“Exxon Mobil and Chevron, the largest U.S. oil companies, on Friday reported a second consecutive quarter of robust earnings as oil and natural gas prices continued to rise after the Russian invasion of Ukraine,” the New York Times reports.
Germany Drops Opposition to Embargo on Russian Oil
“Germany is now ready to stop buying Russian oil, clearing the way for a European Union ban on crude imports from Russia,” the Wall Street Journal reports.
“The German shift increases the likelihood that EU countries will agree on a phased-in embargo on Russian oil, with a decision possible as soon as next week… However, how quickly the bloc ends its Russian oil purchases, and whether it also uses measures such as price caps or tariffs, is still being negotiated. The U.S. is pressing its European allies to avoid steps that could lead to a protracted increase in oil prices.”
Pelosi Nixes Gas Tax Holiday
Speaker Nancy Pelosi threw cold water on the idea of a national gas tax holiday, which some vulnerable House Democrats have embraced, Politico reports.
Said Pelosi: “There has been some interest in the holiday. The pros of it are that it’s good PR — you’re asking about it. The cons are that there’s no guarantee that the reduction in the federal tax would be passed on to the consumer. We have no evidence to think that the oil companies would pass that on to the consumer.”
Democrats Renew Push to Pause Gas Tax
“Top congressional Democrats are exploring new proposals to suspend the gas tax and penalize giant energy corporations, hoping to lower prices as part of a broader effort to blunt the financial and political fallout from soaring inflation,” the Washington Post reports.
“Some in the party even are pushing to adopt the bills before Memorial Day weekend, a travel-heavy holiday that marks the beginning of summer. But they face an uphill battle, particularly in the Senate, where Republicans have exhibited little appetite for teaming up with Democrats and taking aim at the energy industry.”
Fight Back Against Soaring Energy Prices
Sara Goddard offers 15 smart ways to reduce your energy use — while taking control of your soaring gas bills and helping the environment.
Russia Cuts Off Natural Gas to Poland and Bulgaria
“Infuriated by the West’s supply of arms and other support to help Ukraine resist invading Russian troops, Moscow on Tuesday took the fight to Europe’s economy, telling Poland and Bulgaria that it was halting supplies of natural gas, on which both countries and Europe in general are heavily dependent,” the New York Times reports.
“A decision by Russia’s energy behemoth Gazprom to cut off gas supplies to two countries that are both members of NATO and the European Union marks the first time that Moscow has directly and openly targeted Europe with its energy weapon. The move upends assurances by Moscow since the Soviet era that, no matter what the political climate, Russia could be counted on as a reliable supplier of natural gas.”
Washington Post: Russia accused of ‘gas blackmailing’ after cutting off Poland, Bulgaria.
Biden Phasing Out Incandescent Lightbulbs
Washington Post: “The new rules, which reverse a Trump-era policy, expand energy-efficiency requirements to more types of lightbulbs and ban the sale of those that produce less than 45 lumens per watt — a measure of how much light is emitted for each unit of electricity. This will eventually prohibit most incandescent and halogen lightbulbs and shift the country toward more efficient and compact fluorescent and LED bulbs.”
Manchin Explores Energy, Climate Package With GOP
Sen. Joe Manchin (D-WV) “is exploring an energy and climate package aimed at winning enough Republican support to skirt the partisan budget reconciliation process that has held hostage hundreds of billions of dollars in potential spending on related priorities,” Bloomberg reports.
Wind Energy Is Booming In Deep Red States
CNN: “Far from the coasts, wind energy is thriving here in America’s heartland, on the vast plains of Oklahoma, Texas and Nebraska. Long an area devoted to oil and gas, Western Oklahoma is now home to one of the largest wind farms in the world.”
Germany Prepares for a Russian Gas Embargo
Financial Times: “Talk of a full-scale embargo on Russian energy is spreading panic in Germany, which until the war received 55 percent of its imported gas from Russia. The fear is that any sudden gas shut-off could paralyze large parts of the country’s industry…”
“Germany also faces the risk that Russia could itself retaliate against western sanctions by unilaterally stopping the flow of gas to Europe. Either way, Berlin is facing a scenario unthinkable even a few weeks ago — a gas supply shock that would force it to ration energy to industry and could shutter some of the country’s largest factories.”
