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SoCal Gas, which supplies natural gas throughout Southern California, warned consumers this weekend that their next bills will be unusually large, blaming what it calls unusually cold winter weather across the nation. In an email to consumers, the company wrote: There’s no easy way to put this: January bills are likely to be higher than usual. An unprecedented cold snap across the nation in part has caused natural gas market prices in the West to more than double between December and January – much higher than expected. As a result, SoCalGas residential customers can expect the typical January bill likely...

A subsidiary of a Chinese state-run energy firm signed a deal Thursday to extract oil in the Taliban-run Islamic Emirate of Afghanistan. Xinjiang Central Asia Petroleum and Gas, a subsidiary of the state-run Chinese National Petroleum Corporation, will invest up to $150 million annually, which will increase to $540 million in three years, to pump oil in the Amu River Oil Basin, according to a statement released by the Taliban government. The contract, which represents the Taliban administration’s first international energy deal, was signed in the presence of the Taliban’s Deputy Prime Minister for Economic Affairs Mullah Abdul Ghani Baradar...

The warning Southern California Gas Co. issued to its customers was unusually blunt: “There’s no easy way to put this,” the company said. “January bills are likely to be shockingly high.” Anyone who heats their home with natural gas is likely to see a January bill that is more than double what they paid a year earlier, SoCalGas said. A typical peak monthly bill of $65 from last winter will probably come in close to $160, SoCalGas said, a 146% increase. A $130 bill will be more like $315, up 142%. The increases result from the soaring wholesale price of...

The cold snap, the drought and Russia's war in Ukraine are fueling huge winter rate hikes. Southern California residents, get ready for a severe case of sticker shock as your natural gas bills across the region soar more than double this winter, according to the region’s two chief utility companies. “There’s no easy way to put this: January bills are likely to be shockingly high,” SoCalGas said in a Thursday, Dec. 29 announcement. “As a result, our customers can expect to see higher gas bills in the coming weeks.” Long Beach Utilities put out a similar statement on Wednesday, Jan....

Half a century ago, a series of oil crises caused widespread panic and led to profound shifts in U.S. culture

-Moscow is ready to resume gas supplies to Europe through the Yamal-Europe Pipeline, Russian Deputy Prime Minister Alexander Novak told state TASS news agency. "The European market remains relevant, as the gas shortage persists, and we have every opportunity to resume supplies," TASS cited Novak as saying in remarks published by the agency on Sunday. "For example, the Yamal-Europe Pipeline, which was stopped for political reasons, remains unused." The Yamal-Europe Pipeline usually flows westward, but has been mostly reversed since December of 2021 as Poland turned away from buying from Russia in favour of drawing on stored gas in Germany.

ALBANY, NY (WRGB) — Gas prices continue a downward trajectory -- a national average is $3.09, New York has an average of $3.43, and the Capital Region is averaging $3.41 a gallon, all of these numbers coming from AAA. We’ve seen local prices below $3. And a statewide gas tax suspension, as well as some local price cuts -- set to expire at the end of the year. “I wanted to make sure we had a long ramp to make sure before it’s resumed to what it had been, that we knew with certainty the prices would not continue to...

Natural gas has crashed by about 25% over the past week, from $7 to $5.38, and has been practically cut in half since $10 since Aug/Sept. What happened? Nothing unusual, producers got off their butts and overproduced while prices were high and killed the shortage. But the shortages in NE are due as much or more due to the lack of transport infrastructure to that region than actual shortage of the commodity...which is measured at salt dome/storage in TX and the midwest, NOT at the end of the pipe in Billerica, MA. This is a perfect example of the folly...

Multinational investment bank HSBC announced that it will no longer finance new oil and gas projects in order to meet the green agenda goals of globalist elites. The largest bank in Europe, which has nearly three trillion dollars in assets, has said that it will no longer finance new oil or gas fields to supposedly meet its commitments to achieving the UK government’s goal of reaching net zero carbon emissions by the year 2050. According to a report from the BBC, HSBC came to the decision after “follow[ing] consultation with leading scientific and international bodies”. In 2020, the British bank...

HSBC, Europe’s biggest bank, announced Wednesday it will no longer finance new oil and gas fields as part of its updated climate strategy. Climate campaigners welcomed the moved saying HSBC provided a new baseline for other major banks but urged the bank to go further. The bank said it would still provide financing to existing fossil fuel projects “in line with current and future declining global oil and gas demand.” It would also continue to provide finance and advisory services to energy sector clients but will assess the companies’ plans to transition to clean energy. “It sets a new minimum...

