Biden

Nations may be working to transition to net-zero carbon, but recent events prove that it will be decades before oil and gas are replaced by alternative energies, according to IHS Markit Vice Chairman Daniel Yergin.

The U.S. oil and natural gas industry need not fear a federal drilling ban — for now — but royalty rates may be hiked for the first time in a century and leasing terms could be tightened based on an analysis by the Department of Interior. After taking office in January, President Biden issued Executive…

With gasoline prices recently hovering near multi-year highs and crude production lagging demand in 2021, President Biden on Tuesday said his administration would tap the Strategic Petroleum Reserve (SPR) as part of a broader international move to boost supply and curb costs at the pump. The United States is coordinating the release along with similar…

U.S. oil stocks fell for the first time in four weeks as Americans shrugged off lofty prices and demand rose, the U.S. Energy Information Administration (EIA) said Wednesday. EIA said crude inventories for the week ended Nov. 12, excluding those in the Strategic Petroleum Reserve (SPR), decreased by 2.1 million bbl from the previous week.…

The United States is set to impose sweeping limits on methane emissions from oil and gas operations as the Biden administration ups its commitment to tackle global warming. Once enacted, the rule’s impact on natural gas and oil prices from 2023-2035 would cost “pennies per bbl of oil or Mcf of gas,” the Environmental Protection…

U.S. liquefied natural gas (LNG) exports are not to blame for the sharp spike in Henry Hub prices, according to a leading trade group.  “The idea that LNG is having some outsized impact on price is mathematically impossible when we actually start to dig into this,” said Executive Director Charlie Riedl of the Center for…

A roundup of news and commentary from NGI’s LNG Insight U.S. natural gas exports are needed across the world as buyers face shortages, the Biden administration said. “There’s a natural gas shortage around the world, hence the need for the United States to continue to export natural gas,” said White House Press Secretary Jen Psaki…

Wyoming’s two main oil and gas trade groups are seeking to expedite the resumption of oil and gas leases on federal property by the Department of the Interior (DOI). In a merits brief filed Aug. 30 in Wyoming District Court, the Western Energy Alliance and the Petroleum Association of Wyoming (PAW) allege that DOI is…

The U.S. government confirmed in a court filing it would resume federal oil and gas lease sales — and established a timeline — to comply with a ruling that called for an end to the Biden administration’s moratorium. Critics, however, noted that Biden administration officials intend to stretch the process out over several months as…