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US House Budget Bill Seeks More Than $1.5 Billion for Strategic Petroleum Reserve

A U.S. House committee released a budget proposal that includes more than $1.5 billion to replenish and maintain the Strategic Petroleum Reserve, and cancels a congressionally mandated sale, following huge sales from the facility in 2022. The proposal from the House Energy and Commerce Committee released late on Sunday contains $1.32 billion to purchase oil …

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California Drivers Are Paying Up as Refineries Disappear

Governor Gavin Newsom’s latest outreach to the Golden State’s oil companies may be too late to arrest a steady decline in gasoline production. By Nathan Risser Californians are accustomed to paying the highest gasoline prices in the US. That trend likely will continue because of the state’s reliance on a dwindling fleet of oil refineries. …

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Blackstone Is in Talks for New Mexico Utility Owner TXNM

By David Carnevali, Ryan Gould, and Dinesh Nair Blackstone Inc. is in talks to acquire TXNM Energy Inc., the owner of New Mexico’s largest utility, according to people familiar with the matter. The private equity firm’s infrastructure arm, Blackstone Infrastructure Partners, has emerged as the likeliest buyer of TXNM after other suitors dropped out of …

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