“Yes, we’re frustrated. We’re frustrated because you’ve seen a decrease in oil prices. You’ve not seen a decrease in gas,” White House press secretary Jen Psaki said at a news briefing.
The shipments represent an unreported effort by Venezuela to boost revenues despite U.S. sanctions on its oil industry.
Gas prices have continued to rise at the pump, Biden said in a letter to the FTC, noting that the two largest U.S. oil and gas companies—Chevron and Exxon Mobil—were on track to nearly double their net income.
Crude stocks at the Cushing, Oklahoma, delivery hub rose by 216,000 barrels, the EIA said, the first time in several weeks that Cushing stocks have increased.
Separately, Exxon Mobil told Reuters in July that the firm was advancing project discussions with potential partners for an import terminal for LNG also in China’s Huizhou province.
The report projected that the plastic industry releases at least 232 million tons of greenhouse gases each year throughout its lifecycle from the drilling for oil and gas to fuel its facilities to incineration of plastic waste.
Kinder Morgan’s Products (SE) Pipe Line, which was shut Oct. 1 after a leak was discovered, spans from Louisiana to Virginia and has the capacity to carry more than 700,000 bbl/d of gasoline, jet fuel and diesel.
The rebound came as U.S. crude oil output jumped by 500,000 bbl/d to 11.1 million bbl/d, a level consistent with activity before Hurricane Ida slammed into the U.S. Gulf Coast about a month ago.
Power outages in the Houston area caused Colonial to pre-emptively shut down its main gasoline and distillate fuel lines, the company said in a notice to shippers after Nicholas made landfall.