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The reason is simple: Biden was scared of the political fall-out from higher oil prices. After all, record-setting $5 per gallon gas in June 2022 caused one of the biggest hits to Biden’s ...
In the United States, oil and gas drillers say Biden’s condemnation of fossil fuel use has depressed investment, since lenders and shareholders don’t want to commit money to an industry on the ...
Additionally, the Biden administration has taken steps to try to nudge the auto industry away from using gas-powered cars, like rolling out new tailpipe emissions standards and revamping electric ...
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 ...
The price cap held for most of the year, but Russia is now selling oil at about $68 per barrel, the highest price for Russian crude since last fall. That could go higher if market prices for oil ...
As it stands, the reserve is a "nice insurance policy," Gross says, and now that crude oil prices have fallen below the government's target price of $79 per barrel, it is likely that further ...
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 ...
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 ...