President Biden will also open the door to additional oil reserve releases this winter in an effort to bring prices down.
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Posted inBusiness, Nation & World, News
Biden vows ‘consequences’ for Saudis after OPEC+ cuts output
It remains to be seen how far President Biden is willing to go in showing his displeasure with Saudi Arabia, a vital but complicated ally in the Middle East.
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Posted inBusiness, Nation & World, News
Climate bill positions big oil and gas companies to cash in
Billions of dollars of new subsidies for carbon capture technology are a signature component of the $370 billion climate package President Biden signed into law last month.
Posted inBusiness, Nation & World, News
The U.S. is the world’s largest oil producer. You’ll still pay more for gas.
When supply in the market contracts slightly – as it will with OPEC Plus’s decision last week to cut production – that can affect prices in the U.S.
Posted inBusiness, Nation & World, News
OPEC+ makes big cut to oil production to increase prices
The Saudi oil minister rejects the implication that OPEC was assisting Russia, saying the discussion was in a nonpolitical ‘silo’ where the focus was prudent management of oil markets.
Posted inMaine Voices, Op-eds, Opinion
Maine Voices: The next American climate disaster can be averted
A huge oil drilling project known as Willow is set for the North Slope of Alaska. The plan makes a mockery of U.S. climate commitments.
Posted inEditorials, Opinion
Our View: Use obscene oil profits to heat homes this winter
People in Maine and elsewhere shouldn’t struggle to buy essentials while multinational corporations make record profits.
Posted inNews
UN chief criticizes ‘grotesque greed’ of oil, gas companies
Antonio Guterres calls it ‘immoral’ that the largest of them made nearly $100 billion in profits in the 1st quarter.
Posted inLocal & State, News
Gov. Mills seeks more federal aid for heating assistance
With 60 percent of homes relying on oil heat, Gov. Janet Mills said residents are ‘distinctly vulnerable’ to high oil prices this winter and more funding is needed for the Low Income Home Energy Assistance Program.
Posted inBusiness, Local & State
New England fuel dealers plot their future in a rapidly electrifying world
As more mandates and incentives are rolled out to fight climate change, a strategy emerges to cast doubt on electrification while talking up renewable liquid fuels.