The U.S. Oil & Gas Association on Wednesday suggested that President Biden is now forced to turn to the U.S. oil industry after tapping out strategic reserves and OPEC+ cut production.
said earlier Wednesday he would release 10 million more barrels of oil from the U.S. Strategic Petroleum Reserve to combat rising prices. That announcement came just hours after the Organization of the Petroleum Exporting Countries said it would be cutting oil production by 2 million barrels a day.
The White House condemned the OPEC+ decision and said in a joint statement released by National Security Adviser Jake Sullivan and NEC Director Brian Deese that Biden was "disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine."Oil is trading well below its summer peaks because of fears that major global economies such as the U.S.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil and gas exploration and development in the Lake Eyre Basin: distribution and consequences for rivers and wetlands, including the Coongie Lakes Ramsar SiteContext Altered flooding regimes and pollution threaten the world’s wetlands, including floodplains of the largely free-flowing rivers.Aims We investigated the distribution of current and future oil and gas production and exploration on the floodplains of the Lake Eyre Basin.Methods We compiled these data and their associated infrastructure across the basin floodplains, including the Coongie Lakes Ramsar Site.Key results There were 831 oil and gas wells across the Lake Eyre Basin, predominantly (98.6%) on Cooper Creek floodplains, with 296 wells in the Coongie Lakes Ramsar Site, with 281 well pads, roads (870km) and 440 storages. Only eight referrals occurred under the Environment Protection and Biodiversity Conservation Act 1999, despite potential Ramsar wetland impacts. Future oil and gas production licences, primarily unconventional gas production, covered ∼2.91×106ha (Cooper Creek), 0.63×106ha (Diamantina) and 1.03×106ha (Georgina) of the floodplains.Conclusions and implications Oil and gas production and exploration disrupt flooding regimes, with pollution (spills and greenhouse gas emissions). Little rigorous environmental assessment existed to protect the Lake Eyre Basin rivers and Coongie Lakes Ramsar Site, despite state and Commonwealth legislation and policy for protection, which remain largely ineffective in controlling oil and gas development on this free-flowing river.
Read more »
Argentine Oil Subsidiary YPF Luz Powering Bitcoin Mining Activities With Residual Gas – Mining Bitcoin NewsYPF Luz, a subsidiary of the Argentine state-owned YPF, is running a pilot project to take advantage of residual gas to power Bitcoin mining operations.
Read more »
Oil and gas methane emissions could be solved this decade, experts sayEmissions of methane, a potent greenhouse gas, from oil and gas infrastructure could be stamped out within the next 10 years, industry experts said on Tuesday.
Read more »
As gas prices hit another record, judge dismisses class-action lawsuit accusing oil companies of colludingIn a more than 100-page ruling, Judge Jinsook Ohta said there is not enough evidence of collusion to allow the case to proceed to trial
Read more »
OPEC+ weighs large oil production cutback, a move that could raise US gas pricesThe OPEC+ alliance of oil-exporting countries on Wednesday will debate a potentially large cut in the amount of crude it ships to the global economy.
Read more »
OPEC+ weighs large oil production cutback, a move that could raise US gas pricesThe OPEC+ alliance of oil-exporting countries on Wednesday will debate a potentially large cut in the amount of crude it ships to the global economy.
Read more »