Ahead of elections, Biden announces steps to reduce gas prices in U.S.
2 years, 2 months ago

Ahead of elections, Biden announces steps to reduce gas prices in U.S.

The Hindu  

Ahead of the crucial mid-term polls, U.S. President Joe Biden has announced a slew of measures to lower gas prices, which have been hurting the middle class. Mr. Biden, in a major policy speech, reiterated that Russian President Vladimir Putin was responsible for the hike in energy prices in the U.S. “When the price of gas goes up, other expenses get cut. That's why I have been doing everything in my power to reduce gas prices since Putin's invasion of Ukraine caused these prices to spike and rattled international oil markets,” he said in a speech. Mr. Biden said the Department of Energy will release another 15 million barrels from the Strategic Petroleum Reserve, extending the previously announced release, through the month of December.

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History of this topic

OPEC Has Little Room to Revive Oil Supply, Iran Official Says
4 weeks, 1 day ago

OPEC Has Little Room to Revive Oil Supply, Iran Official Says

Live Mint  

-- OPEC has little scope to reverse its oil production cuts, which have triggered a wave of rival supply from the US shale industry, Iran’s representative to the group said. “This strategy in support of prices has effectively encouraged higher supply outside the group, particularly on the part of the US,” Iranian OPEC governor Afshin Javan said of the curbs …

Trump plans to boost gas exports & oil drilling in 2nd term, say sources
4 weeks, 1 day ago

Trump plans to boost gas exports & oil drilling in 2nd term, say sources

Firstpost  

Donald Trump’s transition team is putting together a wide-ranging energy package to roll out within days of his taking office that would approve export permits for new liquefied natural gas projects and increase oil drilling off the US coast and on federal lands, according to two sources familiar with the plans. An early priority would be lifting President Joe Biden’s …

Trump’s pick for fracker-in-chief will have a tough time pumping a lot more oil
1 month, 1 week ago

Trump’s pick for fracker-in-chief will have a tough time pumping a lot more oil

CNN  

CNN — President-elect Donald Trump may find the road to cheaper gas prices is a little rocky. Andy Cross/The Denver Post/Getty Images The United States produces more than 13.4 million barrels of oil each day and oil production is projected to increase to an estimated 13.6 million by the end of 2025 — the most oil produced by any country …

Trump faces 'fundamental obstacle' to one of his biggest promises: report
1 month, 1 week ago

Trump faces 'fundamental obstacle' to one of his biggest promises: report

Raw Story  

President-elect Donald Trump has vowed to vastly expand oil production in the United States upon taking office next year, despite the fact that domestic oil production already hit a record high under President Joe Biden. In fact, Semafor reports that the current high rate of oil production is a "fundamental obstacle" to Trump meeting his promise. ExxonMobil CEO Darren Woods …

Trump’s victory promises to shake up U.S. energy and climate policy, analysts and activists say
1 month, 2 weeks ago

Trump’s victory promises to shake up U.S. energy and climate policy, analysts and activists say

NPR  

Trump’s victory promises to shake up U.S. energy and climate policy, analysts and activists say toggle caption Evan Vucci/AP/AP During a victory speech early Wednesday, Donald Trump boasted of the country’s vast reserves of oil and natural gas. “But there is a legitimate vein of opportunism, of entrepreneurial spirit, of new jobs, of new economics, of business people, of entrepreneurs, …

Trump’s ‘meme-level’ energy attacks aren’t landing, fossil fuel supporters concede
3 months, 1 week ago

Trump’s ‘meme-level’ energy attacks aren’t landing, fossil fuel supporters concede

Politico  

“It’s almost incoherent,” Kochel said. He was just all over the place.” An oil industry lawyer agreed, saying Trump’s discussion of energy was “meme level.” “A more coherent and disciplined messenger would have easy pickings on showing that the Biden administration has consistently been hostile to protecting — let alone promoting — domestic oil and gas production,” said the person, …

