(Investing) – PITTSBURGH – U.S. oil and gas lobbying groups said on Tuesday they were wary of President-elect Donald Trump’s threat of tariffs on Canada and Mexico, saying such policies could affect consumers, industry and security. Trump, who takes office on Jan. 20, vowed to impose a 25% tariff on imports from Canada and Mexico, two of America’s biggest trading partners,
(World Oil) – The American Petroleum Institute (API) has released a new policy roadmap for the incoming Trump administration and next Congress to secure American energy leadership and help reduce inflation. Beginning with an open letter to President-elect Trump, the five-point policy roadmap details concrete steps Washington can take in 2025 and beyond to protect consumers, bolster geopolitical strength, leverage
(Investing) – Oil prices slipped on Wednesday, trading near their lowest in two weeks, a day after OPEC lowered global oil demand growth forecasts for 2024 and 2025 and amid demand concerns in China. OPEC cited weakness in China, India, and other regions for its decision, which marked the producer group’s fourth straight downward revision for 2024. Brent futures were 65 cents,
(Investing) – Oil prices rose more than 1% on Tuesday, reversing some of the previous session’s 6% tumble, as a U.S. plan to buy oil for the Strategic Petroleum Reserve (SPR) provided some support though wider concerns about weaker future demand growth exerted pressure. Brent crude futures climbed 94 cents, or 1.32% to $72.36 a barrel by 1237 GMT, while U.S. West
World Oil (WO) – The American Petroleum Institute is raising concerns over the recent decision by the U.S. District Court for the District of Maryland to vacate the National Marine Fisheries Services’ (NMFS) Biological Opinion in the Gulf of Mexico. In a letter from President and CEO Mike Sommers to Secretary of Commerce Gina Raimondo, Sommers highlighted how the lack
World Oil (WO) – The American Petroleum Institute (API) filed a lawsuit in the D.C. Circuit Court of Appeals challenging the U.S. Environmental Protection Agency’s (EPA) heavy-duty (HD) vehicle emissions standards for model years (MY) 2027-2032. “Today, we are standing up for consumers who rely on trucks to deliver the goods they use every single day,” said API Senior Vice
CNBC Oil prices fell on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later in the day. Brent crude futures for May were down $1.20 or 1.4% at $86.18 a barrel by 1425 GMT. U.S. West Texas Intermediate futures for April delivery , which expire on Wednesday’s
World Oil (WO) – The American Petroleum Institute (API) released a new national poll conducted by Ipsos demonstrating widespread concern over Washington’s approach on energy policy. Two out of three American voters say the country is on the wrong track on energy policy, and following the administration’s recent pause on LNG export permits, the poll found nine in 10 Americans
World Oil (Bloomberg) – Top oil industry lobbying groups set the stage for a potential lawsuit challenging the Biden administration’s pause in approving new liquefied natural gas (LNG) exports. In a petition filed Monday with the Energy Department, the American Petroleum Institute (API) and six other groups say the indefinite delay runs afoul of a legal mandate for the agency
World Oil (WO) — The American Petroleum Institute (API) issued a statement from President and CEO Mike Sommers in response to reports that the Biden administration is considering changing the implementation timeline for its proposed tailpipe emissions standards: “Reports that the EPA is moving forward with a de facto ban on new gasoline-powered cars shows the Biden administration is significantly
World Oil (WO) – The American Petroleum Institute (API) released a statement from President and CEO Mike Sommers on new reports that the Biden administration is moving forward with plans to disrupt the development of U.S. LNG terminals. “This would be a win for Russia and a loss for American allies, U.S. jobs and global climate progress. There is no
World Oil The American Petroleum Institute (API) has called on the Biden administration to recognize the important role that Alaska plays in U.S. energy security and support the continued development of energy resources in the National Petroleum Reserve (NPR-A). In comments submitted to the Department of the Interior’s Bureau of Land Management (BLM), API expressed concern over proposed regulatory changes that
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