American fossil fuel companies responded on Wednesday to President Joe Biden’s June 14 letter that accused them of profiteering and driving up gas prices during a “time of war.” Biden’s letter blamed gas prices, which have skyrocketed from $2.53 per gallon when he took office to $5.00 today, on “Putin’s war of aggression” and greedy…
Biden Bashes Oil Companies for Going Along with His Plan to ‘End Fossil Fuel’
June 17, 2022
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Biden Tells Big Oil That Record Profits ‘Not Acceptable’ Amid Soaring Gasoline Prices
June 15, 2022
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President Joe Biden is looking to jawbone U.S. oil companies into boosting gasoline and diesel supply amid soaring prices, calling on executives to expand refining capacity while blasting refiners for enjoying record profits while American drivers face pain at the pump. Biden made the remarks in a letter to oil executives seen by The Epoch…
Manufacturing Association Maintains Climate Litigation Is Federal Matter Not One For States
April 14, 2022
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The Manufacturers’ Accountability Project (MAP) has criticized the United States 4th Circuit Court of Appeals’ April 6 ruling that remanded a climate change lawsuit—lodged by Baltimore against multinational oil companies—to state rather than federal courts for resolution. The unanimous ruling by a three-judge panel “misses the real issue here,” MAP special counsel Phil Goldberg said…
This Day in Market History: Rockefeller Founds Standard Oil
Each day, Benzinga takes a look back at a notable market-related moment that happened on this date. What Happened? On Jan. 10, 1870, John D. Rockefeller, Sr. founded the Standard Oil Company. Where Was the Market? Neither the S&P 500 nor the Dow Jones Industrial Average was around yet. What Else Was Going On in the…
IBM, Amazon Partner to Extend Reach of Data Tools for Oil Companies
International Business Machines Corp. and Amazon.com Inc.’s Amazon Web Services said on Monday they would work together to extend the reach of a set of tools that oil companies use to manage disparate types of data. Amazon in 2018 worked with Royal Dutch Shell to create a technology to turn data from more than a…
John Kerry Financial Disclosures Show Millions in Income From Stocks, Including Oil Companies
John Kerry, special presidential envoy on climate at the State Department, has disclosed millions of dollars in income from stocks—including of oil companies—that he liquidated after he assumed office in January, according to financial disclosure forms obtained by media outlets. Under federal ethics laws, most political appointees are required to publicly disclose their current and…
Top Oil Companies Sharply Slow Search for New Fossil Fuels
The top five Western oil and gas companies sharply slowed the search for new fossil fuel resources last year, data from Oslo-based consultancy Rystad Energy showed. The five companies are Royal Dutch Shell, BP (British Petroleum), France’s Total, Exxon Mobil, and Chevron. Acquisitions of new onshore and offshore exploration licenses for the top five Western…
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