High gasoline prices are impacting all American drivers — but low-income households bear the brunt of it. That’s because low earners funnel a bigger share of their budgets to transportation cost...
Tag: Oil and Gas
IEA’s plan to cut oil use
Cyclists photographed in Lisbon, Portugal, in October 2018. Kamisoka | Istock Unreleased | Getty Images Speed limits on highways should be cut by at least 10 kilometers per hour (6.2 mph) to help lowe...
Oil market heads for ‘biggest supply crisis in decades’ with Russia’s exports set to fall, IEA says
Three million barrels per day of Russian oil output is at risk beginning in April as sanctions hit and buyers shun the nation’s exports, the International Energy Agency said Wednesday. “Th...
U.K. Must ‘Double Down’ On Green Energy To Weaken Putin
In light of Russia’s invasion of Ukraine, U.K. Prime Minister Boris Johnson has penned an article … [+] calling for a revised British energy strategy with green energy “at the heart....
Oil drops again, now more than 27% below recent high
Oil rigs work on platforms in Gaoyu Lake in Gaoyou in east China’s Jiangsu province Friday, Sept. 17, 2021. Barcroft Media | Getty Images Oil registered heavy losses Tuesday, building on Monday&...
Insiders debate how to secure America’s energy future at CERAWeek
Attendees during the 2022 CERAWeek by S&P Global conference in Houston, Texas, U.S., on Wednesday, March 9, 2022. F. Carter Smith | Bloomberg | Getty Images The annual CERAWeek by S&P Global e...
There’s ‘nowhere to hide’ for consumers as inflation hits food, gas, housing
David Sacks | Getty Images Consumer prices are rising at their fastest pace in decades — and that inflation has been most acute in household staple items like food, housing and transportation, making ...
Singapore on allowing vaccinated travelers without quarantine
Singapore wants to eventually allow all travelers to skip quarantine in the country as long as they are vaccinated, Transport Minister S. Iswaran said. In an interview with CNBC on Thursday, he said: ...
Gas prices are spiking — don’t expect sales of electric vehicles to follow
High gas prices are displayed at a Shell station on March 7, 2022 in Los Angeles, California. Mario Tama | Getty Images News | Getty Images Consumers hoping to switch to an all-electric or more fuel-e...
Crude oil jumps on report U.S. to ban Russian oil imports
A man pumps gas into his vehicle at a petrol station in Montebello, California on February 23, 2022, as gas prices hit over $6 dollars per gallon. Frederic J. Brown | AFP | Getty Images Oil prices jum...
Gas prices are heading to an all-time record. Here’s how to protect yourself
With gasoline prices at a 14-year high, it’s hard to imagine paying even more at the pump. Yet prices are only heading higher. On Sunday, the national average for a gallon of gas hit $4.009, the...
A surge in jet fuel prices threatens to overshadow post-pandemic travel rebound
An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images Airlines trying to claw their...
How to know when oil prices will cause a recession, what to invest in
With the national average for a gallon of gas hitting its highest price since 2008 and the stock market on edge with the first land war in Europe since WWII being waged by one of the world’s big...
Why a California city is trying to build the state’s last power plant
People gathered in Glendale in February to protest the city’s approval to build a fossil-fueled power plant. Courtesy of Morgan Goodwin Glendale, a Los Angeles suburb that’s home to Walt D...
Elon Musk IDs The Global Energy Problem, But Who Has The Solution?
Tesla CEO Elon Musk gestures as he arrives to visit the construction site of the future US electric … [+] car giant Tesla, on September 03, 2020 in Gruenheide near Berlin. (Photo by Odd ANDERSEN...
There should be no new gas supply contracts with Russia: IEA
A Gazprom logo photographed in Russia on Jan. 28, 2021. Andrey Rudakov | Bloomberg | Getty Images The European Union should not enter into any new gas supply contracts with Russia, in order to lower i...
Oil rises to the highest since 2008, before paring gains
Oil pipelines, pumping rigs, and electrical transmission lines dot the landscape along California’s “Petroleum Highway” (Highway 33) running along the northwestern side of the San Jo...
Ryanair CEO says greater Western oil production ‘hits Russia hardest’
Ryanair Group CEO Michael O’Leary delivers remarks during a press conference in Lux Lisboa Park Hotel. Horacio Villalobos | Corbis News | Getty Images The chief executive of budget airline Ryana...
Energy giant Shell to end partnership with Russia’s Gazprom as Ukraine conflict intensifies
The central processing plant for oil and gas in Salym, Russia, Feb. 4, 2014. Salym Petroleum Development is a venture between Shell and Gazprom Neft. Andrey Rudakov | Bloomberg | Getty Images Shell sa...
Oil jumps as traders fear disruption in Russia’s energy industry
An oil pumping jack, also known as a “nodding donkey”, in an oilfield near Dyurtyuli, in the Republic of Bashkortostan, Russia, on Thursday, Nov. 19, 2020. Andrey Rudakov | Bloomberg | Get...
Biden administration pausing new oil and gas leases amid legal battle
An oil pumpjack (L) operates as another (R) stands idle in the Inglewood Oil Field on January 28, 2022 in Los Angeles, California. Mario Tama | Getty Images The Biden administration is delaying decisi...
Hydrogen generation could become $1 trillion market: Goldman Sachs
The pump of a hydrogen refueling point at a gas station in Berlin, Germany, on Wednesday, Aug. 25, 2021. Krisztian Bocsi | Bloomberg | Getty Images Hydrogen has an important role to play in any transi...
Speed up renewables investment to guarantee energy independence: CEO
The CEO of Portuguese utility EDP has linked the rapid adoption of renewables to Europe’s energy independence, telling CNBC that investment in the sector needed to be “much faster.” ...
Oil jumps amid escalating tensions between Russia and Ukraine
Oil well pump jacks operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. David Paul Morris | Bloomberg | Getty Images Oil prices jumped in afternoon trading Friday amid...
Gas prices climb to highest level in more than 7 years as oil surges above $90
A gas station in Los Angeles on Dec. 10, 2021. FREDERIC J. BROWN | AFP | Getty Images Gas prices rose to the highest level in more than seven years Friday, on the heels of the U.S. oil benchmark toppi...
Exxon (XOM) earnings Q4 2021
Exxon Mobil’s revenue jumped more than 80% year over year during the fourth quarter amid a rebound in oil and gas prices, the company said Tuesday. With Exxon now in a stronger financial positio...
Biden helping states plug orphan oil gas wells, cut methane emissions
Oil pumpjacks operate in the Inglewood Oil Field on January 28, 2022 in Los Angeles, California. Mario Tama | Getty Images The Biden administration on Monday announced it will send $1.15 billion to st...