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Three Of The Four Largest US Oil And Gas Producers Are Facing Multimillion- And Multibillion-Dollar Losses

Three of the largest oil companies in the United States are feeling the pain amid historically low crude prices, economic lockdowns, and a pandemic that has killed tens of thousands of Americans. Big oil is taking a big hit, but smaller oil companies might bear the brunt as the industry grinds to a halt. ConocoPhillips and Phillips 66 are the ...

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Analysts Explain How Restarting The Economy Can Help Prevent Big Oil’s ‘Destruction,’ Save Energy Jobs

Energy analysts say oil markets will continue their upheaval until lockdowns abate and demand picks up, meaning the U.S. could continue to lose millions of barrels of oil a day through spring.  President Donald Trump, meanwhile, says the United States will top off the Strategic Petroleum Reserve, allowing the government to buy as much as 75 million barrels of oil ...

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‘Uncharted Territory’: Energy Analysts Worry Oil Prices Could Fall Below Zero, Forcing Producers To Radical Measures

Analysts worry Saudi Arabia, Russia and other oil-producing nations’ deal curbing oil production might not prevent crude prices from falling below zero, putting the market in uncharted territory. President Donald Trump played a big role in getting Russia and the Organization of the Petroleum Exporting Countries to drop output, bringing production to 9.7 million barrels a day in May. Still, ...

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Trump’s Attempt To End Russia’s Oil Wars Keeps Evolving As Americans Enjoy Rock Bottom Gas Prices

President Donald Trump’s attempts to rescue the oil industry amid record low crude prices is evolving as he floats potential tariffs against Russia and Saudi Arabia while flouting low gas prices. Trump suggested during an April 3 White House briefing with oil executives that he is considering tariffs on Russia and Saudi Arabia as they increase oil output amid a ...

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Ted Cruz: Russia’s Oil War Is Designed To Bankrupt Small Independent American Energy Companies

Sen. Ted Cruz said Monday night that Russia’s decision to increase oil output amid a pandemic is a full frontal assault on U.S. energy companies. One of the best ways to end Russian aggression on energy issues is to apply pressure on Saudi Arabia, forcing the country to ease up on crude output, the Texas Republican said on Fox News. ...

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Democrats :: War for Oil

Does anyone recall the massive uprisings by Democrats chanting, “War for oil?” The peculiar thing about this Democrat Party faux outrage against Republicans, is America never got any oil from the wars. Oh well, like all Democrats and their media sycophant outrages, facts and truth never matter, right? It’s always about finding an issue that allows them to profit off ...

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Largest Oil Refinery On The East Coast Explodes, Rocks Houses Miles Away

The largest oil refinery on the Eastern Seaboard experienced an explosion Friday morning that rocked houses miles away and even knocked the art off of Philadelphia residents’ walls. Fire crews battled flames at Philadelphia Energy Solutions after a vat of butane ignited and exploded around 4 a.m., reported NBC Philadelphia. No one was injured because workers were not near the ...

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Trump Administration Shelves Plan To Dramatically Expand Offshore Drilling

Offshore oil rig

The Interior Department has put plans to open more offshore areas to oil and gas drilling on hold indefinitely, according to Interior Secretary David Bernhardt. Bernhardt said the decision to shelve offshore drilling plans was made after a federal court in Alaska ruled against an executive order President Donald Trump issued to open Arctic waters to energy exploration. “By the ...

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Liz Warren Unveils Her Plan For Federal Lands: Ban Drilling, Make National Parks Free

Senator Elizabeth Warren pledged to ban new fossil fuel production on federal lands if elected president. Warren also said she’d make all national parks free to the public, eliminating entrance fees. Conservatives criticized the plan, saying it would threaten hundred of thousands of jobs. Massachusetts Senator and 2020 presidential candidate Elizabeth Warren unveiled her plan for the 640 millions of ...

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Trump’s Latest Executive Action Could Alleviate A Huge Problem For The World’s Most Productive Oilfield

The Permian basin, now the world’s most productive oil and gas field, is booming — so much so that there’s not enough pipeline capacity to carry out all the natural gas it produces, meaning much of it is flared. How much? Some 553 million cubic feet per day, or enough to power every home in Texas, according to data from ...

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One Question Remains As The US Moves Closer To Drilling In ANWR: How Much Oil Is There?

ANWR could hold massive amounts of oil and natural gas, but findings from the only well drilled in the refuge have been kept secret for decades. The New York Times recently reported the test well findings were disappointing, but experts say one test well doesn’t tell the whole story. “I know for a fact it’s an oily area,” said a ...

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Colorado Democrats Pass Bill To Crack Down On A Pillar Of State’s Economy — Oil And Gas Drilling

Legislation is headed to Colorado Governor Jared Polis’ desk that would completely overhaul state permitting of oil and gas wells that’s got Republicans and industry worried. The bill, which passed out of the state Senate on Wednesday in a party-line vote, changes the make-up and mission of the Colorado Oil and Gas Conservation Commission, the state’s drilling regulatory body. Once ...

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Climate Crusaders Are Wrong About Norway’s Oil Divestment Proposal

Climate crusaders celebrating Norway’s proposal to divest its sovereign wealth fund from oil and gas stocks should pause before popping the carbon-neutral champagne. In fact, the proposed divestment is limited to only include companies solely involved in oil and gas exploration, not integrated majors like BP, Exxon and Equinor, Norway’s state-owned oil giant. Norway’s proposal would affect about $40 billion ...

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Trump Warns Saudi Arabia: ‘Relax And Take It Easy’ With Oil Price Hikes

President Donald Trump told Saudi Arabia, Russia and their oil cartel partners to “take it easy” on efforts to tighten supplies and raise the price of crude. “Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike – fragile!” Trump tweeted Monday morning in a clear signal to the Saudi-led Organization of ...

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