U.S. President Joe Biden announces new actions against Russia for its war in Ukraine, during remarks in the Roosevelt Room at the White House in Washington, U.S., March 8, 2022. Kevin Lemarque | Reuters The White House on Thursday announced that the U.S. will release 1 million barrels of oil per day from strategic reserves
Month: March 2022
Oil fell with President Joe Biden’s order to release roughly a million barrels a day from crude reserves in an effort to tame rising energy costs. Futures in New York fell to $100 a barrel after the U.S. said it will release the biggest amount yet of crude from its strategic reserves, potentially totaling as
By Joey Klender Posted on March 31, 2022 Rivian Automotive said in a 10-K filing with the SEC earlier today that it expects “to incur significant expenses and continuing losses for the foreseeable future,” as it is a “growth stage” company. “We have incurred net losses since our inception, including net losses of $0.4 billion,
Saudi Energy Minister Prince Abdulaziz bin Salman has said Tuesday that OPEC+ would keep politics out of its decision-making process. Ian Forsyth | Getty Images News | Getty Images A group of some of the world’s most powerful oil producers on Thursday will meet to determine the next phase of output policy following reports the
Energy Secretary Jennifer Granholm speaks during a meeting with Secretary of State Antony Blinken, European Union High Representative for Foreign Affairs and Security Policy Josep Borrell Fontelles, and European Commissioner for Energy Kadri Simson at the State Department in Washington, February 7, 2022. Andrew Harnik | Pool | Reuters The Biden administration on Wednesday announced
Consumers have to be ready for a period of higher prices as Russia continues its war in Ukraine and disruptions to the global energy market persist, according to an energy expert. The war in Ukraine following Russia’s invasion in late February has thrown energy markets into disarray and driven up the price of wheat. Russia
Oil rose with the Kremlin reporting there’s been no breakthrough in peace talks while the Ukraine says Russia is deploying reinforcements, dashing hopes for an end to the war. Futures in New York settled near $108 a barrel on Wednesday after falling the prior two sessions. The Kremlin said peace talks yielded no breakthroughs, while
By Joey Klender Posted on March 30, 2022 Tesla’s valuation (NASDAQ: TSLA) should not be benchmarked against traditional automakers, as it could be “misleading,” top analyst Gene Munster said. “Using traditional auto as a benchmark for how to value Tesla is misleading,” Munster, an analyst for Loup Ventures, said on CNBC. “Not misleading in the
One way that we can all help the environment is by stopping single-use battery disposal. More and more devices are getting built-in rechargeable batteries, but for those that still use traditional AA or AAAs, it’s time to swap those to ones that can be used over and over again. Today, we’re talking about an 8-pack
A gas cooker is seen in Boroughbridge, northern England. Nigel Roddis | Reuters Germany has declared an “early warning” that it could soon be facing a natural gas emergency as Europe’s largest economy prepares for the risk of a full supply disruption from Russia. The Kremlin has repeatedly demanded that so-called “unfriendly” countries pay in
Asia will become the default market for Russian oil as the country tries to find buyers for its energy exports, IHS Markit Vice Chairman Dan Yergin told CNBC. Major oil importers in Asia like China and India have been pressured by oil prices which have soared since Russia invaded Ukraine in late February. Besides the
Saudi Energy Minister, Prince Abdulaziz bin Salman bin Abdulaziz Al Saud speaks during the UN Climate Change Conference (COP26), in Glasgow, Scotland, Britain, November 10, 2021. Yves Herman | Reuters Saudi Arabia’s energy minister said Tuesday that OPEC+ will keep politics out of its decision-making in favor of the “common good” of stabilizing energy prices.
Oil slipped as talks between Russia and Ukraine failed to reach an agreement on a cease-fire, while the U.S. cautioned against declaring progress as they await signs of de-escalation. Futures in New York fell 1.6% to settle around $104 a barrel on Tuesday. Earlier in the session, West Texas Intermediate futures sank more than 7%
By Eric Ralph Posted on March 29, 2022 In an oddly roundabout and confusing manner, NASA appears to have confirmed that it exercised a contract option to purchase a second crewed Starship Moon landing from SpaceX. Aside from its general existence, very little else is known about the new contract. NASA has yet to discuss
United Arab Emirates’ Energy Minister Suhail Mohamed al-Mazrouei at a press conference in January, 2018. MOHAMMED MAHJOUB/AFP/Getty Images Failure to address energy affordability risks casting significant portions of the world into poverty and stagnating the global economy, according to the United Arab Emirates Energy Minister Suhail Al Mazrouei. Soaring energy prices have caused inflation to spike
In this article ENI-IT Ships sailing into the port of Rotterdam in February 2022. Federico Gambarini | Picture Alliance | Getty Images Concerns related to both the energy transition and energy security have been thrown into sharp relief by Russia’s invasion of Ukraine. Russia is a major supplier of oil and gas, and over the
The United Arab Emirates’ energy and infrastructure minister has insisted that Russia will always be a part of OPEC+ even as governments across the globe shun the oil exporter over its war in Ukraine. Speaking to CNBC on Monday, Suhail Al Mazrouei, a former president of the oil alliance, said no other country could match
Oil fell as China issued more lockdowns, raising fresh concerns about demand slowing in the world’s biggest crude importer. Futures in New York fell almost $8 to settle just shy of $106 a barrel on Monday. Markets sold off after authorities in Shanghai said they will lock down half of the city in turns for
By Joey Klender Posted on March 28, 2022 Elon Musk has tested positive for COVID-19 for the second time, but the Tesla and SpaceX CEO is skeptical. Musk said he’s “supposedly” tested positive for the virus while criticizing the numerous variants of the virus, asking, “How many gene changes before it’s not Covid-19 anymore?” Musk
Now that you might be making plans for spring or summer getaways, it’s time to consider how you’re going to power the off-grid living space. Renogy’s 100W solar panel is perfect for the task thanks to its common 12V output as well as the fact that it’s weatherproof and ready for anything thrown at it.
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