The outcomes of gubernatorial races and elections of commissioners at a utility regulator could change the energy policies of several U.S. states after the midterm elections on November 8. Renewables regulations and targets in Maryland, Oregon, and Arizona could see U-turns in energy policies, depending on the outcome of the …
Read More »Biden’s Plan to Refill the SPR is unlikely to Boost U.S. Oil Output
Oil prices are unlikely to drop to the level the U.S. Administration has said would trigger purchases for refilling the Strategic Petroleum Reserve (SPR), U.S. oil executives and analysts say, suggesting that the shale patch will not boost production in response to President Biden’s plan to increase output in the …
Read More »Macron Lashes out at United States over Double Standard Energy Policies
U.S. trade and energy policies have created a “double standard”, with Europe left paying higher prices for its natural gas, French President Emmanuel Macron said on Friday. France, the latest—and largest–country to withdraw from the Energy Charter Treaty, has switched from being a net exporter of energy last year, to …
Read More »U.S. EV Market Set to Grow by 390% by 2028
The U.S. market is looking increasingly attractive for electric vehicle (EV) producers, as non-traditional EV manufacturers make plans to break into the market. A decade ago, when people thought of EVs one name came to mind – Tesla. Fast-forward a few years and consumers have a vast array of EV …
Read More »Turkey Accuses Washington of ‘Bullying’ Saudi Arabia over OPEC+ Oil Cuts
Turkey’s Foreign Minister Mevlüt Çavuşoğlu on Friday accused the United States of bullying its ally Saudi Arabia after OPEC+ announced oil production cuts despite Washington’s objections. Earlier this month, OPEC+ announced that it will cut oil production by 2 million barrels a day, starting in November, in a move that …
Read More »US Charges Russians for Shipping Military Equipment, Venezuelan Oil
US prosecutors on Wednesday charged five Russian nationals for sanctions evasion and other violations related to the shipment of military technologies bought from US manufacturers by Russian buyers, some of which have ended up on the battlefield in Ukraine. Federal prosecutors in Brooklyn say the electronic components purchased by Russian …
Read More »Biden Plans to Refill the SPR when Oil Prices Fall below $72
The Biden administration will start buying crude to replenish the strategic petroleum reserve when prices fall to between $67 and $72 per barrel, the White House said in a fact sheet. “As part of its commitment to ensure replenishment of the SPR, the DOE is finalizing a rule that will …
Read More »US Official Says OPEC+’s Oil Cut Came at ‘Worst’ Moment
OPEC+’s decision to cut oil production came at the “worst possible moment” and will add to global inflationary pressure, a senior US State Department official said during a visit to the Middle East. “The impact is wide ranging,” Barbara Leaf, Assistant Secretary of State for Near Eastern Affairs, told reporters …
Read More »BP to Buy US Renewable Gas Firm for $4.1 bn
BP has agreed to buy U.S. renewable gas producer Archaea for $4.1 billion to help the British oil giant reach net zero carbon emissions by 2050. The London-listed energy major is flush with cash after recent surges in oil prices that have triggered calls for the cash-strapped U.K. government to …
Read More »US Selling Its Gas to European Countries at High Price
Russian representative in Vienna-based International Organizations says the US supplies liquefied natural gas to Europe at a price 4 times higher than on the US home market. Mikhail Ulyanov in a tweet on late Sunday pointed to the US action in selling its gas to European countries at a high …
Read More »