Harris and Trump offer starkly different visions on climate change and energy
3 months, 3 weeks ago

Harris and Trump offer starkly different visions on climate change and energy

Associated Press  

WASHINGTON — As the Earth sizzled through a summer with four of the hottest days ever measured, Vice President Kamala Harris and former President Donald Trump have starkly different visions on how to address a changing climate while ensuring a reliable energy supply. During her acceptance speech at the Democratic National Convention, Harris briefly mentioned climate change as she outlined …

Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag
6 months, 3 weeks ago

Oil producers led by Saudis face a decision on whether to extend production cuts as oil prices lag

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia and allied oil …

Oil producers led by Saudis extended supply cuts amid slack prices
6 months, 3 weeks ago

Oil producers led by Saudis extended supply cuts amid slack prices

Associated Press  

FRANKFURT, Germany — Saudi Arabia and allied oil producing countries on Sunday extended output cuts through next year, a move aimed at supporting slack prices that haven’t risen even amid turmoil in the Middle East and the start of the summer travel season. The OPEC+ alliance, made up of members of the producers cartel and allied countries including Russia, extended …

Opec cartel to extend cuts to oil output in bid to prop up prices
6 months, 3 weeks ago

Opec cartel to extend cuts to oil output in bid to prop up prices

The Telegraph  

Saudi Arabia and Russia have led members of the Opec cartel in extending deep production cuts to oil output into 2025, in a fresh bid to prop up prices in the face of US competition. The move will put upward pressure on oil prices, with Brent crude currently trading at around $81 per barrel, at a time when unexpectedly high …

Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump
7 months ago

Biden releasing 1 million barrels of gasoline from Northeast reserve in bid to lower prices at pump

Associated Press  

WASHINGTON — The Biden administration said Tuesday it is releasing 1 million barrels of gasoline from a Northeast reserve established after Superstorm Sandy in a bid to lower prices at the pump this summer. The move, which the department said is intended to help “lower costs for American families and consumers,″ follows a mandate from Congress to sell off the …

Opinion: Whatever Big Oil wants, Big Oil gets. As long as it bankrolls Trump
7 months ago

Opinion: Whatever Big Oil wants, Big Oil gets. As long as it bankrolls Trump

LA Times  

Then-President Trump points at Harold Hamm, head of North Dakota’s largest oil company, Continental Resources, at an event in 2019. What better sign could there be that we’re drowning in political outrage, that we’re inured to it, than this: A national newspaper scooped this month that Donald Trump gathered about two dozen oil industry executives for a chopped steak dinner …

Biden moves to limit oil drilling and mineral mining in Alaska, in latest win for greens
8 months ago

Biden moves to limit oil drilling and mineral mining in Alaska, in latest win for greens

Politico  

Biden said in a statement he was “proud that my Administration is taking action to conserve more than 13 million acres in the Western Arctic and to honor the culture, history, and enduring wisdom of Alaska Natives who have lived on and stewarded these lands since time immemorial.” But Murkowski and other GOP senators held a press conference Thursday to …

Biden Plans Sweeping Effort to Block Arctic Oil Drilling
8 months, 1 week ago

Biden Plans Sweeping Effort to Block Arctic Oil Drilling

Hindustan Times  

The US set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago. Company executives and Alaska lawmakers have increasingly raised alarm over the plan, saying it could thwart oil and gas development across much of the reserve, even on existing leases. “It would openly defy federal law while ignoring rising energy …

Dimon Calls Push to Stop All Oil and Gas Enormously Naïve
8 months, 2 weeks ago

Dimon Calls Push to Stop All Oil and Gas Enormously Naïve

Live Mint  

-- Jamie Dimon said US delays of liquefied natural gas projects were done for political reasons to pacify those who believe oil and gas projects should simply be stopped — a position he calls “wrong” and “enormously naïve.” The head of JPMorgan Chase & Co. made the comments Monday in his annual shareholder letter, in which he touted replacing coal …

