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Gas

All articles tagged with #gas

politics15 days ago•5 min saved

California gas-tax debate heats up as Trump pushes federal relief

With California’s drivers paying among the highest prices in the nation, Gov. Gavin Newsom faces growing pressure to suspend the state’s 61-cent gas tax even as President Trump advocates a temporary federal gas‑tax pause. Supporters say relief is needed, but Newsom and others warn that a federal pause would not fix underlying costs or fund road repairs, and state lawmakers have shown little appetite to suspend the state tax. Any federal action would require Congress, complicating the relief effort.

via New York Post|

#california #gas #gas-tax

world20 days ago•13 min saved

Trump’s ‘nuclear option’ on oil exports could lower gas prices, but at what cost?

The Independent reports that Donald Trump reportedly has a theoretical 'nuclear option' to lower U.S. gas prices by restricting crude exports, a move that could temporarily boost domestic supply but risk sparking a global recession and major trade frictions; White House officials say the idea isn’t under consideration, while analysts warn any price relief would likely be short‑lived given U.S. dependence on foreign crude and ongoing tensions with Iran, with gas averaging about $4.53 a gallon.

via The Independent|

#donald-trump #gas #iran

geopolitics27 days ago•21 min saved

Iran's Oil System Poised to Weather Shutdowns, but Gas Output Faces Greater Risk

The Center on Global Energy Policy argues that Iran’s oil sector can likely weather production shut-ins caused by the U.S. blockade, with potential cuts up to about half of pre-war output to avoid full storage, and a relatively quick recovery to around 70% of capacity if the blockade eases. However, gas fields are at greater risk due to lack of outlets for associated hydrocarbons, requiring rationing among exports, power, industry, and domestic use, and long-run capacity could erode from sanctions and financing/tech constraints. The analysis covers key Iranian oil regions (Khuzestan, West Karoun, offshore fields) and the giant South Pars gas field, noting that while oil restarts are typically feasible, gas output faces tighter constraints that could limit overall capacity over time.

via CGEP|

#blockade #gas #geopolitics

world-news28 days ago•24 min saved

First LNG tanker breaks through Strait of Hormuz as Iran war widens shipping disruption

An LNG tanker named Mubaraz carrying over 130,000 cubic meters of gas from the UAE became the first full gas tanker to exit the Strait of Hormuz since the Iran conflict began; its signal disappeared in March and reappeared west of India, now heading to Tianjin, China, and is managed by ADNOC’s subsidiary. Earlier in April an empty tanker crossed Hormuz, but more than a dozen gas tankers remain trapped in the Persian Gulf. Lloyd’s List data show a sharp drop in transits through the strait as tensions persist and Iran has threatened tolls and attacked vessels.

via New York Post|

#adnoc #gas #iran

energy-and-climate1 month ago•10 min saved

EU Unveils Emergency Energy Package as Gulf Conflict Shakes Global Supplies

The European Commission will roll out a sweeping emergency energy package to shield Europe from the Gulf war's ripple effects, proposing temporary tweaks to subsidies (covering up to 70% of wholesale power bills and up to 50% of extra fuel costs for some sectors), targeted tax cuts, and steps to coordinate gas and jet-fuel supply while continuing the climate agenda; officials warn real relief will take time and the situation remains volatile as member states juggle short-term fixes with long-term decarbonization.

via politico.eu|

#energy #energy-and-climate #eu

world1 month ago•18 min saved

IEA Warns War Damage Could Delay Oil, Gas Recovery for Two Years

It could take up to two years to restore a meaningful share of oil and gas production lost to the Iran war, says IEA chief Fatih Birol. The damage across the Persian Gulf and a largely closed Strait of Hormuz have removed hundreds of millions of barrels from the market, with spot crude approaching $150, and reopening shipping won’t quickly revive output—facilities must be repaired and restarted, a process that could take longer than two years for some LNG terminals. The disruption is already dampening demand, with Asia and Africa likely to feel the impact hardest as energy-importing economies grapple with higher prices and inflation.

via Crude Oil Prices Today | OilPrice.com|

#fatih-birol #gas #iea

world1 month ago•38 min saved

Gulf Gas Crunch Triggers Coal Rebound

A deepening conflict in the Persian Gulf has disrupted oil and gas markets and prompted Europe and Asia to turn back to coal as a readily available substitute amid a fresh gas supply crunch, with Asia’s LNG importers—Japan, South Korea and Taiwan—leading the expected rise in coal demand.

