The United States is producing more oil now than any nation in the world has ever produced. In 2008, the U.S. produced only 5 million barrels of oil a day. Last year, the country produced 13 million barrels daily.
The United States’ record-breaking production is often used to knock back the argument President Joe Biden’s energy policy aims to minimize domestic fuel fuel production – to cut carbon emission and make way for more renewable energy.
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On Sunday, with no official statement from either side, Saudi Arabia apparently allowed a deal with the U.S. to expire that could have dire financial ramifications.
The Kingdom reportedly did not renew its 50-year petro-dollar agreement with the United States when it expired on June 9, meaning Saudi Arabia can now sell its oil in other currencies, including the Chinese renminbi (RMB), Euros, Yen, and Yuan, instead of exclusively in U.S. dollars. According to reports, the use of digital currencies like Bitcoin is also being considered.
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On this 22nd anniversary of 9/11, U.S. Senator Ron Johnson (R-WI) is demanding the Department of Justice and the Federal Bureau of Investigation turn over the complete, unredacted records of Saudi Arabia\’s role in the deadliest terrorist attack on U.S. soil.
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Last week, gas prices reached an 8-month high in the U.S. at $3.714 per gallon, following a high volume of production cuts from OPEC. That number has since increased, which an analyst pinned directly on the ongoing heat wave taking place throughout the country.
On Monday, gas averaged $3.757 per gallon, up more than 16 cents from a week ago, according to AAA. Patrick De Haan, the lead petroleum analyst at the fuel savings site GasBuddy, explained how the heat wave contributed to this uptick.
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With only days left until the midterm elections, the advertising blitz from the political spin doctors has reached a fever pitch and the sound bites we’re hearing aren’t very sound, especially the ones from the White House on the economy. But heated rhetoric is hardly a replacement for facts and figures so, to borrow a phrase from the show Dragnet, let’s discuss “just the facts, ma’am.”
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Saudi Arabia’s foreign ministry issued a rare statement Wednesday confirming that the Biden administration pressured OPEC+ to delay oil production cuts until November.
The OPEC+ oil cartel, which includes Russia, slashed production by two million barrels per day (bpd) on Oct. 5 prompting the White House to threaten consequences for Saudi Arabia due to the ensuing jump in gas prices. The Saudi Foreign ministry responded on Oct. 12 with a lengthy defense of the decision, resisting pressure amid discussions with the U.S. to delay a decision until November, when it might be too late for the price hike to affect midterm election prospects, according to The Associated Press.
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The Biden administration plans to shutter its predecessor’s investigations into undisclosed foreign funding of U.S. colleges and universities, the subject of years of warnings from elected officials, law enforcement and academic freedom groups, according to higher education lobbyists.
The commitment was recorded in an August letter from a higher ed lobbyist recapping a June 23 virtual briefing by top Department of Education officials for the American Council on Education (ACE) and other university groups, including the Council on Governmental Relations (COGR), which includes medical centers and independent research institutes.
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President Joe Biden’s attempts to reduce the cause of high gas prices to the war in Ukraine initially, and corporate greed more recently, are disingenuous.
On day one this president clearly stated his opposition to oil and gas production and development. The president’s words and even more so his actions, have serious impacts on the costs of commodities, including oil.
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The Organization of the Petroleum Exporting Countries (OPEC) and its partners agreed to boost oil production on Thursday, backing a plan released earlier this month, ahead of President Joe Biden’s visit to Saudi Arabia in mid-July.
In their fifth meeting since the beginning of the war in Ukraine, which sent oil prices skyrocketing to above $100 a barrel for the first time in eight years, OPEC and a group of Russian-led non-OPEC members agreed to raise their collective production by 648,000 barrels a day.
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Israel is in consultations with Middle Eastern countries to install Israeli-made defense systems on their territory, Breaking Defense reported Wednesday.
Several countries, including Saudi Arabia and the United Arab Emirates, have reportedly negotiated with Israel to obtain a network of sensors that will combat the potential missile threat from Iran, according to Breaking Defense. A shared communications network would theoretically allow participating states to alert others when incoming missiles trigger the sensors, Breaking Defense reported, citing Israeli officials.
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U.K. Prime Minister Boris Johnson traveled to the Middle East to discuss increased oil production with leaders after they reportedly snubbed President Joe Biden’s requests.
Johnson met with United Arab Emirates Crown Prince Mohammed bin Zayed al Nayhan on Wednesday and is traveling to Saudi Arabia to meet with Crown Prince Mohammed bin Salman later in the day, according to The Wall Street Journal. Johnson is reportedly set to deliver a message on behalf of the West, urging the two oil-rich nations to boost production.
“The Prime Minister set out his deep concerns about the chaos unleashed by Russia’s unprovoked invasion of Ukraine, and stressed the importance of working together to improve stability in the global energy market,” the British government said in a readout of Johnson’s meeting with the UAE leader earlier Wednesday.
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When the Biden administration appeals to Iran, Venezuela, and Saudi Arabia for oil but rejects American and Canadian oil and gas production, there is something profoundly wrong.
Why does Joe Biden think dictators are better than Americans? Why send money to Iran instead of Oklahoma – or to Venezuela instead of Texas? If he wants to send money outside the United States, why not send money to Canada rather than Saudi Arabia?
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The governments of both Saudi Arabia and the United Arab Emirates (UAE) allegedly refused to answer phone calls from Joe Biden when he attempted to start up negotiations on the purchase of oil from the two energy-rich nations.
According to the New York Post, an anonymous Biden Administration official said that Biden’s attempts to reach Saudi Arabia’s Crown Prince Mohammed bin Salman and the UAE’s Sheikh Mohammed bin Zayed al Nahyan were deliberately ignored by both leaders.