Biden’s biggest weakness and biggest strength going into 2024
11 months, 3 weeks ago

Biden’s biggest weakness and biggest strength going into 2024

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. To boot, the survey showed Mr Biden losing Hispanic voters and young people against …

Why America is jittery ahead of Presidential polls
11 months, 3 weeks ago

Why America is jittery ahead of Presidential polls

Live Mint  

If one event dominates the coming year, it will almost certainly be the US presidential election. Moreover, some turncoat Democrats have loudly echoed Republicans in pushing the idea that inflation was due to the Biden administration’s spending on the pandemic recovery. That outcome alone would have substantially enhanced Biden’s prospects, had he been spared the Middle East turmoil. Looking ahead, …

Meet America’s Newest Oil Trader Extraordinaire: Joe Biden
11 months, 3 weeks ago

Meet America’s Newest Oil Trader Extraordinaire: Joe Biden

Live Mint  

President Biden’s unprecedented release of oil from America’s petroleum reserves in 2022 turned the White House into an unusually active player in the volatile crude market. The flood of emergency supplies helped arrest surging oil prices after Russia invaded Ukraine, and pulled billions of dollars into the Energy Department’s coffers in the process. The Energy Department says it has already …

Despite climate goals US oil boom shows, ‘World wants for more energy, not less’
1 year ago

Despite climate goals US oil boom shows, ‘World wants for more energy, not less’

Hindustan Times  

The world may be pushing for renewable energy and climate change action, but guess what? - Bob McNally, President of Rapidan Energy Group Surpassing Trump-era records Last month, weekly US oil production hit 13.2 million barrels per day, just edging past the previous record set during the Trump era. Despite geopolitical tensions affecting energy prices globally, America's oil is trading …

Some OPEC+ members will cut the oil that they send to the world to try to boost prices
1 year ago

Some OPEC+ members will cut the oil that they send to the world to try to boost prices

Associated Press  

LONDON — The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Thursday, expanding some output cuts into next year and bringing up-and-coming oil supplier Brazil into the fold. But it’s bad news for OPEC+ countries whose oil income bolsters their economies and who have faced setbacks …

Biden is gaslighting us about natural gas exports
1 year, 1 month ago

Biden is gaslighting us about natural gas exports

Salon  

Imagine you woke up one morning to find out that the government approved the construction of a giant “natural” gas processing facility in your backyard. That kind of gaslighting is the current reality for communities in Southern Louisiana, as President Biden’s Department of Energy considers granting a license to build a new “liquified natural gas” export terminal called Calcasieu Pass …

US oil production hits all-time high, conflicting with efforts to cut heat-trapping pollution
1 year, 2 months ago

US oil production hits all-time high, conflicting with efforts to cut heat-trapping pollution

Associated Press  

United States domestic oil production hit an all-time high last week, contrasting with efforts to slice heat-trapping carbon emissions by the Biden administration and world leaders. And it conflicts with oft-repeated Republican talking points of a Biden “war on American energy.” The U.S. Department of Energy’s Energy Information Administration reported that American oil production in the first week of October …

US oil production hits all-time high, conflicting with efforts to cut heat-trapping pollution
1 year, 2 months ago

US oil production hits all-time high, conflicting with efforts to cut heat-trapping pollution

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Saudi to likely roll over output cut into Oct: What lies ahead for oil prices?
1 year, 3 months ago

Saudi to likely roll over output cut into Oct: What lies ahead for oil prices?