SACRAMENTO, Calif. (AP) — At Gov. Gavin Newsom’s prompting, California lawmakers kicked off a special legislative session on Monday to consider punishing big oil companies for their supersized profits during a time of record-high gas prices — the start of a likely lengthy process that will test the liberal Legislature’s resolve in the face of fierce industry opposition. California lawmakers briefly returned to the state Capitol on Monday to swear in new members and elect leaders for the 2023 legislative session. But this year, Newsom also has called lawmakers into a special session for the purpose of approving a penalty...

The Los Angeles City Council on Friday unanimously approved a ban on oil and gas drilling within the city limits, finalizing steps toward a ban that were first made at the beginning of the year. Council members approved 12-0 a resolution enacting an immediate ban on all new oil and drilling. The city will also decommission existing oil wells and operations within 20 years, according to a fact sheet. Before the vote, City Council President Paul Krekorian called the city’s forthcoming ban a “watershed moment” for climate action. “Part of [the city’s] economic growth was because of the oil and...

Xcel Energy-Colorado has filed a request for a new electric rate increase, which follows a recently approved natural gas rate hike and a $182.2 million jump in revenue for electric service that took effect in April. The request submitted to regulators Wednesday proposed a $312.2 million revenue increase. ... Critics of Xcel’s recent rate cases have accused the utility of “a pancaking” of increases. The PUC approved a $64.2 million rise in the utility’s natural gas rates in October. Regulators slashed the utility’s original proposal by $138 million. ... If the increase is approved, the typical residential bill would rise...

Believe it or not, gas prices are trading in the right direction. That direction is DOWN. The gas prices are possibly going to go under $3 on a national average soon, according to GasBuddy. In fact, gas at a couple of Western New York gas stations is $2.95 or less. GasBuddy, the popular website that pinpoints gas stations and their gas prices, reports that the national gas price is down to about $3.50. That is over 22 cents from when it was last month.

The Interior Department on Monday proposed rules to limit methane leaks from oil and gas drilling on public lands, the latest action by the Biden administration to crack down on emissions of methane, a potent greenhouse gas that contributes significantly to global warming. The proposal by Interior’s Bureau of Land Management would tighten limits on gas flaring on federal land and require energy companies to better detect methane leaks that add to planet-warming greenhouse gas pollution.

Biden’s war on fossil fuels may reduce funding for America’s national parks, according to the Western Energy Alliance, a nonprofit energy industry association for the U.S. West. The Great American Outdoors Act (GAOA), which was passed in August 2020, provides $1.9 billion for public lands and national park restoration, primarily from onshore oil and gas development on federal lands. The act combined the restoration and Land and Water Conservation funds, which supplies $900 million in matching grant money for state and local parks. No Federal Oil Biden campaigned on a promise that he was going to eliminate the oil industry,...

A catastrophic leak from a natural gas storage field in Cambria County likely released over one billion cubic feet of the potent greenhouse gas into the atmosphere. The incident demonstrates the importance of tracking — and punishing — methane emissions, a priority recently moved forward by both Congress and the federal Environmental Protection Agency. It also shows the urgency of implementing state-level regulations to control methane emissions from Pennsylvania’s oil and gas industry. Methane is the primary component of natural gas, and is fifty times more potent than carbon dioxide as a greenhouse gas. While CO2 grabs the headlines, CH4...

California's Air Resources Board has laid out a plan to ban all diesel-powered trucks that would cause inflationary ripples throughout the entire economy.The plan would mandate that all new trucks operating around busy railways and ports be zero emission vehicles by 2024 - while all diesel trucks would be phased out by 2035, and eventually, banishing every truck and bus fleet from California roads by 2045, where feasible, according to SFGATE.The proposed Advance Clean Fleets regulation first targets the busiest trucking areas in the state — around warehouses, sea ports and railways. The board says the pollution in these areas...

The Biden administration is set to give Chevron Corp. a license to pump oil in Venezuela, according to The Wall Street Journal. As part of the deal, Chevron would retain partial control of both production and maintenance for a select set of run-down oil fields it previously had stakes in with Petróleos de Venezuela SA, a state-run oil company in Venezuela, according to the WSJ, citing people familiar with the matter.

Citizens traveling over Thanksgiving weekend are in for more pain at the pump in President Joe Biden’s (D) America. In a report on Tuesday, GasBuddy said the “Projected average price of $3.68 on Thanksgiving Day will break record set 10 years ago.”