The Democrats’ Inflation Reduction Act (IRA) will see Americans forking out more for electricity and gasoline, experts have warned. President Joe Biden on Tuesday signed the Democrat-backed IRA into law as the country battles with soaring inflation, which stood at an annual rate of 8.5 percent in July. Democrats say the $700 billion spending bill, which includes nearly $80 billion…
Democrats’ Inflation Bill Will ‘Absolutely’ Raise Gas, Electricity Prices for Americans, Expert Says
Biden Administration, Wall Street Impede New Oil and Gas Investments
The oil and gas industry is looking to the future with caution, and plans for expanding production of fossil fuels appear to be limited. At the Enercom Energy Investment conference in Denver this week, the oft-repeated mantra among CEOs was that they will use the bulk of their profits to pay down debt and return…
Gas Prices Dip Just Below $4 for the First Time in 5 Months
Gasoline prices dipped to just under the $4 mark for the first time in more than five months—good news for consumers who are struggling with high prices for many other essentials. AAA said the national average for a gallon of regular was $3.99 on Thursday. Prices have dropped 15 cents in the past week and…
Community Demands Answers Over Girl’s Death in London Gas Explosion
A young girl killed in a gas explosion in south London has been named locally as Sahara Salman as the community demanded answers over her “unnecessary” death. Sahara, who was four-years-old, died after a terraced house collapsed in Galpin’s Road, Thornton Heath, shortly after 7am on Monday. Three other people were also seriously injured in…
Ukraine Halted Oil Flows to Europe Over Payment Issue, Russia’s Transneft Says
MOSCOW—Ukraine has suspended Russian oil pipeline flows to parts of central Europe since early this month because Western sanctions prevented it from accepting transit fees from Moscow, Russian pipeline monopoly Transneft said on Tuesday. Benchmark Brent crude oil jumped by $2 per barrel to trade near $98 as the news added to concerns about reduced…
Goldman Sach Predicts Gas Prices to Rise Back to $4.35 a Gallon
Despite gas prices having dropped about 70 cents on average over the past month, investment bank Goldman Sachs predicted prices will soon rise again. Gasoline prices will likely rise to roughly $4.35 per gallon by the end of 2022, Goldman Sachs analysts said in a report. Goldman analysts also predicted a price increase in 2023, rising to…
Goldman Sachs: Gas Prices to Rise Back to $4.35 a Gallon
Despite gas prices having dropped about 70 cents on average over the past month, investment bank Goldman Sachs predicted prices will soon rise again. Gasoline prices will likely rise to roughly $4.35 per gallon by the end of 2022, Goldman Sachs analysts said in a report. Goldman analysts also predicted a price increase in 2023, rising to…
Biden EPA Announces ‘Flyovers’ of Key US Oil- and Gas-Producing Region
August 5, 2022
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The U.S. Environmental Protection Agency (EPA) said it will conduct “flyovers” of the Permian Basin region in Texas and New Mexico to “survey oil and gas operations to identify large emitters of methane” amid the Biden administration’s climate policy initiative. “The flyovers are vital to identifying which facilities are responsible for the bulk of these…
‘The Turbine Works:’ Germany’s Scholz Points Finger at Russia in Energy Row
August 3, 2022
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MUELHEIM AN DER RUHR, Germany—German Chancellor Olaf Scholz on Wednesday said Russia had no reason to hold up the return of a gas turbine for the Nord Stream 1 pipeline that had been serviced in Canada but has since been stranded in Germany in an escalating energy standoff. Standing next to the turbine on a…
LIVE NOW: Pelosi Lands in Taiwan Despite China Threats; Biden Says ‘Justice Has Been Delivered’
President Biden says the leader of Al-Qaeda has been killed. The terrorist, Ayman al-Zawahiri, was Osama bin Laden’s right hand man. A former diplomat compares the deadly strikes on these two masterminds of terror. Tensions ahead of House Speaker Nancy Pelosi’s expected trip to Taiwan. China, calling the possible visit “dangerous”, while the United States…
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