YONKERS, NY – NOVEMBER 06: U.S. President Joe Biden speaks at a rally for New York incumbent Gov. … [+] Kathy Hochul and other state Democrats on November 6, 2022 in Yonkers, New York. Hoc...
Tag: Oil
Oil Companies Lift Their Dividends as Cash Rolls In
It was a busy week for dividend increases at energy companies, a bonus for investors who have scored as the stocks have taken off this year. The sector is prospering as Russia’s war against Ukraine ha...
Biden Feud With Big Oil Ratchets Up Just as World Needs More US Oil
(Bloomberg) — As October drew to a close, the White House saw another potential energy flash point on the horizon. Most Read from Bloomberg Diesel and heating oil inventories in the US Northeast...
Permian Basin Fuels New Texas Oil Boom, Lifting Shale Oil Stocks Near Buy Points
The new Texas oil boom is here, powered by shale deposits in the Permian Basin. The region’s oil stocks are well-represented inside the IBD 50, with Matador Resources (MTDR), Diamondback Energy ...
Oil And Gas Profits Very High Once Again – What This Feels Like To Energy Consumers.
Oil wells in North Dakota. Gamma-Rapho via Getty Images Third quarter (Q3) profits have been released and, for oil and gas companies, the numbers are stunning. In Q2, bp made $8.45 billion dollars and...
3 Oil Stocks to Buy No Matter if Crude Prices Rise or Fall
Look for oil stocks to buy as the best opportunities today, whether crude oil prices are rising or falling. These companies provide valuable energy resources to fuel our cars, homes, and businesses an...
Biden’s “Windfall Profits Tax” On Oil Companies Would Give Voters What They Want—And That’s The Problem
WASHINGTON, DC – OCTOBER 31: U.S. President Joe Biden delivers remarks on oil company profits in the … [+] Roosevelt Room of the White House on October 31, 2022 in Washington, DC. Biden is...
This oil company is America’s hottest stock. Why won’t its CEO pump more oil?
Vicki Hollub’s Occidental Petroleum controls the biggest piece of the most important area for oil production in the United States. Not so long ago, an oilman in a position like that—and it would’ve be...
Bitcoin Hashrate Record All-Time High Giant Oil Companies Become Leading BTC Miner
Bitcoin hashrate has reached an all-time high since 2022. The increasing hash rate of bitcoin is troubling miners and mining companies. On the other hand, the surging hash rate is helping electricity ...
Record hash rates may see Big Oil become a major BTC mining player
Surging Bitcoin (BTC) network hash rates are causing problems for mining companies but might be rolling out the red carpet for energy giants. The Bitcoin hash rate, the amount of computing power given...
What Next For The Strategic Petroleum Reserve?
In an aerial view, the Strategic Petroleum Reserve storage at the Bryan Mound site is seen on … [+] October 19, 2022 in Freeport, Texas. (Photo by Brandon Bell/Getty Images) Getty Images The Adm...
President Biden just accused oil companies of ‘war profiteering’ and threatened them with a new windfall tax. Will it help with gas prices?
‘They ain’t seen nothing yet’: President Biden just accused oil companies of ‘war profiteering’ and threatened them with a new windfall tax. Will it help with gas prices?...
Oil Industry Blasts Biden Over ‘Outrageous’ Claim of War Profits
(Bloomberg) — President Joe Biden’s suggestion that US oil companies are profiting from Russia’s war in Ukraine was “absolutely outrageous,” according to the trade group representing American oi...
Biden raises prospect of windfall tax on oil companies
President Joe Biden waves before boarding Air Force One at Delaware Air National Guard Base – AP Joe Biden is to raise the possibility of a windfall tax on energy companies in a speech to Congre...
Trick Follows Treat For Big Oil As Biden Pushes New Tax On Windfall Profits
Biden voted early with granddaughter Natalie on October 29, in Wilmington, Delaware. AFP via Getty Images Big Oil is accustomed to politicians tagging them as the bogeyman. But a presidential condemna...
