Category: higher oil prices

Carbon Capture in Oil Industry Will Make Renewables ‘Price Competitive’: John Kerry

April 24, 2023
Business & Marketscarbon capture and storageclimate alarmismeconomyenergyhigher oil pricesJohn KerryPolicies & ImpactsUS
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John Kerry, the U.S. special presidential envoy for climate, is arguing that renewable energy will become “far more price competitive” provided the oil and gas energy industry is forced to follow expensive carbon capture and storage requirements. “It is imperative that we meet our [climate] goals. And that will require capturing emissions which are the…

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Biden Demand Oil Companies ‘Should Be Drilling More Than They’re Doing Now’

November 4, 2022
Business & Marketsclimate change agendaeconomyenergyfossil fuelshigher oil pricesinflationJoe Bidenoil companiesPolicies & ImpactsPoliticsUS
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President Joe Biden once again placed the blame of the energy crisis on oil companies during a recent speech at a rally, demanding that they drill more. In a speech at a rally for Democratic Party on Nov. 3, Biden insisted that his administration’s actions are bringing down gas prices after Russia’s Ukraine invasion sent…

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Biden Demands Oil Companies ‘Should Be Drilling More Than They’re Doing Now’

November 4, 2022
Business & Marketsclimate change agendaeconomyenergyfossil fuelshigher oil pricesinflationJoe Bidenoil companiesPolicies & ImpactsPoliticsUS
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President Joe Biden once again placed the blame of the energy crisis on oil companies during a recent speech at a rally, demanding that they drill more. In a speech at a rally for Democratic Party on Nov. 3, Biden insisted that his administration’s actions are bringing down gas prices after Russia’s Ukraine invasion sent…

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Goldman Sachs Analyst: ‘Incredibly Bullish’ on Oil, Upside Risk is ‘Tremendously High’

June 27, 2022
BullishBusiness & Marketscommoditieseconomyeuropean sanctions on russiaGoldman Sachshigher oil pricesMarketsRussian Oil TradeUS
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Oil prices are heading up in summer 2022 according to Goldman Sachs analyst Jeff Currie, who believes prices are being mainly driven by underinvestment in the sector. “The bottom line is the situation across the energy space is incredibly bullish right now. The pullback in prices we would view as a buying opportunity,” said Currie,…

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Biden Softening Stance on Saudi Arabia, May Visit Soon as Oil Prices Soar

June 13, 2022
Business & MarketsCrown Prince Mohammed bin SalmaneconomyExecutive Branchhigher oil pricesMiddle EastPoliticssaudi arabia journalistUSUS NewsWorld
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President Joe Biden is expected to make an announcement regarding a possible trip to Saudi Arabia as he looks at foreign assistance to abate the ever-increasing pain at the gas pump. When asked by reports during a conference on June 3 whether he was planning to visit Saudi Arabia, Biden replied that he was “not…

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Investment Banks Raise Oil Price Forecasts, Bank of America Targets $140 Barrel

June 9, 2022
Bank of AmericaBarclays BankBusiness & Marketscommoditieseconomyhigher oil pricesMarketsUBSUS
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Multiple investment banks have raised their crude oil price forecasts for the year, indicating a delayed respite from high prices. Bank of America analyst Paul Ciana pointed out in a note that West Texas Intermediate (WTI) oil has been trending bullish of late, suggesting that prices might move higher. WTI oil rose to $130 per…

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US Gas Prices Jump Again to Near Record Highs

May 9, 2022
American Automobile AssociationBusiness & Economyeconomygas pricesGasBuddyhigher oil pricesMarketsUSUS News
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Gas prices in America are once again moving along an upward trajectory, with Monday’s prices coming close to the record high seen in March. The average price of regular unleaded gas was $4.328 per gallon as of May 9, according to the American Automobile Association (AAA). The highest recorded average price was $4.331 per gallon…

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Supply Chain Pressures Affect Australian Manufacturers Steady Recovery

March 15, 2022
AustraliaAustralian Chamber of Commerce and IndustryBusiness & EconomyBusinesses in COVID-19higher oil pricesinflationInternationalmanufacturingReserve Bank of AustraliaWorld
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While Australian manufacturing has bounced back due to easing COVID-19 restrictions, the recovery faces another major hurdle, labour and material shortages on a scale not seen in almost 50 years. An Australian Chamber Of Commerce And Industry (ACCI)—Westpac survey (pdf) revealed that business conditions modestly improved in the early stages of 2022 despite supply chain…

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70 Percent of Americans Favor Increase in Domestic Oil, Gas Production: Rasmussen

March 10, 2022
Average gas priceBusiness & Economyeconomic policieseconomyExecutive Branchhigher oil pricesinflationMarketsPoliticsRussian Oil Tradeu.s. energy productionUSUS News
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A vast majority of Americans want the country to be energy independent, according to a recent poll by Rasmussen Reports, indicating increasing frustration with rising fuel costs and the impact it has on everyday expenses. Poll results show 70 percent of likely U.S. voters support a policy of boosting domestic oil and gas production to…

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Gas Prices Break Record Again, up 15 Percent in Weekly Growth

March 8, 2022
Biden administration energy policiesBusiness & Economycommoditieseconomic policieseconomyExecutive Branchgas priceshigher oil pricesinflationMarketsNew Sanctions on RussiaPoliticsRussian Oil TradeUSUS News
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The ongoing conflict between Ukraine and Russia has pushed up energy prices worldwide, with gasoline prices in the United States soaring to an all-time high on March 8. Critics have blamed the Biden administration’s insistence on diverting away from fossil fuels, a main contributor to the price hike. The average price of regular unleaded gas…

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