Biden suggests US will release oil from reserves 'as conditions warrant' President Biden suggested on Thursday that the U.S. may release oil from its strategic reserve after prices soared amid the Russian invasion of Ukraine. In a speech delivered Thursday addressing the developing conflict between Russia and the former Soviet state, Biden said that he was coordinating with both oil producing [...]
One issue more than any other will dominate airtime and influence policy in 2022: energy. Americans are seeing the highest prices at the pump in seven years. Since Biden took office, average gas prices are up by more than $1 a gallon. In November, gas prices in Mono County, California hit more than $6 per gallon, forcing some residents to drive to Nevada (where gas taxes are lower) to buy fuel.
While most Americans have never heard of it, the Interior Department’s five-year plan for offshore energy development is essential to maintaining our basic standard of living and keeping the prices for thousands of everyday goods and services low. At a time of record inflation and sky-high energy costs, it is critical that the Biden Administration show its energy and environmental leadership by moving forward with this offshore energy plan.
Engine No. 1 expects more bold proposals from shareholders after the high-profile success of the activist impact investor’s campaign that changed the board at oil and gas giant ExxonMobil.
As Goldman has argued since August 2020, higher oil prices are justified by a strong demand recovery in the face of a slow supply response.
A federal judge on Monday issued a nationwide injunction on President Joe Biden’s executive order to halt oil and gas operations on all federal lands in the name of fighting so-called climate change.
Exxon Mobil Corp.’s remade board of directors is debating whether to continue with several major oil and gas projects as the company reconsiders its investment strategy in a fast-changing energy landscape, according to people familiar with the matter.
