Category: petroleum
-
Some Opposition Expected to Trump’s Commitment to Prioritizing Fossil Fuels
The US will shift focus from the Biden administration’s energy transition to President-elect Trump’s goal of ensuring the country’s energy dominance.Gerasimov174/Getty Images/iStockphoto Soon the new Trump administration’s “drill, drill, drill” focus and a platform aimed at cutting “costly and burdensome regulations” will run head-on into President Biden’s efforts to push fossil fuels into the backseat…
-
Here are Donald Trump’s key administration picks so far
President-elect Donald Trump is filling key posts in his second administration, and it’s shaping up much differently than his first. He’s prioritizing loyalists for top jobs. Trump was bruised and hampered by internal squabbles during his initial term in office. Now he appears focused on remaking the federal government in his own image. Some of his choices…
-
The Houthis are what happens when the int’l community appeases – analysis
Houthi rebels escalate maritime threats, reportedly sending direct warnings to shipping companies and potentially extorting transit fees up to $180M monthly. By SETH J. FRANTZMAN NOVEMBER 18, 2024 19:21 Updated: NOVEMBER 18, 2024 19:31 Newly recruited Houthi soldiers march during the funeral of Houthi fighters killed during recent fighting against government forces, in Sanaa, Yemen,…
-
Why countries struggle to eliminate fossil fuel subsidies | Explained
Fossil fuels are the leading driver of climate change, yet they are still heavily subsidised by governments around the world. Although many countries have explicitly promised to reduce fossil fuel subsidies to combat climate change, this has proven difficult to accomplish. As a result, fossil fuels remain relatively inexpensive, and their use and greenhouse gas…
-
Will Trump Awaken the Geopolitical Premium?
mark reinstein/Shutterstock For more than a year, oil markets have given the cold shoulder to geopolitical risk. Despite the outbreak of a regional war in the Middle East, the world’s most important oil and gas exporting region, Brent crude prices at $74 per barrel are lower than they were before the conflict started. President-elect Donald…
-
Explainer: A trillion dollar question – fossil fuel subsidies
Item 1 of 2 An employee holds a diesel fuel pump nozzle at a petrol station of Neftmagistral company in Moscow, Russia, September 8, 2023. REUTERS/Maxim Shemetov/File Photo [1/2]An employee holds a diesel fuel pump nozzle at a petrol station of Neftmagistral company in Moscow, Russia, September 8, 2023. REUTERS/Maxim Shemetov/File Photo Purchase Licensing Rights,…
-
Donald Trump Cabinet: From vaccine sceptic Robert F. Kennedy Jr to Elon Musk
After being elected as the 47th President of the United States Donald Trump is filling key posts in his second administration, putting an emphasis so far on aides and allies who were his strongest backers during the 2024 campaign President-elect Mr. Trump has turned to a head-spinning mix of candidates, many of whom are his personal…
-
Rubio as Trump’s Secretary of State Could Signal Stricter Oil Sanctions on Iran, Venezuela
11/14/2024 (Reuters) — President-elect Donald Trump’s pick of U.S. Senator Marco Rubio for secretary of state could signal stricter enforcement of oil sanctions on Iran and Venezuela, but concerns about retaliation by China could temper any efforts, analysts said on Wednesday. Rubio, a longtime member of the Senate Foreign Relations Committee, has long pushed for…
-
IEA Says Global Oil Market Faces a Million-Barrel Glut Next Year
by Bloomberg | Grant Smith, Alex Longley | Thursday, November 14, 2024 | 3:00 PM EST Global oil markets face a surplus of more than 1 million barrels a day next year as Chinese demand continues to falter, cushioning prices against turmoil in the Middle East and beyond, the International Energy Agency said. Oil consumption in…
-
EIA: India leads global oil consumption growth in 2024, 2025
India has emerged as the top contributor to expected global oil consumption growth, accounting for 25% of the increase for 2024 and 2025, according to the US Energy Information Agency (EIA)’s latest Short-Term Energy Outlook (STEO). EIA expects global liquid fuel consumption to rise by 1.0 million b/d in 2024 and 1.2 million b/d in…