Tuesday, December 24

Energy Policy, Oil & Gas

Traditional energy such as oil, gas, coal, and natural gas plays a big role in international relations. Organizations such as the OPEC cartel, the International Energy Agency, and the G7 factor in.

Taliban Government Auctions Off Mining Rights
26Jun By Patti MohrNo Comments
Diplomacy, Energy Policy, Oil & Gas, Types of News: Brief

Taliban Government Auctions Off Mining Rights

June 26, 2024—Nearly three years into reclaiming its rule over Afghanistan, the Taliban government is raising revenue auctioning mining rights to gems and critical minerals to the highest bidders. The Islamic Taliban government has struggled economically and diplomatically since it took control of the country in August 2021. But since the beginning, its leaders asserted they have their own sources of income. Notably, the land is rich in gold, gemstones, metals, oil and gas, and minerals. Mining Rights As Diplomacy The Financial Times examined 128 contract sites, finding that more than half are developed or expanded. The paper notes that auctioning of mineral and gem rights might help the government form relations with other governments and raise billions of dol...
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Oil Prices Jump As Saudi Arabia And Russia Make Output Deal
19Sep By Patti MohrNo Comments
Energy Policy, Oil & Gas, Geopolitics, Types of News: Brief

Oil Prices Jump As Saudi Arabia And Russia Make Output Deal

Photo by Johannes Havn on Pexels.com The Decision Indirectly Impacts Inflation, Interest Rates, And Russia's Brutal Assault On Ukraine September 19, 2023—As oil prices prop up inflation and the Russian war economy, policy decisions impacting oil are significant. So it matters when two of the world's largest oil-producing countries make a deal to restrict output to push up prices. The two countries are Saudi Arabia and Russia. As oil prices continue to rise so does the scrutiny of Saudi Arabia's decision to side with Russia. The Price of Oil This story starts with a look at the cost. The price of oil rose in August and again in September to $92 a barrel WTI (U.S.) and $95 a barrel Brent (British). On average, oil output from OPEC countries also jumped month-on-month by 6 perc...
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A Week Before The Election, Biden Asks Big Oil To ‘Share The Wealth’
2Nov By Patti MohrNo Comments
Energy Policy, Oil & Gas, Types of News: Brief, United States

A Week Before The Election, Biden Asks Big Oil To ‘Share The Wealth’

November 1, 2022—A week away from the U.S. Midterm elections, inflation is grabbing the attention of voters and politicians alike. As Republicans play up the impact of rising prices and pin the blame on their opponents, Democrats point the finger at companies benefiting from higher prices. It doesn't take long for the focus to fall on energy companies, specifically those earning profit from the high price of oil on global markets. That's precisely the play President Joe Biden pulled from his playbook on Monday. "In a difficult time, Americans across the country have stepped up, and they — to do the right thing. But not everyone has stepped up," Biden said. "The oil industry has not — has not met its commitment to invest in America and support the American people. One by one, major o...
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Turkey And Russia Discuss Energy Deals, Trade in Food
13Oct By Patti MohrNo Comments
Energy Policy, Oil & Gas, Geopolitics, Types of News: Brief

Turkey And Russia Discuss Energy Deals, Trade in Food

October 13, 2022—On the sidelines of a conference in Kazakhstan, Turkish President Tayyip Erdoğan met with Russian President Vladimir Putin. The two leaders discussed trade of Russian grain and fertilizer and plans for Russia to run nuclear plans in Turkey. Energy Deals In addition to the nuclear deals in Turkey, they also discussed transporting Russian gas through Turkey via its ferry system. Putin said Turkey is "the most reliable route to deliver gas to the European Union," according to various news sources that quoted the Kremlin. He added that the hub in Turkey would be a "platform not only for supplies, but also for determining the price." Turkey To Transport Grain And Fertilizer Erdogan said facilitating trade of grain and fertilizer from Russia to other countries is of...
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ESG And GOP Don’t Mix
11Oct By Patti MohrNo Comments
Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Types of News: Brief

ESG And GOP Don’t Mix

State treasurers from GOP-led states say ESG investing harms fossil fuel industries. US Republican Treasurers Withdraw $1 Billion From BlackRock Funds October 11, 2022—State treasurers from Republican-led states of Arkansas, Louisiana, South Carolina, Texas, and Utah aren't buying into BlackRock CEO Larry Fink's idea of the power of capitalism to make the world a better place. In fact, they are pulling their state's funds from BlackRock funds altogether. The state GOP treasurers say they oppose BlackRock's position on prioritizing environmental, social, and governance (ESG) in investment decisions. "Corporate America is now at war with the states that make their living in the fossil fuel business," said John Schroder, Louisiana State Treasurer, during a podcast interview with ...
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Biden Pitches 3-Month Gas Tax Holiday
22Jun By Patti MohrNo Comments
Energy Policy, Oil & Gas, Types of News: Bit