via Bloomberg.com|

#asia #coal #energy-security

world2 months ago•2 min saved

Energy under pressure as Iran’s gas network is hit amid widening conflict

Strikes on Iran’s gas infrastructure, including a pipeline supplying a Khorramshahr power plant and facilities in Isfahan, signal rising vulnerability of energy systems as the conflict broadens. The incidents could disrupt domestic supply and regional flows, potentially lifting energy prices and inflation with spillovers to currencies and rates; reports come from Fars News Agency and are part of ongoing monitoring of escalating tensions.

via investingLive|

#conflict #energy #gas

finance-and-economics2 months ago•6 min saved

Hormuz disruption pushes energy markets into a higher-for-longer regime

Shut Strait of Hormuz keeps about a fifth of worldwide oil and LNG supply stranded, pushing Brent to around $112 and European gas prices up sharply, signaling a persistent energy shock that traders expect to endure even in the best-case scenario.

via The Economist|

#energy #finance-and-economics #gas

world2 months ago•3 min saved

Russia Ships Fuel to Cuba, Escalating a Crisis Under Blockade

Russia dispatched two tankers—Sea Horse with roughly 27,000 tons of gas and Anatoly Kolodkin carrying about 725,000–728,000 barrels of oil—to Cuba, its first energy shipments in three months, as Havana struggles with shortages amid the U.S. blockade; Sea Horse is due soon and Anatoly Kolodkin in early April, with Moscow pledging ongoing support.

via The Moscow Times|

#blockade #cuba #gas

world2 months ago•6 min saved

Iran Vows Zero Restraint as Energy Shock Flags Global Market Turmoil

Iran’s foreign minister warned of “zero restraint” if its energy infrastructure is hit again, after Israel struck the South Pars gas field and Iran retaliated against Qatar’s Ras Laffan complex. QatarEnergy estimated about $20 billion in damage, with 12.8 million tonnes per year of LNG offline for 3–5 years, threatening European supplies. The incidents sent oil and gas prices higher and fueled a global market selloff, while world powers urged de-escalation and discussed safe passage through the Hormuz Strait.

via The Guardian|

#energy-security #gas #geopolitics

us-news2 months ago•21 min saved

Gas pumps flirt with $4 as Iran conflict jacks up NYC prices

New Yorkers faced a gas-pump shock as regular unleaded averaged $3.58 a gallon in NYC—up from $2.86 three weeks earlier, with some stations flirting with $4—as the Iran-related disruption of the Strait of Hormuz pushed prices higher. The national average rose 26 cents in a week to $3.68, about a 70-cent jump since the war began. President Biden ordered the release of 172 million barrels from the Strategic Petroleum Reserve—the largest in U.S. history—to ease shortages, though it will cover only roughly eight days of demand. With crude around $100 a barrel and cleaner, summer-blend gasoline more expensive to produce, the surge may linger for a while.

via New York Post|

#gas #gas-prices #iran

business2 months ago•11 min saved

Wall Street Misreads the Trump-Driven Oil Shock

Daily Kos argues that Wall Street is underestimating a mounting oil crisis triggered by Trump’s Iran conflict, as UAE, Iraq, Saudi Arabia, and Kuwait cut production by up to 6.7 million barrels per day (about 6% of global supply) and the Strait of Hormuz faces disruption, implying prolonged price volatility and higher gasoline costs even if stock markets stay buoyant.

via Daily Kos|

#business #gas #iran

energy2 months ago•6 min saved

Europe braces for fresh energy shock as Iran conflict rattles markets

A renewed geopolitical crisis around Iran pushes oil above $100 and lifts European gas prices, reviving 2022-style energy fears as shipping routes in the Strait of Hormuz become a flashpoint. G7 ministers contemplate emergency measures while EU officials discuss stockpiles and potential price tools, with analysts warning that a protracted war could trigger a broader inflationary, stagflationary hit for Europe.

via politico.eu|

#energy #europe #gas

world2 months ago•10 min saved

Iran's energy lifeline under fire after Israeli strikes

Israeli strikes on Iran's fuel depots reveal Tehran's fragile energy lifeline: the regime relies on oil exports—about $40 billion in 2025 from roughly 2 million barrels per day—largely sold to China through a sanctioned ghost fleet, while aging gas-gens and cyberattacks threaten domestic power. A hit to key hubs like Bandar Abbas could trigger fuel shortages and unrest, even as global markets feel the spillover with oil near $100 a barrel and U.S. gasoline prices rising, prompting discussion of long-term energy-protection strategies after any regime change.

via The Jerusalem Post|

#energy-security #gas #iran