Biden Launches Effort to Save Distressed Nukes
“The Biden administration is launching a $6 billion effort to rescue nuclear power plants at risk of closing, citing the need to continue nuclear energy as a carbon-free source of power that helps to combat climate change,” the AP reports.
Biden Plans to Open More Public Land to Drilling
“The Biden administration announced on Friday that it would resume selling leases for new oil and gas drilling on public lands, but would also raise the federal royalties that companies must pay to drill, which would be the first increase in those fees in more than a century,” the New York Times reports.
“The move comes as President Biden seeks to show voters that he is working to increase the domestic oil supply as prices surge in the wake of the Russian invasion of Ukraine. But it also violates a signature campaign pledge made by Mr. Biden as he sought to assure climate activists that he would prioritize reducing the use of fossil fuels.”
Biden to Announce Plan to Ease Gas Prices
“The White House plans to roll out new policies Tuesday aimed at curbing gas prices as it braces for a crushing new report that will show inflationary pressures on millions of Americans have intensified this year,” the Washington Post reports.
“President Biden will announce plans for the Environmental Protection Agency to allow a blended form of gasoline that uses ethanol, known as E15, to be sold this summer — a measure long resisted by some energy and environmental groups that could help deliver short-term relief at the pump.”
Wall Street Journal: “Allowing fuels with a higher ethanol content will lessen reliance on oil and give drivers more options, senior administration officials said, adding that it could save drivers 10 cents a gallon off current prices.”
Most Blame Putin and Oil Companies for High Gas Prices
“As politicians spar over who’s to blame for recent increases in gas prices, a large majority of Americans say oil companies and Russian President Vladimir Putin are major culprits,” a new ABC News/Ipsos poll finds.
“Along party lines, Americans are more likely to blame Democrats for the increase in gas prices than Republicans, according to the poll, which also found much greater enthusiasm about voting in this November’s elections among Republicans than among Democrats.”
Democrats on the Defensive Over Gas Prices
Washington Post: “The blame game over high fuel prices is in full throttle in Washington and congressional districts across the country as people like Languren decide who deserves the bulk of their anger over the sudden hit to their wallets. A self-described conservative Democrat now leaning Republican because of economic worries, Languren is the kind of voter who will help determine whether Democrats can hang on to their fragile congressional majorities come November.”
“Meanwhile, Democrats such as Levin — who represents a state with some of the highest gas prices in the country — are struggling to come up with quick fixes or even long-term solutions to the gas price problem, along with record levels of inflation overall. The issue is testing the mantra that Democrats are the party that ‘delivers.’”
Lithuania Cuts Off Russian Gas
Biden Embraces Oil as War Overwhelms Climate Agenda
“President Joe Biden delivered his strongest endorsement of oil on Thursday, ordering an unprecedented release of emergency U.S. crude in a move that gambled his climate-saving credentials on lowering gasoline prices in an election year,” Bloomberg reports.
“If the strategy works, Biden may help stave off both a recession and crushing defeats for his party in midterm elections, while drawing the ire of climate activists and potentially derailing his green goals. If it fails — and it very well might — he risks looking like Jimmy Carter, snubbed by oil-rich Mideast nations and powerless to rein in prices at the pump.”
“It’s a remarkable shift for a president who campaigned on promises to combat climate change, accelerate renewable fuels and block drilling permits on public lands and waters. In the space of a week, he’s instead ordered the emergency release of 180 million barrels of crude from U.S. stockpiles and presided over a plan to boost exports of American natural gas to Europe.”
New York Times: As gas prices soar, Biden’s climate ambitions sputter.
AP: “The president said it was not known how much gasoline prices could decline as a result of his move, but he suggested it might be ‘anything from 10 cents to 35 cents a gallon.’”
Biden Ready to Release a Million Barrels of Oil a Day
“President Biden is considering a plan to release one million barrels of oil a day from the Strategic Petroleum Reserve for as long as 180 days, a move that would add a large amount of oil to the global market,” the New York Times reports.
- « Previous Page
- 1
- …
- 9
- 10
- 11
- 12
- 13
- …
- 26
- Next Page »