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The changes mean that Mexico can’t drill for as much oil, just as the world is seeking alternate sources to Russian oil because of the war in Ukraine.
“Crack spreads” are higher than ever. But investors aren’t interested in dumping money into fossil fuel expansion.
Outsize profits and stock buybacks are inviting more scrutiny from policymakers and environmental advocates.
The war in Ukraine is forcing the U.S. to reconsider its dependence on oil.
The move shows the president is trying to bring down prices, but he also appears to be going back on his word to curb oil and gas production.
Plastics are regarded as “Plan B” for the fossil fuel industry.
A barrel of crude topped $130 last week and now sells for less than $100. Gas prices follow oil quickly on the way up, slowly on the way down.
Those bipartisan calls from Congress follow the president’s ban on Russian oil and other energy imports.
The people and equipment they need are already hard at work.
The government says it is mulling the possibility of lifting the fracking suspension to ease the energy crisis caused by the invasion of Ukraine.