Environment

The U.S. needs to boost oil production to replace banned Russian crude instead of possibly looking to Iran or Venezuela, which are also run by dictators, House Minority Leader Kevin McCarthy, R-Calif., told CNBC on Wednesday. “Why would you take the billions of dollars you provide to [Russian President Vladimir Putin] and just give it

A worker cutting steel pipes near a coal-powered power station in Zhangjiakou, China, on November 12, 2021. Greg Baker | AFP | Getty Images Energy-related carbon dioxide emissions rose to their highest level in history last year, according to the International Energy Agency, as economies rebounded from the coronavirus pandemic with a heavy reliance on

Russia’s Deputy Prime Minister Alexander Novak chairs an OPEC and non-OPEC ministerial meeting via a video link-up. Alexei Maishev | Tass | Getty Images Russia has threatened to close a major gas pipeline to Germany and warned of $300 oil prices if the West goes ahead with a ban on its energy exports. “It is

OPEC Secretary-General Mohammed Barkindo speaks during the opening ceremony of the Abu Dhabi International Petroleum Exhibition and Conference in Abu Dhabi on November 11, 2019. – | AFP | Getty Images Mohammad Barkindo, secretary general of OPEC, said Monday that in the face of skyrocketing energy prices the group’s mission remains to act as a

The oil and gas terminal at the Port of Odessa in Odessa, Ukraine, on Saturday, Jan. 22, 2022. Christopher Occhicone | Bloomberg | Getty Images U.S. crude oil surged more than 8% in early trading on Sunday evening as the market continued to react to supply disruptions stemming from Russia’s ongoing invasion of Ukraine and

In this article .SPX XLE With the national average for a gallon of gas hitting its highest price since 2008 and the stock market on edge with the first land war in Europe since WWII being waged by one of the world’s biggest crude oil producers, crude oil prices and energy stocks are an area

In this article DIS People gathered in Glendale in February to protest the city’s approval to build a fossil-fueled power plant. Courtesy of Morgan Goodwin Glendale, a Los Angeles suburb that’s home to Walt Disney Imagineering and the famous Brand Boulevard, could be the last city in California to build a fossil-fueled power plant. The

The Vogtle Unit 3 and 4 site, being constructed by primary contractor Westinghouse, a business unit of Toshiba, near Waynesboro, Georgia, is seen in an aerial photo taken February 2017. Georgia Power | Reuters Climate change and global security are pushing against each other in shaping the future. That’s particularly apparent in this week’s events

Oil pumping jacks, also known as “nodding donkeys”in a Rosneft Oil Co. oilfield near Sokolovka village, in the Udmurt Republic, Russia, on Friday, Nov. 20, 2020. Bloomberg | Bloomberg | Getty Images The U.S. Treasury Department clarified Friday afternoon that Wall Street’s traders and banks can continue to buy and sell Russian oil and gas

Energy sector ETFs are reaching new multiyear highs this week as the conflict between Russia and Ukraine intensifies. The Energy Select Sector SPDR Fund (XLE) hit highs not seen since 2018 on Thursday. The SPDR S&P Oil & Gas Exploration and Production ETF (XOP) climbed to levels not seen since 2019. On Feb. 24 “when

Local residents are seen in front of partially empty shelves at a supermarket in Kyiv, Ukraine March 3, 2022. Mykhailo Markiv | Reuters Donations in cryptocurrencies like bitcoin and ethereum are pouring into Ukraine as the war with Russia enters its second week. Since Moscow invaded on Feb. 24, more than 102,000 cryptoasset donations, totaling

An artist rendering of the future South Brooklyn Marine Terminal, transformed into a major hub for wind turbine construction. Artist rendering courtesy Equinor New York City is moving to become one of the largest port facilities for offshore wind farm parts in the United States. Mayor Eric Adams announced on Thursday that the South Brooklyn

A solar energy field stands next to the Lippendorf coal-fired power plant on May 10, 2021 in Lippendorf, Germany. Jens Schlueter | Getty Images News | Getty Images The Ukrainian people are bearing the heaviest weight of the war they are fighting with Russia, but the war has had grave consequences for global energy markets

Pro-Russian separatists are seen next to an abandoned tank on a road between the separatist-controlled settlements of Mykolaivka (Nikolaevka) and Buhas (Bugas), as Russia’s invasion of Ukraine continues, in the Donetsk region, Ukraine March 1, 2022. Alexander Ermochenko | Reuters As Moscow’s war on Ukraine rages on and the Russian economy — and currency —

In this article TSLA Joe Biden, left, and Elon Musk Evelyn Hockstein | Reuters; Andrew Harrer | Bloomberg | Getty Images The feud between President Joe Biden and Tesla CEO Elon Musk doesn’t seem to be cooling anytime soon. Musk said no one was watching Biden after the president did not mention Tesla during his

Oil pumping jacks, also known as “nodding donkeys”, in an oilfield near Neftekamsk, in the Republic of Bashkortostan, Russia, on Thursday, Nov. 19, 2020. Andrewy Rudakov | Bloomberg | Getty Images Oil prices surged Tuesday, with U.S. crude hitting its highest level since July 2014 as Russia bears down on Ukraine’s capital. Prices first topped

In this article @CL.1 @LCO.1 Traders on the floor of the NYSE, Jan. 26, 2022. Source: NYSE The heavy new round of sanctions on Russia by the U.S. and its allies are likely to push oil prices — and inflation — even higher. That could create a bigger challenge for the Federal Reserve as it

A map shows the course of the Nord Stream 2 gas pipeline from Russia to Germany on the exterior of an informational booth close to the receiving station for Nord Stream 2 on February 02, 2022 near Lubmin, Germany. Sean Gallup | Getty Images Europeans have been suffering under painfully high energy prices in the

In this article @CL.1 @LCO.1 An oil pumping jack, also known as a “nodding donkey”, in an oilfield near Dyurtyuli, in the Republic of Bashkortostan, Russia, on Thursday, Nov. 19, 2020. Andrey Rudakov | Bloomberg | Getty Images Oil prices jumped Sunday evening after the U.S. and Western allies imposed sanctions on specific Russian banks,

In this article BP.-GB The Kremlin is reflected in the polished company plate of the state-controlled Russian oil giant Rosneft at the entrance of the headquarters in Moscow, Dmitry Kostyukov | AFP | Getty Images British energy giant BP announced Sunday it was offloading its 19.75% stake in Rosneft, a Russian-controlled oil company. BP CEO