The effort could hurt Russia but could also help drive up already high oil prices, hurting the global economy and enriching energy companies.
Author: CLIFFORD KRAUSS
Europe’s Quest to Replace Russian Gas Faces Plenty of Hurdles
Climate concerns, investor reticence and political disputes complicate a shift to supplies from the United States, North Africa and the Mediterranean.
Europe and the U.S. Make Ambitious Plans to Reduce Reliance on Russian Gas
President Biden said the United States would send more natural gas to Europe, though he did not specify how given that the U.S. is already near its export capacity.
Iraqi Minister Says High Oil Prices Could Speed the Shift to E.V.s
Whatever the short-term benefits for producers, the market upheaval could accelerate the transition away from oil, he says.
As Western Oil Giants Cut Production, State-Owned Companies Step Up
In the Middle East, Africa and Latin America, government-owned energy companies are increasing oil and natural gas production as U.S. and European companies pare supply because of climate concerns.
Why $4-a-Gallon Gas May Be Coming Your Way This Summer
The oil industry, known for boom-bust cycles, is resisting the temptation to pump more oil — for now.
Exxon Mobil’s Chief Says It Is ‘Supportive’ of Zero-Emission Goals
Darren Woods, in an interview before an annual presentation to investors, also suggested there was common ground with Biden administration policies.
Suriname Could Be Latest Big Oil Find as Industry Cuts Costs
The small South American country has become a hot prospect for oil companies looking to produce fossil fuels while spending less.
‘Is Exxon a Survivor?’ The Oil Giant Is at a Crossroads.
Exxon Mobil is struggling to find its footing as demand for oil and gas falls and world leaders and businesses pledge to fight climate change.
Oil Industry Expresses Concern, Not Alarm, About Biden Comments
After the candidate called for a “transition” away from oil and gas, executives said the country would need fossil fuels for decades to come.