Administration prepares to remediate 10,000 abandoned oil and gas wells. The Department of the Interior has announced an initial $560 million for the reclamation of orphaned oil and…
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EPA Waives Fuel Rule After Indiana Refinery Fire
The summer fuel mandate was removed in four states to compensate for the loss. The Environmental Protection Agency (EPA) issued an emergency waiver last week, lifting the Clean…
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Secretary Granholm Estimates “Record” 2023 Oil Production
Anticipates restocking global oil market without Russian supply. Energy Secretary Jennifer Granholm recently said the United States is set to produce around 12.7 million barrels of oil per…
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Appeals Court Vacates Block on Oil and Gas Leasing Pause
Executive order stands as district court addresses lack of specificity. In January 2021, President Joe Biden paused new leases for oil and gas extraction on federal land, in…
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Average Price for Gasoline Below $4
Inflation expectations are also diminishing. On Thursday, AAA posted the national average price of a gallon of regular gas at $3.990, dropping under $4 for the first time…
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Senator Wyden Proposes Oil Company Tax Hike
Tax would be on “excess profits.” Senator Ron Wyden of Oregon is introducing the Taxing Big Oil Profits Act, which he says will accentuate the tax burden of…
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Inflation Eased Slightly in July
The costs of energy and gasoline declined. The Labor Department issued its Consumer Price Index measure for July on Wednesday that showed the pace of price increases slowing…
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DOE Announces $165 Million for Geothermal Development
Funding will support the creation of solutions for gaps in technology. Last week, the Department of Energy (DOE) announced that the Geothermal Energy from Oil and Gas Demonstrated…
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Treasury Finds Gas Prices Improved with SPR Releases
Officials estimate fuel releases kept prices 20 to 40 cents lower. The Department of the Treasury released calculations this past week that estimate tapping into the Strategic Petroleum…
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House Votes to Sell Reserve Oil to China
Strategic Petroleum Reserve is at its lowest since 1985. While average gas prices at the pump have decreased from their $5 peak, gasoline is still significantly more expensive…
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