New exploration for oil and gas has fallen sharply worldwide this year. Still bruised by an oil-price crash prolonged by the pandemic, companies are now focusing on areas they know will make money, and far less on exploring for new locations to drill.
OPEC+’s decision this week to slash oil production – and now the looming threat of higher gas prices – has pushed Republican rhetoric into familiar territory: President Joe Biden’s green policies are making Americans pay more at the pump. Republicans in Congress have slammed Biden’s attempts since he took office to curb new oil drilling in the US and grow the country’s clean energy infrastructure. A fresh volley of criticism came after this week’s OPEC+ move.
As of August, 21 lease sales were completed globally, just half of what was held in the same period the previous year. Aatisha Mahajan, Rystad’s vice president of upstream analysis, told CNN the downward trend in oil drilling is owed more to companies’ actions than governments’. “Governments are doing their bit,” Mahajan said. “Every government has to think about their energy security. It’s more often interest from the company side, which is less.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Potential Hunter Biden charges are 'grave problem' for Biden family: Miranda DevineFox News contributor Miranda Devine reacts on 'America Reports' to a Washington Post report of potential charges against Hunter Biden after years of investigation.
Read more »
451 Million SHIB Goes to Winner of Recent Shiba Eternity Contest.shibaeternity gives away $5,000 in $SHIB as a contest prize for the best SHIB game trailer. ShibaEternity SHIBarmy
Read more »
Bitcoin, Ethereum Technical Analysis: BTC, ETH Extend Recent Declines on Saturday – Market Updates Bitcoin NewsBitcoin was lower on Saturday, as cryptocurrency prices continued to trade in the red following the latest nonfarm payrolls (NFP) report.
Read more »
Police issue alert of recent business burglaries on Chicago's Northwest SideThe burglaries happened in the Irving Park and Albany Park neighborhoods.
Read more »
There’s A Dishonest Right-Wing Furor Over Recent Arrests Of Anti-Abortion ActivistsProminent conservatives are claiming the Biden administration launched a 'war on pro-lifers' after the Justice Department arrested several protesters for blocking access to abortion clinics.
Read more »
North Korea fires two ballistic missiles after series of recent launchesNorth Korea fired two ballistic missiles early on Sunday, authorities in neighbouring countries said, the seventh such launch by Pyongyang in recent days that added to widespread alarm in Washington and its allies in Tokyo and Seoul.
Read more »