Tag: Oil

Trump Admin Considering Drilling Near Florida After Election

Due to the unpopularity of drilling in the state of Florida the Trump administration could consider drilling in the state once the election is over in November. According to The Hill: The Trump administration could reportedly pursue oil and gas drilling off the coast of Florida after the presidential election this November. Four sources told Politico about

Trump Admin Sanctions Companies Transporting Venezuelan Oil

The Trump administration has hit companies that transport Venezuelan oil with sanctions. According to The Hill: The Trump administration announced sanctions Tuesday on four shipping companies accused of transporting oil from Venezuela, in violation of U.S. sanctions against the country’s government. Secretary of State Mike Pompeo said in a statement the four companies – three registered in the Marshall

New Trump Rule Limits States From Blocking Pipelines

A new Trump rule in regards to the Clean Water Act limits the power states have to block pipeline projects. According to The Hill: The Trump administration gutted a key portion of the Clean Water Act on Monday, limiting states’ ability to block controversial pipeline projects that cross their waterways. The final rule from the

Judge Blocks Keystone XL Pipeline by Canceling a Permit

A federal judge has ruled against the Keystone XL pipeline by blocking a permit for the controversial pipeline President Trump supports. According to The Hill: A district judge in Montana reportedly ruled Wednesday against the Keystone XL pipeline, canceling a key permit necessary for the project’s construction. According to The Associated Press, Judge Brian Morris

Trump Admin Planning to Rent Storage Space to Oil Companies

The Trump administration is working to rent storage space for about 27 million barrels of oil to oil companies with a surplus of oil due to dwindling demand. According to The Hill: The Department of Energy (DOE) is moving ahead with its plan to rent storage capacity to struggling oil companies that are running out

Trump Admin to Buy Millions of Barrels of Oil

The Trump administration plans to buy millions of barrels of oil as the oil industry continues to slump amid supply and demand issues. According to The Hill: The U.S. government will buy 30 million barrels of oil from producers amid a financial downturn for the industry. The Department of Energy (DOE) announced Thursday it would

Oil Reaches Lowest Price Since 2003

The price of oil is at the lowest point it has been since 2003 according to new reports. According to The Hill: U.S. oil prices reached their lowest point since 2003 on Wednesday as the coronavirus has reduced demand in countries around the world. The prices fell for a third session, with U.S. crude Clc1