The Memorial Day weekend marked the start of summer driving season, and consumers are in a good spot thanks to American oil production. In fact, last week the Wall Street Journal reported that despite geopolitical tension and increased demand, gas prices are remaining steady: “A slow-but-steady decline pushed the average U.S. cost of regular gasoline
Read More...It is becoming increasingly clear that there are some members of Congress who lack a basic understanding of the makeup of the U.S. oil and natural gas industry and how oil markets work. This week, Senate Majority Leader Charles Schumer (D-NY) and over twenty Senate Democrats authored a letter to the FTC claiming that the
Read More...Election season is approaching, prices at the pump are rising, and just like clockwork, Rep. Ro Khanna (D-CA) is pushing for his proposed windfall profit tax, again. Yesterday, Rep. Khanna tweeted: Big Oil is making empty climate pledges. Congress must step up and pass my windfall tax on fossil fuel companies to rein in their
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...Last year, in an effort to lower gas prices for Americans, the Biden administration began to sell crude oil reserves from the U.S. Strategic Petroleum Reserve (SPR). In August of 2021, the administration was releasing 1 million barrels of oil per day. Today, the SPR has been reduced to 347 million barrels – the lowest
Read More...OPEC+ and Saudi Arabia’s oil production cuts will impact global oil price and American consumers. While the Biden administration has called these cuts short-sighted, it has failed to plan for the long term and consider the value of domestic production for Americans and global consumers. Short Term Impact Saudi Arabia will unilaterally shut in 1
Read More...The OPEC+ surprise announcement to cut oil production 1.16 million barrels per day (bpd) shows that global market dynamics are again the deciding role in oil prices as the per barrel price in the United States spiked 5.31 percent to $84.13 a barrel. The price increase accounts for the largest rise in almost a year
Read More...President Biden is re-evaluating the United States’ relationship with Saudi Arabia, following its decision to team up with Russia and cut oil production. The post White House displeased with Saudi Arabia’s decision to cut oil production appeared first on Shale Gas Reporter. This post appeared first on Shale Gas Reporter.
Read More...Last week Saudi Arabia and Russia, acting as leaders of OPEC Plus, agreed to cut oil production by 2 million barrels per day. The post OPEC Plus cuts oil production by 2 million barrels a day appeared first on Shale Gas Reporter. This post appeared first on Shale Gas Reporter.
Read More...During this energy crisis, as American drivers continue to pay sky-high prices for gasoline, the Biden administration has continuously ignored the most obvious answer in the world: increase oil production in the United States. Instead, as demonstrated yet again on Wednesday, President Biden continues to put Americans under the boot of OPEC+, which announced that
Read More...UK Knows the Way Out of the European Energy Debacle Vijay Jayaraj Research Associate: CO2 Coalition.. .… … … [Editor’s Note: The United Kingdom, under new leadership, is showing the EU folks what they ought to be doing about the energy debacle they’ve created. The UK shows the way!] At least one developed economy is
Read More...Euros, Euros and More Euros for European Energy Foolishness Vijay Jayaraj Research Associate: CO2 Coalition.. .… … … [Editor’s Note: Europeans are spending more Euros than ever on energy thanks to the foolishness of European energy policies enabling green grifting off consumers and taxpayers.] Restrictive energy policies have the world staring at an uncertain future.
Read More...After President Biden ignored invitations to see first-hand how hardworking Americans across the country produce, transport and supply energy from the well head to your home, choosing instead to visit Saudi Arabia and attempt to negotiate OPEC into increasing its oil production to lower U.S. energy prices, OPEC responded this week by announcing one of
Read More...It’s only been a few short years since the United States demonstrated that it can compete in the global oil market, and in fact, quite literally drilled its way to lower gasoline prices. Yet, with gasoline prices once again on the rise, the Biden administration continues to look beyond U.S. borders to OPEC+ to solve
Read More...Thanks to the development of America’s abundant shale resources, energy supply shocks seemed to be a thing of the past. But with winter approaching, the Biden administration’s refusal to allow timely lease sales for production on federal lands is set to contribute to the highest energy prices in years. Now that summer has come
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