WorldOil Shale operators’ strict financial discipline is finally paying off After years of booms and busts that produced astronomical losses along with a whole lot of oil, the shale industry seems to have found a sweet spot, poised to hit a record of more than $30 billion of free cash generated in 2021. API wants Biden to reduce reliance on foreign oil imports with lease ban blocked "Now is the time for the administration to put an end to this ‘import more oil’ policy that threatens American jobs and deprives state and local communities of much-needed revenue, all while likely increasing emissions and the risks of climate change," the American Petroleum Institute said in a statement. Biden’s oil lease ban lifted by federal judge In a victory for 13 states that filed a legal challenge in Louisiana, U.S. District Judge Terry Doughty granted a preliminary injunction blocking President Joe Biden’s Jan. 27 executive order banning new oil and gas leases on public lands while litigation continues. Biden’s climate czar to meet with API leaders on oil and gas emission cuts The session will be at least the second meeting this year between top API executives and White House National Climate Adviser Gina McCarthy, who is coordinating the Biden administration’s efforts to clamp down on greenhouse gas emissions from the use of fossil fuels. U.S. oil and gas jobs increased slightly in May as companies remain focused on debt Oil and gas employment has remained fairly flat in 2021 as companies have focused on reducing debt, repaying investors and focusing on research and development instead of boosting production. Employment in the sector is down 13.8% since the onset of the pandemic in March 2020. First oil Our U.S. forecast continues to look good Shale consolidation continues as Cabot, Cimarex ink $7.4B merger Cabot Oil and Gas Corp. agreed to merge with Cimarex Energy Co., combining two mid-tier shale drillers in an all-stock transaction valued at about $7.4 billion as the U.S. oil and gas sector continues to consolidate. Texas oil regulator takes firm positions against Washington in defense of oil and gas “The so-called CLEAN Future Act is nothing more than the Green New Deal in lipstick,” said Texas Railroad Commissioner Wayne Christian. “This legislation would effectively federalize regulation of oil and gas, increasing costs to consumers and our national debt, while harming our energy independence and national security.” Pipeline crisis spurs calls to boost, and forsake, fossil fuels The cyber-attack that crippled the nation’s biggest fuel pipeline this week triggered spot shortages of gasoline and a gusher of political rhetoric, with groups from across the political spectrum offering myriad, and contradictory, solutions. Enbridge says Great Lakes oil pipeline will keep running Enbridge Inc. said it will continue to ship crude through its Line 5 pipeline that crosses the Great Lakes, despite Michigan Governor Gretchen Whitmer’s deadline Wednesday to shut the conduit.