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Oil Industry

All articles tagged with #oil industry

Alito’s Recusal Sets Stage for High-Stakes Climate Liability Test
politics11 days ago

Alito’s Recusal Sets Stage for High-Stakes Climate Liability Test

The Supreme Court is set to hear oral arguments in Suncor v. Boulder County on October 5, a case that could grant oil companies broad immunity from climate-related damages lawsuits. Justice Samuel Alito has recused himself due to financial conflicts, potentially leading to a 4-4 split that would uphold the lower court’s ruling allowing the suit to proceed. The case tests whether federal law preempts state-level climate tort claims, with significant implications for thousands of similar lawsuits nationwide.

via Slate Magazine|
#climate-change#oil-industry#politics
energy-and-politics17 days ago

White House Weighs 90-Day Diesel Export Ban Amid Record Prices and Internal Clashes

The Trump administration is preparing a 90-day ban on diesel exports to lower record-high U.S. prices, a move opposed by energy officials and industry leaders who warn it will backfire. The decision is driven by political pressure from farm-state Republicans ahead of midterms, despite concerns that restricting exports will eventually raise gasoline and jet fuel costs.

via Politico|
#diesel-prices#energy-and-politics#energy-policy
Refinery push won’t instantly lower gas prices
business27 days ago

Refinery push won’t instantly lower gas prices

Trump’s push to reopen shuttered refineries and expand capacity isn’t expected to meaningfully lower current gas prices. Building or expanding refineries would take years to come online, and global refinery constraints—exacerbated by wars and supply disruptions in Russia, the Middle East, and Iran—keep prices high. Refiners are earning record margins, and oil companies are channeling windfall profits into exploration, pipelines, or shareholder returns rather than rapid refinery expansion, so the near-term price relief remains unlikely.

via CNN|
#business#energy-policy#gas-prices
US-Venezuela oil deal promises access to vast reserves amid uncertainty
world1 month ago

US-Venezuela oil deal promises access to vast reserves amid uncertainty

AP reports a new arrangement giving the US access to Venezuela’s oil reserves, with a claimed 55% of the output for the US, but crucial details like the operator, who funds investments, and the exact ownership split remain unclear. Analysts caution the process will take years and face logistical, political, and market hurdles, while reactions in Venezuela and in Washington are mixed—some praise the potential gain, others decry it as a power play. Major oil players such as Chevron and Exxon declined comment.

via AP News|
#capitol-hill#maduro#oil-industry
Fuel queues reveal Russia's energy strain amid Ukraine strikes
world2 months ago

Fuel queues reveal Russia's energy strain amid Ukraine strikes

Russia is experiencing widespread fuel shortages and rationing as Ukrainian strikes target oil depots and refining capacity, disrupting daily life and prompting government export bans. While Moscow has downplayed the crisis and some regions like Moscow show signs of relief, observers say nearly half of Russia’s refining capacity has been knocked offline since February, highlighting how the war is impacting the country’s energy sector and everyday transport.

via France 24|
#energy#fuel-shortages#oil-industry
politics4 months ago

Chevron cash becomes flashpoint in California’s governor race

Oil industry money has become a central issue in California’s governor’s contest, with Chevron and California Resources Corp donating to a committee backing Xavier Becerra and prompting Tom Steyer to attack him as “Big Oil Becerra.” Becerra defends his environmental record and a pragmatic path to the state’s 2045 fossil-fuel phaseout, while Steyer leans on climate credentials and anti-oil messaging. Despite endorsements from major green groups for Steyer, poll numbers show Becerra with a lead as voters weigh affordability and energy reliability, and while oil cash matters, it remains only a part of the race’s spending dynamics.

via Politico|
#california#campaign-financing#fossil-fuels
Newsom urges Californians to skip Chevron as gas prices surge for Memorial Day
politics4 months ago

Newsom urges Californians to skip Chevron as gas prices surge for Memorial Day

California Gov. Gavin Newsom’s office urged motorists to avoid Chevron stations over Memorial Day weekend, citing a state energy-commission analysis that Chevron prices run roughly 60–80 cents per gallon higher than unbranded fuel. With California averaging about $6.14 per gallon and a high gas tax, the move reflects ongoing tensions over oil profits and climate policies as the state contends with industry blame, refinery changes, and a global price uptick tied to geopolitics.

via ABC7 Los Angeles|
#california#chevron#gas-prices
Michigan targets oil giants in antitrust bid to slow clean energy transition
law7 months ago

Michigan targets oil giants in antitrust bid to slow clean energy transition

Michigan Attorney General Dana Nessel filed a federal-state antitrust lawsuit against BP, Chevron, ExxonMobil, Shell and the American Petroleum Institute, accusing a cartel-like conspiracy to delay the adoption of cleaner technologies (solar power and electric vehicles) to protect fossil fuels and keep energy costs high. The complaint frames an antitrust violation rather than climate misinformation, but experts say proving an actual agreement and damages will be challenging and could hinge on discovery; the suit faces potential motions to dismiss and questions of timing. The case echoes other climate lawsuits and comes amid a broader push in Congress for liability shields for oil interests.

via Ars Technica|
#antitrust#climate-policy#electric-vehicles