEXCEL) in Beijing to promote the use of alternatives to metal in construction projects.

Joe Biden wasted no time after being sworn in as president in destroying the U.S energy renaissance ushered in during Donald Trump’s presidency which made the country energy independent and a net annual petroleum exporter for the first time since at least 1949.

Sen. Joe Manchin (D-WV) on Thursday reportedly blocked President Biden’s plan to terminate all future offshore oil and gas drilling in Atlantic, Pacific, and Gulf of Mexico waters.

Russian President Vladimir Putin and Indian Prime Minister Narendra Modi met on Monday in New Delhi to solidify over two dozen trade and arms deals between their respective countries, including a pledge to boost annual bilateral trade to $30 billion by 2025.

Stocks bounce as signs emerge that the Omicron variant may lead to milder illness than feared.

The Biden-Harris administration issued a report Friday to increase the price of oil leasing fees on federal lands in the United States by 50 percent—even while accusing oil companies of artificially increasing prices through illegal and anticompetitive actions.

The Biden administration will reportedly recommend increasing red tape and fees on the United States’s oil industry Friday.

Biden tries to pass the buck for inflation to gas stations. The data do not support his claim.

Vice President Kamala Harris’s hypocrisy was on display Tuesday as President Joe Biden raided oil reserves despite her having slammed then-President Donald Trump in 2020 for refilling them.

Critics say that Biden’s release of oil from the Strategic Reserve is only a temporary fix and won’t reduce the ongoing rise of gas prices at the pump.

Energy secretary Jennifer Granholm admitted Tuesday she did not know how many barrels of oil the U.S. economy consumes per day. “I don’t have that number in front of me. I’m sorry.”

Oil prices rose above $82 a barrel on Tuesday morning after the Biden administration announced the U.S. and other nations would release tens of millions of barrels of oil from reserves in a ploy to lower prices.

Former President Donald Trump said Tuesday that President Joe Biden is raiding strategic oil reserves because he is “at the mercy of OPEC” to reduce gas prices for American consumers.

The White House announced Tuesday that President Joe Biden would release 50 million barrels of oil from the Strategic Petroleum Reserve.

Biden has asked the FTC to investigate potentially “illegal conduct” by the oil and gas industry for high fuel prices at the pump.

A federal judge on Monday issued a nationwide injunction on President Joe Biden’s executive order to halt oil and gas operations on all federal lands in the name of fighting so-called climate change.

Just days after President Joe Biden made promises on the international stage that the United States is on board to destroy the domestic fossil fuel industry, the largest auction of offshore drilling operations in history is taking place.

The South China Morning Post (SCMP) on Wednesday quoted a “person familiar with the matter” who said President Joe Biden asked Chinese President Xi Jinping to release China’s oil reserves, thus stabilizing the high oil prices that have been helping to drive Biden’s poll numbers down.

A cold winter would send natural gas prices up 46 percent and heating oil prices up 54 percent, according to the Department of Energy.

Saule Omarova, the Cornell law professor that President Joe Biden nominated to be the Comptroller of Currency, declared war on fossil fuels.

The president spoke about gas prices during an event at the Port of Baltimore to celebrate the passage of his $1.3 trillion infrastructure bill.

Senate Democrats on Monday begged President Joe Biden to lower seven-year high gas prices by releasing emergency oil reserves.

The Biden-Harris administration on Monday reportedly began weighing the closure of a Michigan oil pipeline while gas prices have tripled since 2020.

Texas Gov. Greg Abbott (R) denounced President Joe Biden’s Energy Secretary Jennifer Granholm after she said on Sunday that she hopes gas prices do not increase to $4 per gallon.

Since Day One President Joe Biden has made crippling the fossil fuel industry a priority, from shutting down the Keystone Pipeline — one of his first actions after taking office — to halting energy exploration on federal land.

Oil prices headed toward $85 a barrel Monday, indicating gasoline prices will likely keep climbing.