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The 2022 sale of 180 million barrels of crude had raised nearly $17 billion in emergency revenue for buybacks, but Congress had rescinded about $2.05 billion to help offset the national deficit.
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 ...
Biden is far from the first president to release some of the barrels; both Republicans and Democrats have done so, particularly after hurricanes or other natural disasters, or even to generate ...
In the near term, as far as the demand for crude oil markets, it’s been a little different. Last month imports fell by about 10% from the month prior, and there’s been a year-over-year drop of ...
A person fishes with offshore oil and gas platform Esther in the distance on January 5, 2025 in Seal Beach, California. President Joe Biden has permanently banned future offshore oil and gas ...
Oil futures dropped as much as 2% on Wednesday before paring losses as traders weighed what Donald Trump's presidential victory could mean for energy prices.
The world is going to need fossil fuels far longer than President Biden seems to think.
Oil futures pared gains on Friday but still notched their biggest weekly increase in more than a year as President Biden aimed to discourage Tel Aviv from targeting Iran’s crude facilities ...