The modern world cannot survive and thrive without a productive petroleum industry
Facebook owner Meta Platforms Inc. has warned Canada it is prepared to block the sharing of Canadian news content—like it did in Australia last year—unless the Liberal government amends legislation that would compel big digital companies to compensate domestic media outlets.
The legislation is under review by a parliamentary committee, and lawmakers voted this week to stop hearing further testimony from witnesses. Facebook said it wasn’t given an opportunity to testify, so late Friday it issued a statement outlining the company’s concerns with Canada’s proposed rules—and a warning.
Oil producers announced Thursday they have launched the signature gathering process to stop a new oil well bill, a measure they call a “political war on California’s energy workers and producers.”
Independent oil producers and workers are spearheading an effort to place a referendum on the 2024 ballot to repeal a law requiring 3,200-foot setbacks between new oil wells and certain areas.
A U.S. appeals court on Friday upheld the "social cost of carbon" calculation used by President Joe Biden's administration, which sharply boosts the price tag policy makers will put on the environmental impact of greenhouse gas emissions from that used by former President Donald Trump.
The St. Louis, Missouri-based 8th U.S. Circuit Court of Appeals said the plaintiffs, attorneys general from 13 states, including Missouri, Alaska and Montana, cannot rely on "generalized grievances" to challenge the metric absent a specific action taken by a federal agency.
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That will come through the release of 15 million barrels from the country's Strategic Petroleum Reserve (SPR), part of a 180-barrel initiative that the Biden administration started undertaking in May to curb soaring prices at the pump. The release will extend the program through the end of the year.
"Gas prices hit almost every family in this country and they squeeze their family budgets. When the price of gas goes up, other expenses get cut," Biden said. "That's why I have been doing everything in my power to reduce gas prices since Putin's invasion of Ukraine caused these prices to spike and rattle international oil markets."
"I don't know how he gets away with keep saying that he doesn't have anything to do with [high gas prices] when they've got everything to do with it," Neal Crabtree told FOX Business in an interview.
Crabtree — a member of an Arkansas pipeliners' union who had worked on the Keystone XL project in Nebraska — and hundreds other workers were laid off hours after the president took office on Jan. 20, 2021. Shortly after his inauguration, Biden canceled the federal permit for the Keystone XL pipeline, a project that would have transported 830,000 barrels of oil per day from Canada to Texas.
Biden's executive order nixing the pipeline stated that the U.S. would prioritize the "development of a clean energy economy" instead of fossil fuel production.
The US has told OPEC that a proposed cap on Russian oil prices won't later be repurposed to also target the cartel, a Treasury official told Reuters.
The official also said that the price cap plan isn't the beginning of a buyers' cartel that's meant to counter OPEC's sway over oil markets.
The US reassurances could help remedy increasingly strained relations between the US and de facto OPEC leaders Saudi Arabia.
Earlier this month, OPEC and allies non-member allies like Russia slashed its oil output quota by 2 million barrels a day despite pleas from Washington to boost production.
President Joe Biden has just announced his plan to release even more oil, 15 million barrels, from the nation's Strategic Petroleum Reserve. That is the last portion of the 180 million barrels he authorized for release in March, which was the biggest withdrawal ever from the reserve that is supposed to ensure a supply of oil in case of a national emergency.
The San Francisco parks department blamed the exorbitant price tag on skyrocketing construction costs, the permitting process and other fees.
Local officials were set to gather on Wednesday in San Francisco's Noe Valley Town Square to celebrate their latest win: a single public toilet that will cost as much as $1.7 million to build and won't be completed until 2025.
But the celebration was canceled after a San Francisco Chronicle columnist highlighted the "mind-boggling" and "maddening" details of the project.
California Assemblyman Matt Haney told the newspaper that he now considers the price tag "inexplicable."
A new rooftop wind harvesting device is capable of generating 50 per cent more electricity than solar panels for the same cost, according to its inventors.
A much smaller footprint means a single unit can also provide the same amount of power as up to 16 solar panels.
The motionless design, created by Texas-based startup Aeromine Technologies, replaces the blades found in traditional wind turbines with an aerodynamic system that harvests energy from the airflow above a building.
High gas prices are result of 'idiotic policies,' not price gouging, Institute for Energy Research senior economist tells FOX Business.
Economists and oil market experts sharply criticized Gov. Gavin Newsom, D-Calif., for his recent rhetoric blaming "greedy oil companies" for high gasoline prices in California.
"Gas prices are up while oil companies rake in RECORD profits," Newsom tweeted Monday. "It. Does. Not. Add. Up. We cannot continue to allow greedy oil companies to rip us off at the pump.
The Treasury Department announced Tuesday that it is moving to amass data from private insurance companies to assess the financial risks of climate change on homeowners across the country.
Missouri withdrew $500 million of pension assets from BlackRock Inc., criticizing the firm for prioritizing ESG concerns over shareholder returns.
“We should not allow asset managers such as BlackRock, who have demonstrated that they will prioritize advancing a woke political agenda above the financial interests of their customers, to continue speaking on behalf of the state of Missouri,” state Treasurer Scott Fitzpatrick said Tuesday in a statement.
