Sen. Joe Manchin (D-W. Va.) called on President Joe Biden to relax rules against U.S. oil production which have left the nation heavily dependent on Middle Eastern and Russian oil. Even after the invasion of Ukraine, which the president has condemned, the United States has continued to buy around 500,000 barrels of Russian oil per…
Manchin Calls On Biden to Ramp Up Domestic Production, Cut Ties With Russian Oil
March 1, 2022
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Business & EconomycommoditiesDemocratseconomic policieseconomyMarketsOilPolicies & ImpactsPoliticsRussiaSen. Joe ManchinUS
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OPEC+ Signals It Will to Stick to Plan Despite Ukraine Invasion
LONDON—Saudi Arabia on Tuesday reaffirmed its commitment to an OPEC+ agreement with Russia in the oil markets despite widening sanctions on Moscow and global outrage over its military assault on Ukraine. The Organization of the Petroleum Exporting Countries and its allies led by Russia—a group known as OPEC+—have been unwinding historic production cuts they instated…
Oil Prices Soar as Ukraine Conflict Stokes Supply Concerns
LONDON—Oil prices surged on Tuesday as concerns over supply disruptions after Russia’s invasion of Ukraine and related sanctions outweighed talks of a coordinated global crude stocks release. May Brent crude futures were up $5.14, or 5.25 percent, to $103.11 a barrel by 1145 GMT. The benchmark touched a seven-year high of $105.79 after the invasion…
Canada to Ban Russian Oil Imports Over Putin’s Invasion of Ukraine
Canadian Prime Minister Justin Trudeau announced that his government plans to ban imports of Russian crude oil intro the country, in response to Russian President Vladimir Putin’s full-scale invasion of Ukraine. Trudeau announced the move on Twitter, saying that the sector accounts for more than one-third of Russia’s federal budget revenue. He said the decision…
Russia Braces for Economic Hardship; Lawmakers Call on Biden to Boost U.S. Energy | NTD Business
Russians bracing for economic hardship as the Russian Ruble plunges and their key interest rate goes all the way to 20 percent. Sanctions continue to grow. U-S lawmakers calling on President Biden to boost domestic energy production, and reopen the Keystone XL Pipeline. We hear from a couple of them. And New York City soon easing up…
Oil Soars as Russian Energy Supply Fears Intensify
LONDON—Oil prices jumped on Monday as Western allies imposed more sanctions on Russia and blocked some Russian banks from a global payments system, which could cause severe disruption to its oil exports. Brent crude rose $2.65, or 2.7 percent, to $100.58 by 1255 GMT after touching a high of $105.07 a barrel in early trade….
Gas Prices Expected to Skyrocket, China Will Have Cheap Fuel
February 27, 2022
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ChinaEurope-China RelationsGasInternational RelationsOilOpinionRussiaThinking About ChinaUkraineUS-China relations
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News Analysis Petrol prices in the United States and around the world have hit highs not seen since 2014. With the Russian invasion of Ukraine resulting in decertification of the Nord Stream 2 pipeline and the subsequent Western sanctions, prices are expected to climb even higher, but China will not have to pay the price….
Fake ‘Environmentalism’ Fueled the Ukraine War
February 25, 2022
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Business & EconomyeconomyEuropeExecutive BranchOilOpinionPoliticsRussiaRussia-Ukraine WarUkraineUSUS NewsViewpointsWorld
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Commentary It’s tempting to laugh at Biden’s climate czar and devoted private jet customer John Kerry who complained to BBC Arabic that the Ukraine War could “distract the world from the climate change crisis and produce ‘massive emissions’ that will negatively impact the globe.” Only it’s actually tragic—and not for the environment. The truth is…
Oil Prices Take Breather as Russia Advances Further on Ukraine
LONDON—Oil prices slipped on Friday, after sharp rises in the session, on concern over potential global supply disruptions from sanctions on major crude exporter Russia. The April Brent crude futures contract was down 33 cents, or 0.3 percent, to $98.75 a barrel at 1045 GMT, after climbing to as high as $101.99. The more active…
New Sanctions on Russia Don’t Block Russian Oil and Gas
February 24, 2022
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New U.S. sanctions released on Feb. 24, following the Russian invasion of Ukraine, don’t directly block Russian oil and gas imports. “American oil and gas companies should not—should not—exploit this moment to hike their prices to raise profits,” U.S. President Joe Biden said in a televised speech announcing the sanctions. “In our sanctions package, we…
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