Despite pleading with oil and gas companies to boost their output in recent months, to tackle global shortages and rising prices, President Biden is once again hitting the industry hard by proposing a greater emissions reduction in operations. And he’s not the only one, as the U.K. and EU look to reduce gas flaring and venting practices to curb their methane emissions in line with climate pledges.
More Biden Oil And Gas Restrictions Are On The Horizon
Day: December 19, 2022
The Era Of Cheap Oil Has Come To An End
In its latest monthly report, OPEC revealed it had yet again failed to produce as much oil as it agreed to produce the last time it discussed output. And it wasn’t by a few thousand barrels per day, either. The shortfall was some 1.8 million barrels daily, but more importantly, that sort of undershooting of its own target has become a regular thing for the cartel. Meanwhile, the United States federal government needs to buy some oil for its strategic petroleum reserve after releasing close to 200 million barrels from it this year as a way of countering fuel price inflation. Yet U.S. drillers are not in a rush to boost production. On the contrary, it seems production growth has lost its place among these companies’ top priorities.
The Era Of Cheap Oil Has Come To An End
Previously:
U.S. Begins SPR Repurchase Program As Oil Prices Crash
The U.S. EIA reported that 4.7 million barrels of crude oil left the Strategic Petroleum Reserves in the week ending December 9, but now the United States has started the process of refilling the nation’s SPR.
U.S. Begins SPR Repurchase Program As Oil Prices Crash
Why Congress Can’t Stop the CIA From Working With Forces That Commit Abuses
The Leahy Law prohibits the U.S. military from providing training and equipment to foreign security forces that commit human rights abuses, but it does not apply to U.S. intelligence agencies. Vermont Sen. Patrick Leahy said it should.
Why Congress Can’t Stop the CIA From Working With Forces That Commit Abuses
Ms. Cat’s Chronicles 