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Newly declassified documents from the FBI give a sense of the depth of the bureau’s investigation into potential ties of the Saudi government to the 9/11 terror attacks.
According to The Hill, the FBI investigated how much support Saudi officials — including one at their embassy in Washington — may have given to three Saudis involved in the attacks, including “procuring living quarters and assistance with assimilating in the country.”
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A Saudi activist is suing Twitter for allegedly hiring two Saudi spies who, the activist claims, used their positions within the social media company to steal his personal information.
The complaint, filed by activist Ali Al-Ahmed on Wednesday a California federal court, alleges that two Saudi citizens and former Twitter employees, Ahmad Abouammo and Ali Hamad A Alzabarah, used their jobs to access Al-Ahmed’s email addresses, contacts, phone numbers, birth dates, and IP addresses between 2013 and 2015. The two men then sold this information to the Saudi government, the complaint alleged.
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An explosion at a Saudi cemetery where American and European officials were commemorating the end of World War I wounded three people Wednesday, according to official statements.
The attack in the city of Jiddah follows on the heels of a stabbing last month that lightly wounded a guard at the French Consulate in the same city. It’s not clear what motivated the stabbing or Wednesday’s blast, but France has been the target of three attacks in recent weeks that authorities have attributed to Muslim extremists.
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The Saudi national who shot three Americans at a military base in Pensacola, Fl., in December had been in contact with Al Qaeda before the attack, according to law enforcement officials.
Cell phone evidence links Second Lt. Mohammed Saeed Alshamrani, a Saudi Air Force cadet who trained at the Naval Air Station Pensacola alongside American military officials, to the terrorist organization, according to government officials who spoke with the New York Times. The FBI discovered cell phone communication between Alshamrani and an Al Qaeda operative from before the December 2019 shooting spree.
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President Donald Trump vetoed a bipartisan congressional resolution Wednesday that would have curbed his ability to direct military action against Iran.
“This was a very insulting resolution, introduced by Democrats as part of a strategy to win an election on November 3 by dividing the Republican Party,” Trump said Wednesday as he signed the veto. “The few Republicans who voted for it played right into their hands. Congress should not have passed this resolution.”
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Gas prices are falling all over the country as oil prices tumble, yet prices are still relatively high in California, where environmental polices are restricting how oil refineries can produce gasoline.
The price of a gallon of gas has plummeted in Ohio to around $1 in part because Americans are self-isolating to avoid spreading the novel coronavirus. The average price dropped 35.1 cents over the past month, according to data from the AAA and Oil Price Information Service.
A BP station in Kentucky, for instance, posted a price below $1 a gallon, The Washington Post reported Thursday. Four other stations in Oklahoma City followed suit, along with another in Paris, Tennessee. The national average for gas on Thursday was $2.03, down from $2.41 at the beginning of March.
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For the past 18 consecutive months, the U.S. has led the world’s crude oil production. It surpassed Russia and Saudi Arabia in June and August of 2018. One year later, the U.S. surpassed its own production record by 14.6 percent.
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WASHINGTON – The U.S. is sending additional military forces and air defense equipment to Saudi Arabia and the United Arab Emirates, the Pentagon said Friday night.
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In the flash of an eye, the world’s oil supply was reduced by 5 percent after the Sept. 14 attacks on Saudi Arabian oil facilities including the Abqaiq oil processing facility, which sent oil prices soaring in trading on Sept. 16 and then a subsequent pullback today upon Saudi announcements that production will be restored within weeks.
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by Luke Rosiak The Department of Education is going after U.S universities over supposed ties to foreign governments, after some allegedly took huge quantities of foreign cash and hid it from regulators. At the top of the list are Georgetown University and Texas A&M, which have taken hundreds of…
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by Michael Bastasch U.S. crude oil imports from the Saudi Arabian-led OPEC fell to a 30-year low, according to the latest federal figures. OPEC imports fell to 1.5 million barrels per day in March, which is the lowest level since March 1986, the U.S. Energy Information Administration reported Thursday.…
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by Michael Bastasch Environmentalists are optimistic Democratic California Gov. Gavin Newsom will further restrict, or even end, oil and gas drilling, despite his state’s increasing reliance on oil shipped from abroad. So-called “keep it in the ground” activists want to see Newsom ban new oil and gas leases, but…
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Reuters Oil producer group OPEC on Monday scrapped its planned meeting in April and will decide instead whether to extend output cuts in June, once the market has assessed the impact of U.S. sanctions on Iran and the crisis in Venezuela. A ministerial panel of OPEC and its allies…
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by Peter Hasson Breakfast chain IHOP cited its company “values” to justify boycotting Fox News host Tucker Carlson’s show, even as the company profits from its businesses in Saudi Arabia, a notorious violator of human rights. Saudi Arabia’s repeated human rights violations include “unlawful killings,” “official gender discrimination against…
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by Luke Rosiak The nation of Qatar, a Sharia-law monarchy that has been accused of trying to influence other countries’ governments, gave $1 billion to elite American universities since 2011, according to Department of Education data. Some universities have refused to discuss where strings are attached to that money.…
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by Joseph Duggan Jamal Khashoggi was a thoroughly charming and charismatic person. In March 2012, I took the last available seat at a luncheon table at the 20th Public Relations World Congress in Dubai. By sheer accident I found myself sitting next to Khashoggi and conversing with him for…
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U.S. Treasury Secretary Steve Mnuchin has pulled out of an investment conference next week in Saudi Arabia, as Riyadh continues to face questions about its involvement in the disappearance and alleged killing of a U.S.-based Saudi journalist in Turkey. Mnuchin made the announcement Thursday on Twitter, following numerous Western corporate…
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