Live Mint  

Saudi Arabia will likely roll over the voluntary oil cut of 1 million barrels per day for a third consecutive month into October amid uncertainty about supplies and as the kingdom targets pulling down global inventories further, according to analysts quoted in a report by news agency Reuters. Brent oil prices in July were up 14 per cent on the …

Biden delays plans to restock nation’s emergency oil reserve
1 year, 4 months ago

Biden delays plans to restock nation’s emergency oil reserve

Associated Press  

WASHINGTON — The Biden administration is delaying plans to restock the nation’s emergency oil reserve amid a price hike that has pushed oil above $80 a barrel. The administration said it remains committed to refilling the reserve, which President Joe Biden significantly drained last year in a bid to stop gasoline prices from rising amid production cuts by OPEC and …

Biden delays plans to restock nation’s emergency oil reserve
1 year, 4 months ago

Biden delays plans to restock nation’s emergency oil reserve

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Biden administration is …

Oil Prices Slide on Economic Concerns Despite Saudi Output Reduction
1 year, 6 months ago

Oil Prices Slide on Economic Concerns Despite Saudi Output Reduction

News 18  

Oil prices eased on Tuesday as worries sluggish global economic growth could reduce energy demand outweighed Saudi Arabia’s pledge to deepen output cuts. Both crude benchmarks climbed higher for a third day in a row on Monday after Saudi Arabia, the world’s top exporter, said over the weekend that its output would drop by 1 million barrels per day to …

Oil Prices Today: Oil sinks on US inflation anxiety, sudden rise in inventories
1 year, 7 months ago

Oil Prices Today: Oil sinks on US inflation anxiety, sudden rise in inventories

Live Mint  

Oil prices dropped on May 10, ending a three-day rally as an unexpected rise in US oil inventories sparked demand concerns and markets saw cautious trading as investors' anxiety as they await inflation data. Surprise increase to US crude oil inventories US crude inventories rose by about 3.6 million barrels in the week ended May 5 while petrol stockpiles rose …

Oil producers’ cuts could boost gasoline prices, help Russia
1 year, 8 months ago

Oil producers’ cuts could boost gasoline prices, help Russia

Associated Press  

FRANKFURT, Germany — Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. The decision by oil producers, many of them in the OPEC oil cartel, to cut production by more than 1 million barrels a day comes after prices for international benchmark crude slumped amid a slowing global economy that needs less fuel for …

Oil producers' cuts could boost gasoline prices, help Russia
1 year, 8 months ago

Oil producers' cuts could boost gasoline prices, help Russia

Firstpost  

Russia is joining in by extending its own cuts for the rest of the year. In theory, less oil flowing to refineries should mean higher gasoline prices for drivers and could boost the inflation hitting the US and Europe Major oil-producing countries led by Saudi Arabia said they’re cutting supplies of crude — again. In theory, less oil flowing to …

Can TikTokkers sway Biden on oil drilling? The #StopWillow campaign, explained
1 year, 9 months ago

Can TikTokkers sway Biden on oil drilling? The #StopWillow campaign, explained

NPR  

Can TikTokkers sway Biden on oil drilling? The #StopWillow campaign, explained Enlarge this image toggle caption Joe Raedle/Getty Images Joe Raedle/Getty Images Any day now, the Biden administration is expected to decide whether to approve a controversial oil drilling project that's become a galvanizing issue for Gen Zers passionate about climate change. The Biden administration says boosting oil production could …

US panel accuses ‘Big Oil’ of disinformation over climate plans
2 years ago

US panel accuses ‘Big Oil’ of disinformation over climate plans

Al Jazeera  

House Oversight Committee says oil companies are ‘lying’ about promises to reduce greenhouse gas emissions. “It’s time for the fossil fuel industry to stop lying to the American people and finally take serious steps to reduce emissions and address the global climate crisis they helped create.” The panel said a “key part” of the oil companies’ climate plans has been …

Biden paints oil firms as war profiteers, talks windfall tax
2 years, 1 month ago

Biden paints oil firms as war profiteers, talks windfall tax

Associated Press  

WASHINGTON — President Joe Biden on Monday accused oil companies of “war profiteering” as he raised the possibility of imposing a windfall tax on energy companies if they don’t boost domestic production. Biden has been critical of energy companies profits since at least June, when he complained publicly that “Exxon made more money than God this year.” Biden’s threat of …

Biden says oil company profits are 'outrageous' and a 'windfall' from the Ukraine War
2 years, 1 month ago

