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Oil producing countries are bracing for a bumpy ride this year, with a precipitous drop in prices to the lowest levels in four years seen as the initial, alarming sign of looming turmoil. A price drop benefits any country seeking to cut its fuel bill. But in oil producing nations, lower prices can feed economic troubles, and sometimes political unrest, as governments slash spending. Analysts who had already been predicting lower oil prices because of softening demand amid increased global production said the possibility of a tariff trade war and the overall climate of uncertainty could well deepen producers’ woes....

---Down 7.35% as I post this--- Eight key OPEC+ producers on Thuesday agreed to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their scheduled hikes and pushing down oil prices...The group was widely expected to implement an increase of just under 140,000 barrels per day next month.

JUNEAU, Alaska (AP) — A federal judge in Alaska on Tuesday ruled the Biden administration lacked the authority to cancel seven oil and gas leases that had been issued for the Arctic National Wildlife Refuge. U.S. District Court Judge Sharon Gleason said terms of a 2017 tax law that set the stage for the first-ever lease sale in the refuge’s coastal plain in early 2021 suggested that leases could only be canceled by a court order. She sent the matter back to the Department of Interior for further action. President Donald Trump upon his return to office in January signed...

WASHINGTON, D.C.: U.S. Interior Secretary Doug Burgum has announced plans to open more land for oil and gas drilling in Alaska and remove restrictions on building an LNG pipeline and mining road. This follows President Donald Trump's order to boost energy development in the state. Burgum said the government will reopen 82 percent of Alaska's National Petroleum Reserve for leasing and allow drilling on 1.56 million acres of the Arctic National Wildlife Refuge (ANWR). He also lifted restrictions on land near the Trans-Alaska Pipeline and Dalton Highway, allowing Alaska to move forward with the Ambler Road and Alaska LNG Pipeline...

The United Arab Emirates (UAE) has committed to a 10-year, $1.4 trillion “investment framework” in the U.S., the White House announced Friday. The new framework “will substantially increase the UAE’s existing investments in the U.S. economy in AI infrastructure, semiconductors, energy, and American manufacturing,” according to the administration. The UAE committed to the investments after President Trump hosted the UAE’s national security adviser, Sheikh Tahnoon bin Zayed, and the heads of major UAE sovereign wealth funds and corporations for a meeting in the Oval Office earlier this week. Among the investments under the framework, the UAE investment fund ADQ and...

A three-week market sell-off intensified on Monday, with investors worried that tariff policy uncertainty would tip the economy into a recession, something President Donald Trump did not rule out over the weekend in an interview. The Dow Jones Industrial Average dropped 1,107 points, or 2.6% for its biggest decline of the year. The S&P 500 shed 3.4%, falling to the lowest level since September. The tech-heavy Nasdaq Composite saw the biggest selling of the major averages, falling 4.8% for its biggest decline since September 2022. The S&P 500 is off by 9.1% from its all-time high reached Feb. 19, the...

EPA boss Lee Zeldin’s push to rescind the White House’s 2009 finding on greenhouse gases marks another great milestone on President Trump’s climate course correction. But it’s long past time for the entire West to admit it: The whole anti-carbon crusade declared in the 2015 Paris Climate Agreement has proved a disaster — wrecking economies and worsening lives without making a real difference on climate change. Here at home, the 2009 (Obama-era) “finding” declared that greenhouse gases endanger public health, and so provided a legal pretext for destructive “climate agenda” mandates on everything from power plants to cars to gas...

Iran has said it will carry out another military operation against Israel, according to state media agencies.Brigadier General Ali Fazli of Iran's Islamic Revolution Guard Corps (IRGC), said that a third operation against Israel, known as "True Promise III," will be carried out "on schedule."...On April 13, 2024, Iran launched a large-scale missile attack on Israeli targets, "True Promise I," marking Iran's first direct military engagement with Israel in decades. The strikes followed the April 1 Israeli bombing of Iran's diplomatic mission in Syria, which killed several Iranian officials and military officers.Iran expanded its operations with a second round of...

WASHINGTON, D.C. — Wyoming’s three federal lawmakers voted to get rid of oil and gas industry regulations as Congress this week took up a batch of measures pertaining to the energy sector. The House and Senate voted on Republican-sponsored joint resolutions to scrap environmental regulations established by former President Joe Biden’s administration. Republicans hold majorities in both chambers, and the various pro-oil measures advanced Tuesday and Thursday with little or no Democratic support. Meanwhile, on Wednesday in the Senate, Democrats brought to the floor a joint resolution aiming to overturn President Donald Trump’s declaration of an energy emergency. Republicans defeated...

After decades on the outs with environmentalists and regulators, nuclear power is being heralded as a key component for a “net zero” future of clean, reliable energy. Its promise is likely to fall short, however, due to some hard realities.As North America grapples with the challenge of providing secure, affordable, and sustainable energy amidst soaring electricity demand, it is time to accept this fact: Natural gas remains the most practical solution for powering our grid and economy.Nuclear power’s limitations are rooted in its costs, risks, and delays. Even under ideal circumstances, building or restarting a nuclear facility is arduous. Consider...

