Alex Brandon/AP Photo By BEN LEFEBVRE 04/02/2020 11:25 AM EDT Updated: 04/02/2020 04:52 PM EDT The Trump administration is pressing OPEC to hold an emergency meeting as early as next week to try to end the standoff in the oil market that has threatened to cripple the U.S. oil industry, three industry and government officials familiar with the talks said. The U.S. pressure … [Read more...] about Trump calls on Russia and Saudi Arabia to cut oil production
Oil & Gas
Trump Calls New Fuel Economy Rule a Boon. Some Experts See Steep Costs.
WASHINGTON — The Trump administration on Tuesday announced a new rule on automobile fuel efficiency, completing the president’s rollback of Obama-era standards and gutting the federal government’s most important climate change policy.President Trump lauded the measure, which his administration called the single largest deregulatory initiative of his tenure. He … [Read more...] about Trump Calls New Fuel Economy Rule a Boon. Some Experts See Steep Costs.
Oil Companies on Tumbling Prices: ‘Disastrous, Devastating’
HOUSTON — The once mighty oil industry is shrinking quickly around the world, hunkering down in survival mode.With the coronavirus pandemic all but eliminating travel and commutes, demand for energy is tumbling, and oil companies from Algeria to West Texas are slashing budgets. Refineries are cutting production of gasoline, diesel and jet fuel. Pipeline operators are … [Read more...] about Oil Companies on Tumbling Prices: ‘Disastrous, Devastating’
Ted Cruz, other senators, warn Saudis to stop using oil in 'economic warfare' against the US
Sen. Ted Cruz told CNBC on Monday he and eight other GOP senators recently ripped into the Saudi ambassador in a conference call over the oil price war with Russia that has threatened to put American producers out of business. In a "Squawk Box" interview, Cruz said the call with Princess Reema bint Bandar bin Sultan bin Abdulaziz Al Saud was "as candid a call, and … [Read more...] about Ted Cruz, other senators, warn Saudis to stop using oil in 'economic warfare' against the US
Fracking Once Lifted Pennsylvania. Now It Could Be a Drag.
CARMICHAELS, Pa. — The last time the global economy was in free fall, an economic savior showed up in southwestern Pennsylvania. Energy companies, which had discovered a way to get at the state’s vast natural-gas reserves, invested billions of dollars in the region, cushioning the blow of the Great Recession.“There were just so many jobs,” Debbie Gideon, … [Read more...] about Fracking Once Lifted Pennsylvania. Now It Could Be a Drag.