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U.S. intelligence chiefs ordered agencies to tighten surveillance on Greenland, the first tangible step toward President Donald Trump’s oft-stated goal of bringing the Arctic island under American control, sources leaked to The Wall Street Journal. The directive instructed the Defense Intelligence Agency (DIA), National Security Administration (NSA) and the CIA to identify Greenlandic and Danish figures who might back U.S. objectives and to gauge public sentiment toward American resource extraction, the outlet reported Tuesday. Its emergence triggered immediate pushback from Director of National Intelligence Tulsi Gabbard, who accused unnamed officials of leaking in order to thwart the administration. “The Wall...

The head of the largest independent oil producer in the Permian Basin predicts US shale production has peaked and will likely decline from here as oil prices hover near four-year lows."We have a very good view of what the US looks like. And right now that's a business that's slowing dramatically and likely declining in terms of production," Diamondback Energy (FANG) CEO Travis Stice said during the company's earnings call on Tuesday morning.Stice, who is slated to step down and become executive chairman later this month, issued a shareholder letter on Monday in which he pointed to declining crew count...

As the Line gigaproject continues to grow in the Saudi desert, some new construction details have been announced that highlight the mind-boggling challenge of turning a huge tract of rugged landscape into a futuristic megacity, including its reported use of one fifth of the entire world's currently available steel.To recap, the Line is the key part of Saudi Arabia's Neom project, which is itself part of a larger push to transform the country's predominantly oil-based economy into a tourism-focused one as fossil fuel use is inevitably reduced in the coming years.The plan is for the Line to eventually have a...

Oil prices barely moved on Tuesday as investors weighed the impact of U.S. tariffs on countries buying oil and gas from Venezuela against the effect of tariffs on industries such as automobiles on the global economy and oil demand. Brent crude futures were up 1 cent at $73.01 a barrel by 0121 GMT. U.S. West Texas Intermediate crude rose 1 cent to $69.12. Both benchmarks gained more than 1 per cent on Monday after U.S. President Donald Trump announced a 25 per cent tariff on countries importing oil and gas from Venezuela. "Investors fear Trump's various tariffs could slow the...

Nvidia, the world’s undisputed leader in chipmaking, says it will invest hundreds of billions of dollars over the next four years on its U.S.-based manufacturing operations — part of the manufacturing renaissance under President Donald J. Trump as he solidifies the U.S. as the global leader in artificial intelligence.“Having the support of an administration who cares about the success of this industry and not allowing energy to be an obstacle is a phenomenal result for AI in the U.S.,” said Nvidia CEO Jensen Huang.Here’s what they’re saying:Axios: “It’s another win for President Trump’s push to increase U.S. manufacturing, with a...

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...

Department of the Interior Secretary Doug Burgum is taking immediate steps to unleash Alaska’s untapped natural resource potential and support President Donald J. Trump’s vision of American Energy Dominance. Under the Secretary’s leadership, the Bureau of Land Management will pursue steps to expand opportunities for exploration and development in the National Petroleum Reserve in Alaska and the Coastal Plain of the Arctic National Wildlife Refuge. The BLM will also work towards partial revocation of public land withdrawals that will help solidify the path forward for the proposed Ambler Road and Alaska Liquified Natural Gas Pipeline projects. “It’s time for the...

LOS ANGELES, Calif. — As Californians grapple with the aftermath of devastating wildfires, a pressing question looms: Who will bear the financial burden of rebuilding the Los Angeles area? While some point to politicians, others are calling for fossil fuel producers to be held accountable. Christina Scaringe, California Climate Policy Director for the Center for Biological Diversity's Climate Law Institute based in Sacramento, said they are working on a climate superfund bill aimed at holding major fossil fuel companies responsible for their climate impacts.... ...Scaringe emphasized that the bill is about fairness and affordability for Californians. ....The proposed climate superfund...

The first season of the Paramount+ series Landman has turned out to be a very surprising hit. Not merely because of the incredible acting by Billy Bob Thornton as the landman Tommy Norton, or by Jon Hamm as Monty Miller the oil company CEO, but also surprisingly because it has been giving the audience economic lessons, told in an entertaining manner, on the importance of the petroleum industry. The final episode of the season, although quite thrilling in its development (no spoilers here) was equally as impressive for what it revealed about the oil business starting with the opener of...

Frank Capra’s It’s a Wonderful Life is one of cinema’s most enduring classics, a sentimental yet profound exploration of how one person’s contributions ripple through a community. The story’s alternate timeline, where George Bailey never existed, paints a grim picture of what life would be like without his sacrifices. Inspired by this tale, let’s imagine an alternate reality of a different sort—a world where fossil fuels never existed. Could we, like George’s Bedford Falls, find ourselves in a global Pottersville? Let’s explore how the absence of fossil fuels might affect the very fabric of our lives, from economic systems to...

