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Oil and natural gas executives should be careful what they wish for. Big Oil has chafed under President Biden, who has trash-talked fossil fuels and aggressively pushed to decarbonize the US economy.
The Energy Select Sector SPDR Fund (XLE), which tracks the performance of the largest oil and gas companies, is up more than 100% since Biden’s inauguration. The cash-rich industry has not shied ...
Later, in February, the Biden administration suspended any further oil and gas leases on public lands. The decision came after a Trump-appointed judge reversed the social cost of carbon of $51 per ton—the figure established by Obama and restored by Biden—back to $7 per ton which had been Trump's cost estimate.
In his first week in office, Biden canceled the Keystone XL pipeline and placed a ban on new federal oil and gas leasing, which remained in place until April 2022. While record gas prices in 2021 ...
The economic policy of the Joe Biden administration, colloquially known as Bidenomics (a portmanteau of Biden and economics), is characterized by relief measures and vaccination efforts to address the COVID-19 pandemic, investments in infrastructure, and strengthening the social safety net, funded by tax increases on higher-income individuals and corporations.
Many voters think of President Biden as a green energy champion who wants to put fossil fuels out of business. But if you look at the financial performance of oil and natural gas companies under ...
Critics accuse President Joe Biden of waging a war on the oil industry that is hurting consumers at the gas pump. And yet, on his watch, US oil production is poised to shatter all-time records set ...
The U.S. is producing more oil than ever, and that's helping gas prices stay low. However, even amid inflation anxiety, the Biden administration isn't openly celebrating the increased output.