Tariffs on Maine’s biggest trading partners are set to go into effect Tuesday.
oil prices
Posted inBusiness, Nation & World, News
What’s next for oil and gas prices as Middle East tensions heat up?
The global supply of oil has been altered radically since the 1970s, with the U.S. becoming the world’s largest oil producer.
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Schumer, Democrats urge Justice Department to prosecute alleged oil industry collusion, price-fixing
The Democrats say a recent FTC investigation uncovered evidence of price-fixing by oil executives that led to higher energy costs for American families and businesses.
Posted inBusiness, Local & State, News
Mainers are paying less to heat homes and fill vehicles this winter. Here’s why.
Weak global demand and higher domestic oil production have led to energy savings for consumers so far this winter.
Posted inBusiness, Nation & World
Chevron buys Hess for $53 billion, 2nd mega oil merger this month as energy prices soar
The Chevron-Hess deal comes less than 2 weeks after Exxon Mobil said that it would acquire Pioneer Natural Resources for about $60 billion.
Posted inBusiness, Local & State, News
Fifty years ago, the energy crisis officially began. And it hasn’t ended.
An attack in the Mideast led to an oil embargo in the West, and Mainers learned just how precarious their energy situation could be. The repercussions remain.
Posted inBusiness, Nation & World
Saudi Arabia extends cut of 1 million barrels of oil a day, potentially boosting prices at the pump
A series of production cuts over the past year has failed to substantially boost prices amid weakened demand from China and tighter monetary policy aimed at combatting inflation.
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Surging oil prices could again frustrate inflation fight
Saudi Arabia and other leading oil producers will slash output by more than 1 million barrels a day starting in May.
Posted inBusiness, Nation & World, News
Biden approves major oil drilling project in Alaska over protests
The administration, in a move in the other direction toward conservation, earlier said it would bar or limit drilling in some other areas of Alaska and the Arctic Ocean.
Posted inBusiness, Nation & World, News
Russia to cut oil production in retaliatory move that pushes prices up
The Kremlin is retaliating against a price cap imposed on its oil by the West. Oil prices edged up as a result.