Most Americans don’t understand the risks of renewable energy or view traditional energy sources like oil and gas as essential to their livelihoods, a new poll found, as a Republican trifecta in Washington prepares to pass an extensive energy agenda early next year. As many as 57% of US voters are not aware that the “United States is at an elevated risk of energy shortfalls,” compared to 43% who were well privy to elevated risks of energy shortages, according to a poll from the American Energy Institute exclusively shared with The Post. About two-thirds of US grids have been vulnerable...

The Enemies of Food FreedomIn every war, there is necessarily an enemy force, and the war on our food supply is no exception. My previous article addressed the ongoing attacks on farmers across the globe. In today’s article, we will look at some of the culprits behind this agenda. For anyone who delved into the entities behind the tyrannical Covid policies, many names on the list below will seem quite familiar.Bayer/MonsantoBayer merged with Monsanto in 2018, combining the companies responsible for Agent Orange and pioneering chemical warfare. In 1999, Monsanto’s CEO Robert Shapiro bragged that the company planned to control...

Move to phase out voluntary cuts depends on market conditions Oil futures headed lower on Monday as traders assessed a decision by the OPEC+ to extend cuts by the group into 2025 but to begin unwinding some additional voluntary reductions later this year. West Texas Intermediate crude CL00, -2.69% for July delivery CL.1, -2.74% CLN24, -2.69% was down $2, or 2.7%, to $74.94 a barrel on the New York Mercantile Exchange. August Brent crude BRN00, -2.38% BRNQ24, -2.43%, the global benchmark, fell $1.72, or 2.1%, to $79.39 a barrel on ICE Futures Europe. July gasoline RBN24, -2.12% declined by 2.1%...

When are we going to run out of energy? You don’t hear that as much as you used to, since Those Who Know Best are working to plug up all our energy sources anyway. Most energy sources put out carbon dioxide, and that’s going to make all the plants grow and devour us all, or it will heat the planet up and make Minneapolis a desert — and we’ll all fry. Or something. But we don’t hear much any more about running out of energy. What do the experts say about it? “According to the U.S. Energy Information Administration’s (EIA)...

The USA has called for Ukraine not to attack Russian refineries despite Russia's widespread offensive against several energy facilities in Ukraine. The Department of Defense has warned that such an attack could bring another spike in fuel prices worldwide. Michaelo Podoliak, advisor to Ukrainian president Volodymyr Zelenskyy, claimed that such facilities were legitimate military targets. In a recent interview, he also claimed that such an attack was not only legitimate but desirable on a worldwide level in order to weaken Russia's hold on the energy lobby. “Ukraine must destroy Russia's refineries. They have no impact on worldwide pricing, and are...

In March, Energy Secretary Jennifer Granholm had stated that the SPR would be refilled by the end of 2024. The Biden administration is reportedly putting a hold on plans to replenish the nation’s energy stockpiles, citing cost. The Energy Department announced it would not be purchasing 3 million barrels of oil as part of an effort to refill the Strategic Petroleum Reserve, according to Bloomberg, saying it is “keeping the taxpayer’s interest at the forefront.” The administration’s target for the buys is $79 a barrel, but its purchase of 2.8 million barrels last month averaged approximately $81 per barrel. Oil...

What is it about fossil fuels [PETROLEUM products] and the people who produce them that brings forth such uncontrolled hatred, anger, and vengefulness in a very large segment of the population? I’ve been trying to figure out the answer to that question for many years, but I’m no closer today than when I started. I look at the use of fossil fuels in the world, and somehow I see enormous benefits to mankind — reliable electricity, transportation of people locally and at long distances, and of freight to enable worldwide trade, comfortable heating and cooling of homes, refrigeration to preserve...

U.S. oil production reached a record 13.2 million barrels per day, significantly increasing exports, especially to Europe and Asia. End-of-year tax considerations are prompting traders to export more oil to reduce taxable inventory, with exports expected to average 5 million barrels per day. The integration of WTI Midland in the Brent basket and the European embargo on Russian oil have contributed to the growing popularity of U.S. crude in global markets.

SAN RAMON, Calif. & NEW YORK, October 23, 2023 — Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt, of the transaction is $60 billion.

Prices at the pump remain on track to keep falling in the United States despite the Israel-Hamas war, according to energy industry analysts. After Hamas’ surprise attack over the weekend, global crude oil jumped to more than $87 a barrel by Monday, from below $83 late last week — roughly a 5% increase. Prices have since retreated, clocking in at $83.62 Wednesday morning. But Israel and its immediate neighbors aren’t major energy producers, so as long as the conflict doesn’t expand geographically, seasonal trends should continue much as they have for the last few weeks, said Tom Kloza, global head...