At a recent energy conference, E&P leaders also warned that the energy transition needs to slow down or the U.S. will face European-style disruptions.
API’s support is a win for the biofuel and farm groups because the oil industry has at times resisted efforts to expand the market for ethanol.
Not every nuclear plant that applied is getting funding in the initial phase of the program. Holtec International, which in May bought the Palisades nuclear plant in Michigan, said on Nov. 18 that DOE rejected its application for funding.
Republican leaders in the House of Representatives would rather develop lithium, copper and other resources needed for electric vehicles found in the U.S. rather that brought in from other countries.
If approved by Congress, the request, issued by the White House on Nov. 14, provides the Department of Energy (DOE) with funding to improve the four SPR sites along the Texas and Louisiana coasts.
The second phase of Equinor's Sverdrup oilfield is anticipated to increase the field's output to 755,000 boe/d.
As a condition of entering long-term EU energy crisis deals, Aker BP wants to see a "price floor" on gas.
"He announced a slew of new climate programs, but he couldn't deliver what the developing world most wants — enough money to adapt to climate extremes," the Climate Crisis Advisory Group's Alice Hill said of President Biden's address at COP27 on Nov. 11.
"If there is a global economic slowdown in 2023, Russia’s export revenues could fall by between a third and a half, based on experience over the last two decades," columnist John Kemp shared.
Australian Prime Minister Anthony Albanese told a radio station on Nov. 11 that a price cap on gas "is one of the options that is under consideration" to stabilize energy prices.