From Twitter: Oil resumed its decline after Iran carried out a missile strike in Iraq
Oil resumed its decline after Iran carried...
Oil resumed its decline after Iran carried out a missile strike in Iraq, while Russia’s bombardment of Ukraine prompted more calls to sideline the OPEC+ producer https://t.co/9QBEk0Bjaq
The Russian strikes could impede what has been a vital lifeline for Ukraine and bring the war perilously close to the country’s border with Poland. U.S. national security adviser Jake Sullivan warned of a full-fledged NATO response if a Russian strike were to hit member-state Poland, even in the event of an accidental or unintentional strike by Russia. ~WSJ
Soaring gas prices prompt electric vehicle conspiracy theories
(AP) — Some social media users suggest that soaring fuel prices in the U.S. aren’t the result of Russia’s...
(AP) — Some social media users suggest that soaring fuel prices in the U.S. aren’t the result of Russia’s invasion of Ukraine, increased consumption or supply chain issues as daily life resumes after two years of stagnation brought on by the coronavirus pandemic.
Instead, the flurry of Facebook and Twitter posts offer, without evidence, that a nefarious scheme is underway: President Joe Biden’s administration is intentionally driving up the price of gas to get more American drivers behind the wheel of an electric car.
“$6.00 a gallon gas is how you get people to buy electric cars,” claims one popular meme, shared thousands of times across Facebook and Instagram since Tuesday.
Kansas oil companies scramble to increase production, but 'there is no spigot'
With the ban on Russian oil imports, domestic crude is now selling for about $110 a barrel. That, of...
With the ban on Russian oil imports, domestic crude is now selling for about $110 a barrel. That, of course, isn’t good for consumers, who’ve seen gasoline prices break records.
Mickey Thompson, past president of the Oklahoma Independent Petroleum Association said, “There is no spigot.” “Wells capable of producing crude oil and natural gas in this country are producing at close to maximum capacity.”
But oil companies, especially smaller ones, are having a tough time expanding production.
“They’re having trouble getting pipe. They’re having trouble with transportation. They’re having trouble finding crews,” said Dan Naatz, executive vice president of the Independent Petroleum Association of America.
ExxonMobil is reportedly studying a sale of its Bakken Shale assets...
ExxonMobil is reportedly studying a sale of its Bakken Shale assets in North Dakota, which could fetch roughly $5 billion, after drawing interest from potential buyers. Meanwhile, oil price volatility and widening valuation gaps have reportedly prompted some oil and natural gas companies to back away from plans to buy or sell properties.
