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Energy

“Gas prices jump to fresh record highs”

“The national average price for regular gasoline climbed more than four cents on Tuesday to $4.37 a gallon, according to AAA. That takes out the prior record of $4.33 set on March 11.The gas spike — prices are up 17 cents… Continue Reading…

Energy

“Soaring gas prices are forcing some Uber, Lyft drivers off the road”

“…The Consumer Price Index, which measures the prices Americans must pay for goods and services, is up 8.5% from a year ago — notching a fresh high in March. However, gas prices jumped 18.3% for the month, boosted by the war in Ukraine and… Continue Reading…

Energy

“Exxon signals record quarterly profit from oil and gas prices”

“Exxon Mobil Corp on Monday said its first-quarter results could top a seven-year quarterly record, with operating profits from pumping oil and gas alone of up to $9.3 billion. A snapshot of the largest U.S. oil company’s quarter ended March… Continue Reading…

Energy

“Putin tells Europe: Pay in roubles or we’ll cut off your gas”

“Russian President Vladimir Putin is demanding foreign buyers pay for Russian gas in roubles from Friday or else have their supplies cut, a move European capitals rejected and which Germany said amounted to “blackmail”. Putin’s decree on Thursday leaves Europe… Continue Reading…

Energy

“U.S. to release 1 million barrels of oil per day from reserves to help cut gas prices”

“The White House on Thursday announced that the U.S. will release 1 million barrels of oil per day from strategic reserves to help cut gas prices and fight inflation across the country…” https://www.cnbc.com/2022/03/31/us-to-release-1-million-barrels-of-oil-per-day-from-reserves-to-help-cut-gas-prices.html This is bad. If all emergency supplies… Continue Reading…

Economy, Energy

“How Rising Gas Prices Drive Everyday Costs Beyond The Pump”

“EDITOR’S NOTE: It almost goes without saying that rising fuel costs will likely drive up the cost of anything that relies on transportation. As much of a no-brainer as this seems, many people are still not making the connection. If a… Continue Reading…

Energy

“Why are US gas prices soaring when America barely uses Russian oil?”

“…Most of Russia’s oil goes to Europe and Asia. But the key here is to think about the oil supply globally, rather than the US specifically. The commodities world is a heavily interconnected one, and oil is priced through a… Continue Reading…

Economy, Energy

“Russia warns of $300 oil, threatens to cut off European gas if West bans energy imports”

“Russia has threatened to close a major gas pipeline to Germany and warned of $300 oil prices if the West goes ahead with a ban on its energy exports. “It is absolutely clear that a rejection of Russian oil would… Continue Reading…

Economy, Energy

“Shell won’t buy any more Russian oil and gas”

“…Shell (RDSA) said Tuesday it was breaking completely with Russia’s giant energy industry, halting all purchases of Russian crude oil immediately and shutting its service stations in the country.The UK-based company, which last week announced it was dumping its investments in Russia, said its decision… Continue Reading…

Economy, Energy

“…Americans are warned to budget for $5-A-GALLON gas as oil prices surge during Russian invasion of Ukraine and US national average rises to $3.61”

“Americans can expect to see gas prices to rise to $5 a gallon in the coming weeks, as the cost of oil continues to rise in the days following Russia’s invasion of Ukraine, experts say – and some parts of California… Continue Reading…