The proposal strengthens G7 nations’ price cap on Russian oil. Two members of the Senate Banking Committee introduced a preliminary draft for legislation on Tuesday to impose secondary…
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Gulf of Mexico Oil and Gas Lease Sales Reinstated
Action in compliance with the Inflation Reduction Act. The Department of the Interior reinstated an offshore oil and gas lease sale that was invalidated by a federal judge…
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Treasury Secretary Says Gas Prices Could Spike Again
Oil prices are on the increase. Oil prices rose Monday as supply concerns are mounting heading into the winter months. Although gasoline at the pump has gone down in…
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Administration May Release More from Strategic Petroleum Reserve
The intent is to mitigate winter heating oil prices. President Biden’s administration is considering the release of more crude oil from the nation’s Strategic Petroleum Reserve after the…
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EPA Refuses Exemptions to LNG Exporter
Gas would have gone to Europe during their energy crisis. The Environmental Protection Agency said it will not exempt a top U.S. liquified natural gas (LNG) exporter from…
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Interior Department Distributes Awards to Plug Orphan Oil Wells
Administration prepares to remediate 10,000 abandoned oil and gas wells. The Department of the Interior has announced an initial $560 million for the reclamation of orphaned oil and…
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EPA Waives Fuel Rule After Indiana Refinery Fire
The summer fuel mandate was removed in four states to compensate for the loss. The Environmental Protection Agency (EPA) issued an emergency waiver last week, lifting the Clean…
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Secretary Granholm Estimates “Record” 2023 Oil Production
Anticipates restocking global oil market without Russian supply. Energy Secretary Jennifer Granholm recently said the United States is set to produce around 12.7 million barrels of oil per…
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Appeals Court Vacates Block on Oil and Gas Leasing Pause
Executive order stands as district court addresses lack of specificity. In January 2021, President Joe Biden paused new leases for oil and gas extraction on federal land, in…
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Average Price for Gasoline Below $4
Inflation expectations are also diminishing. On Thursday, AAA posted the national average price of a gallon of regular gas at $3.990, dropping under $4 for the first time…
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