Everything old is new again. This week, U.S. Senator Sheldon Whitehouse (D-RI) came back with a revised version of his spectacularly incorrect “price gouging” theory. Speaking to E&E News about ExxonMobil’s and Chevron’s recently proposed acquisitions, Sen. Whitehouse made the bizarre claim that oil majors are looking for deals because of their “immense levels of
Read More...The most recent Federal Reserve Bank of Dallas survey of energy executives operating in Texas, northern Louisiana, and southern New Mexico found that overall activity in the oil and natural gas sector trended up in the third quarter of the year, but cost increases remain a worry. This increase in business activity, seen in the
Read More...While on a multi-state tour promoting the administration’s climate credentials, President Biden admitted during an interview with the Weather Channel that he tried to “stop all drilling on the east coast, and the west coast, and in the Gulf,” but was stymied by court orders including a Louisiana district court judge’s 2022 ruling that overturned
Read More...More than a year after the Obama administration’s Outer Continental Shelf five-year offshore leasing program expired, the United States still does not have a new plan in place, as required by law. As put plainly by the Chair of the House Subcommittee on Energy and Mineral Resources Pete Stauber (R-MN) during a House Natural Resources
Read More...After overcoming efforts to limit fossil fuel development on public lands in Ohio, communities across the state are experiencing extraordinary benefits from oil and natural gas production royalties. The latest example of this is taking place in the Muskingum Watershed Conservancy District (MWCD), as it’s becoming a record-setting tourist attraction due to investments in campgrounds
Read More...Ohio’s top producing Utica Shale counties have collected more than $349 million in real estate property taxes on oil and natural gas activity since 2010, according to the latest data from county auditors compiled by the Ohio Oil and Gas Association. As OOGA and EID previously highlighted, these revenues have empowered Ohio communities to fund
Read More...With just eight days before a high-stakes midterm election, President Biden has a proposal to address inflation and high energy prices – higher taxes. On Monday, following record earnings from oil majors, the President gave a press conference criticizing oil companies’ profits and encouraging Congress to levy additional taxes on American energy companies, ignoring his
Read More...With ten days to go before the midterm elections, and gas prices heading back up, some anxious politicians are desperately trying to point fingers at anyone but themselves to explain why consumers are paying more at the pump. That includes at oil and gas companies. So, with third quarter earnings results out, these politicians are
Read More...Jamie Dimon, the CEO of the largest bank in America, thinks that U.S. oil and natural gas producers should be incentivized to produce as much energy as possible. Speaking to a CNBC reporter at an event in London, Dimon made the case that U.S. leaders should have encouraged more domestic production, earlier: “In my view,
Read More...Similar to the previous quarter, findings from the latest Federal Reserve Bank of Dallas survey of energy executives indicate companies are experiencing rising input costs, supply chain constraints, and yet, firms are still increasing oil and natural gas production in Texas, southern New Mexico, and northern Louisiana. However, concerns about the future of oil and
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