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What led the US to approve the biggest-ever oil release from the SPR?
April 4, 2022

What led the US to approve the biggest-ever oil release from the SPR?

Russian playwright Anton Chekhov’s advice on writing applies also to oil, where the US strategic petroleum reserve (SPR) has long loomed over the market, but rarely been used. Now US President Joe Biden intends to give the market both barrels.

Oil sees biggest weekly loss in 2 years, US crude below $100 as Biden releases reserves
April 2, 2022
Source: Times of Oman

Oil sees biggest weekly loss in 2 years, US crude below $100 as Biden releases reserves

Oil markets entered April with their worst weekly loss in two years as the Biden administration announced the largest ever crude reserve release that sent the benchmark US price below the key $100-per-barrel support.

USD/INR Price News: Bulls recapture 76.00 on softer oil prices, US NFP eyed
April 1, 2022
Source: FX Street

USD/INR Price News: Bulls recapture 76.00 on softer oil prices, US NFP eyed

The USD/INR pair has reclaimed 76.00 amid falling oil prices after US President Joe Biden announced a release of one million barrels per day for six months out of their Strategic Petroleum Reserve (SPR) from May.

US Pres. Biden team weighs a massive oil release to combat inflation, oil heavily offered
March 31, 2022
Source: FX Street

US Pres. Biden team weighs a massive oil release to combat inflation, oil heavily offered

US Pres. Biden's team weighs a massive oil release to combat inflation and oil is heavily offered as the administration figures to release 1 million barrels of oil per day for months. The total release may be as much as 180 million barrels, the people said.

Not just oil and gas: 32 nations rely on Russia for nuclear power
March 21, 2022

Not just oil and gas: 32 nations rely on Russia for nuclear power

As Western nations look for ways to reduce their reliance on Russian oil and gas, another aspect of the Ukraine crisis has received less attention: Most of the 32 countries that use nuclear power rely on Russia for some part of their supply chain.

ConocoPhillips CEO: Not much conversation between oil industry and Biden Administration
March 9, 2022
Source: Fox Business

ConocoPhillips CEO: Not much conversation between oil industry and Biden Administration

Until Russia invaded Ukraine there wasn’t much conversation taking place between the energy industry and the Biden Administration. "I think it's starting to ramp up, unfortunately, I couldn’t have said that two or three weeks ago.

Crude oil price climbs on growing fears of conflict over Ukraine
Feb. 22, 2022
Source: Energy World

Crude oil price climbs on growing fears of conflict over Ukraine

U.S. and European officials condemned the moves, but a Biden administration official said Russia's military action did not as yet constitute an invasion that would trigger a broader sanctions package.

Top Headlines: Biden Will Work Like the Devil to Bring Gas Prices Down
Feb. 21, 2022
Source: Rigzone

Top Headlines: Biden Will Work Like the Devil to Bring Gas Prices Down

During remarks on his administration’s work to lower healthcare costs recently, which were made at Germanna Community College in Virginia, U.S. President Joe Biden said he was going to work like the devil to bring gas prices down.

ESG And The Dangerous Structural Increase In The Price Of Oil
Feb. 14, 2022
Source: Energy World

ESG And The Dangerous Structural Increase In The Price Of Oil

Americans are understandably blaming the Biden administration for surging energy prices: “Pain at the pump drives Biden’s suffering in the polls.”

"Biden’s Gulf of Mexico offshore oil lease plan voided by US judge "
Jan. 28, 2022

"Biden’s Gulf of Mexico offshore oil lease plan voided by US judge "

"The sale of offshore oil and gas leases on more than 80 million acres in the Gulf of Mexico was canceled by a U.S. judge who ordered regulators to take a harder look at the impact on climate change. U.S. District Judge Rudolph Contreras in Washington, D.C., vacated the lease sale in a 67-page decision, issued Thursday.

Why Biden Can’t Put A Cap On Oil Prices
Jan. 24, 2022
Source: Oil Price

Why Biden Can’t Put A Cap On Oil Prices

Oil prices hit the highest levels since October 2014 this week, prompting renewed pledges from the U.S. Administration to do what it can to relieve prices at the pump for Americans. Oil traded even higher this week than it did in November 2021. Back then,

Asking OPEC to drill more is 'lunacy' after being energy independent: Mike Taylor
Nov. 27, 2021
Source: Fox News

Asking OPEC to drill more is 'lunacy' after being energy independent: Mike Taylor

MIKE TAYLOR: "I don't even know where to begin to start. Here in New York, my family, we're a propane gas and heating oil company. We've been in business for over 54 years and I've never seen consumers put in the crunch they're in right now. We're seeing home heating oil prices, gasoline and diesel are up 50% to 60% since last year. Propane gas is up over 70. Natural gas futures for next winter are trading at 117% of where they were a year ago. A year ago, we were energy independent. Now we're asking OPEC to please drill more. It's absolute lunacy what we've done here in this country."

Are High Gas Prices Here To Stay?
Nov. 24, 2021
Source: Newsy

Are High Gas Prices Here To Stay?

Gas prices are breaking the bank in the U.S. and next door in Canada, with the country putting gas restrictions in place and prompting panicked stockpiling. The questions many have are: Why are gas prices so high, what would help them come down and when will that happen?

Biden seeks cheaper oil: Opec and Russia have been put on the defensive after landmark challenge, says ALEX BRUMMER
Nov. 24, 2021
Source: Daily Mail

Biden seeks cheaper oil: Opec and Russia have been put on the defensive after landmark challenge, says ALEX BRUMMER

Joint action by major economies is comparatively rare. So the decision of big oil consumers – the US, China, India, Japan, South Korea and Britain – to challenge OPEC and Russia is a signal moment. Past coordinated actions include the rebuilding of the global economy by the G20 after the financial crisis and emergency interest rate cuts by the US, Britain and the European Central Bank at the start of Covid-19.

President Biden’s Nuclear Option Against OPEC
Nov. 23, 2021
Source: Oil Price

President Biden’s Nuclear Option Against OPEC

It began amicably, with a request from President Biden to OPEC countries to consider boosting their crude oil production because U.S. retail fuel prices were rising fast. Things escalated quickly, with the request becoming a demand and later a veiled threat that unless OPEC did what the White House wanted it to do, there would be consequences.

On The Money — Biden puts oil industry on notice
Nov. 18, 2021
Source: The Hill

On The Money — Biden puts oil industry on notice

Happy Wednesday and welcome to On The Money, your nightly guide to everything affecting your bills, bank account and bottom line. Subscribe here: thehill.com/newsletter-signup. Today’s Big Deal: President Biden is pushing for a probe of high gas prices. We’ll also look at the House’s prospects for a Friday vote on the Build Back Better plan and a very angry letter from former President Trump.

Shale Making Too Much Money to Rescue Biden
Nov. 17, 2021
Source: Rigzone

Shale Making Too Much Money to Rescue Biden

America’s right-leaning oil industry has little political will to help President Joe Biden lower energy prices by raising production. But there’s another reason why Texas wildcatters are refusing to help: the status quo is just so profitable.

Biden clears 800MW Vineyard for lift-off
May 12, 2021
Source: Renews.Biz

Biden clears 800MW Vineyard for lift-off

The White House has approved Avangrid and CIP’s 800MW Vineyard offshore wind project off the coast of Massachusetts. The project will be the first large-scale offshore wind project in the US and will be located 12 nautical miles from Nantucket. It will comprise 84 turbines arranged in a north-south and east-west orientation, with a minimum spacing of one nautical mile between each turbine.

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