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Ten years. That’s how long President Biden gives the oil economy. He’s only wrong by a few decades. During his State of the Union speech earlier this month, Biden bashed oil companies for ...
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 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 ...
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.
In Biden’s case, many of the dynamics that supercharged oil and gas industry profits during his presidency were not directly related to his administration’s policies: Russia’s invasion of ...
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 ...
Oil prices plunged to their lowest level since December 2021, with Brent oil falling 4% to $68.99 on Tuesday. Supply and demand issues, including a slowdown in China's economy, are pressuring prices.
Crude was recently under $70 a barrel, well below the nearly $80 average it captured during the second quarter. Now the company's earnings and cash flow are likely to decline in the second half of ...