Biden administration leans on Tesla for guidance in renewable fuel policy reform

June 23 (Reuters) – US President Joe Biden rarely mentions electric car maker Tesla Inc (TSLA.O) in public. But privately his administration has leaned on the company to help craft a new policy to allow electric vehicles (EVs) to benefit from the nation’s lucrative renewable fuel subsides, according to emails reviewed by Reuters. The Biden … Read more

Biden mocks ‘sensitive’ Chevron CEO Michael Wirth in spat over gas price claims

President Biden escalated a war of words with Chevron CEO Michael Wirth Tuesday after the country’s second-largest oil company rejected the president’s “political rhetoric” about high gas prices. “He’s mildly sensitive. I didn’t know they’d get their feelings hurt that quickly,” Biden said at the White House when a reporter asked about Wirth’s rebuttal. “We … Read more

Oil prices fall as recession fears trump tight supply

An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. Picture taken with a drone. REUTERS/Tatiana Meel Register now for FREE unlimited access to Reuters.com Register LONDON, June 20 (Reuters) – Oil … Read more

LIV From the US Open

Greed, dishonor, scandal and murder aren’t normally associated with the sport of golf. But golf, invented 500 years ago in Scotland, finds itself this week engulfed in a battle between its reputation for scandal-free fair play and Saudi Arabia’s oil money. The controversy is a parable for our tense, troubled times. As part of Saudi … Read more

Biden demands oil companies explain lack of gasoline as prices rise

Gas prices over the $6.00 mark are advertised at a 76 Station in Santa Monica, California, US, May 26, 2022. REUTERS/Lucy Nicholson Register now for FREE unlimited access to Reuters.com Register WASHINGTON, June 15 (Reuters) – US President Joe Biden on Wednesday demanded oil companies explain why they aren’t putting more gasoline on the market, … Read more

6 Energy Stocks to Consider in a Hot Market

Two years ago, oil companies were global pariahs, banished not only from the high-minded peaks of Davos but also from lowly index funds. Energy’s weight in the S&P 500 fell below 2%, an astonishing drop for a sector that once accounted for more than 20% of the index’s market value. Exxon Mobil was briefly worth … Read more

US gasoline average price tops $5 per gallon in historic first

June 11 (Reuters) – The price of US gasoline averaged more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs that is driving rising inflation. The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 … Read more

Facing record inflation, Biden aims at Exxon, other oil companies

US President Joe Biden speaks during the opening plenary session at the Ninth Summit of the Americas in Los Angeles, California, US, June 9, 2022. REUTERS/Daniel Becerril Register now for FREE unlimited access to Reuters.com Register LOS ANGELES, June 10 (Reuters) – US President Joe Biden on Friday accused the US oil industry, and ExxonMobil … Read more

Draft Indonesia renewable bills proposes coal-based fuels as ‘new energy’

A heavy machinery unload coal from barges into trucks to be distributed, at the Karya Citra Nusantara port in North Jakarta, Indonesia, January 13, 2022. Picture taken with a drone. REUTERS/Willy Kurniawan Register now for FREE unlimited access to Reuters.com Register JAKARTA, June 8 (Reuters) – Environmental experts on Wednesday slammed an Indonesian parliamentary proposal … Read more

Column: La Nina may further disrupt commodity markets via hurricanes

Mangled irrigation systems lay across farmland in central Nebraska after high winds swept across the US Great Plains and upper Midwest, Litchfield, Nebraska, US, in this still image obtained from a social media video. KEVIN FULTON/via REUTERS Register now for FREE unlimited access to Reuters.com Register NAPERVILLE, Ill., June 7 (Reuters) – As if commodity … Read more