Both the European Union and the United States are firmly on the path to a net-zero economy. This much has been made clear by officials from both sides of the Atlantic. This is despite the EU’s hunt for more gas and the Biden administration’s calls for more oil production. Before net zero ambitions is achieved—if […]
Global ambitions to tackle climate change are being under discussion by rising concerns about energy security. This is according to a new report by RBC. This is why oil and natural gas are going to be used for quite a while. The Russian invasion of Ukraine has sent energy prices soaring. In effect, there are […]
The US Energy Secretary said on Monday U.S. oil and gas production is rising. It will continue to rise to make up for the 1 to 1.5 million barrels of oil per day. Moreover, it has been pulled off the market in the wake of Russia’s invasion of Ukraine. Jennifer Granholm told CNBC the boost […]
OKLAHOMA CITY – The price for gasoline is up nationwide as American consumers feel the squeeze from global sanctions against Russia. Basically, oil and gas production is affected. Last month, Oklahoma Gov. Kevin Stitt wrote a letter to President Joe Biden days after Russia invaded Ukraine, urging the administration to embrace domestic oil and gas […]
The US is planning to advance with onshore lease sales. This is a move that may mark the resumption of new oil and gas development on federal lands. The US Department of the Interior announced that the Bureau of Land Management (BLM) will issue notices. These notices are for the reformation of onshore lease sales. […]
Gas prices are finally dropping back to Earth. The price of a gallon of regular gas averaged an all-time high of $4.33 in the U.S. Prices had risen a staggering 22% between February 21 and March 14. This is the largest jump ever recorded in a three-week span. Now, the market is swinging the other […]
Domestic crude oil production edged upward last week, the United States Energy Information Administration (EIA) reported Wednesday. For the week ending April 1, U.S. crude oil production increased by 100,000 b/d. It is now at 11.8 million b/d, according to EIA’s latest Weekly Petroleum Status Report It was yet another weekly uptick in domestic oil […]
Triple-digit oil prices in the U.S. continued for the second month in a row. This is leading to increased operations and land deals in the nation’s most active oilfields in southeast New Mexico and West Texas. So what’s the current strategy in place to lower gas prices? The Permian Basin saw rising fossil fuel activity […]
Oil settled lower on Friday as members of the International Energy Agency (IEA) agreed to join in the largest-ever United States oil reserves release. This will surely result to oil prices ease. Both Brent and US crude benchmarks settled down around 13 percent in their biggest weekly falls in two years after US President Joe […]
The number of active oil wells in Colorado has nearly doubled in the last year. Is it a sign that high prices are bringing the industry back to life? What’s next with the Colorado oil production? Production in Colorado had fallen 11 percent in 2021, continuing a slide that began as the COVID-19 pandemic dramatically […]
