oil

Gas Prices

Arizona Weekly Gas Price Update for Week of January 23, 2022

Average gasoline prices in Arizona have risen 3.3 cents per gallon in the last week, averaging $3.40/g today, according to GasBuddy’s survey of 2,269 stations in Arizona. Prices in Arizona are 3.1 cents per gallon higher than a month ago and stand 14.9 cents per gallon lower than a year ago. The national average price

Energy

OPEC’s Production Cuts Embarrass Biden – Inside Sources

President Joe Biden went to Saudi Arabia earlier this year to bump fists and ask the oil-rich nation to increase oil output, essentially outsourcing oil production from U.S. oilfields to the Middle East in an effort to bring gas prices down. On Wednesday, Biden got his answer. The OPEC+ nations led by the Saudis announced

Energy

EXPLAINER: Why is Europe balking at a ban on Russian energy?

Photo: Steam leaves a cooling tower of the Lichterfelde gas-fired power plant in Berlin, Germany Shocking pictures from the Ukrainian town of Bucha and accusations of Russian war crimes are building pressure for more sanctions against Moscow. A key potential target: Russian oil and natural gas, and the $850 million that European importers pay for

Gas Prices

Biden oil move aims to cut gas prices ‘fairly significantly’

President Joe Biden on Thursday ordered the release of 1 million barrels of oil per day from the nation’s strategic petroleum reserve for six months, a bid to control energy prices that have spiked after the United States and allies imposed steep sanctions on Russia over its invasion of Ukraine. The president said it was

Opinion

Opinion: It’s Time to Increase Domestic Energy Production – Inside Sources

The bloody images of war in Ukraine are transforming our understanding of the post-Cold War order and reminding us of an important lesson: Energy policy and national security are inextricably linked. As we observe the crisis in Europe, the Biden administration would be wise to move away from damaging climate policies and toward energy independence.

Energy

Biden halts oil, gas leases amid legal fight on climate cost

The Biden administration is delaying decisions on new oil and gas drilling on federal land and other energy-related actions after a federal court blocked the way officials were calculating the real-world costs of climate change. The administration said in a legal filing that a Feb. 11 ruling by a Louisiana federal judge will affect dozens