This post was originally published on this siteLONDON, Oct 29 (Reuters) – The White House has consistently argued the global economy will grow its way out of current supply chain bottlenecks, with strong demand encouraging investment in new capacity, bringing price rises gradually under control. In this view, demand will eventually create its own supply, […]

This post was originally published on this siteSmoke rises from oil refinery stacks at Philadelphia Energy Solutions plant in Philadelphia, Pennsylvania, U.S., August 21, 2019. REUTERS/Mark Makela LONDON, Oct 31 (Reuters) – The United Nations and the European Union launched a global watchdog on Sunday to monitor governments’ pledged reductions of greenhouse gas methane that

This post was originally published on this siteU.S President Joe Biden speaks during a press conference in the G20 leaders’ summit in Rome, Italy October 31, 2021. REUTERS/Kevin Lamarque ROME, Oct 31 (Reuters) – U.S. President Joe Biden said on Sunday it was “not inconsistent” for him to push energy-producing nations to increase output of

This post was originally published on this siteOct 29 (Reuters) – U.S. energy firms added oil and natural gas rigs for a 15th month in row in October as oil prices soared to fresh seven-year highs, prompting some drillers to return to the wellpad. For the week, the oil and gas rig count, an early

This post was originally published on this siteU.S. President Joe Biden attends a family photo session during the G20 summit at the La Nuvola in Rome, Italy October 30, 2021. Erin Schaff/Pool via REUTERS WASHINGTON, Oct 30 (Reuters) – U.S. President Joe Biden met with German Chancellor Angela Merkel and discussed efforts to keep Russia

This post was originally published on this siteOct 29, 2021 (Bloomberg) For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ cartel, warned that $100 a barrel was a

This post was originally published on this siteOct 29, 2021 (Bloomberg) Oil and gas companies would be forced to pay for excess methane leaking from wells, storage sites and pipelines under a draft of President Joe Biden’s climate-and-social-spending plan. Under the measure released Thursday, fees of as much as $1,500 per ton would be imposed on

This post was originally published on this siteWASHINGTON, Oct 29 (Reuters) – The U.S. Supreme Court on Friday agreed to hear a bid by states, including coal producer West Virginia, and industry groups to limit federal power to regulate carbon emissions from power plants under a landmark environmental law. The court’s decision to take up

This post was originally published on this siteLONDON, Oct 29 (Reuters) – Leaders of Europe’s biggest oil and gas companies said political leaders attending U.N. climate talks that start this week must make carbon markets more effective and that only governments can effectively curb fossil fuel demand. Oil majors will be among the big companies

This post was originally published on this siteHOUSTON, Oct 29 (Reuters) – Exxon Mobil Corp. and Chevron Corp. on Friday disclosed plans to expand drilling in the top U.S. shale basin after posting their biggest quarterly profits in years. Latecomers to the west Texas shale fields, both last year slashed shale production and cut drilling