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Energy Politics: Biden Plans Sweeping Effort to Block Arctic Oil Drilling

Conventional Energy, Latest, Oil, US News / By

Half of National Petroleum Reserve-Alaska could be off-limits Companies say plan would violate leases, kill investment The US set aside 23 million acres of Alaska’s North Slope to serve as an emergency oil supply a century ago. Now, President Joe Biden is moving to block oil and gas development across roughly half of it. The initiative, set …

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Investors Bet on Further Rise in U.S. Gasoline Prices: John Kemp

Energy Topics & Technology, Gasoline, Latest, US News / By

Portfolio investors have amassed one of the largest bullish positions in U.S. gasoline futures and options since before the coronavirus pandemic, anticipating that prices will continue climbing over the next few months. U.S. gasoline has emerged as the most attractive part of the petroleum complex for investors betting prices will rise further this year in …

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UAE’s ADNOC Recently Eyed BP as Takeover Target

CDN and International News, Conventional Energy, Latest, Oil / By

The United Arab Emirates’ state-owned oil company recently considered buying Britain’s BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters. Abu Dhabi National Oil Company (ADNOC) ultimately decided BP would not be the right fit for its strategy, three people said. Political considerations also weighed on the …

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Environmentalists Protest as Biden Administration Approves Huge Oil Export Terminal Off Texas Coast

Energy Topics & Technology, EnergyNow News and Press Releases, Latest, Offshore, US News / By

WASHINGTON (AP) — In a move that environmentalists called a betrayal, the Biden administration has approved construction of a deepwater oil export terminal off the Texas coast that would be the largest of its kind in the United States. The Sea Port Oil Terminal being developed off Freeport, Texas, will be able to load two …

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COMMENTARY: Why You Shouldn’t Be Alarmed About Unusually Warm Temperatures – Alex Epstein

Latest, US News / By

Even with recent temperatures, which are a temporary anomaly, not the new normal, cold is a bigger problem than heat and fossil fuels keep us safer from both. By Alex Epstein Myth: Recent, unusually warm temperatures show that fossil fuels are making our climate more and more dangerous. Truth: Even with recent temperatures, which are a …

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AI Poised to Break Out of its Oilfield Niche

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At the AI in Oil & Gas Conference in Houston, experts talked up the benefits artificial intelligence can provide to the downstream, midstream and upstream sectors, while assuring the audience humans will still run the show.

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