Free Republic

U.S. oil prices retreated from weekly highs as markets assessed the potential for a reprieve in Middle East turmoil following a week of escalating tensions. The U.S. crude oil price benchmark, West Texas Intermediate, fell 8% to less than $68 a barrel, the lowest level since mid-June. The global Brent crude price benchmark likewise fell about 8%. Major stock indexes ended the day in positive territory. Just after 1 p.m. Monday, Iran said it had launched missiles toward a U.S. base in Qatar. Reports suggested the missiles had been intercepted. Markets viewed the strikes "as more of a symbolic retaliatory...

The Cyprus visit is a calculated effort to advance India's Mediterranean strategy by countering the Turkey-Pakistan alignment, they added. Cyprus's maritime connectivity and strategic location position it as a potential hub in the India-Middle East-Europe Economic Corridor (IMEC).With Cyprus set to hold the rotating presidency of the EU Council in 2026, PM Modi's visit -- the first by an Indian Prime Minister in 23 years -- paves the way for deeper India-EU collaboration during Cyprus's leadership term. This visit comes amid heightened Turkey-Pakistan solidarity, particularly following Turkey's support for Pakistan during Operation Sindoor.Cyprus, engaged in territorial disputes with Turkey, naturally...

MOSCOW, Aug 10, 2002 (AP WorldStream via COMTEX) -- Russian Defense Minister Sergei Ivanov raised the possibility on Saturday of creating a multinational defense force in the resource-rich Caspian Sea, a Russian news agency reported. "I can't exclude the creation in the Caspian of a military group which would include Russia, Kazakhstan and other Caspian Sea countries," Ivanov was quoted as saying by Interfax news agency. Ivanov is currently in the Caspian Sea city of Kaspiisk in Russia's Dagestan region to observe large-scale naval maneuvers in the disputed Caspian waters. The former Soviet republics of Kazakhstan and Azerbaijan are also...

The proposal is regarding 13 million acres of government-owned Arctic land that is part of the National Petroleum Reserve in Alaska.. The Interior Department on Monday proposed the restoration of oil and gas drilling in the Arctic after it had previously been restricted by the Biden administration. The proposal is regarding 13 million acres of government-owned Arctic land that is part of the National Petroleum Reserve in Alaska, which is a total area of 23 million acres that former President Warren G. Harding set aside in 1923 as an emergency supply of oil for the Navy. The Naval Petroleum Reserves...

Following the news that Trans Mountain Corporation will start filling the expanded pipeline in February, with first crude to be loaded from Vancouver in April, Canadian crude prices jumped to the narrowest discount to WTI since August 2023. U.S. refiners used to cheap Canadian crude will need to start budgeting more for the commodity from this spring. Canadian oil producers are preparing for the 890,000 bpd in takeaway capacity growth. ... U.S. refiners used to cheap Canadian oil might need to reach deeper into their pockets to keep buying it. The idea behind the Trans Mountain expansion was to turn...

Alberta’s Leduc geological formation contains an abundance of lithium, a critical and rare metal that is needed in batteries to power electric vehicles and cellphones. Lithium has traditionally been extracted from “hard rocks,” but in Alberta, it exists in the brine, or water, left behind in oilfields across the province. Geologist Chris Doornbos started E3 Lithium, a TSX-listed geo-tech company that entered into a strategic partnership with Imperial Oil last year. And last week, the company announced some impressive test results. “Our resource was upgraded (last week) to 16-million tonnes — 9.4 indicated and 6.6 measured resources of lithium carbonate...

(The Center Square) - California Republicans are launching an investigation into the Low Carbon Fuel Standard update that is expected to increase the cost of gasoline by 65 cents per gallon — impacting not just California, but the parts of Nevada and Arizona that rely on the Golden State for fuel — on July 1. That's the middle of the peak summer driving season. “CARB and the Governor pushed an expensive gas price hike behind closed doors, ignored public input, and misled Californians about the real cost,” said Senate Minority Leader Brian Jones, R-San Diego. “We believe their real goal...

BATA, Equatorial Guinea—Classified American intelligence reports suggest China intends to establish its first permanent military presence on the Atlantic Ocean in the tiny Central African country of Equatorial Guinea, according to U.S. officials. The officials declined to describe details of the secret intelligence findings. But they said the reports raise the prospect that Chinese warships would be able to rearm and refit opposite the East Coast of the U.S.—a threat that is setting off alarm bells at the White House and Pentagon. Principal deputy U.S. national security adviser Jon Finer visited Equatorial Guinea in October on a mission to persuade...

Russian President Vladimir Putin and Chinese authorities decided to form the strategic alliance for defense, trade and energy. Russia will deliver oil to China and China will collaborate with Russia in Geopolitical strategic defense of Euresia. Russia's Security Council and the Military Commission of the Chinese Communist Party's Politburo will form a forum and will work closely to make sure both countries can create and maintain the necessary military and political infrastructure as well as coordination. According to some international think tanks, sources close to Russia's Security Council say recommending countermeasures to check the U.S. geopolitical "offensive" in Eurasia...

