Free Republic

The USA has called for Ukraine not to attack Russian refineries despite Russia's widespread offensive against several energy facilities in Ukraine. The Department of Defense has warned that such an attack could bring another spike in fuel prices worldwide. Michaelo Podoliak, advisor to Ukrainian president Volodymyr Zelenskyy, claimed that such facilities were legitimate military targets. In a recent interview, he also claimed that such an attack was not only legitimate but desirable on a worldwide level in order to weaken Russia's hold on the energy lobby. “Ukraine must destroy Russia's refineries. They have no impact on worldwide pricing, and are...

In March, Energy Secretary Jennifer Granholm had stated that the SPR would be refilled by the end of 2024. The Biden administration is reportedly putting a hold on plans to replenish the nation’s energy stockpiles, citing cost. The Energy Department announced it would not be purchasing 3 million barrels of oil as part of an effort to refill the Strategic Petroleum Reserve, according to Bloomberg, saying it is “keeping the taxpayer’s interest at the forefront.” The administration’s target for the buys is $79 a barrel, but its purchase of 2.8 million barrels last month averaged approximately $81 per barrel. Oil...

What is it about fossil fuels [PETROLEUM products] and the people who produce them that brings forth such uncontrolled hatred, anger, and vengefulness in a very large segment of the population? I’ve been trying to figure out the answer to that question for many years, but I’m no closer today than when I started. I look at the use of fossil fuels in the world, and somehow I see enormous benefits to mankind — reliable electricity, transportation of people locally and at long distances, and of freight to enable worldwide trade, comfortable heating and cooling of homes, refrigeration to preserve...

U.S. oil production reached a record 13.2 million barrels per day, significantly increasing exports, especially to Europe and Asia. End-of-year tax considerations are prompting traders to export more oil to reduce taxable inventory, with exports expected to average 5 million barrels per day. The integration of WTI Midland in the Brent basket and the European embargo on Russian oil have contributed to the growing popularity of U.S. crude in global markets.

SAN RAMON, Calif. & NEW YORK, October 23, 2023 — Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The total enterprise value, including debt, of the transaction is $60 billion.

Prices at the pump remain on track to keep falling in the United States despite the Israel-Hamas war, according to energy industry analysts. After Hamas’ surprise attack over the weekend, global crude oil jumped to more than $87 a barrel by Monday, from below $83 late last week — roughly a 5% increase. Prices have since retreated, clocking in at $83.62 Wednesday morning. But Israel and its immediate neighbors aren’t major energy producers, so as long as the conflict doesn’t expand geographically, seasonal trends should continue much as they have for the last few weeks, said Tom Kloza, global head...

West Texas Intermediary (WTI) Crude Oil price is jumping over 4% to its highest level in three days, briefly recapturing the $85 mark in the Asian session on Monday. The extended rebound in Oil price comes on the heels of the escalating Middle East conflict between Hamas and Israel and concerns over its potential impact on global oil supplies.

This video highlights how Europe is kicking its addiction to Russian natural gas and oil. 9 seconds into the vid notice the sign behind Vladolf Putler at his pep rally kicking off the invasion of Ukraine. Explains the "Z" on his tanks as the huge sign behind "The Boss" says "Za (toward) a greater Russia, a world without Naziism (horse laugh appropriate) and peace ('mir' in Russian can mean peace, village, or world -- or to a megalomaniac all three?) https://www.youtube.com/watch?v=k8WjXBBdh04

During an interview in 1994, L. Fletcher Prouty spoke about what petroleum is. It isn’t what we think it is. It isn’t a fossil fuel. And it is the second most prevalent liquid on Earth, he said. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ L. Fletcher Prouty was Chief of Special Operations for the Joint Chiefs of Staff under US President John F. Kennedy. A former colonel in the United States Air Force, he retired from military service to become a bank executive and subsequently became a critic of US foreign policy, particularly the covert activities of the CIA about which he had considerable inside knowledge....

I was thinking of Presidentish Joe Biden on Sunday when I was filling my Jeep’s smallish 15-gallon gas tank to the tune of $50 when it still had a couple of gallons left. Remember (because maybe he doesn’t) when Biden was emptying our Strategic Petroleum Reserve to force down gas prices in time for the midterms , promising to fill ‘er back up once prices dropped low enough? Yeah, about that. The SPR is probably never going to be refilled, according to one expert, and maybe not even for the reason that first popped into your mind. Let me set...

