Tag Archives: gas

Long before the re-emergence of the ‘Pan-Arab’ ideology now increasingly evident among several leading Middle Eastern countries, Qatar had sought to go its own way, neither aligning fully with the U.S.-led power bloc on the one side nor the China/Russia-lead bloc on the other. This is in part a reflection of the hard facts that it shares the huge North Dome/South Pars natural gas reservoir with China/Russia’s key proxy in the region, Iran, and is geographically positioned directly… Source link

With gas prices averaging nearly $4.50 per gallon, distraught drivers might feel they’re due for a break. But gas prices seem likely to go higher, and maybe break $5 on average, as Russian oil disappears from the market and producers struggle to keep up with demand. “My expectation is it’s going to get worse for consumers,” Vicki Hollub, CEO of Occidental Petroleum, said at a May 13 online forum sponsored by the Dallas Federal Reserve Bank. “Spare capacity is at a multi-decade low…. Source link

(Bloomberg) — Russia will cut off the gas to Poland and Bulgaria on Wednesday in a major escalation in the standoff between Moscow and Europe over energy supplies and the war in Ukraine. Most Read from Bloomberg Moscow is making good on a threat to halt gas flows to countries that refuse President Vladimir Putin’s new demand to pay for the fuel in rubles. The European Union has rejected the move in principle but now payment deadlines are starting to fall due, governments across Europe need… Source link

Russian President Vladimir Putin.Pool Sputnik, AP Andrei Illarionov, Putin’s former chief economic adviser, was interviewed by the BBC. He said Putin would likely halt the Ukraine war if the West stopped buying Russian oil and gas. Many Western nations remain heavily reliant on Russian energy exports. Vladimir Putin’s former chief economic adviser has suggested that Russia would halt military operations in Ukraine “within a month or two” if Western countries stopped buying Russian oil and gas. In… Source link

The Portland Trail Blazers have lost 20 of their last 22 games. They’ve dropped 10 in a row, covering just once. If tanking was an art form, they’d be Pablo Picasso. Their latest one-sided piece was a 50-point thrashing at the hands of the Mavs as 19.5-point underdogs. Today, they’ll be 19.5-point dogs on BetMGM again as they end the season at home versus the Utah Jazz. R.I.P. City Portland’s opening night starting lineup of Damian Lillard, CJ McCollum, and Jusuf Nurkic is a distant memory…. Source link

Biden administration officials have been publicly and privately cajoling energy executives to increase production and help lower gasoline prices, which are well above $4 per gallon. Asking won’t work, however. Even if they ask nicely. Oil and natural gas producers base drilling decisions on economic factors and profitability estimates, not on requests from politicians. If President Biden wanted to, his administration could adjust federal policy in ways that would make fossil fuel… Source link

President Biden signing off on an oil release from the Strategic Petroleum Reserve (SPR) to cool elevated prices may have some effect, but not a ton, warns Goldman Sachs. “Conceptually, such a release would help the oil market rebalancing in 2022, increasing supply by 1 millions barrels per day for six months, for example. This would reduce the amount of necessary price-induced demand destruction, the sole oil rebalancing mechanism currently available in a world devoid of inventory buffers… Source link

There’s been a lot of chatter recently among California lawmakers about a gas rebate as prices at the pump are among the highest in the country. “If you look at all the regulations, taxes, and fees associated with gas in California, we pay $1.27 more [per gallon] than every other state in the nation. It’s really sad,” Republican Assemblymember James Gallagher said on Yahoo Finance Live (video above). “We have a double whammy, not only do we have high gas prices, but we have all these… Source link

European stocks: US President Joe Biden gives a joint press statement with European Commission President Ursula von der Leyen in Brussels, Belgium. Photo: Evelyn Hockstein/Reuters European stock edged higher on Friday as US president Joe Biden and European officials announced plans to send US natural gas to Europe. The FTSE 100 (^FTSE) was up 0.1% to 7,482, while the French CAC (^FCHI) was 0.1% lower. The DAX (^GDAXI) was up by 0.2% as trading closed in Europe. Across the pond, stocks stalled… Source link

A former Georgia wide receiver was arrested on Wednesday and charged with the 2021 murder of an Athens-area gas station attendant, the Oconee County Sheriff’s Office announced, via the Atlanta Journal-Constitution. Ahkil Crumpton was arrested and charged after police said he shot and killed 23-year-old Elijah James Wood at a RaceTrac gas station early on March 19, 2021. Crumpton, a Philadelphia native who has been under investigation since last month, allegedly was dressed in all black with… Source link