A group of GOP attorneys general filed a lawsuit against the Biden administration over its executive action pausing new oil and gas drilling on federal land. In their lawsuit, filed (pdf) on Wednesday in the District Court for the Western District of Louisiana, 13 attorneys general sought to end the suspension of issuing new oil…
14 States Sue Biden Administration Over Oil and Gas Leasing Executive Order
14 States Sue Biden Administration Over Oil, Gas Leasing Moratorium
A group of Republican attorneys general filed a lawsuit against the Biden administration over its executive action pausing new oil and gas drilling on federal land. In their lawsuit, filed (pdf) on March 24 in the District Court for the Western District of Louisiana, 13 state attorneys general sought to end the suspension of issuing…
NTD Business Full Broadcast (Mar. 23)
Fresh off signing the $2 trillion relief bill, President Biden sets his sights on an even larger one. This one to fund infrastructure projects. But how will it be paid for? New real estate agents flooding the market. So how is it for them now that housing supply is down and prices are up? Oil…
Oil Giant Saudi Aramco Sees 2020 Profits Nearly Halved to $49 Billion
DUBAI, United Arab Emirates—Saudi Arabia’s state-backed oil giant Aramco announced Sunday that its profits nearly halved in 2020 to $49 billion, a big drop that came as the coronavirus pandemic roiled global energy markets. Saudi Arabian Oil Co. released its annual financial results a year after the pandemic sent the price of oil crashing to…
Coalition of Australian Oil and Gas Giants Face $52.9 Billion Decommission
The ageing offshore oil and gas monuments stood proud over the vast Australian coast, where they played their part in powering the nation—now, they face a destiny of destruction. The Centre of Decommissioning Australia (CODA) announced on March 10 that it had set a target that will see the expensive oil and gas infrastructure removed…
US to Launch Review of Future of Federal Oil Leasing Program Under Biden’s Order
President Joe Biden’s administration on Tuesday announced its upcoming review of the federal oil and gas program, per the president’s executive order. The Interior Department said it would host a forum on March 25 that will feature industry representatives, labor and environmental justice organizations, natural resource advocates, and other experts. “The federal oil and gas…
Gas Price Surge Fueled by Supply Squeeze, But ‘Hostile’ Biden Policies Could Drive Them Higher: Experts
While experts say the current gas price spike is mostly driven by demand recovering faster than the winter storm-squeezed supply, others warn “hostile” White House policies are likely to drive them even higher in the long term. The average price per gallon in the United States as of Tuesday morning was $2.82, up 34 cents…
Gas Price Surge Fueled by Supply Squeeze, But Biden Policies Could Drive Them Higher: Experts
While experts say the current gas price spike is mostly driven by demand recovering faster than the winter storm-squeezed supply, others warn “hostile” White House policies are likely to drive them even higher in the long term. The average price per gallon in the United States as of Tuesday morning was $2.82, up 34 cents…
Major Oil Shipping Port Targeted in Drone Attack, Missile Targets Aramco Facility: Saudi Officials
Officials for the Ministry of Energy in Saudi Arabia stated that one of its oil tank yards in Ras Tanura Port was attacked by an unmanned drone. A spokesperson for the Ministry of Energy said a petroleum tank farm in the port, which is one of the largest oil shipping ports in the world, was attacked…
Israel Finds Ship Behind Oil Spill Off Its Coast, Ministry Says
TEL AVIV—Israel has located the ship responsible for an oil spill that blackened its beaches with tar last month, the environment ministry said on Wednesday, without giving details. The country’s investigation has focused on an unidentified ship that passed about 50 km (30 miles) off the coast on Feb. 11 as the likely source of…
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