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Norway’s revenues from oil and gas production hit a record high this year and are showing no signs of slowing down Norwegian Prime Minister Jonas Gahr Støre believes that a total end to oil exploration and production would harm the transition to renewable alternatives in a world still so reliant on oil and gas. He stated, "If we were to say from one day to the other that we close down production from the Norwegian shelf, I believe that would put a stop to an industrial transition that is needed to succeed in the momentum towards net zero . ....

Germany said on Sunday it was continuing to work closely with the United States on implementing a deal on the Nord Stream 2 pipeline, which runs under the Baltic Sea and carries gas from Russia to Germany.Germany's foreign ministry said it continued to coordinate closely with the U.S. administration on implementing a joint declaration on the $11 billion pipeline....The document also said Nord Stream 2 presented "no threat to Ukraine as long as reasonable gas transit is ensured," and referred to potential sanctions on the pipeline as "a victory for Putin" as it would divide Western allies, Axios added.

When President Biden announced earlier this week that the federal government would be releasing 50 million barrels of crude from the strategic petroleum reserve, perhaps those around him expected prices to go down significantly and stay down. Instead, prices rose, and OPEC+ gave a heavy hint it might cut supply. By Friday, oil prices fell sharply, but that was due to a new wave of Covid-19 fears and has little if anything to do with Biden's announcement that oil would be unleashed from emergency stockpiles. "It's not going to work simply because the strategic petroleum reserve — any country's strategic...

PRES. BIDEN: "My effort to combat climate change is not raising the price of gas...what it's doing, it's increasing the availability of jobs."

Republicans ridiculed President Biden's energy secretary on Wednesday after she admitted she did not know how many barrels of oil were consumed each day in the United States. 'How incompetent is the Biden administration?' asked Ronna McDaniel, chair of the Republican National Committee. 'Biden’s energy secretary doesn’t even have a rough idea of how many barrels of oil the U.S. uses in a day.' A day earlier Jennifer Granholm appeared in the White House briefing room to trumpet the administration's moves to release 50 million barrels of oil from the nation's strategic reserve as it sought to ease crippling gas...

With great fanfare from the press and a shrug from the markets, Presidentish Joe Biden announced his plan to basically do nothing about the high price of oil and gas. Of all the inflationary pressures putting the squeeze on Americans’ household budgets — beef up 20% since 2020, pork up 14%, ham up 7%, chicken up 9%, seafood 7%, eggs up 12% — perhaps none has hurt as much as the increase in the price of a gallon of gas. Gas is up an average of 57% this year, with corresponding increases of 44% for diesel and a whopping 60%...

JUST IN - Saudi Arabia, Russia consider pausing planned oil production increases after the U.S. and others release crude to push prices lower (WSJ)

Energy Secretary Jennifer Granholm called on United States’ oil companies to increase production to try to help bring down the elevated prices Americans are paying at the pump. Granholm’s comments came during a Nov. 23 White House press briefing, hours after President Joe Biden ordered 50 million barrels of oil released from the nation’s Strategic Petroleum Reserve (SPR)—the largest ever release. “We want to encourage [oil companies] to increase supply,” said Granholm. “We want supply to be increased both inside the United States and around the world so we can reduce the pressures at the pump.” Domestic oil production continues...

The United States Oil ETF (NYSE: USO) traded higher by 2.4% on Tuesday after President Joe Biden announced he will be releasing oil from U.S. strategic reserves in an attempt to lower global gasoline prices. What Happened? The White House said Tuesday the U.S. will release 50 million barrels of crude oil from its Strategic Petroleum Reserve. The decision is part of a coordinated effort with China, Japan and other energy consuming nations to combat a rapid rise in energy prices. U.S. gasoline prices are currently near seven-year highs. Why It’s Important: The coordinated oil release includes U.S., India, China,...