Biden Pitches 3-Month Gas Tax Holiday

June 22, 2022—With the prices at the gas pump adding to inflation and the congressional elections just around the corner, U.S. President Joe Biden is likely feeling the pressure. Today, he announced plans to bring down the price Americans are paying for gasoline by suspending the federal tax on it. The U.S. inflation rate hit 8.6 percent this month, with oil and gas prices leading the climb. Political pressure is mounting for the president to do something. Today, Biden asked Congress to waive the federal gas tax for three months. Consumers pay 18 cents in tax on every gallon. Furthermore, the president called on U.S. states to match that gas-tax holiday with reductions in gas tax of their own. And, finally, Biden asked oil refineries to turn more petroleum into gasoline. "By suspe...
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US, Venezuela Resume Diplomatic Talks
9Mar By Patti MohrNo Comments
Diplomacy, Energy Policy, Oil & Gas, Types of News: Brief

US, Venezuela Resume Diplomatic Talks

U.S Prisoners Held In Venezuela Return Home March 9, 2022--As the United States cuts off imports of oil from Russia, it opens doors for a resumption of trade with other countries under U.S. sanctions. Namely, it opens possibilities for Venezuela and Iran. In the latter case, Iran, negotiations have been ongoing in Vienna for months. Talks Resume In the case of Venezuela, diplomats restarted talks that had stalled. White House Press Secretary Jen Psaki confirmed on Tuesday U.S. envoy had traveled to resume talks on "a range of topics" and those talks are ongoing. Venezuela backed Russia on a recent UN vote, abstaining from a resolution on by the UN Human Rights Council. And Venezuela President Nicolás Maduro stands firm in his commitment to his communist revolution. His Twitt...
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International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports
7Mar By Patti MohrNo Comments
Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Europe, EU, Eurozone, Geopolitics, Globalization, Global Disintegration, Organizations, IMF, WTO, G7, Types of News: Brief

International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports

March 7, 2022--Europe is notoriously dependent on Russian oil and gas. That reliance is making strict penalties on Russia's invasion difficult to carry out. But that trade isn't set in stone. In a new report, the International Energy Agency recommends 10 steps for European leaders who want to break that dependency. Under the IEA plan, Europe would be able to reduce its natural gas imports from Russia from 155 billion cubic meters (bcm) a year to 95 bcm--a savings of one third. These figures assume Europe refills is gas storage facilities in 2022. According the the report, the steps are in line with the European Union's goals for climate action and a European Green Deal. However, the agency also recommends additional steps in light of Russia's aggressive war against Ukraine. 10 Steps ...
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Looking At The Economic Effects Of Russia’s War
7Mar By Patti MohrNo Comments
Energy Policy, Oil & Gas, Global Economics, Types of News: Analysis

Looking At The Economic Effects Of Russia’s War

Energy Price Spikes Lead Economic Impact Of War March 7, 2022—By far, the greatest cost of Russia's war against Ukraine is the humanitarian costs: the lives lost, the forced displacement, and the psychological trauma. As the world faces down Russia's aggression, we also need to recognize and prepare for the economic effects. The battle and emerging breakdown of global trade are also having an economic impact, and it is helpful for individuals to brace themselves for that. "The near-term effects on the U.S. economy of the invasion of Ukraine, the ongoing war, the sanctions, and of events to come, remain highly uncertain," Federal Reserve Chair Jerome Powell said recently. "We will need to be nimble in responding to incoming data and the evolving outlook."-House Financial Service...
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Amid Russian War, IEA Closely Watching Oil & Gas Markets
24Feb By Patti MohrNo Comments
Energy Policy, Oil & Gas, Geopolitics, Types of News: Brief

Amid Russian War, IEA Closely Watching Oil & Gas Markets

Photo: IEA February 24, 2022--As Russia intensified its war against Ukraine and G7 countries accelerated sanctions against Russia, the International Energy Agency announced it is closely monitoring the world's supply of oil and gas. Russia is the world's second-largest oil producer. Only the United States produces more oil at this time. According to the IEA, "Russian oil exports transiting Ukraine via the southern branch of the Druzhba pipeline to supply Hungary, Slovakia and the Czech Republic" are most likely to be impacted by the conflict. "While the specific impact on world oil markets is yet to be determined, IEA Member Countries stand ready to act collectively to ensure that global oil markets are adequately supplied," the agency said on Tuesday. The United States: 12.1 m...
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