Biden says oil company profits are 'outrageous' and a 'windfall' from the Ukraine War

Daily Mail  

President Joe Biden railed against Big Oil's exorbitant profits as he called on Congress to impose a 'windfall tax' on energy companies in a speech Monday. President Joe Biden railed against Big Oil's exorbitant profits as he called on Congress to impose a 'windfall tax' on energy companies in a speech Monday Last week Exxon Mobil broke records with its …

Facing tough midterms, Biden releasing oil from US reserve
2 years, 2 months ago

Facing tough midterms, Biden releasing oil from US reserve

Associated Press  

WASHINGTON — High gasoline prices are the problem that President Joe Biden keeps trying to fix — and roughly a year’s worth of extraordinary efforts have done little to significantly lower costs. The reserve now contains roughly 400 million barrels of oil, a level that opponents say has more to do with Biden’s attempts to help his fellow Democrats than …

Biden to release 15M barrels from oil reserve, more possible
2 years, 2 months ago

Biden to release 15M barrels from oil reserve, more possible

Associated Press  

WASHINGTON — President Joe Biden will announce the release of 15 million barrels of oil from the U.S. strategic reserve Wednesday as part of a response to recent production cuts announced by OPEC+ nations, and he will say more drawdowns are possible this winter, as his administration rushes to be seen as pulling out all the stops ahead of next …

U.S. terms OPEC+ decision on oil production a ‘mistake’, says it has favoured Russia
2 years, 2 months ago

U.S. terms OPEC+ decision on oil production a ‘mistake’, says it has favoured Russia

The Hindu  

The move of the OPEC and its allies to cut oil production is a “mistake” and a “short-sighted” decision that has favoured the Russians and the U.S. is going to re-evaluate its ties with Saudi Arabia, the White House has said. Members of the Organisation of the Petroleum Exporting Countries and their Russia-led allies earlier this month agreed on a …

Biden releasing 15 million barrels of oil from strategic reserve
2 years, 2 months ago

Biden releasing 15 million barrels of oil from strategic reserve

Al Jazeera  

Just weeks before US midterms, move completes a previously announced release of 180 million barrels amid war in Ukraine. US President Joe Biden has announced the release of 15 million barrels of oil from the United States strategic reserve, a move that follows contentious OPEC+ production cuts that have drawn scorn in Washington in advance of next month’s midterm elections. …

Biden To Release 15 Million Barrels From Oil Reserve In Effort To Reduce Gas Prices
2 years, 2 months ago

Biden To Release 15 Million Barrels From Oil Reserve In Effort To Reduce Gas Prices

Huff Post  

LOADING ERROR LOADING WASHINGTON — President Joe Biden will announce the release of 15 million barrels of oil from the U.S. strategic reserve Wednesday as part of a response to recent production cuts announced by OPEC+ nations, and he will say more oil sales are possible this winter, as his administration rushes to be seen as pulling out all the …

White House 'plans to release another 15 MILLION barrels of oil' from the US's emergency stockpile
2 years, 2 months ago

White House 'plans to release another 15 MILLION barrels of oil' from the US's emergency stockpile

Daily Mail  

Joe Biden is planning to release up to 15million barrels of oil from the US's emergency oil reserves as he tries to stem soaring gasoline prices. President Biden is planning to release up to 15million barrels of oil from the United States' emergency oil reserves as he tries to stem soaring gasoline prices The oil release would be the latest …

US' Joe Biden vows 'consequences' for Saudi Arabia over cuts in oil output
2 years, 2 months ago

US' Joe Biden vows 'consequences' for Saudi Arabia over cuts in oil output

Firstpost  

Biden endured criticism at home by travelling to Saudi Arabia in June and fist-bumping its de facto ruler, Crown Prince Mohammed bin Salman, despite earlier vowing to make him a pariah over human rights Washington, United States: Joe Biden has vowed consequences for Saudi Arabia over its explosive slash in oil output but, like previous US presidents irked by the …

