For $ 100 Oil: More Driving, Less Drilling

For $ 100 Oil: More Driving, Less Drilling

This post was originally published on this siteWall Street’s summer forecast requires $ 100 in oil. Barrel costs haven’t been that high since the summer of 2014, before OPEC began price competition with US shale producers and pushed oil prices into a long-standing slump. In the early days of the...

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Exxon sets ‘net zero’ emissions goal from operations by 2050

Exxon sets ‘net zero’ emissions goal from operations by 2050

This post was originally published on this siteExxonMobil announced Tuesday a goal of net-zero emissions from operations by 2050, but did not make a similar commitment for consumer emissions, which represent the majority of the oil giant’s output.“We are developing comprehensive road maps to…

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Fossil fuel subsidies are proving harder to end than first thought

Fossil fuel subsidies are proving harder to end than first thought

This post was originally published on this sitePresident Biden campaigned on ending oil and gas industry subsidies. But getting rid of them requires passing legislation. A bill eliminating the overseas drilling subsidy is stalled in Congress.

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Biden’s push against sanctions on Russia’s pipeline puts Democrats in a bind

Biden’s push against sanctions on Russia’s pipeline puts Democrats in a bind

This post was originally published on this siteThe Biden admin is pressing Democrats to reject sanctions on Russia’s Nord Stream 2 gas pipeline, even as it warns Moscow to pull back troops from Ukraine.

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Why the Biden administration is reopening oil and gas leasing in the Gulf of Mexico

Why the Biden administration is reopening oil and gas leasing in the Gulf of Mexico

This post was originally published on this siteOne of President Joe Biden’s boldest environmental campaign promises was to ban new oil and natural gas leasing on public land and water. But on Wednesday his administration will open more than 80 million acres in the Gulf of Mexico to auction for...

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Americans Keep Spending Despite Rising Inflation

Americans Keep Spending Despite Rising Inflation

This post was originally published on this sitePeople are paying higher prices for groceries, gas and holiday gifts, yet many are living and spending as if it isn’t happening.

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Big Oil Companies Amass Cash as Crude Tops $80 a Barrel

Big Oil Companies Amass Cash as Crude Tops $80 a Barrel

This post was originally published on this siteExxon, Chevron and other large oil companies are reporting the strongest quarterly revenue since before the start of the pandemic and pulling back on spending.

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Despite climate change promises, governments plan to ramp up fossil fuel production

Despite climate change promises, governments plan to ramp up fossil fuel production

This post was originally published on this site A new study by the United Nations shows that the world’s governments plan to carry on using coal, gas, and oil — despite promises made under the 2015 Paris Agreement to limit global warming. (Image credit: Tony Gutierrez/AP)

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