BP posts its highest profits in 14 years, raking in $8.5 billion amid gas pump crisis

Comment on this story comment LONDON — BP on Tuesday reported $8.5 billion in profit for its second quarter, the highest in 14 years, becoming the latest oil giant to benefit from higher crude prices as Russia’s war in Ukraine disrupts global energy markets Has. Just days earlier, the two biggest US oil majors — … Read more

Putin’s new gas push dooms Europe to a recession and a harsh rationing winter

Europe has so far got about 45% of its annual gas supplies from Russia. Leonhard Foeger | Reuters Europe’s descent into economic contraction appears to have been confirmed as Russia cuts natural gas supplies to the region and heavy industry faces severe rationing in the coming months. Just days after Europeans breathed a sigh of … Read more

4 factors that could determine whether gas prices will fall further

Drivers have seen it at the pump, and Biden administration officials have repeatedly touted it in recent days: Gasoline prices are falling, and have been for weeks. While the price drop is a welcome respite for Americans whose budgets have been stretched by higher costs for almost everything, it’s reasonable to ask: Will this last? … Read more

4 factors that could determine whether gas prices will fall further

Drivers have seen it at the pump, and Biden administration officials have repeatedly touted it in recent days: Gasoline prices are falling, and have been for weeks. While the price drop is a welcome respite for Americans whose budgets have been stretched by higher costs for almost everything, it’s reasonable to ask: Will this last? … Read more

Americans are reconsidering electric vehicles in the face of rising gas prices

Gasoline prices hit an all-time high of $6 for premium lead at retail outlets from Exxon to Shell to Luke Oil to BP in July this year, but fell sharply to $5.59, at least in New Jersey, forcing many US car owners to do so Reconsider whether going for an electric vehicle (EV) is wiser … Read more

Hilcorp Energy, Exxon Mobil and ConocoPhillips emit the most greenhouse gases among US oil and gas companies

A pumpjack pumps oil into the Inglewood Oil Field as seen from Kenneth Hahn State Recreation Area July 13, 2022 in Los Angeles, California. – US consumer price inflation rose 9.1 percent in the 12 months to June, the fastest rise since November 1981, according to government data released July 13. Driven by record-high gasoline … Read more

Hilcorp Energy, Exxon Mobil and ConocoPhillips emit the most greenhouse gases among US oil and gas companies

A pumpjack pumps oil into the Inglewood Oil Field as seen from Kenneth Hahn State Recreation Area July 13, 2022 in Los Angeles, California. – US consumer price inflation rose 9.1 percent in the 12 months to June, the fastest rise since November 1981, according to government data released July 13. Driven by record-high gasoline … Read more

Gas prices, a major factor in inflation, are falling sharply

HOUSTON – Gasoline prices, which have risen sharply in recent months, reversed course in July, giving consumers a welcome respite. Gasoline was one of the main reasons US consumer prices in June were up 9.1 percent year-on-year, the largest annual increase in four decades. But now gas prices have fallen for 28 straight days, the … Read more

Putin wants Europe to panic over gas supplies

text size Russian natural gas supplies to Europe via the Nord Stream pipeline to Germany were halted on Monday due to planned periodic maintenance work. Krisztian Bocsi/Bloomberg About the author: Margarita M. Balmaceda is a professor in the School of Diplomacy and International Relations at Seton Hall University, an associate at the Harvard Ukrainian Research … Read more

California cities ban new gas stations in fight against climate change

Unbeknownst to them, they’ve started a movement in green energy politics, so leaders in a small Sonoma County town seem to have done just that when they questioned the permitting process for a new gas station — and eventually its development and others in the future stopped. “Actually, we didn’t know what we were doing,” … Read more