Joe Biden has ‘no plans’ to meet Saudi Arabia’s MBS at G20 summit
2 years, 2 months ago

Joe Biden has ‘no plans’ to meet Saudi Arabia’s MBS at G20 summit

Al Jazeera  

Saudi Arabia’s defence minister, meanwhile, said he is ‘astonished’ by accusations the kingdom is ‘standing with Russia in its war with Ukraine’. United States President Joe Biden has “no plans” to meet with Saudi Crown Prince Mohammed bin Salman at next month’s G20 summit in Indonesia, a senior US official says, as tensions over the OPEC+ decision to cut oil …

Joe Biden vows ‘consequences’ for Saudi Arabia after OPEC snub
2 years, 2 months ago

Joe Biden vows ‘consequences’ for Saudi Arabia after OPEC snub

The Hindu  

U.S. President Joe Biden promised "consequences" for Saudi Arabia after a Riyadh-led coalition of oil-producing nations sided with Russia to slash output. The OPEC move was widely seen as a diplomatic slap in the face, since Mr. Biden traveled to Saudi Arabia in July and met with Crown Prince Mohammed bin Salman, despite vowing to make the kingdom an international …

‘Balanced, thoughtful’: Russia praises OPEC for production cut
2 years, 2 months ago

‘Balanced, thoughtful’: Russia praises OPEC for production cut

Al Jazeera  

US fears a spike in gasoline prices ahead of the midterm elections after OPEC+ decision to cut oil production by two million barrels per day starting in November. Russia praised OPEC+ on Sunday for agreeing to sharply cut oil production and fight what it called the “mayhem” sown by the United States in global energy markets. The 13-nation OPEC+ group’s …

OPEC+ makes big oil cut to boost prices; pump costs may rise
2 years, 2 months ago

OPEC+ makes big oil cut to boost prices; pump costs may rise

Associated Press  

FRANKFURT, Germany — The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections. The group said the decision was based on the “uncertainty that surrounds the global …

Oil rises as OPEC+ agrees to deep cuts, U.S. stockpiles fall
2 years, 2 months ago

Oil rises as OPEC+ agrees to deep cuts, U.S. stockpiles fall

The Hindu  

Oil rose about 1% on Wednesday, as OPEC+ agreed to its deepest cuts to production since the 2020 COVID-19 pandemic, despite a tight market and opposition to cuts from the United States and others. Prices also rose on U.S. government data that showed crude and fuel inventories fell last week. The United States was pressing OPEC+ producers to avoid making …

OPEC+ plans major oil production cut despite US pressure
2 years, 2 months ago

OPEC+ plans major oil production cut despite US pressure

Al Jazeera  

OPEC+ producers expected to agree to deep cut in their output target, curbing supply in already tight market despite US pressure to pump more. Such a production cut “would undoubtedly signal to the market the determination and resolve of the cartel to support oil prices,” UniCredit economist Edoardo Campanella said. “If the group cuts target production by 1 million barrels …

OPEC+ nations agree to cut oil production to boost sliding prices
2 years, 2 months ago

OPEC+ nations agree to cut oil production to boost sliding prices

LA Times  

The oil cartel’s decision to cut production risks adding another shock to a global economy that is already battling inflation driven by high energy costs. OPEC+ agreed to cut its collective output limit by 2 million barrels a day, delegates said, as the group seeks to halt a slide in oil prices caused by the weakening of the global economy. …

Biden to oil companies: Don’t hike prices as Hurricane Ian nears
2 years, 2 months ago

Biden to oil companies: Don’t hike prices as Hurricane Ian nears

Al Jazeera  

There are few signs that average gas prices have jumped significantly in Florida as the hurricane began to approach. President Joe Biden has warned oil and gas companies against increasing prices for consumers as Hurricane Ian neared landfall along Florida’s southwest coast. The nationwide average price had risen past $5 a gallon — and $6 in California — in June …

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