The U.S. Administration could begin crude oil repurchases to fill the Strategic Petroleum Reserve as early as in June, after a Congressionally-mandated sale from the SPR is completed next month, U.S. Secretary of Energy Jennifer Granholm said on Thursday. “That congressionally mandated sale of 26 million barrels will be completed by June, and it's at that point where we will flip the switch and then seek to purchase,” Granholm said during a hearing in the U.S. House of Representatives. In October of last year, the administration announced that it would repurchase crude oil for the reserve when prices were at...

New York City, to the extent it can, is not only banning normal, efficient, affordable natural gas-powered appliances (furnaces, dryers, water heaters, ovens and ranges) from new construction in the city, they are now attempting to require existing buildings to junk the perfectly good appliances they already have, too and replace them with electric-powered versions. The state of California, to the extent it can, is not only banning some normal, functional, safe, efficient diesel-powered trucks from the congested seaports that need every truck they can get – they are even trying to find a way to ban strong diesel locomotives...

... Here’s the article by Scottie Barnes from our premium news partners at The Epoch Times. The focus of the article is on the energy crisis which goes hand-in-hand with the food crisis. But pay special attention to what Democrats are trying to do to farmers and ranchers in our nation. This is The Great Reset unfolding before our eyes.Critics Blast Oregon’s Efforts to Phase Out Petroleum Diesel and Restrict FarmingA series of climate bills now before the Oregon legislature could devastate rural communities and further fuel inflation, according to detractors.The bills would phase out petroleum-based diesel fuel, levy sweeping...

The discovery and exploitation of crude oil have literally transformed the world beyond all recognition.This was such a great discovery, that our modern world is literally fuelled by it.If the crude oil supply was to suddenly dry up, could we survive?Crude oil is one of the most important resources we have ever discovered. Oil and the many products made from it have literally and figuratively transformed the world beyond all recognition. However, as we are constantly reminded, crude oil is not in infinite supply. After all, it took millions of years to "brew". RelatedWhat Would Happen If the World Ran...

Social Cost of Carbon estimate jumps from $51 to $190 per metric ton, creating future impact for Americans' wallets and a new headache for the oil and gas industries. With the price of everything from gasoline to food soaring in America, nobody is surprised by inflated price tags these days. But even by Washington standards, an action taken earlier this month by the Environmental Protection Agency is creating sticker shock: a nearly fourfold increase in the government calculation of damages from carbon emissions. The so-called Social Cost of Carbon was first set in 2009 under then-President Barack Obama. Under Democrats...

Distillate levels in the United States have plummeted to the lowest levels since 2008.. Low distillate inventories have sent diesel prices soaring. ... The primary distillates are diesel, jet fuel ,and heating oil). However, in 2008 distillate levels were low coming out of spring. Currently, they are low going into fall. That’s far worse than the situation in 2008. Distillate demand generally spikes in spring — when farmers are planting crops — and in fall, when they are harvesting those crops and people start buying fuel oil for winter. Thus, a low distillate inventory in late April 2008 isn’t quite...

The US was an energy exporter before Biden was inaugurated as president. It isn't anymore. Biden's energy advisor Amos Hochstein says this is a good thing. "When energy was plentiful under the Trump Administration it undermined the incentive for Americans to switch to green alternatives," Hochstein said. "The steps that President Biden has taken to reduce the availability gasoline, diesel, and natural gas have led to sharp increases in the prices of these non-renewable sources of energy. So, not only is it harder to get these fuels, it is also more costly. While this may be painful for consumers in...

Biden’s botched withdrawal from Afghanistan may have tanked his approval ratings, but record inflation and soaring gas prices kept them underwater. As fuel prices reached historic highs, Biden stubbornly refused to do anything that would increase domestic supply, opting instead to buy fuel from overseas before eventually raiding the Strategic Petroleum Reserve. It was a foolish thing to do, and while gas prices have gone down, the impact of raiding the reserves is debatable. But one thing is for sure: Biden depleted the reserves, which are now at a 37-year low, to boost his poll numbers. Now that Hurricane Ian...

Biden’s administration is getting more and more desperate as the Midterms loom as the pace at which they are draining the nation’s so-called ‘strategic’ reserve of crude oil just went to ’11’. Last week saw almost 8.54 million barrels withdrawn from the SPR – the biggest weekly drain in history. ... This unprecedented collapse of the Strategic Petroleum Reserve to its lowest since September 1984 has helped lower oil prices (from their record highs)… ... the price of gas at the pump is still up 76% since Biden was . ... But ‘average joe’ doesn’t care about ‘president joe’ actions...

On Thursday’s edition of “CBS Prime Time,” Siva Gunda, a public member of the California Energy Commission said that the state must “double and triple down on building the renewables and clean energy resources” but will need more storage and also needs load reduction programs that will automatically lower air conditioning and stop appliances.