Biden Administration Cancels Oil Drilling Sales in Alaska and Gulf of Mexico Republicans link the move to rising gas prices while the administration said it was a result of conflicting legal opinions and a lack of interest among bidders.
U.S. gasoline prices hit a high, but the oil market may signal relief. The average gallon of regular fuel reached $4.37. But West Texas crude fell below $100, a decline of roughly 10 percent since the weekend.
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 Is About to Ban Russian Oil: What Happens Next? Policymakers want to stop financial support to a war machine. Replacing that energy supply is going to be difficult and expensive for consumers.
High Electric Bills Get Ready for Another Energy Price Spike: High Electric Bills Rates have jumped because of a surge in natural gas prices and could keep rising rapidly for years as utilities invest in electric grids.