Oil prices rose above $81 a barrel on Tuesday morning after the Biden administration announced the U.S. and other nations would release tens of millions of barrels of oil from reserves in a ploy to lower prices. The price of Brent, the global benchmark, rose by more than two percent following the announcement that the U.S. would be releasing 50 million barrels from the Strategic Petroleum Reserves. China, India, South Korea, Japan, and Britain are also planning to release reserves, the White House said.

The White House announced Tuesday morning President Joe Biden plans to tap the strategic oil reserve as gas prices across the country continue to surge. "Today, the President is announcing that the Department of Energy will make available releases of 50 million barrels of oil from the Strategic Petroleum Reserve to lower prices for Americans and address the mismatch between demand exiting the pandemic and supply," the White House released in a statement. "The U.S. Department of Energy will make available releases of 50 million barrels from the Strategic Petroleum Reserve in two ways: 32 million barrels will be an...

Oil futures ended higher Monday, lifted after a news report said the Organization of the Petroleum Exporting Countries and its allies could rethink plans to continue with modest output increases if the U.S. and other energy-consuming countries follow through on plans to release crude from strategic reserves. Meanwhile, President Joe Biden could announce a release from the U.S. Strategic Petroleum Reserve alongside other countries as early as Tuesday, Bloomberg reported.

The Biden administration auctioned off over 80 million acres in the Gulf of Mexico for oil drilling Wednesday despite a campaign promise to ban new oil and gas leasing, the Boston Globe reported. The auction is the largest offshore oil and gas lease sale in the United States, according to the Boston Globe. The new leases will produce 1.1 billion barrels of oil and 4.4 trillion cubic feet of natural gas, according to a Department of the Interior estimate, the Globe reported.

The move will be part of a coordination by the Energy Department with other major energy consuming nations including China, India, Japan, the Republic of Korea and the United Kingdom, according to the White House. The White House also said the department will make available releases of 50 million barrels of oil from the reserve in two ways: 18 million barrels will be an acceleration into the next several months of a sale of oil that Congress had previously authorized. 32 million barrels will be an exchange over the next several months, releasing oil that will eventually return to the...

After President Biden — along with a good portion of his cabinet — returned from a U.N. climate summit in Scotland, his administration proceeded with the sale of oil drilling rights covering more than 100,000 square miles — some eight million acres — in the Gulf of Mexico on Wednesday in the latest instance of Biden's pandering to the woke crowd not working in the real world. As The Associated Press reported from Scotland, Biden bowed before climate change fanatics as he told world leaders that "the United States and other energy-gulping developed nations bear much of the responsibility for...

Some U.S. lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the OPEC oil cartel to the same antitrust laws used more than century ago to break up Standard Oil’s monopoly.

God help us...

The Biden administration is preparing to sell off more than 80 million acres of the Gulf of Mexico to oil and gas drilling companies in the largest federal offshore drilling auction in U.S. history—less than a week after the UN climate change conference COP26, where nearly 200 nations promised to reduce fossil fuel emissions. The annual Gulf of Mexico lease sale is planned for November 17 in New Orleans. The 80 million acres on sale is expected to produce around 1.12 billion barrels of oil and 4.2 cubic feet of natural gas over the next 50 years. The controversial auction...

Left-wing documentary director Josh Fox pleaded with Twitter users on Friday to stop showing Kyle Rittenhouse’s face because, in his view, the Illinois teenager “murdered my brothers.” Fox, who is the director of the debunked anti-fracking documentary Gasland and eventually downgraded to a contributor for The Young Turks, immediately saw his content policing backfire with a wave of pro-Rittenhouse memes in the replies. The filmmaker insisted that he “needed” everyone to start posting “warnings” in posts containing images of the teenager who is standing trial in Wisconsin. Fox is so triggered by the images of Rittenhouse that he is demanding...

Ahead of the Thanksgiving travel season, gas prices have reached staggering highs with most states averaging $3.42 per gallon for regular gas, according to AAA. California topped the list of states with the highest gas price averages at $4.68 per gallon for regular gas as of Friday.