A barrel of oil now sells for less than most companies’ break-even point.

BP didn’t share many details, but the company has been losing money on renewables and will likely be doubling down on oil and gas.

Thanks to abundant supply and fairly flat demand, oil prices are forecast to fall — unless tariffs and geopolitics get in the way.

These regulations have changed a lot since the 1970s. Each president has tinkered with them.

The U.S. Energy Information Administration reports that pump prices on average were 21 cents lower per gallon in 2024 than they were in 2023.

And why it might not have a big impact on U.S. offshore drilling anyway.

The biofuel made of vegetable oil and animal fat is primarily used on the West Coast. But it’s more expensive to produce than regular diesel.

Many stations saw a run on their supplies before Hurricane Milton, and delivery infrastructure was shut down after the storm.

Once a leading source of oil, California produced fewer barrels of oil in June than in any month since the federal government began counting in 1981.

The U.S. has a lot of gas stored up this year, and prices are accordingly low.