U.S. Senator Joe Manchin said it will take “an awful lot of heavy lifting” over the next two or three days to overcome opposition by “strange bedfellows” ranging from progressive Senator Bernie Sanders to Senate Minority Leader Mitch McConnell.
California has been at the forefront of efforts to phase out the use of natural gas in buildings. Since 2019, more than two dozen cities have passed measures to reduce the use of gas in buildings.
"Profit-maximizing enterprises do not intentionally invest in higher oil inventories or spare production capacity," Reuters' John Kemp said in a recent column on recession as it is tied to the oil market.
Due to European gas prices spiking after Russia's invasion of Ukraine, Britain is looking to increase previously declining domestic gas production to balance out natural gas prices.
The sale is among the concessions to the oil and gas sector included in U.S. President Joe Biden's new climate change law, the Inflation Reduction Act (IRA).
The legislation would require the federal government to issue permits for Equitrans Midstream Corp.’s long-delayed $6.6 billion Mountain Valley Pipeline to take natural gas between West Virginia, Manchin’s home state, and Virginia.
Judge Mordecai Bromberg of Australia's Federal Court ruled that Santos did not properly consult with the Tiwi islanders, who would risk damage to sacred spiritual sites.
The secondary sanctions would target financial institutions involved in trade finance, insurance, reinsurance and brokerage of Russian oil and petroleum products sold at prices exceeding the cap.
"Freezing or capping energy bills might help consumers in the short term, but it does not address the real causes and is not the long-term solution," Aramco's Amin Nasser said of Europe's energy bill cap plans.
A lease sale for floating wind areas offshore California will take place by year-end 2022 as U.S. aims to lower costs by 70%, according to an announcement by the DOE.