The oil, which was ordered to be released throughout the year from the Strategic Petroleum Reserve by President Joe Biden, was meant to relieve the pressure on pump prices. Instead, it sold to foreign nations including China, according to a report from Reuters. Biden ordered the release of 30 million barrels on March 1st, another
Saudi Crown Prince Mohammed bin Salman and the U.A.E.’s Sheikh Mohammed bin Zayed al Nahyan both declined requests to speak to Biden. The White House has been trying to improve relations with the two countries as oil prices push $130 a barrel for the first time in nearly 14 years. Saudi Arabia and the UAE
Senators Joe Manchin (D-WV) and Jon Tester (D-MT) have turned the call for domestic oil production bipartisan. The two were questioned by CNN’s Manu Raju in the Capitol where they emphasized domestic production over new sources of foreign imports. “We shouldn’t be advancing other countries who don’t share our values,” Tester said. “So I think
President Joe Biden has banned imports of Russian oil and natural gas, sending gasoline prices soaring even further amid ongoing inflation. Biden attempted to pin already elevated gas prices on what he’s calling the “Putin price hike”, undoubtedly trying to get ahead of the inevitable public blowback as midterm elections come into play. According to
Economic experts are warning Americans across the country will soon be paying $5 for a gallon of gas due to impacts from Russia’s war with Ukraine. Patrick De Haan, head of petroleum analysis at GasBuddy, says fuel prices are up an astounding .20/gal from just one week ago. Industry data shows that’s a full dollar
Joe Biden is looking to raise gas prices by removing tax breaks for fossil fuel companies. According to The Daily Wire: President Joe Biden pushed for eliminating tax breaks for fossil fuel companies during a speech on Wednesday in Crystal Lake, Illinois, saying that extra tax revenue from those companies would help pay for his
The Senate, in a surprising 79-16 vote has confirmed Mark Menezes to be the second in command. According to The Hill: The Senate on Tuesday confirmed Mark Menezes for the No. 2 spot at the Energy Department in a 79-16 vote. President Trump nominated Menezes to be the department’s deputy secretary in March. He will replace Dan Brouillette, who previously held
The Trump administration is harshly criticizing banks who are refusing to fund drilling in the arctic. According to The Hill: The Trump administration is pushing back against banks that have announced they won’t finance oil drilling operations in the Arctic National Wildlife Refuge (ANWR), arguing that banks must provide “fair access to all legal businesses.”
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
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