Americans celebrating Memorial Day by hitting the road will likely be paying the cheapest gas prices since 2003. GasBuddy, a fuel savings platform, said Tuesday that it forecasts the national average price of gasoline to be $3.08 per gallon on Memorial Day. That would make it the cheapest since 2021 in nominal terms. After adjusting for inflation, it would be the lowest since 2003. This is not expected to be short-lived. Prices of gasoline are expected to average around $3.02 per gallon between Memorial Day and Labor Day, with prices falling below three dollars on some days. That’s likely to...

Dear President Trump, Please pressure Congress or whatever it takes to remove the ethanol-in-the-gas requirement for vehicles. You can save Americans and the producers money and hardly affect anything by doing so. Thank you sir, ~Mene

Ministers secretly advised Muammar Gaddafi’s Libyan regime how to secure the successful early release of the Lockerbie bomber, documents obtained by The Daily Telegraph have disclosed. A Foreign Office minister sent Libyan officials detailed legal advice on how to use Abdelbaset al-Megrahi’s cancer diagnosis to ensure he was released from a Scottish prison on compassionate grounds. The Duke of York is also said to have played a behind-the-scenes role in encouraging the terrorist’s release. The Libyans closely followed the advice which led to the controversial release of Megrahi – who was convicted of the murder of 270 passengers on Pan...

According to an email sent May 13, 2025, by Department of Natural Resources Director Dan Gibbs, Nicole Rosmarino is the sole finalist for the director of the State Land Board, which is the state’s second largest landowner with 2.8 million surface acres and 4 million mineral estate acres. Gibbs said, per statute, the board provides public notice for 14 days prior to a formal appointment which will occur at the next regularly scheduled public board meeting, which is June 11 and 12 in Denver. An email sent to DNR confirmed the hire Friday. The mission of the State Land Board...

California Governor Gavin Newsom’s hostility to the oil industry could lead to the closure of local refineries — which, in turn, could push gas prices past $6 per gallon, or even $9 per gallon, a local analyst has warned. Local ABC affiliate KABC-7 reported: The Phillips 66 Refinery in Los Angeles could close by the end of this year, which would send prices skyrocketing above $6, according to USC Professor Michael Mische. Mische added that if the Valero Refinery in the Bay Area closes by the end of next year, that could send gas prices soaring close to $9 a...

Oil refinery Valero has opted to close its operations in California due to excessive regulations on energy. Located in the small city of Benicia, the town is expected to lose 400 jobs, which the mayor is calling the exit “a major hit on the city.” Everyone in California is feeling the impact of Newsom’s war on fossil fuels. Valero said its decision ” follows years of regulatory pressure, significant fines for air quality violations, and a recent lawsuit settlement related to environmental concerns.” “California has been pursuing policies to move away from fossil fuels for really for the past 20...

Venezuelan electoral authorities on Sunday claimed that 95 percent of voters in a nonbinding referendum approved of the nation's territorial claim on a huge chunk of neighboring oil-rich Guyana.

Last Monday, the Iberian grid suffered a disturbance in the south-west at 12:33. In 3.5 seconds this worsened and the interconnection to France disconnected. All renewable generation then went off-line, followed by disconnection of all rotating generation plant. The Iberian blackout was complete within a few seconds. At the time the grid was producing 28.4 GW of power, of which 79 per cent was solar and wind. This was a problematic situation as solar and wind plants have another, not widely known, downside – one quite apart from their intermittency and expense.This is the fact that they do not supply...

The European Commission has published a "roadmap" outlining its plans to end Europe's reliance on Russian energy in the coming years. Under the plans, imports of all Russian gas and liquefied natural gas to European Union member states will be banned by the end of 2027. "No more will we permit Russia to weaponise energy against us... No more will we indirectly help fill up the [Kremlin's] war chests," European Commissioner for Energy Dan Jorgensen said in a news conference in Strasbourg on Tuesday. In response to the plans, Kremlin spokesperson Dmitry Peskov told the Reuters news agency on Tuesday...

(English-language translation) Sao Paulo - High-level officials with the Brazilian government are accusing Venezuelan President Hugo Chávez of "orchestrating" the plan for the return of deposed Honduran leader Manuel Zelaya, who is sheltered at the Brazilian Embassy, the local press reports. Advisors to Brazilian President Luiz Inácio Lula da Silva and the Foreign Ministry interviewed by Sao Paulo newspaper O Estado pointed out that the "infrastructure, the logistics, and the advice to specifically seek the Brazilian Embassy" for Zelaya's clandestine return were prepared by Chávez. Zelaya's unexpected bursting into Brazil's diplomatic legation has caused an unprecedented and hard-to-resolve conflict, since...

(English-language translation) How future events develop in Honduras rests on Roberto Micheletti's and Manuel Zelaya's prudence and sense, and their first task is to ensure that the deposed President's surprise return does not become the reason for any type of violence, as several governments, the Organization of American States (OAS), and the European Union have unanimously requested. However, there is the possibility that things get out of control. Therefore, Brazilian President Lula asked Zelaya yesterday not to take actions that may provide a pretext for government forces to intervene, and not to put the Brazilian Embassy installations in harm's way....