President Joe Biden’s administration on Friday postponed oil and gas lease sales that were slated to take place next month to comply with a recent executive order he issued. Biden last month ordered the Department of the Interior to pause new oil and natural gas leases on public lands or in offshore waters, pending completion…
Oil Jumps 2 Percent, Hits Highest in Year as Producers Limit Supply
NEW YORK—Oil prices rose more than 2 percent on Tuesday, reaching their highest in 12 months after major producers showed they were reining in output roughly in line with their commitments. The U.S. and global benchmarks rallied as optimism about more U.S. economic stimulus added to market bullishness from supply cuts. Brent crude was up…
Happy Days Are Here Again—for Beijing and Moscow
Commentary You could almost say Chinese diplomat Yang Jiechi was wasting his time when—speaking at a virtual event hosted by the National Committee on U.S. China relations— he warned “The United States should stop its interference in the affairs of Hong Kong, Tibet and Xinjiang.” The Obama-Biden-Harris administration (let’s call it what it really is)…
NTD Evening News Full Broadcast (Jan. 29)
A Congressman calls on President Joe Biden to end abortion, the Texas Governor says the state is “prepared to fight back” against Biden’s actions targeting oil and gas, and Biden faces scrutiny for signing a record number of executive orders in a short time.
US Oil Refiners Set for Worst Earnings Quarter of the Pandemic
NEW YORK—U.S. refiners are girding for a painful slate of fourth-quarter earnings, reflecting the pressure of rising crude prices, weak demand due to renewed COVID-19 travel restrictions, and higher costs of associated with blending of renewable fuels into their products. Seven U.S. independent refiners are projected to post an average earnings-per-share loss of $1.51, down…
GOP Reps Condemn Keystone Cancellation, as Dems Stay Silent
President Joe Biden’s cancellation of the Keystone XL Pipeline construction permit approved by his predecessor is drawing heavy fire from congressional Republicans. “President Biden’s decision to rescind an essential permit for the Keystone XL pipeline puts thousands of present and future union jobs at risk and undermines the trust of our friends and allies in…
Keystone XL Oil Pipeline Halted After Biden Revokes Permit
The long-disputed Keystone XL pipeline’s construction was halted Wednesday after President Joe Biden revoked the construction project’s permit. Keystone XL President Richard Prior said over 1,000 jobs will be eliminated in the coming weeks. “We will begin a safe and orderly shut-down of construction,” he said in a statement to The Associated Press. According to…
Earth to Joe Biden: Canceling Keystone XL Pipeline Is a Gift to China and Russia
Commentary Joe Biden’s plans to cancel the Keystone XL Pipeline is a gift to someone. The radical green groups for sure: they have opposed the oil link since its inception. The trucking and railroad industry will benefit, too, because once the pipeline is stopped, then the oil will be transported in and around America by…
Oil Expected to See a More Stable 2021 After 2020’s Roller Coaster
On the cusp of 2021, the price of oil caught a bit of a tailwind, though going forward, a lot depends on how vaccinations and the return to a normal economy unfold
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