Ghana plans to buy oil with gold instead of U.S. dollars
Ghana's government is working on a new policy to buy oil products...
Ghana's government is working on a new policy to buy oil products with gold rather than U.S. dollar reserves, Vice-President Mahamudu Bawumia said on Thursday.
The move is meant to tackle dwindling foreign currency reserves coupled with the demand for dollars by oil importers, which is weakening the local cedi and increasing living costs.
The proposed policy is uncommon. While countries sometimes trade oil for other goods or commodities, such deals typically involve an oil-producing nation receiving non-oil goods rather than the opposite
EQT, Shell Leaders Warn of Urgently Needed Permit Reform
This year, the idealistic goals of the energy transition squared off with the brute-force reality of...
This year, the idealistic goals of the energy transition squared off with the brute-force reality of geopolitics. And as author Robert A. Heinlein might have put it, 'reality is a harsh mistress'.
Whether the Russian-Ukraine war hastens the energy transition or prompts a shift toward energy security, the clear winner of the 2022 global energy crisis has been coal.
At a November energy conference hosted by the Federal Reserve Banks of Dallas and Kansas City, Toby Rice, president and CEO of EQT Corp., said that in the past 12 months, the use of foreign coal has skyrocketed and “wiped out 15 years of solar and wind investments here in the United States.”
Federal law enforcement arrested and charged two Russian individuals with criminal copyright infringement...
Federal law enforcement arrested and charged two Russian individuals with criminal copyright infringement over their alleged involvement with the pirated ebook Z-Library. Z-Library, which has been around since 2009, billed itself as the “world’s largest ebook library” before the US government shut down the site earlier this month.
Benchmark U.S. crude oilfor January delivery rose $3.01 to $77.94 a barrel Wednesday. Brent crude for January delivery fell $2.95 to $85.41 a barrel.
Wholesale gasolinefor December delivery fell 7 cents to $2.47 a gallon. December heating oilfell 11 cents to $3.36 a gallon. December natural gas rose 53 cents to $7.31 per 1,000 cubic feet.
US Crude Oil Inventories Down, SPR Still at Historic Lows, But Other Petroleum Inventories Up: EIA
The Nov. 23 weekly report from the Energy...
The Nov. 23 weekly report from the Energy Information Administration (EIA) shows that commercial crude oil inventories in the United States fell by 3.7 million barrels–yet inventories of motor gasoline, distillate fuel, and other petroleum products increased, for an overall rise of 3.3 million in total commercial petroleum inventories.
The EIA’s latest numbers covered the week ending Nov. 18. Notably, the EIA’s commercial crude oil data did not include the latest releases from the Strategic Petroleum Reserve (SPR).
The EIA’s latest report shows that commercial distillate fuel oil stocks have increased. Those inventories include diesel fuels, which are still in short supply nationally and globally as winter looms.
