It was the largest spill on the Keystone system since it began operating in 2010 and bigger than 22 previous spills on the system combined.
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Posted inBusiness, Nation & World
Oil spill in rural Kansas creek shuts down Keystone pipeline
Oil prices briefly surged midday Thursday amid news of the spill.
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Biden paints oil firms as war profiteers, talks windfall tax
High prices at the pump have exacerbated inflation and have taken a toll on Biden and Democrats’ standing among voters.
Posted inBusiness, Nation & World, News
Oil giants rake in steep profits amid high energy prices
Gasoline eased somewhat towards the end of the quarter, but customers were still paying more than $3.79 a gallon of regular, on average, in late September.
Posted inBusiness, Nation & World, News, Politics
What is the strategic oil reserve, and can it lower gas prices?
With Election Day on the horizon and gas prices rising, President Biden proposes releasing another 15 million barrels of oil.
Posted inNation & World, News
Biden to release 15 million barrels from oil reserve, more possible
President Biden will also open the door to additional oil reserve releases this winter in an effort to bring prices down.
Posted inBusiness, Nation & World, News
Biden vows ‘consequences’ for Saudis after OPEC+ cuts output
It remains to be seen how far President Biden is willing to go in showing his displeasure with Saudi Arabia, a vital but complicated ally in the Middle East.
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Climate bill positions big oil and gas companies to cash in
Billions of dollars of new subsidies for carbon capture technology are a signature component of the $370 billion climate package President Biden signed into law last month.
Posted inBusiness, Nation & World, News
The U.S. is the world’s largest oil producer. You’ll still pay more for gas.
When supply in the market contracts slightly – as it will with OPEC Plus’s decision last week to cut production – that can affect prices in the U.S.
Posted inBusiness, Nation & World, News
OPEC+ makes big cut to oil production to increase prices
The Saudi oil minister rejects the implication that OPEC was assisting Russia, saying the discussion was in a nonpolitical ‘silo’ where the focus was prudent management of oil markets.