In a masterful strike against the eco-extremist agenda of the left, President Donald Trump, along with Interior Secretary Doug Burgum, have opened Pandora’s box of energy independence.They have reversed the absurd ban imposed by Joe Biden, opening over 625 million acres for oil and gas drilling and exploration.This move is nothing less than a declaration of war against progressives who want to see the United States on its knees.🚨BREAKING: President Trump and Doug Burgum announce they are opening 625 million acres of offshore territory for drilling, reversing Biden’s last-minute ban before he left office.pic.twitter.com/Fl2kh3K0db— Benny Johnson (@bennyjohnson) February 14, 2025In...

Newly seated Interior Secretary Doug Burgum issued six Department of the Interior (DOI) orders on Feb. 3, his first official day in office. His initial actions as secretary align DOI procedures and initiatives with the 200-plus executive actions that President Donald Trump has signed since his Jan. 20 inauguration, including more than 50 related to energy development.

United States President Donald Trump stated that his Russian counterpart Vladimir Putin would be "well-off" to end the war in Ukraine, adding that "he is not doing too well" and that Russia lost one million troops. "I have to speak to President Putin, we're gonna have to find out," Trump told reporters at the Oval Office after signing executive orders. "Russia's bigger they have more soldiers to lose but that's no way to run a country," said Trump of Putin. "Zelensky wants to make a deal. I don't know if Putin does. He should make a deal. I think he's...

Scott Bessent said the US should increase sanctions on Russian oil producers to force Moscow to negotiate with Ukraine as he criticised the Biden administration for not being tougher on Vladimir Putin’s regime. The comments on Thursday by Donald Trump’s nominee to be Treasury secretary pushed up oil prices, as traders considered the prospect of tighter global crude supply. The new administration is also expected to target Iranian and Venezuelan oil with tougher sanctions as Trump seeks to increase economic pressure on the US’s adversaries.

Coming with the new year is a new president with a very different vision on energy than President Joe Biden, who campaigned on a promise to “end fossil fuel.” President-elect Donald Trump is dismissive of the immediate “climate crisis” narrative that drove much of Biden’s energy policies. He promises to establish American “energy dominance” and focus policy on bringing down the cost of energy. While Trump can overturn Biden’s industry-punishing executive orders and create a friendlier regulatory environment for the oil, gas, coal and mining industries, experts say there are economic and technical limits to what the outcomes of his...

Key Points Macy’s posted preliminary third-quarter results but delayed its full earnings report as it investigates up to $154 million in erroneously reported expenses. The company said it discovered the issue when it was preparing its earnings, adding the employee who hid the expenses no longer works at the company. The retailer said third-quarter sales fell, and expects to post full-year guidance by Dec. 11. ============================================================== Macy’s on Monday said it will delay its full earnings release as it investigates an accounting problem stemming from an employee who the company said intentionally hid up to $154 million in delivery expenses....

CHICAGO (AP) — For the second year in a row, Earth will almost certainly be the hottest it’s ever been. And for the first time, the globe this year reached more than 1.5 degrees Celsius (2.7 degrees Fahrenheit) of warming compared to the pre-industrial average, the European climate agency Copernicus said Thursday. “It’s this relentless nature of the warming that I think is worrying,” said Carlo Buontempo, director of Copernicus. Buontempo said the data clearly shows the planet would not see such a long sequence of record-breaking temperatures without the constant increase of greenhouse gases in the atmosphere driving global...

President Donald Trump lit it up over the weekend at McDonald's in Bucks County, PA. He worked the fry station and the drive thru window. It got all kinds of attention and he looked like he was in his element. The left lost their minds over it, which made it extra hilarious. It showed once again, Trump's natural ability to interact with people as opposed to Kamala Harris' lack of ability. It was a brilliant campaign move and brought epic images including this one. He was also cheered by steelworkers in Latrobe, PA and at the Pittsburgh Steelers game on...

Vice President Kamala Harris would not support an expansion of fossil fuel drilling despite her recent campaign boasts about domestic oil production under the Biden administration. "Just to be clear, Vice President Harris hasn’t said anything that the administration hasn’t already said. She is not promoting expansion [of fossil fuel drilling]. She’s just said that they wouldn’t ban fracking," Camila Thorndike, Harris’ climate engagement director, said in an interview with Politico. The comments come as Harris has continued to face questions about her stance on energy production, going from supporting a ban on fracking just five years ago to touting...

Senator Sheldon Whitehouse, a Rhode Island Democrat, has threatened former President Donald Trump with a new investigation into his reported promises to Big Oil. The Washington Post reported this week of a deal that Trump, the presumptive GOP presidential nominee, reportedly offered to top oil executives at a Mar-a-Lago dinner last month—raise $1 billion for his campaign and he will reverse dozens of President Joe Biden's environmental regulations and prevent new rules, according to people with knowledge of the dinner. According to the Post's sources, Trump said gifting him $1 billion would be a "deal," because of the taxation and...