Putin ‘Destroyed’ Russian Economy Save For Oil, White House Says
Topline Russian President Vladimir Putin has sunk his country’s economy outside of the still lucrative oil exports, a Biden Administration official said Monday, as Russia largely retreats from the glo...
Brazil Stocks: Oil Giant Petrobras Falls After Lula Beats Bolsonaro
Brazil stocks dropped broadly early Monday after the country’s leftist former president, Luiz Inácio Lula da Silva won Sunday’s runoff presidential election, narrowly defeating right-wing ...
Oil is all that Putin has left, presidential advisor Amos Hochstein says
Amos Hochstein photographed in Beirut, Lebanon, on October 27, 2022. Hussam Shbaro | Anadolu Agency | Getty Images Oil is all Russia’s economy has left following its invasion of Ukraine earlier ...
Stocks Poised to Fall Monday
U.S. stocks are poised for a slightly lower open on Monday ahead of another busy week of earnings and the Federal Reserve’s latest decision on interest rates on Wednesday. At 6:22 p.m. Eastern time Su...
Natural Gas Took a Dive. A Warmer Winter Could Keep Prices Down.
Natural-gas prices were poised for their largest yearly percentage rise in 23 years before erasing much of that gain in the span of six sessions this month. The U.S. market shifted from worries about ...
Oil Giants Face Backlash for Handing Record Profits to Investors
(Bloomberg) — Big Oil’s record profits are a huge hit on Wall Street but increasingly provocative in the corridors of power from Washington to London as politicians lash out against executives f...
Exxon Mobil rides again as tech megacaps implode. Big Oil is going back to the future in the 2020s
The good times may be ending for high-flying tech firms, judging by their recent weak earnings, but a global energy crisis has catapulted Big Oil into tech’s place. Shares in Amazon and Facebook paren...
Tullow Oil share price outlook as energy profits jump
Tullow Oil (LON: TLW) share price has crawled back recently as oil and gas companies record bumper profits. The shares rose to a high of 41.25p, which was about 12% above the lowest level this year. T...
Oil Stocks Are Increasingly Disconnected From Prices
Oil stocks have continued to show a clear disconnect from the commodity they track, with oil equities staging a powerful rally even as oil prices have fallen since the OPEC meeting. Over the past 30 d...
Biden Urges Oil Companies to Cut Prices After Shell’s Profit Doubled
(Bloomberg) — President Joe Biden criticized record energy company profits after Shell Plc announced its second-highest earnings ever while raising its dividend and expanding buybacks. Most Read...
Warren Buffett’s Favorite Oil Stock Breaks Out, Enters Buy Zone
This week’s Big Cap 20 stock is Occidental Petroleum (OXY), Warren Buffett’s favorite oil stock. It achieved that honor because it’s in a buy zone after crossing the 72.14 buy point ...
Exxon and Oil Giants to Post Stunning Earnings
A warning from President Biden could dampen the party atmosphere for Big Oil’s expected third-quarter earnings bonanza. Biden, who is worried about high gasoline prices, said last week that oil compan...
Depleting strategic oil reserves could prove ‘painful in the months to come’: Saudi energy minister
“‘It is my profound duty to make it clear to the world that losing emergency stock may become painful in the months to come.’” — Prince Abdulaziz bin Salman, Saudi energy minister That’s Prince Abdula...
The US now has just 25 days of diesel supply — the lowest since 2008. Here’s why that’s more alarming than a dwindling ‘oil piggy bank’
The US now has just 25 days of diesel supply — the lowest since 2008. Here’s why that’s more alarming than a dwindling ‘oil piggy bank’ The U.S. is facing a diesel crunch just ...
Opinion: Oil companies can’t just ‘drill baby drill’ at will. Here’s what it really takes to ramp up energy production.
As energy prices rage, President Biden and Republicans have urged companies to increase drilling to lower oil and gasoline prices from 14-year highs. But it’s not that simple. Even after permits are a...